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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities:    
Net (loss) income $ (272) $ 117
Adjustments to reconcile net (loss) income to operating cash flows:    
Depreciation and amortization 433 170
Deferred income taxes (67) 45
Unrealized losses (gains) on derivatives 1 (6)
Restructuring related non-cash charges (net of reversals) 41  
Loss (gain) on sale of businesses and noncurrent assets 1 (27)
Non-cash portion of employee benefit obligations 4 (7)
Non-cash portion of operating lease expense 40 41
Equity based compensation 15 10
Other non-cash items, net 1 13
Change in assets and liabilities:    
Accounts receivable, net (7) (54)
Inventories 108 (269)
Accounts payable (27) 127
Operating lease payments (41) (40)
Accrued and other current liabilities (18) 58
Other assets and liabilities 3 (12)
Net cash provided by operating activities 215 166
Investing Activities:    
Acquisition of property, plant and equipment (116) (114)
Disposal of businesses and joint venture equity interests, net of cash disposed 1 47
Other investing activities 1 (2)
Net cash used in investing activities (114) (69)
Financing Activities:    
Long-term debt repayments (294) (11)
Dividends paid to common shareholders (36) (36)
Other financing activities (7) (6)
Net cash used in financing activities (337) (53)
Effect of exchange rate changes on cash and cash equivalents 5 (3)
(Decrease) increase in cash and cash equivalents (231) 41
Cash and cash equivalents, including amounts classified as held for sale, as of beginning of the period 533 214
Cash and cash equivalents as of end of the period 302 255
Cash and cash equivalents are comprised of:    
Cash and cash equivalents 302 246
Cash and cash equivalents classified as assets held for sale   9
Cash and cash equivalents as of end of the period 302 255
Cash paid    
Interest 135 98
Income taxes paid, net $ 31 $ 35