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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Operating Activities        
Net Income $ 66 $ 15 $ 138 $ 88
Adjustments to reconcile net income to cash provided by operating activities —        
Depreciation and amortization of other intangibles 59 55 118 107
Deferred income taxes (8) (7) (9) 0
Stock-based compensation 2 2 7 11
Loss on sale of assets 2 0 5 1
Changes in components of working capital —        
Increase in receivables (16) (66) (239) (225)
Increase in inventories (19) (15) (53) (60)
Increase in prepayments and other current assets (25) (11) (70) (68)
(Decrease) increase in payables (22) (7) 167 86
Decrease in accrued taxes 0 (41) (3) (38)
Increase (decrease) in accrued interest 3 3 0 (2)
Increase in other current liabilities 33 160 30 152
Changes in long-term assets (5) 1 (14) 0
Changes in long-term liabilities 8 2 1 7
Other 0 1 0 2
Net cash provided by operating activities 78 92 78 61
Investing Activities        
Proceeds from sale of assets 3 3 5 6
Proceeds from sale of equity interest 0 9 0 9
Cash payments for plant, property, and equipment (80) (90) (164) (193)
Cash payments for software related intangible assets (5) (6) (10) (12)
Proceeds from deferred purchase price of factored receivables 32 27 66 49
Other 2 (4) 2 (4)
Net cash used by investing activities (48) (61) (101) (145)
Financing Activities        
Issuance (repurchase) of common shares under employee stock plans 1 0 (1) (3)
Cash dividends (12) (13) (25) (26)
Retirement of long-term debt (6) (2) (12) (8)
Issuance of long-term debt - net 0 136 0 136
Debt issuance cost for long-term debt (2) (8) (2) (8)
Purchase of common stock under the share repurchase program 0 (44) 0 (60)
Net decrease in bank overdrafts (3) (12) (7) (9)
Net (decrease) increase in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivable (29) (57) 48 60
Net increase (decrease) in short-term borrowings secured by accounts receivable 10 0 (20) 20
Distributions to noncontrolling interest partners (28) (33) (28) (33)
Net cash (used) provided by financing activities (69) (33) (47) 69
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (14) (7) (11) 1
Decrease in cash, cash equivalents and restricted cash (53) (9) (81) (14)
Cash, cash equivalents and restricted cash, beginning of period 290 344 318 349
Cash, cash equivalents and restricted cash, end of period (Note) 237 335 237 335
Supplemental Cash Flow Information        
Cash paid during the period for interest (net of interest capitalized) 17 16 40 38
Cash paid during the period for income taxes (net of refunds) 31 28 56 43
Non-cash Investing and Financing Activities        
Period end balance of trade payables for plant, property, and equipment 54 51 54 51
Deferred purchase price of receivables factored in the period $ 34 $ 27 $ 71 $ 53