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v3.19.1

Tyco Electronics Group S.A. (Tables) | 6 Months Ended
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Mar. 29, 2019
Tyco Electronics Group S.A. |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations (unaudited) For the Quarter Ended March 29, 2019
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Net sales |  | $ | — |  | $ | — |  | $ | 3,412 |  | $ | — |  | $ | 3,412 |
Cost of sales |  |  | — |  |  | — |  |  | 2,294 |  |  | — |  |  | 2,294 |
Gross margin |  |  | — |  |  | — |  |  | 1,118 |  |  | — |  |  | 1,118 |
Selling, general, and administrative expenses, net |  |  | 28 |  |  | 9 |  |  | 336 |  |  | — |  |  | 373 |
Research, development, and engineering expenses |  |  | — |  |  | — |  |  | 166 |  |  | — |  |  | 166 |
Acquisition and integration costs |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Restructuring and other charges, net |  |  | — |  |  | — |  |  | 42 |  |  | — |  |  | 42 |
Operating income (loss) |  |  | (28) |  |  | (9) |  |  | 567 |  |  | — |  |  | 530 |
Interest income |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 4 |
Interest expense |  |  | — |  |  | (14) |  |  | (1) |  |  | — |  |  | (15) |
Other income, net |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Equity in net income of subsidiaries |  |  | 489 |  |  | 560 |  |  | — |  |  | (1,049) |  |  | — |
Equity in net income of subsidiaries of discontinued operations |  |  | 10 |  |  | 3 |  |  | — |  |  | (13) |  |  | — |
Intercompany interest income (expense), net |  |  | (32) |  |  | (50) |  |  | 82 |  |  | — |  |  | — |
Income from continuing operations before income taxes |  |  | 439 |  |  | 492 |  |  | 651 |  |  | (1,062) |  |  | 520 |
Income tax expense |  |  | — |  |  | — |  |  | (91) |  |  | — |  |  | (91) |
Income from continuing operations |  |  | 439 |  |  | 492 |  |  | 560 |  |  | (1,062) |  |  | 429 |
Income from discontinued operations, net of income taxes |  |  | — |  |  | 7 |  |  | 3 |  |  | — |  |  | 10 |
Net income |  |  | 439 |  |  | 499 |  |  | 563 |  |  | (1,062) |  |  | 439 |
Other comprehensive income |  |  | 97 |  |  | 97 |  |  | 47 |  |  | (144) |  |  | 97 |
Comprehensive income |  | $ | 536 |  | $ | 596 |  | $ | 610 |  | $ | (1,206) |  | $ | 536 |
Condensed Consolidating Statement of Operations (unaudited) For the Quarter Ended March 30, 2018
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Net sales |  | $ | — |  | $ | — |  | $ | 3,562 |  | $ | — |  | $ | 3,562 |
Cost of sales |  |  | — |  |  | — |  |  | 2,350 |  |  | — |  |  | 2,350 |
Gross margin |  |  | — |  |  | — |  |  | 1,212 |  |  | — |  |  | 1,212 |
Selling, general, and administrative expenses, net |  |  | 41 |  |  | 9 |  |  | 359 |  |  | — |  |  | 409 |
Research, development, and engineering expenses |  |  | — |  |  | — |  |  | 173 |  |  | — |  |  | 173 |
Acquisition and integration costs |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Restructuring and other charges, net |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Operating income (loss) |  |  | (41) |  |  | (9) |  |  | 671 |  |  | — |  |  | 621 |
Interest income |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 4 |
Interest expense |  |  | — |  |  | (29) |  |  | 1 |  |  | — |  |  | (28) |
Other income, net |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Equity in net income of subsidiaries |  |  | 548 |  |  | 555 |  |  | — |  |  | (1,103) |  |  | — |
