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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 32 $ 33
Depreciation and amortization 7 8
Pension and postretirement income (36) (36)
Change in fair value of the Preferred Stock and Convertible Notes embedded derivatives 0 1
Non-cash changes in workers' compensation and employee benefit reserves (1) 1
Stock based compensation 3 4
Net gain from sale of assets (17) 0
Provision for deferred income taxes 1 0
Decrease in trade receivables 53 12
(Increase) decrease in miscellaneous receivables (2) 7
Increase in inventories (15) (13)
Increase in trade payables 7 3
Decrease in liabilities excluding borrowings and trade payables (19) (13)
Other items, net 4 7
Total adjustments (15) (19)
Net cash provided by operating activities 17 14
Cash flows from investing activities:    
Additions to properties (10) (5)
Proceeds from sale of assets 17 0
Net cash provided by (used in) investing activities 7 (5)
Cash flows from financing activities:    
Preferred stock cash dividend payments (1) (1)
Net cash used in financing activities (18) (1)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) 0
Net increase in cash, cash equivalents and restricted cash 3 8
Cash, cash equivalents and restricted cash, beginning of period 377 286
Cash, cash equivalents and restricted cash, end of period [1] 380 294
Amended and Restated Term Loan Agreement [Member]    
Cash flows from financing activities:    
Repayment of Amended and Restated Term Loan Agreement $ (17) $ 0
[1] Refer to Note 2, “Cash, Cash Equivalents and Restricted Cash” for the components of cash, cash equivalents and restricted cash.