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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income from continuing operations $ 101 $ 65 $ 434
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:      
Goodwill impairment 0 3 0
Depreciation and amortization of property and equipment 195 193 178
Amortization of intangible assets 59 68 64
Amortization of debt financing costs 9 11 7
Amortization of debt discount 4 4 3
Adjustments to derivative instruments 25 12 (4)
Fees to Manager- related party 32 45 71
Deferred taxes 27 36 (240)
Other non-cash expense, net [1] 22 31 14
Changes in other assets and liabilities, net of acquisitions:      
Accounts receivable (2) 14 (32)
Inventories (3) (2) (6)
Prepaid expenses and other current assets (5) (2) (5)
Accounts payable and accrued expenses 14 0 (7)
Income taxes payable (10) 1 0
Other, net 0 (6) (13)
Net cash provided by operating activities from continuing operations 468 473 464
Investing activities      
Acquisitions of businesses and investments, net of cash, cash equivalents and restricted cash acquired 0 (18) (201)
Purchases of property and equipment (260) (177) (214)
Loan to project developer (1) (19) (23)
Loan repayment from project developer 16 17 17
Proceeds from sale of business, net of cash divested 0 41 0
Other, net (3) 0 0
Net cash used in investing activities from continuing operations (248) (156) (421)
Financing activities      
Proceeds from long-term debt 0 1,407 931
Payment of long-term debt (361) (1,385) (413)
Proceeds from the issuance of shares 0 0 6
Contributions received from noncontrolling interests 0 1 0
Dividends paid to common stockholders (344) (379) (453)
Debt financing costs paid (1) (34) (1)
Net cash (used in) provided by financing activities from continuing operations (706) (390) 70
Net change in cash, cash equivalents and restricted cash from continuing operations (486) (73) 113
Cash flows (used in) provided by discontinued operations:      
Net cash (used in) provided by operating activities (48) 46 65
Net cash provided by (used in) investing activities 239 616 (136)
Net cash provided by (used in) financing activities 24 (31) (32)
Net cash provided by (used in) discontinued operations 215 631 (103)
Effect of exchange rate changes on cash and cash equivalents 0 (1) 1
Net change in cash, cash equivalents and restricted cash (271) 557 11
Cash, cash equivalents and restricted cash, beginning of period 629 72 61
Cash, cash equivalents and restricted cash, end of period 358 629 72
Non-cash investing and financing activities:      
Accrued purchases of property and equipment 32 23 22
Issuance of shares to Manager 31 48 72
Issuance of shares to independent directors 1 1 1
Issuance of shares for acquisition of business 0 0 125
Leased assets obtained in exchange for new operating lease liabilities 21    
Taxes paid, net [2] 65 21 11
Interest paid, net 131 98 85
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]      
Total of cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 629 $ 629 $ 72
[1] Other non-cash expense, net, includes the write-down of the Company’s investment in the mechanical contractor business at MIC Hawaii in 2018.
[2]
Taxes paid, net, includes taxes paid for discontinued operations of $54 million and $8 million in 2019 and 2018, respectively.