XML 17 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net Income $ 73 $ 72
Adjustments to reconcile net income to cash used by operating activities —    
Depreciation and amortization of other intangibles 52 54
Deferred income taxes 7 3
Stock-based compensation 9 7
Loss on sale of assets 1 0
Changes in components of working capital —    
(Increase) decrease in receivables (137) (160)
(Increase) decrease in inventories (45) (51)
(Increase) decrease in prepayments and other current assets (57) (19)
Increase (decrease) in payables 93 57
Increase (decrease) in accrued taxes 3 15
Increase (decrease) in accrued interest (5) 12
Increase (decrease) in other current liabilities (8) (17)
Changes in long-term assets (1) 3
Changes in long-term liabilities 5 (6)
Other 1 1
Net cash used by operating activities (9) (29)
Investing Activities    
Proceeds from sale of assets 3 1
Cash payments for plant, property, and equipment (103) (68)
Cash payments for software related intangible assets (6) (6)
Changes in restricted cash (1) (1)
Net cash used by investing activities (107) (74)
Financing Activities    
Repurchase of common shares (3) (2)
Cash dividends (13) 0
Retirement of long-term debt (6) (4)
Issuance of long-term debt 0 5
Purchase of common stock under the share repurchase program (16) (16)
Net increase in bank overdrafts 3 7
Net increase in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivable 117 193
Net increase in short-term borrowings secured by accounts receivable 20 0
Net cash provided by financing activities 102 183
Effect of foreign exchange rate changes on cash and cash equivalents 8 7
Increase (decrease) in cash and cash equivalents (6) 87
Cash and cash equivalents, January 1 347 287
Cash and cash equivalents, March 31 (Note) 341 374
Supplemental Cash Flow Information    
Cash paid during the period for interest (net of interest capitalized) 22 6
Cash paid during the period for income taxes (net of refunds) 15 21
Non-cash Investing and Financing Activities    
Period end balance of trade payables for plant, property, and equipment $ 50 $ 41