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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 162 $ 348
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 46 37
Deferred income taxes 43 33
Amortization of intangible assets 29 43
Stock-based compensation 5 8
Amortization of deferred financing costs 2 2
Expenses related to long-term debt refinancing 0 5
Allowance for doubtful accounts 0 2
Other 3 0
Changes in assets and liabilities:    
Accounts receivable 39 (44)
Inventories (3) (16)
Accounts payable (33) 23
Other assets and liabilities (53) (8)
Net cash provided by operating activities 240 433
CASH FLOWS FROM INVESTING ACTIVITIES:    
Business acquisitions 4 (133)
Additions of long-lived assets (49) (44)
Net cash used for investing activities (45) (177)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on revolving credit facility 800 90
Payments on revolving credit facility (525) (90)
Repurchases of common stock (180) (285)
Dividend payments (39) (37)
Payments on long-term debt (3) (1,148)
Payment of acquisition-related contingent liability (3) 0
Taxes paid related to net share settlement of equity awards (2) (4)
Proceeds from exercise of stock options 1 4
Issuance of long-term debt 0 1,148
Debt financing fees 0 (12)
Net cash provided by (used for) financing activities 49 (334)
Effect of exchange rate changes on cash (2) 0
Net increase (decrease) in cash and cash equivalents 242 (78)
Cash and cash equivalents at beginning of period 192 231
Cash and cash equivalents at end of period 434 153
Supplemental disclosures:    
Interest paid 65 53
Income taxes paid $ 8 $ 55