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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash provided by operating activities    
Net income $ 52 $ 74
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 28 26
Deferred income taxes (4) (6)
Stock compensation expense 2 2
Change in assets and liabilities:    
Accounts receivable, net (6) 9
Other receivables 3 4
Related party receivables (1) (2)
Inventories (64) (88)
Accounts payable 5 23
Related party payables 3 (4)
Income taxes payable / receivable 20 29
Accrued and other current liabilities (18) (50)
Other assets and liabilities (1) (8)
Net cash provided by operating activities 19 9
Cash used in investing activities    
Acquisition of property, plant and equipment (28) (23)
Net cash used in investing activities (28) (23)
Cash used in financing activities    
Repayment of long-term debt (6) (106)
Dividends paid (48) (48)
Net cash used in financing activities (54) (154)
Net decrease in cash and cash equivalents (63) (168)
Cash and cash equivalents at beginning of period 164 312
Cash and cash equivalents at end of period $ 101 $ 144