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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 33 $ 380 $ 319
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 196 182 173
Amortization 11 14 16
Amortization of deferred debt issuance costs 4 4 0
Impairment of assets 35 1 12
Restructuring expense, net of cash paid 31 (32) 10
Deferred income taxes 9 (108) (7)
Pension and other postretirement benefit expenses 12 43 47
Income from equity method investments, net of dividends received (4) (7) (5)
Gain on sale of assets (5) (3) 0
Share-based compensation 17 9 17
Changes in operating assets and liabilities:      
Accounts receivable, net 57 162 (271)
Inventories 74 (24) (124)
Other assets 10 (49) (82)
Accounts payable (117) (97) 201
Accrued and other long-term liabilities (27) 27 148
Other, net 7 (36) (18)
Pension contributions (51) (47) (48)
Net cash provided by operating activities 292 419 388
Cash flows from investing activities:      
Capital expenditures (371) (265) (197)
Proceeds from sale of property 12 5 10
Cost of technology investments 0 (7) (1)
Proceeds from insurance settlement claims 0 1 1
Settlement of undesignated derivatives (2) (8) 0
Net cash used in investing activities (361) (274) (187)
Cash flows from financing activities:      
Net repayments under other short-term debt agreements (3) (2) 0
Repayments under long-term debt agreements (37) (19) 0
Proceeds from issuance of senior notes, net of discount and issuance costs 0 0 782
Proceeds from issuance of credit agreement, net of issuance costs 0 0 741
Dividend payments of consolidated affiliates to minority shareholders (11) (12) (10)
Distribution of cash dividends 0 (60) 0
Taxes withheld and paid on employees’ restricted share awards (2) (5) 0
Repurchase of ordinary shares (45) (10) 0
Cash distributions paid to Former Parent 0 0 (1,328)
Other net transfers to Former Parent 0 0 (160)
Net cash (used in) provided by financing activities (98) (108) 25
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (2) (16) 12
(Decrease) increase in cash, cash equivalents and restricted cash (169) 21 238
Cash, cash equivalents and restricted cash at beginning of the year 360 339 101
Cash, cash equivalents and restricted cash at end of the year $ 191 $ 360 $ 339