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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income (Loss) $ 673 $ 531 $ 442
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, plant and equipment 109 109 104
Amortization of intangible assets 45 46 46
Stock-based compensation 22 18 14
Deferred income taxes (17) (4) 64
Amortization of deferred financing costs 4 4 4
Technology-related investments gain (3) (6) (3)
Unrealized loss (gain) on marketable securities 1 22 (4)
Loss on intercompany foreign exchange 0 6 0
Other 1 2 0
Changes in assets and liabilities:      
Accounts receivable 7 (70) (78)
Inventories (52) (25) (26)
Accounts payable 21 15 24
Other assets and liabilities (27) 9 48
Net cash provided by operating activities 784 657 635
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions of long-lived assets (125) (167) (175)
Investment in equities without a readily determinable fair value (5) 0 0
Proceeds from technology-related investments 2 6 4
Investment in equity method investee (1) (1) 0
Business acquisitions 0 (23) 0
Proceeds from sale of assets 0 2 0
Investment in marketable securities 0 0 (41)
Loans to third parties 0 0 (12)
Repayments from loans to third parties 0 0 12
Net cash used for investing activities (129) (183) (212)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchases of common stock (263) (278) (513)
Dividend payments (83) (80) (81)
Proceeds from exercise of stock options 28 2 3
Payments on long-term debt (7) (7) (7)
Taxes paid related to net share settlement of equity awards (7) (4) (3)
Repayments on revolving credit facility 0 (95) 0
Borrowings on revolving credit facility 0 95 0
Payment of acquisition-related contingent liability 0 0 (3)
Net cash used for financing activities (332) (367) (604)
Effect of exchange rate changes on cash 0 (2) (2)
Net increase (decrease) in cash and cash equivalents 323 105 (183)
Cash and cash equivalents at beginning of period 232 127 310
Cash and cash equivalents at end of period 555 232 127
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Income taxes paid (194) (102) (60)
Interest paid (131) (117) (103)
Interest received from interest rate swaps 12 1 0
Non-cash investing activities:      
Capital expenditures in liabilities $ 4 $ 11 $ 9