Intercompany interest income (expense), net |  |  | (17) |  |  | 30 |  |  | (13) |  |  | — |  |  | — |
Income from continuing operations before income taxes |  |  | 490 |  |  | 548 |  |  | 663 |  |  | (1,103) |  |  | 598 |
Income tax expense |  |  | — |  |  | — |  |  | (108) |  |  | — |  |  | (108) |
Net income |  |  | 490 |  |  | 548 |  |  | 555 |  |  | (1,103) |  |  | 490 |
Other comprehensive income |  |  | 73 |  |  | 73 |  |  | 94 |  |  | (167) |  |  | 73 |
Comprehensive income |  | $ | 563 |  | $ | 621 |  | $ | 649 |  | $ | (1,270) |  | $ | 563 |
Condensed Consolidating Statement of Operations (unaudited) For the Six Months Ended March 29, 2019
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Net sales |  | $ | — |  | $ | — |  | $ | 6,759 |  | $ | — |  | $ | 6,759 |
Cost of sales |  |  | — |  |  | — |  |  | 4,527 |  |  | — |  |  | 4,527 |
Gross margin |  |  | — |  |  | — |  |  | 2,232 |  |  | — |  |  | 2,232 |
Selling, general, and administrative expenses, net |  |  | 63 |  |  | (98) |  |  | 797 |  |  | — |  |  | 762 |
Research, development, and engineering expenses |  |  | — |  |  | — |  |  | 327 |  |  | — |  |  | 327 |
Acquisition and integration costs |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 12 |
Restructuring and other charges, net |  |  | — |  |  | — |  |  | 117 |  |  | — |  |  | 117 |
Operating income (loss) |  |  | (63) |  |  | 98 |  |  | 979 |  |  | — |  |  | 1,014 |
Interest income |  |  | — |  |  | 1 |  |  | 8 |  |  | — |  |  | 9 |
Interest expense |  |  | — |  |  | (41) |  |  | (1) |  |  | — |  |  | (42) |
Other income (expense), net |  |  | — |  |  | 1 |  |  | (1) |  |  | — |  |  | — |
Equity in net income of subsidiaries |  |  | 930 |  |  | 949 |  |  | — |  |  | (1,879) |  |  | — |
Equity in net loss of subsidiaries of discontinued operations |  |  | (97) |  |  | (46) |  |  | — |  |  | 143 |  |  | — |
Intercompany interest income (expense), net |  |  | (55) |  |  | (78) |  |  | 133 |  |  | — |  |  | — |
Income from continuing operations before income taxes |  |  | 715 |  |  | 884 |  |  | 1,118 |  |  | (1,736) |  |  | 981 |
Income tax expense |  |  | — |  |  | — |  |  | (169) |  |  | — |  |  | (169) |
Income from continuing operations |  |  | 715 |  |  | 884 |  |  | 949 |  |  | (1,736) |  |  | 812 |
Loss from discontinued operations, net of income taxes |  |  | — |  |  | (51) |  |  | (46) |  |  | — |  |  | (97) |
Net income |  |  | 715 |  |  | 833 |  |  | 903 |  |  | (1,736) |  |  | 715 |
Other comprehensive income |  |  | 146 |  |  | 146 |  |  | 82 |  |  | (228) |  |  | 146 |
Comprehensive income |  | $ | 861 |  | $ | 979 |  | $ | 985 |  | $ | (1,964) |  | $ | 861 |
Condensed Consolidating Statement of Operations (unaudited) For the Six Months Ended March 30, 2018
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Net sales |  | $ | — |  | $ | — |  | $ | 6,898 |  | $ | — |  | $ | 6,898 |
Cost of sales |  |  | — |  |  | — |  |  | 4,522 |  |  | — |  |  | 4,522 |
Gross margin |  |  | — |  |  | — |  |  | 2,376 |  |  | — |  |  | 2,376 |
Selling, general, and administrative expenses, net |  |  | 88 |  |  | 6 |  |  | 692 |  |  | — |  |  | 786 |
Research, development, and engineering expenses |  |  | — |  |  | — |  |  | 338 |  |  | — |  |  | 338 |
