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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash provided by operating activities    
Net income $ 105 $ 145
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 65 63
Deferred income taxes (8) 0
Stock compensation expense 11 9
Change in assets and liabilities:    
Accounts receivable, net 11 (23)
Other receivables (4) 2
Related party receivables (1) 0
Inventories (63) (60)
Accounts payable 49 92
Related party payables (9) (5)
Income taxes payable / receivable (4) (22)
Accrued and other current liabilities (18) (21)
Other assets and liabilities 13 3
Net cash provided by operating activities 147 183
Cash used in investing activities    
Acquisition of property, plant and equipment (79) (48)
Net cash used in investing activities (79) (48)
Cash used in financing activities    
Repayment of long-term debt (54) (50)
Dividends paid (96) (96)
Proceeds from term loan refinancing [1] 743 0
Repayments of existing term loan [1] (743) 0
Other financing activities 2 (3)
Net cash used in financing activities (148) (149)
Net decrease in cash and cash equivalents (80) (14)
Cash and cash equivalents at beginning of period 137 115
Cash and cash equivalents at end of period 57 101
Cash paid:    
Interest - long-term debt, net of interest rate swaps 41 51
Income taxes $ 39 $ 56
[1] Represents cash inflows and outflows due to changes in term loan lender composition.