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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities:    
Net (loss) income $ (258) $ 514
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation, depletion and amortization 206 201
Deferred income taxes 314 (241)
Share-based compensation expense 15 21
Amortization of deferred debt issuance costs and discount on debt 6 6
Loss on extinguishment of debt 0 21
Other non-cash items affecting net (loss) income 34 51
Changes in assets and liabilities:    
Decrease in accounts receivable, net of allowance for credit losses 84 7
Increase in inventories, net (141) (151)
Decrease in prepaid and other assets 5 16
Decrease in accounts payable and accrued liabilities (154) (55)
Net changes in income tax payables and receivables (5) 17
Changes in other non-current assets and liabilities (32) (49)
Cash provided by operating activities 74 358
Cash Flows from Investing Activities:    
Capital expenditures (202) (314)
Proceeds from sale of assets 3 3
Cash used in investing activities (199) (311)
Cash Flows from Financing Activities:    
Repayments of short-term debt (136) (24)
Repayments of long-term debt (13) (511)
Proceeds from long-term debt 347 396
Proceeds from short-term debt 81 87
Repurchase of common stock 0 (50)
Call premiums paid 0 (18)
Debt issuance costs (3) (4)
Dividends paid (69) (60)
Cash provided by (used in) financing activities 207 (184)
Effects of exchange rate changes on cash and cash equivalents 0 (4)
Net increase (decrease) in cash and cash equivalents 82 (141)
Cash and cash equivalents at beginning of period 164 232
Cash and cash equivalents at end of period 246 91
Supplemental cash flow information:    
Interest paid, net 113 99
Income taxes paid $ 29 $ 37