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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net earnings $ 58 $ 68
Depreciation and amortization 13 16
Pension and postretirement income (73) (72)
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives 0 2
Non-cash changes in workers' compensation and employee benefit reserves (1) 0
Stock based compensation 4 5
Net gain from sale of assets (17) (1)
(Benefit) provision from deferred income taxes (1) 1
Decrease in trade receivables 51 17
(Increase) decrease in miscellaneous receivables (1) 7
Increase in inventories (18) (11)
Decrease in trade payables (1) (7)
Decrease in liabilities excluding borrowings and trade payables (22) (9)
Other items, net 18 5
Total adjustments (48) (47)
Net cash provided by operating activities 10 21
Cash flows from investing activities:    
Additions to properties (19) (11)
Proceeds from sale of assets 17 0
Net cash used in investing activities (2) (11)
Cash flows from financing activities:    
Preferred stock cash dividend payments (2) (2)
Treasury stock purchases (1) 0
Net cash used in financing activities (20) (2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5) (2)
Net (decrease) increase in cash, cash equivalents and restricted cash (17) 6
Cash, cash equivalents and restricted cash, beginning of period 377 286
Cash, cash equivalents and restricted cash, end of period [1] 360 292
Amended and Restated Term Loan Agreement [Member]    
Cash flows from financing activities:    
Repayment of Amended and Restated Term Loan Agreement $ (17) $ 0
[1] Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash.