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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 152 $ 122
Adjustment to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 136 136
Amortization of deferred financing costs and original issue discount 4 4
Debt extinguishment and refinancing-related costs 3 3
Deferred income taxes 8 1
Realized and unrealized foreign exchange losses, net 12 19
Stock-based compensation 14 14
Impairment charges 0 15
Interest income on swaps designated as net investment hedges (7) (6)
Other non-cash, net 5 0
Changes in operating assets and liabilities:    
Trade accounts and notes receivable (35) (194)
Inventories (22) 70
Prepaid expenses and other assets (91) (52)
Accounts payable 7 (12)
Other accrued liabilities (62) (40)
Other liabilities 24 (1)
Cash provided by operating activities 148 79
Investing activities:    
Purchase of property, plant and equipment (45) (74)
Interest proceeds on swaps designated as net investment hedges 7 6
Settlement proceeds on swaps designated as net investment hedges 0 29
Other investing activities, net 2 2
Cash used for investing activities (36) (37)
Financing activities:    
Proceeds from short-term borrowings 0 9
Proceeds from long-term borrowings 292 0
Payments on short-term borrowings (5) (26)
Payments on long-term borrowings (188) (157)
Financing-related costs (4) (6)
Purchases of common stock (50) 0
Net cash flows associated with stock-based awards 2 9
Deferred acquisition-related consideration 0 (8)
Other financing activities, net 1 0
Cash provided by (used for) financing activities 48 (179)
Increase (decrease) in cash 160 (137)
Effect of exchange rate changes on cash (20) 2
Cash at beginning of period 703 655
Cash at end of period 843 520
Cash at end of period reconciliation:    
Cash and cash equivalents 840 518
Restricted cash 3 2
Cash at end of period $ 843 $ 520