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Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income (loss) $ 599.4 $ (200.1)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by (used for) operating activities:    
Stock-based compensation 1.3 4.1
Loss on debt extinguishment 38.9 0.0
Depreciation and amortization 287.2 283.0
Deferred income taxes (26.8) (52.1)
Qualified pension plan contributions (0.6) (1.2)
Qualified pension plan income (13.7) (5.9)
Change in:    
Receivables (274.5) 64.1
Income taxes receivable/payable (22.6) (15.8)
Inventories (67.6) 75.7
Other current assets 12.0 (18.3)
Accounts payable and accrued liabilities 143.6 (74.9)
Other assets (2.5) 0.6
Other noncurrent liabilities 32.2 (5.6)
Other operating activities 1.3 1.8
Net operating activities 707.6 55.4
Investing Activities    
Capital expenditures (86.4) (166.5)
Payments under ethylene long-term supply contracts 0.0 461.0
Payments under other long-term supply contracts 0.0 75.8
Net investing activities (86.4) (703.3)
Long-term debt:    
Borrowings 365.0 1,163.2
Repayments (855.2) (425.8)
Debt early redemption premiums (31.0) 0.0
Stock options exercised 50.2 0.5
Dividends paid (63.7) (63.1)
Debt issuance costs (3.1) (9.6)
Net financing activities (537.8) 665.2
Effect of exchange rate changes on cash and cash equivalents (0.3) (0.3)
Net increase in cash and cash equivalents 83.1 17.0
Cash and cash equivalents, beginning of year 189.7 220.9
Cash and cash equivalents, end of period 272.8 237.9
Cash paid for interest and income taxes:    
Interest, net 153.5 122.3
Income taxes, net of refunds 82.6 3.1
Non-cash investing activities:    
Decrease in capital expenditures included in accounts payable and accrued liabilities $ 26.1 $ 38.6