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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 30 $ 121
Depreciation 182 180
Amortization 11 12
Amortization of deferred financing charges 3 3
Redemption premium on debt   21
Write-off of deferred financing costs   3
Earnings of affiliates, net of dividends received 29 (7)
Stock compensation expense 8 9
Deferred income taxes (42) (28)
Change in working capital (84) (239)
Other, net (1) 19
Net cash provided by operating activities 136 94
Investing activities    
Purchases of property, plant and equipment (206) (133)
Acquisition of businesses, net of cash acquired (1) (18)
Proceeds from sale of subsidiary, net of cash disposed   (4)
Purchases of marketable securities (13) (16)
Proceeds from sales and maturities of marketable securities (10) (13)
Other, net 2 4
Net cash used in investing activities (215) (180)
Financing activities    
Net change in short-term debt 214 (6)
Proceeds from long-term debt 2 800
Repayment of long-term debt (5) (803)
Redemption premium on debt   (21)
Deferred financing payments   (13)
Dividends paid to common stockholders (29) (29)
Repurchases of common stock (25)  
Distributions to noncontrolling interests (2) (2)
Contributions from redeemable noncontrolling interests 7 3
Payments to acquire noncontrolling interests (4)  
Other, net (6)  
Net cash provided by (used in) financing activities 152 (71)
Net increase (decrease) in cash, cash equivalents and restricted cash 73 (157)
Cash, cash equivalents and restricted cash – beginning of period 287 567
Effect of exchange rate changes on cash balances (20) (7)
Cash, cash equivalents and restricted cash – end of period (Note 5) 340 403
Non-cash investing activity    
Purchases of property, plant and equipment held in accounts payable 69 66
Not Designated as Hedging Instrument [Member]    
Investing activities    
Settlement of derivatives $ (7) (4)
Currency Swap [Member]    
Investing activities    
Settlement of derivatives   $ (22)