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Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)
 6 Months Ended
Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Statement of Comprehensive Income (Loss)
STATEMENT OF COMPREHENSIVE INCOME (LOSS)
 
Three Months Ended June 30, 2017
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Revenues
 
 
 
 
 
 
 
 
 
Net sales and operating revenues —
 
 
 
 
 
 
 
 
 
External
$
1,023

 
$
1,294

 
$
—

 
$
—

 
$
2,317

Affiliated companies
141

 
172

 
—

 
(313
)
 
—

 
1,164

 
1,466

 
—

 
(313
)
 
2,317

Costs and expenses
 
 
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown below)
988

 
1,271

 
—

 
(313
)
 
1,946

Engineering, research, and development
19

 
17

 
—

 
—

 
36

Selling, general, and administrative
184

 
69

 
—

 
—

 
253

Depreciation and amortization of other intangibles
21

 
34

 
—

 
—

 
55

 
1,212

 
1,391

 
—

 
(313
)
 
2,290

Other income (expense)
 
 
 
 
 
 
 
 
 
Loss on sale of receivables
(1
)
 
—

 
—

 
—

 
(1
)
Other income (expense)
8

 
8

 
—

 
(15
)
 
1

 
7

 
8

 
—

 
(15
)
 
—

Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies
(41
)
 
83

 
—

 
(15
)
 
27

Interest expense —
 
 
 
 
 
 
 
 
 
External (net of interest capitalized)
3

 
2

 
15

 
—

 
20

Affiliated companies (net of interest income)
(4
)
 
2

 
2

 
—

 
—

Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies
(40
)
 
79

 
(17
)
 
(15
)
 
7

Income tax (benefit) expense
3

 
(11
)
 
—

 
—

 
(8
)
Equity in net income (loss) from affiliated companies
60

 
—

 
14

 
(74
)
 
—

Net income (loss)
17

 
90

 
(3
)
 
(89
)
 
15

Less: Net income attributable to noncontrolling interests
—

 
18

 
—

 
—

 
18

Net income (loss) attributable to Tenneco Inc.
$
17

 
$
72

 
$
(3
)
 
$
(89
)
 
$
(3
)
Comprehensive income (loss) attributable to Tenneco Inc.
$
17

 
$
72

 
$
33

 
$
(89
)
 
$
33


STATEMENT OF COMPREHENSIVE INCOME (LOSS)
 
Three Months Ended June 30, 2016
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Revenues
 
 
 
 
 
 
 
 
 
Net sales and operating revenues —
 
 
 
 
 
 
 
 
 
External
$
1,005

 
$
1,207

 
$
—

 
$
—

 
$
2,212

Affiliated companies
128

 
196

 
—

 
(324
)
 
—

 
1,133

 
1,403

 
—

 
(324
)
 
2,212

Costs and expenses
 
 
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown below)
946

 
1,194

 
—

 
(324
)
 
1,816

Engineering, research, and development
19

 
18

 
—

 
—

 
37

Selling, general, and administrative
58

 
75

 
1

 
—

 
134

Depreciation and amortization of other intangibles
21

 
31

 
—

 
—

 
52

 
1,044

 
1,318

 
1

 
(324
)
 
2,039

Other income (expense)
 
 
 
 
 
 
 
 
 
Loss on sale of receivables
(1
)
 
—

 
—

 
—

 
(1
)
Other income (expense)
7

 
7

 
—

 
(15
)
 
(1
)
 
6

 
7

 
—

 
(15
)
 
(2
)
Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies
95

 
92

 
(1
)
 
(15
)
 
171

Interest expense —
 
 
 
 
 
 
 
 
 
External (net of interest capitalized)
—

 
2

 
32

 
—

 
34

Affiliated companies (net of interest income)
(3
)
 
2

 
1

 
—

 
—

Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies
98

 
88

 
(34
)
 
(15
)
 
137

Income tax expense
24

 
15

 
—

 
—

 
39

Equity in net income (loss) from affiliated companies
57

 
—

 
116

 
(173
)
 
—

Net income (loss)
131

 
73

 
82

 
(188
)
 
