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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash provided by operating activities    
Net income $ 49 $ 17
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 32 30
Deferred income taxes (1) (9)
Stock compensation expense 4 3
Change in assets and liabilities:    
Accounts receivable, net 17 6
Other receivables 0 12
Related party receivables 0 (11)
Inventories (45) 40
Accounts payable 77 (15)
Related party payables (4) 19
Income taxes payable / receivable 15 12
Accrued and other current liabilities (45) (15)
Other assets and liabilities 0 (1)
Net cash provided by operating activities 99 88
Cash used in investing activities    
Acquisition of property, plant and equipment (29) (22)
Net cash used in investing activities (29) (22)
Cash used in financing activities    
Repayment of long-term debt 0 (6)
Dividends paid (48) (48)
Other financing activities (2) 0
Net cash used in financing activities (50) (54)
Net increase in cash and cash equivalents 20 12
Cash and cash equivalents at beginning of period 115 38
Cash and cash equivalents at end of period 135 50
Cash paid:    
Interest - long-term debt, net of interest rate swaps $ 25 $ 28