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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net (loss) income $ (117) $ 30
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangible assets 184 193
Amortization and write-off of debt premiums, discounts and issuance costs 6 2
Allowances for losses on trade receivables and inventories 10 8
Deferred income taxes (19) (41)
Payments of accrued legal settlements 0 (3)
Share-based compensation 42 27
Foreign exchange loss 9 (6)
Gain excluded from hedge effectiveness (6) 0
Other (2) (29)
Changes in operating assets and liabilities:    
Trade receivables (74) (24)
Inventories (82) (74)
Prepaid expenses and other current assets (34) (2)
Accounts payable, accrued and other liabilities 3 78
Net cash (used in) provided by operating activities (80) 159
Cash Flows From Investing Activities    
Acquisitions and other investments (31) 0
Acquisitions of intangible assets (3) 0
Purchases of property, plant and equipment (64) (76)
Purchases of marketable securities (11) (14)
Proceeds from sale of marketable securities 10 14
Proceeds from sale of assets and businesses, net of costs to sell 1 0
Interest settlements from cross-currency swaps 6 0
Net cash used in investing activities (92) (76)
Cash Flows From Financing Activities    
Issuance of long-term debt, net of discounts 200 2,440
Repayments of debt (13) 0
Payment of employee withholding taxes related to share-based awards (6) 0
Payments of financing costs 0 (3)
Net borrowings under BHC pooled financing arrangements (Note 4) 0 31
Net transfers to BHC (Note 4) 0 (2,271)
Net cash provided by financing activities 181 197
Effect of exchange rate changes on cash and cash equivalents and restricted cash 3 (11)
Net increase in cash and cash equivalents and restricted cash 12 269
Cash and cash equivalents and restricted cash, beginning of period 380 177
Cash and cash equivalents and restricted cash, end of period 392 446
Non-cash Investing and Financing Activities    
Accrued purchases of property, plant and equipment 26 21
Issuance of BHC Purchase Debt (Note 4) $ 0 $ 2,200