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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income (loss) $ 102 $ (49) $ 48
Less: Net income from discontinued operations 155 293 310
Net loss from continuing operations (53) (342) (262)
Depreciation 345 337 299
Amortization 12 13 16
Amortization of deferred financing charges 5 6 5
Write-off of deferred financing costs     1
Earnings of affiliates, net of dividends received (8) (7) 11
Stock compensation expense 40 30 26
Deferred income taxes (60) (76) (99)
Pension expense (benefit), net (2) 7 4
Change in working capital 29 33 15
Loss on disposal group previously held for sale 26
Change in other noncurrent assets and liabilities 1 63
Loss on divestiture of ownership interests (12)    
Other, net 32 (14) (11)
Net cash provided by operating activities from continuing operations 329 76 5
Net cash provided by operating activities from discontinued operations 183 374 471
Net cash provided by operating activities 512 450 476
Investing activities      
Purchases of property, plant and equipment (214) (312) (427)
Proceeds from sale of property, plant and equipment 13 7 2
Settlements of undesignated derivatives (25) (5) (13)
Proceeds from sale of investments 57    
Other, net 5 1
Net cash used in investing activities from continuing operations (169) (305) (437)
Net cash used in investing activities from discontinued operations (53) (47) (91)
Net cash used in investing activities (222) (352) (528)
Financing activities      
Net change in short-term debt 607 (14) (30)
Proceeds from long-term debt   1 458
Repayment of long-term debt (223) (37) (209)
Deferred financing payments     (9)
Dividends paid to common stockholders (54) (58) (58)
Repurchases of common stock (650)    
Distributions to noncontrolling interests (17) (20) (10)
Collection of note receivable from redeemable noncontrolling interest   11  
Contributions from redeemable noncontrolling interests   18 22
Swap settlements (14)    
Other, net (20) 9 (4)
Net cash provided by (used in) financing activities (371) (90) 160
Net increase (decrease) in cash, cash equivalents and restricted cash (81) 8 108
Cash, cash equivalents and restricted cash - beginning of period 512 563 442
Cash, cash equivalents and restricted cash - end of period 486 512 563
Effect of exchange rate changes on cash balances $ 55 $ (59) $ 13