Acquisition and integration costs |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Restructuring and other charges, net |  |  | — |  |  | — |  |  | 40 |  |  | — |  |  | 40 |
Operating income (loss) |  |  | (88) |  |  | (6) |  |  | 1,301 |  |  | — |  |  | 1,207 |
Interest income |  |  | — |  |  | 1 |  |  | 7 |  |  | — |  |  | 8 |
Interest expense |  |  | — |  |  | (55) |  |  | 1 |  |  | — |  |  | (54) |
Other income, net |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Equity in net income of subsidiaries |  |  | 575 |  |  | 577 |  |  | — |  |  | (1,152) |  |  | — |
Equity in net loss of subsidiaries of discontinued operations |  |  | (7) |  |  | (7) |  |  | — |  |  | 14 |  |  | — |
Intercompany interest income (expense), net |  |  | (30) |  |  | 58 |  |  | (28) |  |  | — |  |  | — |
Income from continuing operations before income taxes |  |  | 450 |  |  | 568 |  |  | 1,284 |  |  | (1,138) |  |  | 1,164 |
Income tax expense |  |  | — |  |  | — |  |  | (707) |  |  | — |  |  | (707) |
Income from continuing operations |  |  | 450 |  |  | 568 |  |  | 577 |  |  | (1,138) |  |  | 457 |
Loss from discontinued operations, net of income taxes |  |  | — |  |  | — |  |  | (7) |  |  | — |  |  | (7) |
Net income |  |  | 450 |  |  | 568 |  |  | 570 |  |  | (1,138) |  |  | 450 |
Other comprehensive income |  |  | 149 |  |  | 149 |  |  | 181 |  |  | (330) |  |  | 149 |
Comprehensive income |  | $ | 599 |  | $ | 717 |  | $ | 751 |  | $ | (1,468) |  | $ | 599 |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet (unaudited) As of March 29, 2019
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 565 |  | $ | — |  | $ | 565 |
Accounts receivable, net |  |  | — |  |  | — |  |  | 2,463 |  |  | — |  |  | 2,463 |
Inventories |  |  | — |  |  | — |  |  | 1,970 |  |  | — |  |  | 1,970 |
Intercompany receivables |  |  | 43 |  |  | 3,493 |  |  | 64 |  |  | (3,600) |  |  | — |
Prepaid expenses and other current assets |  |  | 3 |  |  | 52 |  |  | 393 |  |  | — |  |  | 448 |
Total current assets |  |  | 46 |  |  | 3,545 |  |  | 5,455 |  |  | (3,600) |  |  | 5,446 |
Property, plant, and equipment, net |  |  | — |  |  | — |  |  | 3,596 |  |  | — |  |  | 3,596 |
Goodwill |  |  | — |  |  | — |  |  | 5,626 |  |  | — |  |  | 5,626 |
Intangible assets, net |  |  | — |  |  | — |  |  | 1,596 |  |  | — |  |  | 1,596 |
Deferred income taxes |  |  | — |  |  | — |  |  | 2,607 |  |  | — |  |  | 2,607 |
Investment in subsidiaries |  |  | 14,169 |  |  | 32,623 |  |  | — |  |  | (46,792) |  |  | — |
Intercompany loans receivable |  |  | — |  |  | 1,565 |  |  | 19,531 |  |  | (21,096) |  |  | — |
Other assets |  |  | — |  |  | 30 |  |  | 361 |  |  | — |  |  | 391 |
Total assets |  | $ | 14,215 |  | $ | 37,763 |  | $ | 38,772 |  | $ | (71,488) |  | $ | 19,262 |
Liabilities and shareholders' equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | — |  | $ | 610 |  | $ | 2 |  | $ | — |  | $ | 612 |
Accounts payable |  |  | 3 |  |  | — |  |  | 1,482 |  |  | — |  |  | 1,485 |
Accrued and other current liabilities |  |  | 662 |  |  | 36 |  |  | 1,072 |  |  | — |  |  | 1,770 |
Intercompany payables |  |  | 3,556 |  |  | 2 |  |  | 42 |  |  | (3,600) |  |  | — |
Total current liabilities |  |  | 4,221 |  |  | 648 |  |  | 2,598 |  |  | (3,600) |  |  | 3,867 |
Long-term debt |  |  | — |  |  | 3,368 |  |  | 2 |  |  | — |  |  | 3,370 |
Intercompany loans payable |  |  | — |  |  | 19,531 |  |  | 1,565 |  |  | (21,096) |  |  | — |
