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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | 3 Months Ended
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Mar. 31, 2018
Condensed Consolidating Financial Information [Abstract] |
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The Registered Senior Notes issued by Eaton Corporation are registered under the Securities Act of 1933. Eaton and certain of Eaton's 100% owned direct and indirect subsidiaries (the Guarantors) fully and unconditionally guaranteed (subject, in the case of the Guarantors, other than Eaton, to customary release provisions as described below), on a joint and several basis, the Registered Senior Notes. The following condensed consolidating financial statements are included so that separate financial statements of Eaton, Eaton Corporation and each of the Guarantors are not required to be filed with the Securities and Exchange Commission. The consolidating adjustments primarily relate to eliminations of investments in subsidiaries and intercompany balances and transactions. The condensed consolidating financial statements present investments in subsidiaries using the equity method of accounting. See Note 6 of Eaton's 2017 Form 10-K for additional information related to the Registered Senior Notes. The guarantee of a Guarantor that is not a parent of the issuer will be automatically and unconditionally released and discharged in the event of any sale of the Guarantor or of all or substantially all of its assets, or in connection with the release or termination of the Guarantor as a guarantor under all other U.S. debt securities or U.S. syndicated credit facilities, subject to limitations set forth in the indenture. The guarantee of a Guarantor that is a direct or indirect parent of the issuer will only be automatically and unconditionally released and discharged in connection with the release or termination of such Guarantor as a guarantor under all other debt securities or syndicated credit facilities (in both cases, U.S. or otherwise), subject to limitations set forth in the indenture. During 2018 and 2017, the Company undertook certain steps to restructure ownership of various subsidiaries. The transactions were entirely among wholly-owned subsidiaries under the common control of Eaton. This restructuring has been reflected as of the beginning of the earliest period presented below.
CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2018
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Net sales | $ | — |  |  | $ | 1,689 |  |  | $ | 1,700 |  |  | $ | 3,191 |  |  | $ | (1,329 | ) |  | $ | 5,251 |
Cost of products sold | — |  |  | 1,352 |  |  | 1,236 |  |  | 2,310 |  |  | (1,325 | ) |  | 3,573 |
Selling and administrative expense | 3 |  |  | 341 |  |  | 178 |  |  | 367 |  |  | — |  |  | 889 |
Research and development expense | — |  |  | 39 |  |  | 41 |  |  | 76 |  |  | — |  |  | 156 |
Interest expense (income) - net | — |  |  | 68 |  |  | 4 |  |  | (1 | ) |  | (1 | ) |  | 70 |
Other expense (income) - net | 18 |  |  | 5 |  |  | (9 | ) |  | (16 | ) |  | — |  |  | (2 | )
Equity in loss (earnings) of subsidiaries, net of tax | (514 | ) |  | (178 | ) |  | (829 | ) |  | (659 | ) |  | 2,180 |  |  | — |
Intercompany expense (income) - net | 5 |  |  | (21 | ) |  | 486 |  |  | (470 | ) |  | — |  |  | — |
Income (loss) before income taxes | 488 |  |  | 83 |  |  | 593 |  |  | 1,584 |  |  | (2,183 | ) |  | 565 |
Income tax expense (benefit) | — |  |  | (6 | ) |  | (14 | ) |  | 99 |  |  | (1 | ) |  | 78 |
Net income (loss) | 488 |  |  | 89 |  |  | 607 |  |  | 1,485 |  |  | (2,182 | ) |  | 487 |
