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Consolidated Statements of Cash Flows
€ in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Operating activities      
Net income $ 440 $ 444 $ 360
Adjustments to reconcile net income to net cash from operating activities      
Depreciation, amortization and net lease activity 739 716 658
Stock compensation expense 67 49 79
Accretion of debt 21 15 19
Deferred tax expense (benefit) 46 45 (158)
Debt extinguishment loss 5 27 36
Unrealized loss (gain) on foreign currency option and forward contracts 9 (20) 49
Gain on sale of equity investment 0 (24) 0
Gains on sales of property and equipment (110) (8) (13)
Other 21 8 26
Changes in assets and liabilities:      
Accounts receivable (67) (13) (320)
Other assets (47) (49) (92)
Accounts payable (120) 35 140
Accrued expenses and other liabilities (213) (123) 1
Net cash provided by operating activities 791 1,102 785
Investing activities      
Payment for purchases of property and equipment (601) (551) (504)
Proceeds from sale of property and equipment 252 143 118
Cash collected on deferred purchase price receivable 186 0 0
Other 2 8 0
Net cash used in investing activities (161) (400) (386)
Financing activities      
Proceeds from issuance of debt 1,754 1,074 819
Repurchase of debt 0 (1,225) (1,387)
Proceeds from borrowings on ABL facility 1,935 1,355 995
Repayment of borrowings on ABL facility (1,935) (1,455) (925)
Repayment of debt and finance leases (867) (119) (106)
Payment for debt issuance costs (28) (10) (17)
Proceeds from forward sale settlement 0 349 0
Proceeds from common stock offerings 0 0 288
Purchase of noncontrolling interests (258) 0 0
Repurchase of common stock (1,347) (536) 0
Payment for tax withholdings for restricted shares (14) (53) (17)
Dividends paid (8) (8) (7)
Other 9 8 (9)
Net cash used in financing activities (759) (620) (366)
Effect of exchange rates on cash, cash equivalents and restricted cash 2 (17) 16
Net (decrease) increase in cash, cash equivalents and restricted cash (127) 65 49
Cash, cash equivalents and restricted cash, beginning of year 514 449 400
Cash, cash equivalents and restricted cash, end of year 387 514 449
Supplemental disclosure of cash flow information:      
Cash paid for interest 282 233 274
Cash paid for income taxes $ 121 $ 70 $ 79