Long-term pension and postretirement liabilities |  |  | — |  |  | — |  |  | 1,081 |  |  | — |  |  | 1,081 |
Deferred income taxes |  |  | — |  |  | — |  |  | 196 |  |  | — |  |  | 196 |
Income taxes |  |  | — |  |  | — |  |  | 333 |  |  | — |  |  | 333 |
Other liabilities |  |  | — |  |  | 47 |  |  | 374 |  |  | — |  |  | 421 |
Total liabilities |  |  | 4,221 |  |  | 23,594 |  |  | 6,149 |  |  | (24,696) |  |  | 9,268 |
Total shareholders' equity |  |  | 9,994 |  |  | 14,169 |  |  | 32,623 |  |  | (46,792) |  |  | 9,994 |
Total liabilities and shareholders' equity |  | $ | 14,215 |  | $ | 37,763 |  | $ | 38,772 |  | $ | (71,488) |  | $ | 19,262 |
Condensed Consolidating Balance Sheet (unaudited) As of September 28, 2018
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 848 |  | $ | — |  | $ | 848 |
Accounts receivable, net |  |  | — |  |  | — |  |  | 2,361 |  |  | — |  |  | 2,361 |
Inventories |  |  | — |  |  | — |  |  | 1,857 |  |  | — |  |  | 1,857 |
Intercompany receivables |  |  | 37 |  |  | 2,391 |  |  | 48 |  |  | (2,476) |  |  | — |
Prepaid expenses and other current assets |  |  | 5 |  |  | 112 |  |  | 544 |  |  | — |  |  | 661 |
Assets held for sale |  |  | — |  |  | — |  |  | 472 |  |  | — |  |  | 472 |
Total current assets |  |  | 42 |  |  | 2,503 |  |  | 6,130 |  |  | (2,476) |  |  | 6,199 |
Property, plant, and equipment, net |  |  | — |  |  | — |  |  | 3,497 |  |  | — |  |  | 3,497 |
Goodwill |  |  | — |  |  | — |  |  | 5,684 |  |  | — |  |  | 5,684 |
Intangible assets, net |  |  | — |  |  | — |  |  | 1,704 |  |  | — |  |  | 1,704 |
Deferred income taxes |  |  | — |  |  | — |  |  | 2,144 |  |  | — |  |  | 2,144 |
Investment in subsidiaries |  |  | 13,626 |  |  | 26,613 |  |  | — |  |  | (40,239) |  |  | — |
Intercompany loans receivable |  |  | 2 |  |  | 6,535 |  |  | 17,887 |  |  | (24,424) |  |  | — |
Other assets |  |  | — |  |  | — |  |  | 1,158 |  |  | — |  |  | 1,158 |
Total assets |  | $ | 13,670 |  | $ | 35,651 |  | $ | 38,204 |  | $ | (67,139) |  | $ | 20,386 |
Liabilities and shareholders' equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term debt |  | $ | — |  | $ | 961 |  | $ | 2 |  | $ | — |  | $ | 963 |
Accounts payable |  |  | 2 |  |  | — |  |  | 1,546 |  |  | — |  |  | 1,548 |
Accrued and other current liabilities |  |  | 400 |  |  | 36 |  |  | 1,275 |  |  | — |  |  | 1,711 |
Intercompany payables |  |  | 2,437 |  |  | — |  |  | 39 |  |  | (2,476) |  |  | — |
Liabilities held for sale |  |  | — |  |  | — |  |  | 188 |  |  | — |  |  | 188 |
Total current liabilities |  |  | 2,839 |  |  | 997 |  |  | 3,050 |  |  | (2,476) |  |  | 4,410 |
Long-term debt |  |  | — |  |  | 3,033 |  |  | 4 |  |  | — |  |  | 3,037 |
Intercompany loans payable |  |  | — |  |  | 17,888 |  |  | 6,536 |  |  | (24,424) |  |  | — |
Long-term pension and postretirement liabilities |  |  | — |  |  | — |  |  | 1,102 |  |  | — |  |  | 1,102 |
Deferred income taxes |  |  | — |  |  | — |  |  | 207 |  |  | — |  |  | 207 |
Income taxes |  |  | — |  |  | — |  |  | 312 |  |  | — |  |  | 312 |
Other liabilities |  |  | — |  |  | 107 |  |  | 380 |  |  | — |  |  | 487 |
Total liabilities |  |  | 2,839 |  |  | 22,025 |  |  | 11,591 |  |  | (26,900) |  |  | 9,555 |
Total shareholders' equity |  |  | 10,831 |  |  | 13,626 |  |  | 26,613 |  |  | (40,239) |  |  | 10,831 |