Less net loss (income) for noncontrolling interests | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net income (loss) attributable to Eaton ordinary shareholders | $ | 488 |  |  | $ | 89 |  |  | $ | 607 |  |  | $ | 1,486 |  |  | $ | (2,182 | ) |  | $ | 488 |
Other comprehensive income (loss) | $ | 296 |  |  | $ | 38 |  |  | $ | 296 |  |  | $ | 613 |  |  | $ | (947 | ) |  | $ | 296 |
Total comprehensive income (loss) attributable to Eaton ordinary shareholders | $ | 784 |  |  | $ | 127 |  |  | $ | 903 |  |  | $ | 2,099 |  |  | $ | (3,129 | ) |  | $ | 784 |
CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED MARCH 31, 2017
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Net sales | $ | — |  |  | $ | 1,572 |  |  | $ | 1,656 |  |  | $ | 2,930 |  |  | $ | (1,310 | ) |  | $ | 4,848 |
Cost of products sold | — |  |  | 1,251 |  |  | 1,228 |  |  | 2,140 |  |  | (1,312 | ) |  | 3,307 |
Selling and administrative expense | 32 |  |  | 317 |  |  | 199 |  |  | 328 |  |  | — |  |  | 876 |
Research and development expense | — |  |  | 54 |  |  | 49 |  |  | 40 |  |  | — |  |  | 143 |
Interest expense (income) - net | — |  |  | 62 |  |  | 5 |  |  | (5 | ) |  | (1 | ) |  | 61 |
Other expense (income) - net | 7 |  |  | 10 |  |  | 1 |  |  | (24 | ) |  | — |  |  | (6 | )
Equity in loss (earnings) of subsidiaries, net of tax | (583 | ) |  | 169 |  |  | (790 | ) |  | (658 | ) |  | 1,862 |  |  | — |
Intercompany expense (income) - net | 110 |  |  | (30 | ) |  | 338 |  |  | (418 | ) |  | — |  |  | — |
Income (loss) before income taxes | 434 |  |  | (261 | ) |  | 626 |  |  | 1,527 |  |  | (1,859 | ) |  | 467 |
Income tax expense (benefit) | — |  |  | (3 | ) |  | 16 |  |  | 18 |  |  | 2 |  |  | 33 |
Net income (loss) | 434 |  |  | (258 | ) |  | 610 |  |  | 1,509 |  |  | (1,861 | ) |  | 434 |
Less net loss (income) for noncontrolling interests | — |  |  | — |  |  | — |  |  | (1 | ) |  | 1 |  |  | — |
Net income (loss) attributable to Eaton ordinary shareholders | $ | 434 |  |  | $ | (258 | ) |  | $ | 610 |  |  | $ | 1,508 |  |  | $ | (1,860 | ) |  | $ | 434 |
Other comprehensive income (loss) | $ | 263 |  |  | $ | 63 |  |  | $ | 262 |  |  | $ | 516 |  |  | $ | (841 | ) |  | $ | 263 |
Total comprehensive income (loss) attributable to Eaton ordinary shareholders | $ | 697 |  |  | $ | (195 | ) |  | $ | 872 |  |  | $ | 2,024 |  |  | $ | (2,701 | ) |  | $ | 697 |
CONDENSED CONSOLIDATING BALANCE SHEETS MARCH 31, 2018
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |
Cash | $ | — |  |  | $ | 10 |  |  | $ | 6 |  |  | $ | 301 |  |  | $ | — |  |  | $ | 317 |
Short-term investments | — |  |  | — |  |  | — |  |  | 510 |  |  | — |  |  | 510 |
Accounts receivable - net | — |  |  | 453 |  |  | 1,407 |  |  | 2,145 |  |  | — |  |  | 4,005 |
Intercompany accounts receivable | 3 |  |  | 1,607 |  |  | 1,724 |  |  | 2,952 |  |  | (6,286 | ) |  | — |
Inventory | — |  |  | 517 |  |  | 766 |  |  | 1,549 |  |  | (87 | ) |  | 2,745 |
Prepaid expenses and other current assets | — |  |  | 108 |  |  | 97 |  |  | 317 |  |  | 30 |  |  | 552 |
Total current assets | 3 |  |  | 2,695 |  |  | 4,000 |  |  | 7,774 |  |  | (6,343 | ) |  | 8,129 |
Property, plant and equipment - net | — |  |  | 841 |  |  | 698 |  |  | 2,004 |  |  | — |  |  | 3,543 |
Other noncurrent assets |  |  |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,317 |  |  | 6,705 |  |  | 5,676 |  |  | — |  |  | 13,698 |
Other intangible assets | — |  |  | 135 |  |  | 3,168 |  |  | 1,903 |  |  | — |  |  | 5,206 |
Deferred income taxes | — |  |  | 360 |  |  | 3 |  |  | 298 |  |  | (305 | ) |  | 356 |
Investment in subsidiaries | 15,651 |  |  | 9,742 |  |  | 54,848 |  |  | 23,602 |  |  | (103,843 | ) |  | — |
Intercompany loans receivable | 3,122 |  |  | 3,235 |  |  | 5,313 |  |  | 64,992 |  |  | (76,662 | ) |  | — |
