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Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities:    
Net income attributable to the controlling and noncontrolling interests $ 818 $ 348
Income from discontinued operations, net of tax 0 (3)
Income from continuing operations 818 345
Adjustments to reconcile net income to cash from operations:    
Depreciation and amortization 266 252
Pension (income) expense (19) 20
Environmental remediation charges 26 12
Business restructuring, net (21) 172
Stock-based compensation expense 35 15
Equity affiliate income, net of dividends 2 (4)
Deferred income taxes 61 (8)
Cash contributions to pension plans (2) (5)
Cash used for restructuring actions (48) (34)
Change in certain asset and liability accounts (net of acquisitions):    
Receivables (480) 92
Inventories (280) (29)
Other current assets 8 18
Accounts payable and accrued liabilities 392 (347)
Taxes and interest payable (60) (58)
Noncurrent assets and liabilities, net (53) 5
Other (60) (133)
Cash from operating activities - continuing operations 581 321
Cash from operating activities - discontinued operations 0 1
Cash from for operating activities 581 322
Investing activities:    
Capital expenditures (142) (92)
Business acquisitions, net of cash balances acquired (2,126) (45)
Payments for the settlement of cross currency swap contracts (3) (3)
Proceeds from the settlement of cross currency swap contracts 10 12
Other 19 17
Cash used for investing activities (2,242) (111)
Financing activities:    
Net change in borrowing with maturities of three months or less 0 (7)
Proceeds from Long-term Lines of Credit 699 0
Proceeds on commercial paper and short-term debt, net of payments 561 1,434
Repayment of term loan (400) 0
Proceeds from revolving credit facility 0 800
Repayment of revolving credit facility 0 (800)
Proceeds from the issuance of debt, net of discounts and fees 692 296
Repayment of long-term debt (172) (506)
Repayment of acquired debt 86 9
Issuance of treasury stock 44 6
Dividends paid on PPG common stock (256) (241)
Payments related to tax withholding on stock-based compensation awards (17) (8)
Other (11) (38)
Cash from financing activities 1,054 927
Effect of currency exchange rate changes on cash and cash equivalents (24) (102)
Net (decrease)/increase in cash and cash equivalents (631) 1,036
Cash and cash equivalents, beginning of period 1,826 1,216
Cash and cash equivalents, end of period 1,195 2,252
Interest paid, net of amount capitalized 69 82
Taxes paid, net of refunds $ 276 $ 187