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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash provided by operating activities    
Net income (loss) $ 43 $ (14)
Adjustments to reconcile net income (loss) to operating cash flows:    
Depreciation and amortization 84 73
Deferred income taxes 18 (27)
Unrealized (gain) loss on derivatives (5) 1
Other asset impairment charges   (2)
Gain on sale of businesses and noncurrent assets (27)  
Non-cash portion of employee benefit obligations (10) (21)
Non-cash portion of operating lease expense 19 20
Amortization of OID and DIC 1 1
Loss on extinguishment of debt   1
Equity based compensation 4 4
Other non-cash items, net 2 (2)
Change in assets and liabilities:    
Accounts receivable, net (11) (51)
Inventories (115) (35)
Other current assets 9 (3)
Accounts payable 66 41
Operating lease payments (19) (19)
Income taxes payable/receivable (1) 25
Accrued and other current liabilities 59 13
Employee benefit obligation contributions (1)  
Other assets and liabilities 4 4
Net cash provided by operating activities 120 9
Cash used in investing activities    
Acquisition of property, plant and equipment (50) (60)
Acquisition of business, net of cash acquired (2)  
Disposal of businesses and joint venture equity interests, net of cash disposed 47 (6)
Net cash used in investing activities (5) (66)
Cash used in financing activities    
Long-term debt repayments (6) (62)
Premium on redemption of long-term debt   (1)
Dividends paid to common shareholders (18) (18)
Other financing activities (3)  
Net cash used in financing activities (27) (81)
Effect of exchange rate changes on cash and cash equivalents   (2)
Increase (decrease) in cash and cash equivalents 88 (140)
Cash and cash equivalents, including amounts classified as held for sale, as of beginning of the period 214 468
Cash and cash equivalents as of end of the period 302 328
Cash and cash equivalents are comprised of:    
Cash and cash equivalents 283 328
Cash and cash equivalents classified as assets held for sale 19 0
Cash and cash equivalents as of end of the period 302 328
Cash paid (received):    
Interest 22 20
Income taxes paid (refunded), net $ 19 $ (16)