Other assets | — |  |  | 741 |  |  | 166 |  |  | 829 |  |  | — |  |  | 1,736 |
Total assets | $ | 18,776 |  |  | $ | 19,066 |  |  | $ | 74,901 |  |  | $ | 107,078 |  |  | $ | (187,153 | ) |  | $ | 32,668 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 90 |  |  | $ | — |  |  | $ | 95 |  |  | $ | — |  |  | $ | 185 |
Current portion of long-term debt | — |  |  | 844 |  |  | 2 |  |  | 1 |  |  | — |  |  | 847 |
Accounts payable | — |  |  | 504 |  |  | 392 |  |  | 1,307 |  |  | — |  |  | 2,203 |
Intercompany accounts payable | 6 |  |  | 1,388 |  |  | 3,243 |  |  | 1,649 |  |  | (6,286 | ) |  | — |
Accrued compensation | — |  |  | 46 |  |  | 31 |  |  | 223 |  |  | — |  |  | 300 |
Other current liabilities | 8 |  |  | 492 |  |  | 311 |  |  | 1,050 |  |  | — |  |  | 1,861 |
Total current liabilities | 14 |  |  | 3,364 |  |  | 3,979 |  |  | 4,325 |  |  | (6,286 | ) |  | 5,396 |
Noncurrent liabilities |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 5,841 |  |  | 995 |  |  | 9 |  |  | — |  |  | 6,845 |
Pension liabilities | — |  |  | 333 |  |  | 88 |  |  | 804 |  |  | — |  |  | 1,225 |
Other postretirement benefits liabilities | — |  |  | 191 |  |  | 95 |  |  | 73 |  |  | — |  |  | 359 |
Deferred income taxes | — |  |  | — |  |  | 605 |  |  | 257 |  |  | (305 | ) |  | 557 |
Intercompany loans payable | 1,499 |  |  | 3,955 |  |  | 70,262 |  |  | 946 |  |  | (76,662 | ) |  | — |
Other noncurrent liabilities | — |  |  | 330 |  |  | 270 |  |  | 385 |  |  | — |  |  | 985 |
Total noncurrent liabilities | 1,499 |  |  | 10,650 |  |  | 72,315 |  |  | 2,474 |  |  | (76,967 | ) |  | 9,971 |
Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Eaton shareholders' equity | 17,263 |  |  | 5,052 |  |  | (1,393 | ) |  | 100,241 |  |  | (103,900 | ) |  | 17,263 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 38 |  |  | — |  |  | 38 |
Total equity | 17,263 |  |  | 5,052 |  |  | (1,393 | ) |  | 100,279 |  |  | (103,900 | ) |  | 17,301 |
Total liabilities and equity | $ | 18,776 |  |  | $ | 19,066 |  |  | $ | 74,901 |  |  | $ | 107,078 |  |  | $ | (187,153 | ) |  | $ | 32,668 |
CONDENSED CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2017
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |
Cash | $ | — |  |  | $ | 183 |  |  | $ | 18 |  |  | $ | 360 |  |  | $ | — |  |  | $ | 561 |
Short-term investments | — |  |  | — |  |  | — |  |  | 534 |  |  | — |  |  | 534 |
Accounts receivable - net | — |  |  | 482 |  |  | 1,376 |  |  | 2,085 |  |  | — |  |  | 3,943 |
Intercompany accounts receivable | 8 |  |  | 2,865 |  |  | 5,155 |  |  | 2,716 |  |  | (10,744 | ) |  | — |
Inventory | — |  |  | 473 |  |  | 737 |  |  | 1,493 |  |  | (83 | ) |  | 2,620 |
Prepaid expenses and other current assets | — |  |  | 229 |  |  | 145 |  |  | 277 |  |  | 28 |  |  | 679 |
Total current assets | 8 |  |  | 4,232 |  |  | 7,431 |  |  | 7,465 |  |  | (10,799 | ) |  | 8,337 |
Property, plant and equipment - net | — |  |  | 859 |  |  | 702 |  |  | 1,941 |  |  | — |  |  | 3,502 |
Other noncurrent assets |  |  |  |  |  |  |  |  |  |  |
Goodwill | — |  |  | 1,316 |  |  | 6,705 |  |  | 5,547 |  |  | — |  |  | 13,568 |
Other intangible assets | — |  |  | 138 |  |  | 3,206 |  |  | 1,921 |  |  | — |  |  | 5,265 |
Deferred income taxes | — |  |  | 356 |  |  | 6 |  |  | 215 |  |  | (324 | ) |  | 253 |
Investment in subsidiaries | 15,045 |  |  | 9,503 |  |  | 75,379 |  |  | 39,848 |  |  | (139,775 | ) |  | — |
Intercompany loans receivable | 3,122 |  |  | 7,105 |  |  | 2,909 |  |  | 61,427 |  |  | (74,563 | ) |  | — |
Other assets | — |  |  | 748 |  |  | 166 |  |  | 784 |  |  | — |  |  | 1,698 |
