XML 27 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 25 $ 52
Adjustments to reconcile net income to net cash from operating activities    
Depreciation, amortization and net lease activity 183 180
Stock compensation expense 18 13
Accretion of debt 4 5
Deferred tax benefit (2) (5)
Debt extinguishment loss 0 5
Unrealized (gain) loss on foreign currency option and forward contracts (4) 2
Gains on sales of property and equipment (27) (21)
Other 5 13
Changes in assets and liabilities:    
Accounts receivable 44 (246)
Other assets (16) (30)
Accounts payable (69) (57)
Accrued expenses and other liabilities 19 (7)
Net cash provided by (used in) operating activities 180 (96)
Investing activities    
Payment for purchases of property and equipment (139) (118)
Proceeds from sale of property and equipment 54 47
Cash collected on deferred purchase price receivable 0 71
Other 6 0
Net cash used in investing activities (79) 0
Financing activities    
Proceeds from borrowings related to securitization program 182 0
Proceeds from issuance of debt 0 1,751
Proceeds from borrowings on ABL facility 620 1,075
Repayment of borrowings on ABL facility (20) (1,075)
Repayment of debt and finance leases (25) (534)
Payment for debt issuance costs 0 (24)
Repurchase of common stock (114) (1,227)
Change in bank overdrafts 42 6
Payment for tax withholdings for restricted shares (16) (2)
Other (1) 1
Net cash provided by (used in) financing activities 668 (29)
Effect of exchange rates on cash, cash equivalents and restricted cash (19) 0
Net increase (decrease) in cash, cash equivalents and restricted cash 750 (125)
Cash, cash equivalents and restricted cash, beginning of period 387 514
Cash, cash equivalents and restricted cash, end of period 1,137 389
Supplemental disclosure of cash flow information:    
Leased assets obtained in exchange for new operating lease liabilities 156 175
Leased assets obtained in exchange for new finance lease liabilities 8 13
Cash paid for interest 76 49
Cash paid for income taxes $ 7 $ 8