v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 723 $ 522 $ 216
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:      
Depreciation and Amortization 619 553 489
Amortization of Deferred Debt Issuance Costs 6 9 9
Deferred Income Taxes 22 131 55
Amount of Postretirement Expense Less Than Funding (5) (18) (24)
Asset Impairment Charges 29 96 0
Other, Net 58 15 93
Changes in Operating Assets and Liabilities, Net of Acquisitions (See Note 4) (308) (218) (229)
Net Cash Provided by Operating Activities 1,144 1,090 609
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital Spending (781) (522) (775)
Packaging Machinery Spending (23) (27) (27)
Acquisition of Businesses, Net of Cash Acquired (361) 0 (1,704)
Beneficial Interest on Sold Receivables 184 125 130
Beneficial Interest Obtained in Exchange for Proceeds (45) (6) (11)
Other, Net 1 (5) (5)
Net Cash Used in Investing Activities (1,025) (435) (2,392)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchase of Common Stock (54) (28) 0
Payments on Debt (26) (14) (16)
Proceeds from Issuance of Debt 0 0 2,965
Retirement of Long-Term Debt 0 (250) (1,626)
Redemption of Noncontrolling Interest 0 0 (150)
Borrowings under Revolving Credit Facilities 4,449 3,929 4,485
Payments on Revolving Credit Facilities (4,314) (4,195) (3,649)
IP Tax Receivable Agreement Payment 0 0 (109)
Debt Issuance Costs 0 0 (27)
Repurchase of Common Stock related to Share-Based Payments (22) (18) (15)
Dividends paid to shareholders and Distributions paid to GPIP Partner (123) (92) (92)
Other, Net (16) 2 12
Net Cash (Used in) Provided by Financing Activities (106) (666) 1,778
Increase (Decrease) in cash and cash equivalents, including cash classified within assets held for sale 13 (11) (5)
Less Cash reclassified to Assets Held for Sale 0 5 0
Effect of Exchange Rate Changes on Cash (1) (6) (2)
Net Increase (Decrease) in Cash and Cash Equivalents 12 (22) (7)
Cash and Cash Equivalents at Beginning of Year 150 172 179
Cash and Cash Equivalents at End of Year 162 150 172
Non-cash Investing Activities:      
Beneficial Interest Obtained in Exchange for Trade Receivables 141 118 121
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities 70 52 118
Non-cash Financing Activities:      
Right-of-Use Assets Obtained in Exchange for New Finance Lease Liabilities 0 42 11
Non-cash Exchange of Stock Issuance for Redemption of Noncontrolling Interest $ 0 $ 0 $ (652)

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