Total assets | $ | 18,175 |  |  | $ | 24,257 |  |  | $ | 96,504 |  |  | $ | 119,148 |  |  | $ | (225,461 | ) |  | $ | 32,623 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Current portion of long-term debt | — |  |  | 542 |  |  | 35 |  |  | 1 |  |  | — |  |  | 578 |
Accounts payable | — |  |  | 549 |  |  | 330 |  |  | 1,287 |  |  | — |  |  | 2,166 |
Intercompany accounts payable | 4 |  |  | 4,917 |  |  | 4,418 |  |  | 1,405 |  |  | (10,744 | ) |  | — |
Accrued compensation | — |  |  | 128 |  |  | 65 |  |  | 260 |  |  | — |  |  | 453 |
Other current liabilities | 1 |  |  | 566 |  |  | 317 |  |  | 989 |  |  | (1 | ) |  | 1,872 |
Total current liabilities | 5 |  |  | 6,702 |  |  | 5,165 |  |  | 3,948 |  |  | (10,745 | ) |  | 5,075 |
Noncurrent liabilities |  |  |  |  |  |  |  |  |  |  |
Long-term debt | — |  |  | 6,180 |  |  | 976 |  |  | 9 |  |  | 2 |  |  | 7,167 |
Pension liabilities | — |  |  | 341 |  |  | 89 |  |  | 796 |  |  | — |  |  | 1,226 |
Other postretirement benefits liabilities | — |  |  | 192 |  |  | 96 |  |  | 74 |  |  | — |  |  | 362 |
Deferred income taxes | — |  |  | — |  |  | 607 |  |  | 255 |  |  | (324 | ) |  | 538 |
Intercompany loans payable | 917 |  |  | 3,808 |  |  | 68,685 |  |  | 1,153 |  |  | (74,563 | ) |  | — |
Other noncurrent liabilities | — |  |  | 314 |  |  | 273 |  |  | 378 |  |  | — |  |  | 965 |
Total noncurrent liabilities | 917 |  |  | 10,835 |  |  | 70,726 |  |  | 2,665 |  |  | (74,885 | ) |  | 10,258 |
Shareholders’ equity |  |  |  |  |  |  |  |  |  |  |
Eaton shareholders' equity | 17,253 |  |  | 6,720 |  |  | 20,613 |  |  | 112,498 |  |  | (139,831 | ) |  | 17,253 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 37 |  |  | — |  |  | 37 |
Total equity | 17,253 |  |  | 6,720 |  |  | 20,613 |  |  | 112,535 |  |  | (139,831 | ) |  | 17,290 |
Total liabilities and equity | $ | 18,175 |  |  | $ | 24,257 |  |  | $ | 96,504 |  |  | $ | 119,148 |  |  | $ | (225,461 | ) |  | $ | 32,623 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2018
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 2 |  |  | $ | (66 | ) |  | $ | 82 |  |  | $ | 321 |  |  | $ | — |  |  | $ | 339 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Capital expenditures for property, plant and equipment | — |  |  | (23 | ) |  | (24 | ) |  | (84 | ) |  | — |  |  | (131 | )
Sales (purchases) of short-term investments - net | — |  |  | — |  |  | — |  |  | 31 |  |  | — |  |  | 31 |
Investments in affiliates | — |  |  | (36 | ) |  | — |  |  | — |  |  | 36 |  |  | — |
Loans to affiliates | — |  |  | — |  |  | (486 | ) |  | (1,177 | ) |  | 1,663 |  |  | — |
Repayments of loans from affiliates | — |  |  | 16 |  |  | 886 |  |  | 1,299 |  |  | (2,201 | ) |  | — |
Other - net | — |  |  | (15 | ) |  | (4 | ) |  | (18 | ) |  | — |  |  | (37 | )
Net cash provided by (used in) investing activities | — |  |  | (58 | ) |  | 372 |  |  | 51 |  |  | (502 | ) |  | (137 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings | — |  |  | 90 |  |  | — |  |  | 89 |  |  | — |  |  | 179 |
Payments on borrowings | — |  |  | — |  |  | (33 | ) |  | — |  |  | — |  |  | (33 | )
Proceeds from borrowings from affiliates | 585 |  |  | 1,050 |  |  | 28 |  |  | — |  |  | (1,663 | ) |  | — |
Payments on borrowings from affiliates | (22 | ) |  | (1,409 | ) |  | (16 | ) |  | (754 | ) |  | 2,201 |  |  | — |
Capital contributions from affiliates | — |  |  | — |  |  | — |  |  | 36 |  |  | (36 | ) |  | — |
Other intercompany financing activities | — |  |  | 237 |  |  | (441 | ) |  | 204 |  |  | — |  |  | — |
Cash dividends paid | (284 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (284 | )
Exercise of employee stock options | 19 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19 |
