Supplementary Information

12 Months Ended

Dec. 31, 2016

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information Related Text

Supplementary Information

Cash paid for interest and income taxes was as follows:

	Year Ended December 31,
(Dollars in millions)	2016		2015		2014
Interest paid, net of capitalized interest	$	467	$	477	$	511
Income taxes paid, net of refunds	161		331		386

In 2016, currency devaluation charges reflect the impact of the devaluation of $41 million related to the Angolan kwanza and Egyptian pound. Currency devaluation charges are included in “Currency Devaluation Charges” on the accompanying Consolidated Statements of Operations.

In 2015, currency devaluation charges reflect the impacts of the devaluation of the Angolan kwanza and Argentine peso and the recognized remeasurement charges related to the Venezuelan bolivar and the Kazakhstani tenge resulting in a $85 million pre-tax charge of which $43 million negatively impacted cash. The Angolan kwanza charges reflect currency devaluations in 2015 and the Kazakhstan tenge depreciated as a result of the National Bank of Kazakhstan abandoning its peg of the tenge to the U.S. dollar. The devaluation of the Argentine peso was due to the modifying of currency control restrictions on purchasing foreign currencies by the Argentine Central Bank. The Venezuelan bolivar charge reflects remeasurement charges when we began using the latest Venezuelan currency exchange system known as the “Marginal Currency System” or SIMADI. The SIMADI opened for trading February 12, 2015, replacing the Venezuela Supplementary Foreign Currency Administration System auction rate (“SICAD II”) mechanism. The SIMADI is intended to provide limited access to a free market rate of exchange.

In December 2014, we remeasured our Venezuelan bolivar denominated monetary assets and liabilities (primarily cash, accounts receivables, trade payables and other current liabilities) to the SICAD II exchange rate of 50 Venezuelan bolivars per U.S. dollar resulting in a $245 million pre-tax charge of which $92 million was related to the remeasurement of cash held in Venezuelan bolivar.

During 2016, 2015 and 2014 we received proceeds from the asset disposition totaling $49 million, $37 million and $59 million, respectively. In 2016, we had non-cash investing and financing activities related to capital lease of equipment of $25 million.