Total liabilities and shareholders' equity |  | $ | 13,670 |  | $ | 35,651 |  | $ | 38,204 |  | $ | (67,139) |  | $ | 20,386 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows (unaudited) For the Six Months Ended March 29, 2019
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) continuing operating activities |  | $ | (121) |  | $ | (79) |  | $ | 1,083 |  | $ | — |  | $ | 883 |
Net cash used in discontinued operating activities |  |  | — |  |  | — |  |  | (30) |  |  | — |  |  | (30) |
Net cash provided by (used in) operating activities |  |  | (121) |  |  | (79) |  |  | 1,053 |  |  | — |  |  | 853 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  | — |  |  | (401) |  |  | — |  |  | (401) |
Proceeds from sale of property, plant, and equipment |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Proceeds from divestiture of discontinued operation, net of cash retained by sold operation |  |  | — |  |  | 312 |  |  | (15) |  |  | — |  |  | 297 |
Change in intercompany loans |  |  | — |  |  | 5,475 |  |  | — |  |  | (5,475) |  |  | — |
Other |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Net cash provided by (used in) continuing investing activities |  |  | — |  |  | 5,787 |  |  | (395) |  |  | (5,475) |  |  | (83) |
Net cash used in discontinued investing activities |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Net cash provided by (used in) investing activities |  |  | — |  |  | 5,787 |  |  | (397) |  |  | (5,475) |  |  | (85) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in parent company equity(1) |  |  | 38 |  |  | (5,704) |  |  | 5,666 |  |  | — |  |  | — |
Net increase in commercial paper |  |  | — |  |  | 90 |  |  | — |  |  | — |  |  | 90 |
Proceeds from issuance of debt |  |  | — |  |  | 350 |  |  | — |  |  | — |  |  | 350 |
Repayment of debt |  |  | — |  |  | (441) |  |  | — |  |  | — |  |  | (441) |
Proceeds from exercise of share options |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Repurchase of common shares |  |  | (739) |  |  | — |  |  | — |  |  | — |  |  | (739) |
Payment of common share dividends to shareholders |  |  | (299) |  |  | — |  |  | — |  |  | — |  |  | (299) |
Loan activity with parent |  |  | 1,121 |  |  | — |  |  | (6,596) |  |  | 5,475 |  |  | — |
Transfers to discontinued operations |  |  | — |  |  | — |  |  | (32) |  |  | — |  |  | (32) |
Other |  |  | — |  |  | (3) |  |  | (27) |  |  | — |  |  | (30) |
Net cash provided by (used in) continuing financing activities |  |  | 121 |  |  | (5,708) |  |  | (972) |  |  | 5,475 |  |  | (1,084) |
Net cash provided by discontinued financing activities |  |  | — |  |  | — |  |  | 32 |  |  | — |  |  | 32 |
Net cash provided by (used in) financing activities |  |  | 121 |  |  | (5,708) |  |  | (940) |  |  | 5,475 |  |  | (1,052) |
Effect of currency translation on cash |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net decrease in cash, cash equivalents, and restricted cash |  |  | — |  |  | — |  |  | (283) |  |  | — |  |  | (283) |
Cash, cash equivalents, and restricted cash at beginning of period |  |  | — |  |  | — |  |  | 848 |  |  | — |  |  | 848 |
Cash, cash equivalents, and restricted cash at end of period |  | $ | — |  | $ | — |  | $ | 565 |  | $ | — |  | $ | 565 |
| (1) |  | Changes in parent company equity includes cash flows related to certain intercompany equity and funding transactions, and other intercompany activity.