98

Less: Net income attributable to noncontrolling interests
—

 
16

 
—

 
—

 
16

Net income (loss) attributable to Tenneco Inc.
$
131

 
$
57

 
$
82

 
$
(188
)
 
$
82

Comprehensive income (loss) attributable to Tenneco Inc.
$
131

 
$
57

 
$
65

 
$
(188
)
 
$
65



STATEMENT OF COMPREHENSIVE INCOME (LOSS)
 
Six Months Ended June 30, 2017
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Revenues
 
 
 
 
 
 
 
 
 
Net sales and operating revenues —
 
 
 
 
 
 
 
 
 
External
$
2,041

 
$
2,568

 
$
—

 
$
—

 
$
4,609

Affiliated companies
285

 
354

 
—

 
(639
)
 
—

 
2,326

 
2,922

 
—

 
(639
)
 
4,609

Costs and expenses
 
 
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown below)
1,982

 
2,534

 
—

 
(639
)
 
3,877

Engineering, research, and development
39

 
36

 
—

 
—

 
75

Selling, general, and administrative
259

 
142

 
—

 
—

 
401

Depreciation and amortization of other intangibles
42

 
65

 
—

 
—

 
107

 
2,322

 
2,777

 
—

 
(639
)
 
4,460

Other income (expense)
 
 
 
 
 
 
 
 
 
Loss on sale of receivables
(1
)
 
(1
)
 
—

 
—

 
(2
)
Other income (expense)
—

 
16

 
—

 
(15
)
 
1

 
(1
)
 
15

 
—

 
(15
)
 
(1
)
Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies
3

 
160

 
—

 
(15
)
 
148

Interest expense —
 
 
 
 
 
 
 
 
 
External (net of interest capitalized)
3

 
2

 
30

 
—

 
35

Affiliated companies (net of interest income)
(7
)
 
3

 
4

 
—

 
—

Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies
7

 
155

 
(34
)
 
(15
)
 
113

Income tax expense
11

 
14

 
—

 
—

 
25

Equity in net income (loss) from affiliated companies
88

 
—

 
90

 
(178
)
 
—

Net income (loss)
84

 
141

 
56

 
(193
)
 
88

Less: Net income attributable to noncontrolling interests
—

 
32

 
—

 
—

 
32

Net income attributable to Tenneco Inc.
$
84

 
$
109

 
$
56

 
$
(193
)
 
$
56

Comprehensive income (loss) attributable to Tenneco Inc.
$
84

 
$
109

 
$
120

 
$
(193
)
 
$
120


STATEMENT OF COMPREHENSIVE INCOME (LOSS)
 
Six Months Ended June 30, 2016
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Revenues
 
 
 
 
 
 
 
 
 
Net sales and operating revenues —
 
 
 
 
 
 
 
 
 
External
$
2,001

 
$
2,347

 
$
—

 
$
—

 
$
4,348

Affiliated companies
255

 
386

 
—

 
(641
)
 
—

 
2,256

 
2,733

 
—

 
(641
)
 
4,348

Costs and expenses
 
 
 
 
 
 
 
 
 
Cost of sales (exclusive of depreciation and amortization shown below)
1,896

 
2,331

 
—

 
(641
)
 
3,586

Engineering, research, and development
39

 
37

 
—

 
—

 
76

Selling, general, and administrative
126

 
154

 
1

 
—

 
281

Depreciation and amortization of other intangibles
42

 
64

 
—

 
—

 
106

 
2,103

 
2,586

 
1

 
(641
)
 
4,049

Other income (expense)
 
 
 
 
 
 
 
 
 
Loss on sale of receivables
(1
)
 
(1
)
 
—

 
—

 
(2
)
Other income (expense)
1

 
12

 
—

 
(15
)
 
(2
)
 
—

 
11

 
—

 
(15
)
 
(4
)
Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies
153

 
158

 
(1
)
 
(15
)
 
295

Interest expense —
 
 
 
 
 
 
 
 
 
External (net of interest capitalized)
—

 
2

 
50

 
—

 
52

Affiliated companies (net of interest income)
(6
)
 
4

 
2

 
—

 
—

Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies
159

 
152

 
(53
)
 
(15
)
 
