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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash provided by operating activities    
Net income $ 145 $ 83
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 63 61
Deferred income taxes 0 2
Stock compensation expense 9 6
Change in assets and liabilities:    
Accounts receivable, net (23) (38)
Other receivables 2 11
Related party receivables 0 0
Inventories (60) 108
Accounts payable 92 (15)
Related party payables (5) (12)
Income taxes payable / receivable (22) (11)
Accrued and other current liabilities (21) 19
Other assets and liabilities 3 (7)
Net cash provided by operating activities 183 207
Cash used in investing activities    
Acquisition of property, plant and equipment (48) (51)
Net cash used in investing activities (48) (51)
Cash used in financing activities    
Repayment of long-term debt (50) (12)
Dividends paid (96) (96)
Other financing activities (3) (3)
Net cash used in financing activities (149) (111)
Net (decrease) increase in cash and cash equivalents (14) 45
Cash and cash equivalents at beginning of period 115 38
Cash and cash equivalents at end of period 101 83
Cash paid:    
Interest - long-term debt, net of interest rate swaps 51 58
Income taxes $ 56 $ 36