XML 18 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 17 $ (23)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 32 31
Amortization of intangible assets 54 53
Fixed asset impairment 0 4
Indefinite-lived intangible asset impairment 6 0
Deferred income taxes (9) (21)
Stock based compensation expense 11 17
Restructuring and other costs 0 48
Other non-cash expense 19 9
Changes in operating assets and liabilities, net of acquisitions:    
Accounts and notes receivable-trade, net 27 (15)
Inventories, net (5) (30)
Prepaid expenses and other current assets (28) (17)
Other noncurrent assets (6) (1)
Accounts payable (28) (14)
Accrued liabilities (50) (31)
Income taxes (2) (37)
Other noncurrent liabilities (13) 6
Net cash provided by (used in) operating activities 25 (21)
Cash flows from investing activities:    
Capital expenditures (34) (39)
Cash received on derivative contracts 0 2
Cash paid on derivative contracts (9) 0
Net cash used in investing activities (43) (37)
Cash flows from financing activities:    
Cash paid for treasury stock 0 (150)
Proceeds on short-term borrowings 23 198
Cash dividends paid (29) (27)
Repayments on long-term borrowings (3) 0
Other financing activities, net (5) (4)
Net cash (used in) provided by financing activities (14) 17
Effect of exchange rate changes on cash and cash equivalents (11) (6)
Net decrease in cash and cash equivalents (43) (47)
Cash and cash equivalents at beginning of period 334 365
Cash and cash equivalents at end of period $ 291 $ 318