243

Income tax expense
37

 
36

 
—

 
—

 
73

Equity in net income (loss) from affiliated companies
85

 
—

 
192

 
(277
)
 
—

Net income (loss)
207

 
116

 
139

 
(292
)
 
170

Less: Net income attributable to noncontrolling interests
—

 
31

 
—

 
—

 
31

Net income (loss) attributable to Tenneco Inc.
$
207

 
$
85

 
$
139

 
$
(292
)
 
$
139

Comprehensive income (loss) attributable to Tenneco Inc.
$
207

 
$
85

 
$
149

 
$
(292
)
 
$
149
Balance Sheet
BALANCE SHEET
 
June 30, 2017
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
4

 
$
329

 
$
—

 
$
—

 
$
333

Restricted cash
—

 
2

 
—

 
—

 
2

Receivables, net
692

 
1,543

 
—

 
(734
)
 
1,501

Inventories
369

 
446

 
—

 
—

 
815

Prepayments and other
84

 
227

 
—

 
—

 
311

Total current assets
1,149

 
2,547

 
—

 
(734
)
 
2,962

Other assets:
 
 
 
 
 
 
 
 
 
Investment in affiliated companies
1,220

 
—

 
1,366

 
(2,586
)
 
—

Notes and advances receivable from affiliates
961

 
17,895

 
4,103

 
(22,959
)
 
—

Long-term receivables, net
8

 
1

 
—

 
—

 
9

Goodwill
22

 
37

 
—

 
—

 
59

Intangibles, net
6

 
12

 
—

 
—

 
18

Deferred income taxes
88

 
28

 
128

 
—

 
244

Other
60

 
50

 
—

 
—

 
110

 
2,365

 
18,023

 
5,597

 
(25,545
)
 
440

Plant, property, and equipment, at cost
1,431

 
2,390

 
—

 
—

 
3,821

Less — Accumulated depreciation and amortization
(917
)
 
(1,425
)
 
—

 
—

 
(2,342
)
 
514

 
965

 
—

 
—

 
1,479

Total assets
$
4,028

 
$
21,535

 
$
5,597

 
$
(26,279
)
 
$
4,881

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt (including current maturities of long-term debt)
 
 
 
 
 
 
 
 
 
Short-term debt — non-affiliated
$
—

 
$
92

 
$
15

 
$
—

 
$
107

Short-term debt — affiliated
382

 
152

 
—

 
(534
)
 
—

Accounts payable
622

 
1,104

 
—

 
(118
)
 
1,608

Accrued taxes
61

 
(8
)
 
—

 
—

 
53

Other
277

 
319

 
12

 
(82
)
 
526

Total current liabilities
1,342

 
1,659

 
27

 
(734
)
 
2,294

Long-term debt — non-affiliated
764

 
12

 
714

 
—

 
1,490

Long-term debt — affiliated
784

 
17,934

 
4,241

 
(22,959
)
 
—

Deferred income taxes
—

 
7

 
—

 
—

 
7

Postretirement benefits and other liabilities
274

 
134

 
—

 
—

 
408

Commitments and contingencies

 

 

 

 


Total liabilities
3,164

 
19,746

 
4,982

 
(23,693
)
 
4,199

Redeemable noncontrolling interests
—

 
25

 
—

 
—

 
25

Tenneco Inc. shareholders’ equity
864

 
1,722

 
615

 
(2,586
)
 
615

Noncontrolling interests
—

 
42

 
—

 
—

 
42

Total equity
864

 
1,764

 
615

 
(2,586
)
 
657

Total liabilities, redeemable noncontrolling interests and equity
$
4,028

 
$
21,535

 
$
5,597

 
$
(26,279
)
 
$
4,881

BALANCE SHEET
 
December 31, 2016
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
9

 
$
338

 
$
—

 
$
—

 
$
347

Restricted cash
—

 
2

 
—

 
—

 
2

Receivables, net
386

 
1,412

 
—

 
(504
)
 
1,294

Inventories
361

 
369

 
—

 
—

 
730

Prepayments and other
62

 
167

 
—

 
—

 
229

Total current assets
818

 
2,288

 
—

 
(504
)
 
2,602

Other assets:
 
 
 
 
 
 
 
 
 
