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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 9 $ 18
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 5 5
Amortization of intangibles 7 11
Equity-based compensation expense 2 4
Deferred income tax benefit 1 1
(Decrease) increase in LIFO reserve (3)  
Provision for uncollectible accounts 6 2
Other 1 2
Changes in operating assets and liabilities:    
Accounts receivable (33) (47)
Inventories (4) (42)
Other current assets 2 8
Accounts payable 49 27
Accrued expenses and other current liabilities (5) (29)
Net cash provided by (used in) operations 37 (40)
Investing activities    
Purchases of property, plant and equipment (2) (2)
Net cash used in investing activities (2) (2)
Financing activities    
Payments on revolving credit facilities (228) (256)
Proceeds from revolving credit facilities 205 319
Payments on long-term obligations (4) (1)
Purchase of common stock   (25)
Dividends paid on preferred stock (6) (6)
Repurchases of shares to satisfy tax withholdings (3) (6)
Other   1
Net cash (used in) provided by financing activities (36) 26
Decrease in cash (1) (16)
Effect of foreign exchange rate on cash (3)
Cash -- beginning of period 32 43
Cash -- end of period 28 27
Supplemental disclosures of cash flow information:    
Cash paid for interest 8 10
Cash paid for income taxes $ 1 $ 5