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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ (54) $ (17) $ (983)
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:      
Depreciation and amortization 171 167 154
Amortization of right-of-use assets 29 24 21
Goodwill impairment 0 0 938
Gain on divestiture of a business 0 (73) 0
Share-based compensation expense 46 40 46
Benefit for deferred income taxes (22) (32) (64)
Amortization of debt issuance costs 6 6 5
Other 18 4 (9)
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable, net 15 (68) 13
Inventories, net (65) 106 (58)
Other assets and liabilities (59) (15) (52)
Accounts payable and accrued expenses 17 (89) 92
Net cash provided by (used for) operating activities 102 53 103
Cash flows from investing activities:      
Investments in property, equipment, and software (60) (58) (39)
Payments related to equity investments and business acquisitions, net of cash acquired (81) (54) (26)
Proceeds from divestiture of a business, net 0 103 0
Proceeds from sale of property and equipment 1 4 0
Net cash provided by (used for) investing activities (140) (5) (65)
Cash flows from financing activities:      
Proceeds from revolving line of credit 0 190 0
Repayment of revolving line of credit 0 (190) 0
Proceeds from issuance of debt 0 0 1,220
Principal payments of debt (30) (122) (43)
Debt issuance and amendment costs 0 (5) (24)
Dividend paid to Former Parent 0 0 (1,174)
Proceeds from share-based awards 8 12 6
Tax payments related to share-based awards (15) (2) (1)
Net transfers from Former Parent 0 0 165
Proceeds from issuance of Series A preferred stock 0 250 0
Series A preferred stock issuance costs 0 (6) 0
Series A preferred stock dividend 0 (6) 0
Distributions to non-controlling shareholders (2) 0 0
Deferred payments related to equity investments and business acquisitions (13) (17) (9)
Payments related to the buy-out of non-controlling interests in subsidiaries of Covetrus (14) 0 (74)
Net cash provided by (used for) financing activities (66) 104 66
Effect of exchange rate changes on cash and cash equivalents (3) 8 3
Net change in cash and cash equivalents (107) 160 107
Cash and cash equivalents, beginning of period 290 130 23
Cash and cash equivalents, end of period 183 290 130
Supplemental disclosures of cash payments:      
Interest 22 40 47
Income taxes 27 24 18
Amounts included in the measurement of operating lease liabilities 27 27 25
Supplemental disclosures of noncash investing and financing activities:      
Conversion of Series A preferred stock 0 245 0
Right-of-use assets obtained in exchange for new operating lease liabilities 51 56 104
Right-of-use assets obtained in exchange for new financing lease liabilities 2 0 1
Common stock issued in business acquisition 4 0 0
Deconsolidation of a subsidiary $ 0 $ 15 $ 0