Condensed Consolidating Statement of Cash Flows (unaudited) For the Six Months Ended March 30, 2018
|  | TE |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Connectivity |  |  |  |  | Other |  | Consolidating |  |  |  |
|  | Ltd. |  | TEGSA |  | Subsidiaries |  | Adjustments |  | Total |
|  | (in millions) |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) continuing operating activities (1) |  | $ | (116) |  | $ | (67) |  | $ | 835 |  | $ | (7) |  | $ | 645 |
Net cash provided by discontinued operating activities |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82 |
Net cash provided by (used in) operating activities |  |  | (116) |  |  | (67) |  |  | 917 |  |  | (7) |  |  | 727 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  | — |  |  | (439) |  |  | — |  |  | (439) |
Proceeds from sale of property, plant, and equipment |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Intercompany distribution receipts(1) |  |  | — |  |  | 64 |  |  | — |  |  | (64) |  |  | — |
Change in intercompany loans |  |  | — |  |  | 335 |  |  | — |  |  | (335) |  |  | — |
Other |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | (2) |
Net cash provided by (used in) continuing investing activities |  |  | — |  |  | 399 |  |  | (434) |  |  | (399) |  |  | (434) |
Net cash used in discontinued investing activities |  |  | — |  |  | — |  |  | (8) |  |  | — |  |  | (8) |
Net cash provided by (used in) investing activities |  |  | — |  |  | 399 |  |  | (442) |  |  | (399) |  |  | (442) |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in parent company equity(2) |  |  | 62 |  |  | 32 |  |  | (94) |  |  | — |  |  | — |
Net increase in commercial paper |  |  | — |  |  | 225 |  |  | — |  |  | — |  |  | 225 |
Proceeds from issuance of debt |  |  | — |  |  | 119 |  |  | — |  |  | — |  |  | 119 |
Repayment of debt |  |  | — |  |  | (708) |  |  | — |  |  | — |  |  | (708) |
Proceeds from exercise of share options |  |  | — |  |  | — |  |  | 94 |  |  | — |  |  | 94 |
Repurchase of common shares |  |  | (218) |  |  | — |  |  | (163) |  |  | — |  |  | (381) |
Payment of common share dividends to shareholders |  |  | (285) |  |  | — |  |  | 4 |  |  | — |  |  | (281) |
Intercompany distributions(1) |  |  | — |  |  | — |  |  | (71) |  |  | 71 |  |  | — |
Loan activity with parent |  |  | 557 |  |  | — |  |  | (892) |  |  | 335 |  |  | — |
Transfers from discontinued operations |  |  | — |  |  | — |  |  | 74 |  |  | — |  |  | 74 |
Other |  |  | — |  |  | — |  |  | (32) |  |  | — |  |  | (32) |
Net cash provided by (used in) continuing financing activities |  |  | 116 |  |  | (332) |  |  | (1,080) |  |  | 406 |  |  | (890) |
Net cash used in discontinued financing activities |  |  | — |  |  | — |  |  | (74) |  |  | — |  |  | (74) |
Net cash provided by (used in) financing activities |  |  | 116 |  |  | (332) |  |  | (1,154) |  |  | 406 |  |  | (964) |
Effect of currency translation on cash |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Net decrease in cash, cash equivalents, and restricted cash |  |  | — |  |  | — |  |  | (659) |  |  | — |  |  | (659) |
Cash, cash equivalents, and restricted cash at beginning of period |  |  | — |  |  | — |  |  | 1,218 |  |  | — |  |  | 1,218 |
Cash, cash equivalents, and restricted cash at end of period |  | $ | — |  | $ | — |  | $ | 559 |  | $ | — |  | $ | 559 |
| (1) |  | During fiscal 2018, other subsidiaries made distributions to TEGSA in the amount of $71 million. Cash flows are presented based upon the nature of the distributions.
| (2) |  | Changes in parent company equity includes cash flows related to certain intercompany equity and funding transactions, and other intercompany activity.

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