Investment in affiliated companies
1,213

 
—

 
1,207

 
(2,420
)
 
—

Notes and advances receivable from affiliates
939

 
16,529

 
4,781

 
(22,249
)
 
—

Long-term receivables, net
9

 
—

 
—

 
—

 
9

Goodwill
22

 
35

 
—

 
—

 
57

Intangibles, net
7

 
12

 
—

 
—

 
19

Deferred income taxes
47

 
23

 
129

 
—

 
199

Other
46

 
49

 
8

 
—

 
103

 
2,283

 
16,648

 
6,125

 
(24,669
)
 
387

Plant, property, and equipment, at cost
1,371

 
2,177

 
—

 
—

 
3,548

Less — Accumulated depreciation and amortization
(895
)
 
(1,296
)
 
—

 
—

 
(2,191
)
 
476

 
881

 
—

 
—

 
1,357

Total assets
$
3,577

 
$
19,817

 
$
6,125

 
$
(25,173
)
 
$
4,346

LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt (including current maturities of long-term debt)
 
 
 
 
 
 
 
 
 
Short-term debt — non-affiliated
$
—

 
$
75

 
$
15

 
$
—

 
$
90

Short-term debt — affiliated
167

 
187

 
—

 
(354
)
 
—

Accounts payable
562

 
1,027

 
—

 
(88
)
 
1,501

Accrued taxes
4

 
35

 
—

 
—

 
39

Other
147

 
243

 
15

 
(62
)
 
343

Total current liabilities
880

 
1,567

 
30

 
(504
)
 
1,973

Long-term debt — non-affiliated
—

 
12

 
1,282

 
—

 
1,294

Long-term debt — affiliated
1,543

 
16,466

 
4,240

 
(22,249
)
 
—

Deferred income taxes
—

 
7

 
—

 
—

 
7

Postretirement benefits and other liabilities
297

 
115

 
—

 
—

 
412

Commitments and contingencies

 

 

 

 

Total liabilities
2,720

 
18,167

 
5,552

 
(22,753
)
 
3,686

Redeemable noncontrolling interests
—

 
40

 
—

 
—

 
40

Tenneco Inc. shareholders’ equity
857

 
1,563

 
573

 
(2,420
)
 
573

Noncontrolling interests
—

 
47

 
—

 
—

 
47

Total equity
857

 
1,610

 
573

 
(2,420
)
 
620

Total liabilities, redeemable noncontrolling interests and equity
$
3,577

 
$
19,817

 
$
6,125

 
$
(25,173
)
 
$
4,346
Statement of Cash Flows
STATEMENT OF CASH FLOWS
 
Three Months Ended June 30, 2017
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Operating Activities
 
 
 
 
 
 
 
 
 
Net cash provided (used) by operating activities
$
104

 
$
29

 
$
(7
)
 
$
(7
)
 
$
119

Investing Activities
 
 
 
 
 
 
 
 
 
Proceeds from sale of assets
1

 
2

 
—

 
—

 
3

Proceeds from sale of equity interest
—

 
9

 
—

 
—

 
9

Cash payments for plant, property, and equipment
(39
)
 
(51
)
 
—

 
—

 
(90
)
Cash payments for software related intangible assets
(4
)
 
(2
)
 
—

 
—

 
(6
)
Changes in restricted cash
—

 
1

 
—

 
—

 
1

Other
(4
)
 
—

 
—

 
—

 
(4
)
Net cash used by investing activities
(46
)
 
(41
)
 
—

 
—

 
(87
)
Financing Activities
 
 
 
 
 
 
 
 
 
Cash dividends
—

 
—

 
(13
)
 
—

 
(13
)
Retirement of long-term debt - net
—

 
(2
)
 
—

 
—

 
(2
)
Issuance of long-term debt - net
400

 
—

 
(264
)
 
—

 
136

Debt issuance cost of long-term debt
(8
)
 
—

 
—

 
—

 
(8
)
Purchase of common stock under the share repurchase program
—

 
—

 
(44
)
 
—

 
(44
)
Net increase in bank overdrafts
—

 
(12
)
 
—

 
—

 
(12
)
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt
369

 
(6
)
 
(420
)
 
