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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating activities    
Net income (loss) $ (269) $ 63
Adjustments to reconcile net (loss) income to net cash provided by operations:    
Depreciation and amortization 15 16
Amortization of intangibles 20 33
Equity-based compensation expense 8 12
Deferred income tax benefit (10) (5)
Decrease in LIFO reserve (20) (3)
Goodwill and intangible asset impairment 242 0
Lease impairment and abandonment 15 0
Inventory-related charges 34 0
Provision for uncollectible accounts 3 2
Other 3 2
Changes in operating assets and liabilities:    
Accounts receivable 110 (4)
Inventories 102 56
Other current assets (3) 0
Accounts payable (63) (3)
Accrued expenses and other current liabilities (9) (35)
Net cash provided by operations 178 134
Investing activities    
Purchases of property, plant and equipment (8) (12)
Other investing activities 1 2
Net cash used in investing activities (7) (10)
Financing activities    
Payments on revolving credit facilities (655) (786)
Proceeds from revolving credit facilities 519 733
Payments on long-term obligations (5) (3)
Purchase of common stock 0 (63)
Dividends paid on preferred stock (18) (18)
Repurchases of shares to satisfy tax withholdings (3) (6)
Other 0 1
Net cash used in financing activities (162) (142)
Increase (decrease) in cash 9 (18)
Effect of foreign exchange rate on cash (1) 0
Cash -- beginning of period 32 43
Cash -- end of period 40 25
Supplemental disclosures of cash flow information:    
Cash paid for interest 21 30
Cash paid for income taxes $ 3 $ 27