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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities      
Net income $ 274 $ 424 $ 295
Adjustments to reconcile net income to cash provided by operating activities —      
Goodwill impairment charge 11 0 0
Depreciation and amortization of other intangibles 224 212 203
Deferred income taxes (10) (80) (2)
Stock-based compensation 14 14 15
Loss on sale of assets 5 4 4
Changes in components of working capital —      
(Increase) decrease in receivables 31 (215) (90)
(Increase) decrease in inventories (96) (57) (36)
(Increase) decrease in prepayments and other current assets (39) (8) 37
Increase (decrease) in payables 129 114 90
Increase (decrease) in accrued taxes 4 2 (1)
Increase (decrease) in accrued interest (2) 12 1
Increase (decrease) in other current liabilities 68 26 (10)
Change in long-term assets (22) 6 3
Change in long-term liabilities 34 33 8
Other 4 (3) 11
Net cash provided by operating activities 629 484 528
Investing Activities      
Proceeds from sale of assets 8 6 4
Proceeds from sale of equity interest 9 0 0
Cash payments for plant, property, and equipment (394) (325) (286)
Cash payments for software related intangible assets (25) (20) (23)
Other (1) (1) 2
Other (10) 0 0
Net cash used by investing activities (413) (340) (303)
Financing Activities      
Cash dividends (53) 0 0
Retirement of long-term debt (19) (531) (37)
Issuance of long-term debt 137 509 1
Debt issuance costs of long-term debt (8) (9) (1)
Purchase of common stock under the share repurchase program (169) (225) (213)
Issuance (repurchase) of common stock (1) 13 1
Increase (decrease) in bank overdrafts (7) 10 (22)
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 (67) 202 102
Net increase in short-term borrowings secured by accounts receivable 0 0 30
Distribution to noncontrolling interest partners (64) (55) (44)
Net cash used by financing activities (251) (86) (183)
Effect of foreign exchange rate changes on cash and cash equivalents 3 2 (37)
Increase in cash and cash equivalents (32) 60 5
Cash and cash equivalents, January 1 347 [1] 287 [1] 282
Cash and cash equivalents, December 31 (Note) [1] 315 347 287
Supplemental Cash Flow Information      
Cash paid during the year for interest 78 76 68
Cash paid during the year for income taxes (net of refunds) 95 113 105
Non-cash Investing and Financing Activities      
Period end balance of trade payables for plant, property, and equipment $ 59 $ 68 $ 50
[1] Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.