XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash provided by operating activities    
Net income $ 17 $ 52
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 30 28
Deferred income taxes (9) (4)
Stock compensation expense 3 2
Change in assets and liabilities:    
Accounts receivable, net 6 (6)
Other receivables 12 3
Related party receivables (11) (1)
Inventories 40 (64)
Accounts payable (15) 5
Related party payables 19 3
Income taxes payable / receivable 12 20
Accrued and other current liabilities (15) (18)
Other assets and liabilities (1) (1)
Net cash provided by operating activities 88 19
Cash used in investing activities    
Acquisition of property, plant and equipment (22) (28)
Net cash used in investing activities (22) (28)
Cash used in financing activities    
Repayment of long-term debt (6) (6)
Dividends paid (48) (48)
Net cash used in financing activities (54) (54)
Net increase (decrease) in cash and cash equivalents 12 (63)
Cash and cash equivalents at beginning of period 38 164
Cash and cash equivalents at end of period 50 101
Cash paid:    
Interest $ 28 $ 10