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Consolidated Statement of Cash Flow - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
NET EARNINGS (LOSS) $ 16 $ (75) $ (118)
Adjustments to reconcile to net cash used in operating activities:      
Depreciation and amortization 105 145 199
Pension and other postretirement income (147) (107) (78)
Non-cash restructuring costs, asset impairments and other charges 20 9 13
Loss on deconsolidation of RED [1] 15    
Stock based compensation 8 18 8
Non-cash changes in employee benefit reserves (8) (25) 6
Net gains on sales of businesses/assets (9) (4) (23)
Gain on assets acquired for no monetary consideration   (3)  
Foreign exchange loss from remeasurement of Venezuela monetary assets     16
Reorganization items:      
Payment of claims   (10) (2)
Other non-cash reorganization items, net (7) 4 8
Loss on early extinguishment of debt 4    
Provision for deferred income taxes 15 6 5
Decrease in receivables 37 15 143
Decrease in inventories 16 12 4
Increase (decrease) in trade accounts payable 13 3 (64)
Decrease in liabilities excluding borrowings (74) (104) (249)
Other items, net (17) 21 4
Total adjustments (29) (20) (10)
Net cash used in operating activities (13) (95) (128)
Cash flows from investing activities:      
Additions to properties (41) (43) (43)
Net proceeds from sales of businesses/assets, net 13 2 18
Release (funding) of restricted cash 8 (10) 68
Reduction in cash due to deconsolidation of RED (3)    
Marketable securities – sales 2    
Marketable securities – purchases     (2)
Net cash (used in) provided by investing activities (21) (51) 41
Cash flows from financing activities:      
Repayment of emergence credit facilities (282) (4) (4)
Net proceeds from the issuance of preferred stock 198    
Net proceeds of other borrowings   5 1
Equity transactions of noncontrolling interests 15 (1) (3)
Treasury stock purchases (3) (1) (1)
Payment of contingent consideration related to the sale of a business (4)    
Proceeds from sale leaseback transactions 4    
Net cash used in financing activities (72) (1) (7)
Effect of exchange rate changes on cash (7) (18) (38)
Net decrease in cash and cash equivalents (113) (165) (132)
Cash and cash equivalents, beginning of period 547 [2] 712 [2] 844
Cash and cash equivalents, end of period [2] 434 547 712
Cash paid for interest and income taxes was:      
Interest, net of portion capitalized of $0, $2 and $3 as of December 31, 2016, 2015 and 2014, respectively 58 60 65
Income taxes (net of refunds) $ 24 $ 12 $ 14
[1] Refer to Note 1, “Summary of Significant Accounting Policies – Basis of Consolidation.”
[2] Cash and cash equivalents, end of period for 2016 and 2015 includes $433 million and $546 million, respectively, of cash reported in the Statement of Financial Position and $1 million and $1 million, respectively, of cash reported in Current assets held for sale. There is no cash reported in Current assets held for sale at the beginning or end of 2014.