XML 99 R6.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income (loss) $ (826) $ (105)
Adjustments to reconcile net income (loss) to cash (used) provided by operating activities:    
Goodwill and intangible impairment charges 383 60
Depreciation and amortization 171 169
Deferred income taxes (166) (8)
Stock-based compensation 2 7
Restructuring charges and asset impairments, net of cash paid 454 (14)
Change in pension and other postretirement benefit plans (19) (17)
Equity in earnings of nonconsolidated affiliates (13) (16)
Cash dividends received from nonconsolidated affiliates 13 15
Changes in operating assets and liabilities:    
Receivables 139 (312)
Inventories (73) 11
Payables and accrued expenses (136) 157
Accrued interest and accrued income taxes 29 (38)
Other assets and liabilities (110) (59)
Net cash (used) provided by operating activities (152) (150)
Investing Activities    
Acquisitions, net of cash acquired 0 (158)
Proceeds from sale of assets 2 1
Net proceeds from sale of business 0 22
Cash payments for property, plant, and equipment (137) (210)
Proceeds from deferred purchase price of factored receivables 56 60
Other 2 2
Net cash (used) provided by investing activities (77) (283)
Financing Activities    
Proceeds from term loans and notes 67 28
Repayments of term loans and notes (84) (64)
Debt issuance costs of long-term debt (8) 0
Borrowings on revolving lines of credit 3,161 2,119
Payments on revolving lines of credit (2,659) (1,981)
Issuance (repurchase) of common shares (1) (2)
Cash dividends 0 (20)
Net increase (decrease) in bank overdrafts (2) (1)
Other 11 (3)
Distributions to noncontrolling interest partners (2) (1)
Net cash (used) provided by financing activities 483 75
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (50) 19
Increase (decrease) in cash, cash equivalents and restricted cash 204 (339)
Cash, cash equivalents and restricted cash, beginning of period 566 702
Cash, cash equivalents and restricted cash, end of period 770 363
Supplemental Cash Flow Information    
Cash paid during the period for interest 67 74
Cash paid during the period for income taxes, net of refunds 41 43
Lease assets obtained in exchange for new operating lease liabilities 51 19
Non-cash Investing Activities    
Period end balance of accounts payable for property, plant, and equipment 96 101
Deferred purchase price of receivables factored in the period 60 58
Reduction in assets from redeemable noncontrolling interest transaction with owner $ 53 $ 0