XML 20 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net income (loss) $ 990.1 $ (936.9)
Adjustments to reconcile net income (loss) to net cash and cash equivalents provided by (used for) operating activities:    
Goodwill impairment 0.0 699.8
Stock-based compensation 5.0 7.1
Loss on debt extinguishment 47.6 0.0
Depreciation and amortization 432.4 425.1
Deferred income taxes (25.2) (61.6)
Qualified pension plan contributions (1.0) (1.3)
Qualified pension plan income (20.8) (8.7)
Change in:    
Receivables (291.6) 57.0
Income taxes receivable/payable 64.8 (14.0)
Inventories (161.8) 90.5
Other current assets 18.4 (7.2)
Accounts payable and accrued liabilities 157.9 52.9
Other assets (9.2) (4.1)
Other noncurrent liabilities 41.3 0.9
Other operating activities 3.8 5.8
Net operating activities 1,251.7 305.3
Investing Activities    
Capital expenditures (135.8) (223.3)
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 (135.8) (760.1)
Long-term debt:    
Borrowings 390.0 1,212.5
Repayments (1,241.1) (591.8)
Debt early redemption premiums (37.7) 0.0
Common stock repurchased and retired (68.3) 0.0
Stock options exercised 58.3 0.5
Dividends paid (95.8) (94.7)
Debt issuance costs (3.8) (9.9)
Net financing activities (998.4) 516.6
Effect of exchange rate changes on cash and cash equivalents (1.1) 0.0
Net increase in cash and cash equivalents 116.4 61.8
Cash and cash equivalents, beginning of year 189.7 220.9
Cash and cash equivalents, end of period 306.1 282.7
Cash paid (received) for interest and income taxes:    
Interest, net 218.2 179.3
Income taxes, net of refunds 104.5 (2.5)
Non-cash investing activities:    
Decrease in capital expenditures included in accounts payable and accrued liabilities $ 29.8 $ 46.2