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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income (loss) $ 121 $ (135)
Depreciation 180 169
Amortization 12 9
Amortization of deferred financing charges 3 4
Redemption premium on debt 21  
Write-off of deferred financing costs 3 5
Earnings of affiliates, net of dividends received (7) 11
Stock compensation expense 9 3
Deferred income taxes (28) (8)
Pension expense, net   2
Impairment of goodwill   51
Change in working capital (239) (228)
Other, net 19 (9)
Net cash provided by (used in) operating activities 94 (126)
Investing activities    
Purchases of property, plant and equipment (133) (121)
Acquisition of businesses, net of cash acquired (18) (6)
Proceeds from sale of subsidiary, net of cash disposed (4)  
Purchases of marketable securities (16) (15)
Proceeds from sales and maturities of marketable securities 13 13
Other, net 4 (7)
Net cash used in investing activities (180) (141)
Financing activities    
Net change in short-term debt (6) (8)
Proceeds from long-term debt 800 510
Repayment of long-term debt (803) (3)
Redemption premium on debt (21)  
Deferred financing payments (13) (11)
Dividends paid to common stockholders (29) (15)
Distributions to noncontrolling interests (2) (3)
Sale of interest to noncontrolling shareholder   7
Contributions from noncontrolling interests 3 2
Payments to acquire noncontrolling interests   (1)
Other, net   (2)
Net cash provided by (used in) financing activities (71) 476
Net increase (decrease) in cash, cash equivalents and restricted cash (157) 209
Cash, cash equivalents and restricted cash – beginning of period 567 518
Effect of exchange rate changes on cash balances (7) (25)
Cash, cash equivalents and restricted cash – end of period (Note 5) 403 702
Non-cash investing activity    
Purchases of property, plant and equipment held in accounts payable 66 57
Not Designated as Hedging Instrument [Member]    
Investing activities    
Settlements of derivatives (4) $ (5)
Currency Swap [Member]    
Investing activities    
Settlements of derivatives $ (22)