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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash provided by operating activities    
Net income $ 83 $ 104
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 61 57
Deferred income taxes 2 (3)
Stock compensation expense 6 4
Change in assets and liabilities:    
Accounts receivable, net (38) 57
Other receivables 11 4
Related party receivables 0 3
Inventories 108 (151)
Accounts payable (15) 22
Related party payables (12) 8
Income taxes payable / receivable (11) (2)
Accrued and other current liabilities 19 12
Other assets and liabilities (7) (14)
Net cash provided by operating activities 207 101
Cash used in investing activities    
Acquisition of property, plant and equipment (51) (56)
Net cash used in investing activities (51) (56)
Cash used in financing activities    
Repayment of long-term debt (12) (12)
Dividends paid (96) (96)
Other financing activities (3) 0
Net cash used in financing activities (111) (108)
Net increase (decrease) in cash and cash equivalents 45 (63)
Cash and cash equivalents at beginning of period 38 164
Cash and cash equivalents at end of period 83 101
Cash paid:    
Interest 58 24
Income taxes $ 36 $ 37