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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 3 $ 83
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization expense 36 42
Stock compensation expense 11 6
Deferred tax expense (benefit) 2 (1)
Other 1 5
Changes in assets and liabilities    
Accounts receivable 162 (102)
Other assets (17) 11
Accounts payable (73) 95
Accrued expenses and other liabilities (59) 38
Net cash provided by operating activities 66 177
Investing activities    
Payment for purchases of property and equipment (28) (24)
Net cash used in investing activities (28) (24)
Financing activities    
Payment for tax withholdings related to vesting of stock compensation awards (9) 0
Repurchase of common stock (2) 0
Net transfers from XPO 0 30
Repayment of debt and finance leases (1) 0
Other (1) 0
Net cash (used in) provided by financing activities (13) 30
Effect of exchange rates on cash, cash equivalents and restricted cash 1 0
Net increase in cash, cash equivalents and restricted cash 26 183
Cash, cash equivalents, and restricted cash, beginning of period 98 29
Cash, cash equivalents, and restricted cash, end of period 124 212
Supplemental disclosure of cash flow information:    
Leased assets obtained in exchange for new operating lease liabilities 36 40
Cash paid for income taxes, net $ 21 $ 3