—

 
(57
)
Intercompany dividend payments and net increase (decrease) in intercompany obligations
(821
)
 
66

 
748

 
7

 
—

Distributions to noncontrolling interest partners
—

 
(33
)
 
—

 
—

 
(33
)
Net cash provided (used) by financing activities
(60
)
 
13

 
7

 
7

 
(33
)
Effect of foreign exchange rate changes on cash and cash equivalents
—

 
(7
)
 
—

 
—

 
(7
)
Decrease in cash and cash equivalents
(2
)
 
(6
)
 
—

 
—

 
(8
)
Cash and cash equivalents, April 1
6

 
335

 
—

 
—

 
341

Cash and cash equivalents, June 30 (Note)
$
4

 
$
329

 
$
—

 
$
—

 
$
333

 
Note:
Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.
STATEMENT OF CASH FLOWS
 
Three Months Ended June 30, 2016
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass &
Elims
 
Consolidated
 
(Millions)
Operating Activities
 
 
 
 
 
 
 
 
 
Net cash provided (used) by operating activities
$
155

 
$
24

 
$
(36
)
 
$
(11
)
 
$
132

Investing Activities
 
 
 
 
 
 
 
 
 
Proceeds from sale of assets
—

 
2

 
—

 
—

 
2

Cash payments for plant, property, and equipment
(30
)
 
(41
)
 
—

 
—

 
(71
)
Cash payments for software related intangible assets
(2
)
 
(1
)
 
—

 
—

 
(3
)
Changes in restricted cash
—

 
(1
)
 
—

 
—

 
(1
)
Net cash used by investing activities
(32
)
 
(41
)
 
—

 
—

 
(73
)
Financing Activities
 
 
 
 
 
 
 
 
 
Issuance of common shares
—

 
—

 
4

 
—

 
4

Retirement of long-term debt - net
—

 
(16
)
 
(328
)
 
—

 
(344
)
Issuance of long-term debt - net
—

 
1

 
500

 
—

 
501

Debt issuance cost of long-term debt
—

 
—

 
(8
)
 
—

 
(8
)
Purchase of common stock under the share repurchase program
—

 
—

 
(41
)
 
—

 
(41
)
Net decrease in bank overdrafts
—

 
(2
)
 
—

 
—

 
(2
)
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables
—

 
(18
)
 
(150
)
 
—

 
(168
)
Net decrease in short-term borrowings secured by accounts receivable
—

 
—

 
(30
)
 
—

 
(30
)
Intercompany dividend payments and net increase (decrease) in intercompany obligations
(126
)
 
25

 
90

 
11

 
—

Capital contribution from noncontrolling interest partner
—

 
(27
)
 
—

 
—

 
(27
)
Net cash provided (used) by financing activities
(126
)
 
(37
)
 
37

 
11

 
(115
)
Effect of foreign exchange rate changes on cash and cash equivalents
1

 
(7
)
 
(1
)
 
—

 
(7
)
Decrease in cash and cash equivalents
(2
)
 
(61
)
 
—

 
—

 
(63
)
Cash and cash equivalents, April 1
4

 
370

 
—

 
—

 
374

Cash and cash equivalents, June 30 (Note)
$
2

 
$
309

 
$
—

 
$
—

 
$
311

 
Note:
Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.

STATEMENT OF CASH FLOWS
 
Six Months Ended June 30, 2017
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass
&
Elims
 
Consolidated
 
(Millions)
Operating Activities
 
 
 
 
 
 
 
 
 
Net cash provided (used) by operating activities
$
63

 
$
75

 
$
(21
)
 
$
(7
)
 
$
110

Investing Activities
 
 
 
 
 
 
 
 
 
Proceeds from sale of equity interest
—

 
9

 
—

 
—

 
9

Proceeds from sale of assets
3

 
3

 
—

 
—

 
6

Cash payments for plant, property, and equipment
(81
)
 
(112
)
 
—

 
—

 
(193
)
Cash payments for software related intangible assets
(6
)
 
(6
)
 
—

 
—

 
(12
)
Other
(4
)
 
—

 
—

 
—

 
(4
)
Net cash used by investing activities
(88
)
 
(106
)
 
