XML 23 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income (loss) $ (114) $ 24
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 167 306
Stock-based compensation expense 27 68
Deferred income taxes (8) 15
Impairment of other assets 5 1
Loss (gain) on disposal of property, plant and equipment and other assets 0 1
(Gain) loss on divestiture (14) (8)
Changes in assets and liabilities, net of effects of business acquired:    
Receivables 61 96
Inventories 31 21
Current payables and accrued expenses (52) (104)
Contract liabilities 41 25
Employee benefit plans (3) (24)
Other assets and liabilities (114) 117
Net cash provided by (used in) operating activities 27 538
Investing activities    
Expenditures for property, plant and equipment (21) (70)
Proceeds from sale of property, plant and equipment and other assets 0 8
Additions to capitalized software (104) (134)
Business acquisitions, net of cash acquired 0 (6)
Proceeds from divestiture 14 8
Proceeds from disposition of corporate-owned life insurance policies 30 0
Net cash provided by (used in) investing activities (81) (194)
Financing activities    
Payments on term credit facilities (8) (50)
Payments on revolving credit facilities (374) (927)
Borrowings on revolving credit facilities 412 732
Payments on other financing arrangements 0 (2)
Cash dividend paid for Series A preferred shares dividends (8) (8)
Proceeds from employee stock plans 7 14
Tax withholding payments on behalf of employees (9) (16)
Principal payments for finance lease obligations (5) (9)
Net cash provided by (used in) financing activities 15 (266)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (14) (8)
Increase (decrease) in cash, cash equivalents, and restricted cash (53) 70
Cash, cash equivalents and restricted cash at beginning of period 285 740
Cash, cash equivalents and restricted cash at end of period $ 232 $ 810