XML 17 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating Activities        
Net Income $ 103 $ 91 $ 175 $ 154
Adjustments to reconcile net income to cash provided by operating activities —        
Depreciation and amortization of other intangibles 52 51 106 101
Deferred income taxes 10 (7) 13 (13)
Stock-based compensation 3 3 10 9
Loss on sale of assets (1) (1) (1) (1)
Changes in components of working capital —        
(Increase) decrease in receivables (19) (26) (179) (220)
(Increase) decrease in inventories 2 13 (49) (46)
(Increase) decrease in prepayments and other current assets (16) 4 (35) (3)
Increase (decrease) in payables 6 (14) 62 63
Increase (decrease) in accrued taxes (6) 10 9 22
Increase (decrease) in accrued interest (12) (12) 0 1
Increase (decrease) in other current liabilities 0 20 (17) 18
Changes in long-term assets 1 (1) 4 1
Changes in long-term liabilities 3 1 (2) (2)
Other 1 (2) 2 (4)
Net cash provided by operating activities 129 132 100 82
Investing Activities        
Proceeds from sale of assets 2 1 3 2
Cash payments for plant, property, and equipment (71) (73) (139) (150)
Cash payments for software related intangible assets (3) (3) (9) (8)
Changes in restricted cash (1) (2) (2) 1
Net cash used by investing activities (73) (77) (147) (155)
Financing Activities        
Issuance of common shares 6 5 4 5
Tax benefit from stock-based compensation 1 3 1 6
Retirement of long-term debt (344) (17) (348) (21)
Issuance of long-term debt 501 0 506 0
Debt issuance cost of long-term debt (8) (1) (8) (1)
Purchase of common stock under the share repurchase program (41) (33) (57) (44)
Net increase (decrease) in bank overdrafts (2) (3) 5 (11)
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivable (168) (26) 25 85
Net increase (decrease) in short-term borrowings secured by accounts receivable (30) 0 (30) 50
Distributions to noncontrolling interest partners (27) (22) (27) (22)
Net cash provided (used) by financing activities (112) (94) 71 47
Effect of foreign exchange rate changes on cash and cash equivalents (7) 1 0 (6)
Increase (decrease) in cash and cash equivalents (63) (38) 24 (32)
Cash and cash equivalents, April 1 and January 1, respectively 374 288 287 282
Cash and cash equivalents, June 30 (Note) 311 250 311 250
Supplemental Cash Flow Information        
Cash paid during the period for interest (net of interest capitalized) 42 29 48 33
Cash paid during the period for income taxes (net of refunds) 37 35 58 35
Non-cash Investing and Financing Activities        
Period end balance of trade payables for plant, property, and equipment $ 35 $ 41 $ 35 $ 41