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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 150 $ 115
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 122 120
Stock-based compensation expense 10 8
Below market intangible amortization (12) (13)
Net loss on disposal of property, plant and equipment 2 1
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable 93 9
Inventories (137) (11)
Accounts payable 48 47
Accrued income taxes 16 13
Accrued liabilities and customer deposits (66) 26
Other assets and liabilities (65) (23)
Net cash provided by operating activities 161 292
Investing Activities    
Purchase of property, plant and equipment (20) (27)
Proceeds from disposal of property, plant and equipment 2 6
Acquisitions of businesses, net of cash acquired 0 (401)
Net cash used for investing activities (18) (422)
Financing Activities    
Proceeds from debt, net of issuance costs 2,012 1,435
Payments of debt (1,817) (1,398)
Repurchase of stock (296) (1)
Cash dividends (28) (23)
Other financing activities (4) (5)
Net cash (used for) provided by financing activities (133) 8
Effect of changes in currency exchange rates 5 7
Increase (decrease) in cash 15 (115)
Cash and cash equivalents, beginning of period 473 599
Cash and cash equivalents, end of period $ 488 $ 484