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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 123 $ 99
Less: Income from discontinued operations, net of tax 1 0
Income from continuing operations 122 99
Adjustments to income from continuing operations to arrive at cash provided by (used for) operating activities:    
Depreciation and amortization 50 52
Deferred income tax expense 0 2
Restructuring costs 4 8
Stock compensation expense 8 10
Equity in earnings of affiliates (18) (16)
Pension and retiree medical income (27) (26)
Loss on debt extinguishment 0 8
Dividends received from equity method investments 5 2
Pension and retiree medical contributions (4) (6)
Restructuring payments (8) (8)
Changes in off-balance sheet accounts receivable securitization and factoring programs 88 35
Changes in receivables, inventories and accounts payable (225) (63)
Changes in other current assets and liabilities (20) 5
Changes in other assets and liabilities (10) 5
Operating cash flows provided by (used for) continuing operations (35) 107
Operating cash flows used for discontinued operations (3) 0
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES (38) 107
INVESTING ACTIVITIES    
Capital expenditures (39) (26)
Other investing activities 5 (3)
CASH USED FOR INVESTING ACTIVITIES (34) (29)
FINANCING ACTIVITIES    
Borrowing and securitization 95 0
Redemption of notes 0 (281)
Proceeds from debt issuance 0 275
Redemption of convertible notes 0 (53)
Debt issuance costs 0 (5)
Term loan payments (9) (7)
Other financing activities 0 (1)
Net change in debt 86 (72)
Repurchase of common stock 0 0
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES 86 (72)
EFFECT OF CHANGES IN FOREIGN CURRENCY EXCHANGE RATES ON CASH AND CASH EQUIVALENTS 0 0
CHANGE IN CASH AND CASH EQUIVALENTS 14 6
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 101 315
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 115 $ 321