Repurchase of shares | (300 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (300 | )
Employee taxes paid from shares withheld | — |  |  | (16 | ) |  | (4 | ) |  | (3 | ) |  | — |  |  | (23 | )
Other - net | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net cash provided by (used in) financing activities | (2 | ) |  | (49 | ) |  | (466 | ) |  | (428 | ) |  | 502 |  |  | (443 | )
Effect of currency on cash | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Total increase (decrease) in cash | — |  |  | (173 | ) |  | (12 | ) |  | (59 | ) |  | — |  |  | (244 | )
Cash at the beginning of the period | — |  |  | 183 |  |  | 18 |  |  | 360 |  |  | — |  |  | 561 |
Cash at the end of the period | $ | — |  |  | $ | 10 |  |  | $ | 6 |  |  | $ | 301 |  |  | $ | — |  |  | $ | 317 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2017
| Eaton Corporation plc |  | Eaton Corporation |  | Guarantors |  | Other subsidiaries |  | Consolidating adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 611 |  |  | $ | 430 |  |  | $ | 733 |  |  | $ | 196 |  |  | $ | (1,507 | ) |  | $ | 463 |
Investing activities |  |  |  |  |  |  |  |  |  |  |
Capital expenditures for property, plant and equipment | — |  |  | (20 | ) |  | (26 | ) |  | (70 | ) |  | — |  |  | (116 | )
Sales (purchases) of short-term investments - net | — |  |  | — |  |  | — |  |  | (93 | ) |  | — |  |  | (93 | )
Investments in affiliates | — |  |  | (1 | ) |  | — |  |  | — |  |  | 1 |  |  | — |
Loans to affiliates | — |  |  | (6 | ) |  | (87 | ) |  | (2,348 | ) |  | 2,441 |  |  | — |
Repayments of loans from affiliates | — |  |  | 19 |  |  | 55 |  |  | 2,195 |  |  | (2,269 | ) |  | — |
Other - net | — |  |  | (11 | ) |  | 2 |  |  | (11 | ) |  | — |  |  | (20 | )
Net cash provided by (used in) investing activities | — |  |  | (19 | ) |  | (56 | ) |  | (327 | ) |  | 173 |  |  | (229 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings | — |  |  | 194 |  |  | — |  |  | — |  |  | — |  |  | 194 |
Payments on borrowings | — |  |  | (250 | ) |  | — |  |  | (4 | ) |  | — |  |  | (254 | )
Proceeds from borrowings from affiliates | 668 |  |  | 1,107 |  |  | 662 |  |  | 4 |  |  | (2,441 | ) |  | — |
Payments on borrowings from affiliates | (800 | ) |  | (1,435 | ) |  | (17 | ) |  | (17 | ) |  | 2,269 |  |  | — |
Capital contributions from affiliates | — |  |  | — |  |  | — |  |  | 1 |  |  | (1 | ) |  | — |
Other intercompany financing activities | — |  |  | (63 | ) |  | (519 | ) |  | 582 |  |  | — |  |  | — |
Cash dividends paid | (263 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (263 | )
Cash dividends paid to affiliates | — |  |  | — |  |  | (800 | ) |  | (707 | ) |  | 1,507 |  |  | — |
Exercise of employee stock options | 38 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 38 |
Repurchase of shares | (255 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (255 | )
Employee taxes paid from shares withheld | — |  |  | (13 | ) |  | (4 | ) |  | (3 | ) |  | — |  |  | (20 | )
Other - net | — |  |  | — |  |  | (1 | ) |  | (2 | ) |  | — |  |  | (3 | )
Net cash provided by (used in) financing activities | (612 | ) |  | (460 | ) |  | (679 | ) |  | (146 | ) |  | 1,334 |  |  | (563 | )
Effect of currency on cash | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Total increase (decrease) in cash | (1 | ) |  | (49 | ) |  | (2 | ) |  | (269 | ) |  | — |  |  | (321 | )
Cash at the beginning of the period | 1 |  |  | 92 |  |  | 12 |  |  | 438 |  |  | — |  |  | 543 |
Cash at the end of the period | $ | — |  |  | $ | 43 |  |  | $ | 10 |  |  | $ | 169 |  |  | $ | — |  |  | $ | 222 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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