—

 
—

 
(194
)
Financing Activities
 
 
 
 
 
 
 
 
 
Repurchase of common shares
—

 
—

 
(3
)
 
—

 
(3
)
Cash dividends
—

 
—

 
(26
)
 
—

 
(26
)
Retirement of long-term debt - net
—

 
(2
)
 
(6
)
 
—

 
(8
)
Issuance of long-term debt - net
400

 
—

 
(264
)
 
—

 
136

Debt issuance cost of long-term debt
(8
)
 
—

 
—

 
—

 
(8
)
Purchase of common stock under the share repurchase program
—

 
—

 
(60
)
 
—

 
(60
)
Net decrease in bank overdrafts
—

 
(9
)
 
—

 
—

 
(9
)
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables
369

 
14

 
(323
)
 
—

 
60

Net increase in short-term borrowings secured by accounts receivables
—

 
—

 
20

 
—

 
20

Intercompany dividend payments and net increase (decrease) in intercompany obligations
(741
)
 
51

 
683

 
7

 
—

Distributions to noncontrolling interest partners
—

 
(33
)
 
—

 
—

 
(33
)
Net cash provided by financing activities
20

 
21

 
21

 
7

 
69

Effect of foreign exchange rate changes on cash and cash equivalents
—

 
1

 
—

 
—

 
1

Increase (decrease) in cash and cash equivalents
(5
)
 
(9
)
 
—

 
—

 
(14
)
Cash and cash equivalents, January 1
9

 
338

 
—

 
—

 
347

Cash and cash equivalents, June 30 (Note)
$
4

 
$
329

 
$
—

 
$
—

 
$
333


Note:
Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.
STATEMENT OF CASH FLOWS
 
Six Months Ended June 30, 2016
 
Guarantor
Subsidiaries
 
Nonguarantor
Subsidiaries
 
Tenneco Inc.
(Parent
Company)
 
Reclass
&
Elims
 
Consolidated
 
(Millions)
Operating Activities
 
 
 
 
 
 
 
 
 
Net cash provided (used) by operating activities
$
(57
)
 
$
204

 
$
(33
)
 
$
(11
)
 
$
103

Investing Activities
 
 
 
 
 
 
 
 
 
Proceeds from sale of assets
—

 
3

 
—

 
—

 
3

Cash payments for plant, property, and equipment
(43
)
 
(96
)
 
—

 
—

 
(139
)
Cash payments for software related intangible assets
(4
)
 
(5
)
 
—

 
—

 
(9
)
Changes in restricted cash
—

 
(2
)
 
—

 
—

 
(2
)
Net cash used by investing activities
(47
)
 
(100
)
 
—

 
—

 
(147
)
Financing Activities
 
 
 
 
 
 
 
 
 
Issuance of common shares
—

 
—

 
2

 
—

 
2

Retirement of long-term debt - net
—

 
(16
)
 
(332
)
 
—

 
(348
)
Issuance of long-term debt - net
—

 
6

 
500

 
—

 
506

Debt issuance cost of long-term debt
—

 
—

 
(8
)
 
—

 
(8
)
Purchase of common stock under the share repurchase program
—

 
—

 
(57
)
 
—

 
(57
)
Net decrease in bank overdrafts
—

 
5

 
—

 
—

 
5

Net increase in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables
—

 
(10
)
 
35

 
—

 
25

Net increase in short-term borrowings secured by accounts receivables
—

 
—

 
(30
)
 
—

 
(30
)
Intercompany dividend payments and net increase (decrease) in intercompany obligations
103

 
(38
)
 
(76
)
 
11

 
—

Distributions to noncontrolling interest partners
—

 
(27
)
 
—

 
—

 
(27
)
Net cash provided (used) by financing activities
103

 
(80
)
 
34

 
11

 
68

Effect of foreign exchange rate changes on cash and cash equivalents
1

 
—

 
(1
)
 
—

 
—

Decrease in cash and cash equivalents
—

 
24

 
—

 
—

 
24

Cash and cash equivalents, January 1
2

 
285

 
—

 
—

 
287

Cash and cash equivalents, June 30 (Note)
$
2

 
$
309

 
$
—

 
$
—

 
$
311


Note:
Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.