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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows provided by (used in) operating activities    
Net (loss) income $ 59 $ (29)
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 101 102
Accelerated depreciation 127 0
Deferred tax benefit 3 2
Gain on step acquisition 0 5
Gain on dispositions (see Notes 12 and 13) (240) 0
Gain on extinguishment of debt (see Note 6) (47) (14)
Unrealized foreign currency losses 40 19
Other non-cash adjustments 3 3
Net change in assets and liabilities:    
Accounts receivable 88 (30)
Inventories 32 14
Accounts and drafts payable (35) (25)
Income taxes payable 26 10
Other assets, current and non-current 27 13
Other liabilities, current and long-term 59 6
Net cash provided by (used in) operating activities (131) 66
Cash flows provided by (used in) investing activities    
Net cash (used in) provided by investing activities 223 (114)
Capital expenditures (91) (122)
Capitalized interest (1) 0
Purchase of business, net of cash acquired 0 (7)
Proceeds from dispositions, net 281 0
Cash received on buyer’s note (see Note 12) 45 0
Proceeds from sale of assets 1 1
Proceeds from sale of investments, net 0 6
Change in restricted cash (11) 8
Investment in affiliate (1) 0
Cash flows (used in) provided by financing activities    
Net short-term debt (repayments) borrowings (13) (1)
Borrowings of long-term debt 461 492
Repayments of long-term debt (643) (393)
Long-term debt and credit facility financing fees 0 (10)
Net cash provided by financing activities 195 (88)
Effect of exchange rates on cash and cash equivalents 1 (9)
(Decrease) increase in cash and cash equivalents (102) 31
Cash and cash equivalents (unrestricted) at beginning of period 228 156
Cash and cash equivalents (unrestricted) at end of period 126 187
Supplemental disclosures of cash flow information    
Interest, net 210 214
Income taxes, net of cash refunds 20 12
Non-cash assumption of debt on step acquisition 0 18
Acceptance of buyer’s note (see Note 12) $ 75 $ 0