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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash provided by operating activities    
Net income $ 231 $ 161
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 96 92
Deferred income taxes (10) (3)
Stock compensation expense 14 10
Change in assets and liabilities:    
Accounts receivable, net 8 3
Other receivables 4 11
Related party receivables 1 (2)
Inventories (100) 146
Accounts payable 119 (5)
Related party payables (6) (16)
Income taxes payable / receivable (20) (11)
Accrued and other current liabilities (26) 39
Other assets and liabilities (4) (2)
Net cash provided by operating activities 307 423
Cash used in investing activities    
Acquisition of property, plant and equipment (79) (77)
Net cash used in investing activities (79) (77)
Cash used in financing activities    
Repayment of long-term debt (100) (113)
Dividends paid (144) (144)
Other financing activities (3) (3)
Net cash used in financing activities (247) (260)
Net (decrease) increase in cash and cash equivalents (19) 86
Cash and cash equivalents at beginning of period 115 38
Cash and cash equivalents at end of period 96 124
Cash paid:    
Interest - long-term debt, net of interest rate swaps 76 86
Income taxes $ 91 $ 65