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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net income $ 504 $ 544 $ 421
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 146 175 175
Amortization of debt issuance costs and discounts 3 6 15
Share-based compensation 51 48 45
Deferred income taxes (40) (42) 2
Unrealized loss (gain) on forward interest rate swaps 33 19 (8)
Other, net 1 (2) (5)
Changes in operating assets and liabilities:      
Accounts receivable, net 130 (96) (31)
Inventories, net (42) 51 (43)
Other assets 11 (20) (12)
Accounts payable 47 (5) 122
Accrued liabilities 16 (18) 35
Deferred revenue 103 71 51
Income taxes (5) (31) 24
Other operating activities 4 (15) (6)
Net cash provided by operating activities 962 685 785
Cash flows from investing activities:      
Acquisition of businesses, net of cash acquired (548) (262) (72)
Purchases of property, plant and equipment (67) (61) (64)
Proceeds from the sale of long-term investments 6 10 2
Purchases of long-term investments (32) (22) (3)
Net cash used in investing activities (641) (335) (137)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 302 637 909
Payments of long term-debt (342) (949) (1,566)
Payments of debt extinguishment costs 0 (1) (1)
Payments of debt issuance costs and discounts (1) (6) (2)
Payments for repurchases of common stock (200) (47) 0
Net payments related to share-based compensation plans (25) (32) (1)
Change in unremitted cash collections from servicing factored receivables 109 33 0
Net cash used in financing activities (157) (365) (661)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (2) 1 (5)
Net increase (decrease) in cash and cash equivalents, including restricted cash 162 (14) (18)
Cash and cash equivalents, including restricted cash, at beginning of period 30 44 62
Cash and cash equivalents, including restricted cash, at end of period 192 30 44
Less restricted cash, included in Prepaid expenses and other current assets (24) 0 0
Cash and cash equivalents at end of period 168 30 44
Supplemental disclosures of cash flow information:      
Income taxes paid 107 140 76
Interest paid $ 38 $ 63 $ 90