XML 18 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net Income $ 72 $ 73
Adjustments to reconcile net income to cash used by operating activities —    
Depreciation and amortization of other intangibles 59 52
Deferred income taxes (1) 7
Stock-based compensation 5 9
Loss on sale of assets 3 1
Changes in components of working capital —    
(Increase) decrease in receivables (223) (159)
(Increase) decrease in inventories (34) (45)
(Increase) decrease in prepayments and other current assets (45) (57)
Increase (decrease) in payables 189 93
Increase (decrease) in accrued taxes (3) 3
Increase (decrease) in accrued interest (3) (5)
Increase (decrease) in other current liabilities (3) (8)
Changes in long-term assets (9) (1)
Changes in long-term liabilities (7) 5
Other 0 1
Net cash used by operating activities 0 (31)
Investing Activities    
Proceeds from sale of assets 2 3
Cash payments for plant, property, and equipment (84) (103)
Cash payments for software related intangible assets (5) (6)
Proceeds from deferred purchase price of factored receivables 34 22
Net cash used by investing activities (53) (84)
Financing Activities    
Repurchase of common shares (2) (3)
Cash dividends (13) (13)
Retirement of long-term debt (6) (6)
Purchase of common stock under the share repurchase program 0 (16)
Net increase (decrease) in bank overdrafts (4) 3
Net increase in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivable 77 117
Net increase (decrease) in short-term borrowings secured by accounts receivable (30) 20
Net cash provided (used) by financing activities 22 102
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 3 8
Decrease in cash, cash equivalents and restricted cash (28) (5)
Cash, cash equivalents and restricted cash, January 1 318 349
Cash, cash equivalents and restricted cash, March 31 (Note) 290 344
Supplemental Cash Flow Information    
Cash paid during the period for interest (net of interest capitalized) 23 22
Cash paid during the period for income taxes (net of refunds) 25 15
Non-cash Operating and Investing Activities    
Period end balance of trade payables for plant, property, and equipment 55 50
Deferred purchase price of receivables factored in the period $ 37 $ 26