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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income (loss) $ 171 $ (90)
Depreciation 272 257
Amortization 18 15
Amortization of deferred financing charges 5 6
Redemption premium on debt 21  
Write-off of deferred financing costs 3 5
Earnings of affiliates, net of dividends received (11) 5
Stock compensation expense 15 5
Deferred income taxes 8 (28)
Pension expense, net   3
Impairment of goodwill   51
Change in working capital (501) (50)
Other, net 18 16
Net cash provided by operating activities 19 195
Investing activities    
Purchases of property, plant and equipment (228) (181)
Acquisition of businesses, net of cash acquired (18) (6)
Investments in affiliates (23) (4)
Proceeds from sale of subsidiary, net of cash disposed (4)  
Purchases of marketable securities (25) (36)
Proceeds from sales of marketable securities 30 5
Proceeds from maturities of marketable securities 27 27
Other, net 5 7
Net cash used in investing activities (260) (193)
Financing activities    
Net change in short-term debt 43 (2)
Proceeds from long-term debt 802 512
Repayment of long-term debt (805) (12)
Redemption premium on debt (21)  
Deferred financing payments (13) (13)
Dividends paid to common stockholders (44) (15)
Distributions to noncontrolling interests (10) (10)
Sale of interest to noncontrolling shareholder   7
Contributions from noncontrolling interests 6 3
Deconsolidation of non-wholly owned subsidiary (6)  
Payments to acquire noncontrolling interests   (1)
Repurchases of common stock (23)  
Other, net   (3)
Net cash provided by (used in) financing activities (71) 466
Net increase (decrease) in cash, cash equivalents and restricted cash (312) 468
Cash, cash equivalents and restricted cash – beginning of period 567 518
Effect of exchange rate changes on cash balances (16) (20)
Cash, cash equivalents and restricted cash – end of period (Note 5) 239 966
Non-cash investing activity    
Purchases of property, plant and equipment held in accounts payable 75 54
Not Designated as Hedging Instrument [Member]    
Investing activities    
Settlements of derivatives (2) $ (5)
Currency Swap [Member]    
Investing activities    
Settlements of derivatives $ (22)