XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net (loss) income $ (244) $ 391
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation, depletion and amortization 139 135
Deferred income taxes 310 (240)
Share-based compensation expense 11 14
Amortization of deferred debt issuance costs and discount on debt 4 4
Loss on extinguishment of debt 0 21
Other non-cash items affecting net (loss) income 26 22
Changes in assets and liabilities:    
Increase in accounts receivable, net of allowance for credit losses (1) (21)
Increase in inventories, net (131) (80)
Decrease (increase) in prepaid and other assets 9 (3)
(Decrease) increase in accounts payable and accrued liabilities (43) 8
Net changes in income tax payables and receivables (4) 2
Changes in other non-current assets and liabilities (19) (32)
Cash provided by operating activities 57 221
Cash Flows from Investing Activities:    
Capital expenditures (148) (202)
Proceeds from sale of assets 3 1
Cash used in investing activities (145) (201)
Cash Flows from Financing Activities:    
Repayments of short-term debt (50) (15)
Repayments of long-term debt (9) (507)
Proceeds from long-term debt 0 396
Proceeds from short-term debt 201 87
Repurchase of common stock 0 (41)
Call premiums paid 0 (18)
Debt issuance costs 0 (4)
Dividends paid (50) (41)
Cash provided by (used in) financing activities 92 (143)
Effects of exchange rate changes on cash and cash equivalents (1) 5
Net increase (decrease) in cash and cash equivalents 3 (118)
Cash and cash equivalents at beginning of period 164 232
Cash and cash equivalents at end of period 167 114
Supplemental cash flow information:    
Interest paid, net 61 60
Income taxes paid $ 24 $ 33