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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net income $ 173 $ 150
Adjustments to reconcile net income to net cash (used for) provided by operating activities:    
Depreciation and amortization 123 122
Stock-based compensation expense 10 10
Below market intangible amortization (12) (12)
Net loss on disposal of property, plant and equipment 3 2
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable and unbilled accounts receivable (51) 93
Inventories (188) (137)
Accounts payable 47 48
Accrued income taxes (25) 16
Accrued liabilities and customer deposits (79) (66)
Other assets and liabilities (26) (65)
Net cash (used for) provided by operating activities (25) 161
Investing Activities    
Purchase of property, plant and equipment (32) (20)
Proceeds from disposal of property, plant and equipment 0 2
Net cash used for investing activities (32) (18)
Financing Activities    
Proceeds from debt, net of issuance costs 1,302 2,012
Payments of debt (1,148) (1,817)
Repurchase of stock (178) (296)
Cash dividends (31) (28)
Payment of income tax withholding on share-based compensation (14) (2)
Other financing activities (3) (2)
Net cash used for financing activities (72) (133)
Effect of changes in currency exchange rates 5 5
(Decrease) increase in cash (124) 15
Cash, cash equivalents and restricted cash, beginning of period 541 473
Cash, cash equivalents and restricted cash, end of period $ 417 $ 488