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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities of continuing operations      
Net income $ 666 $ 341 $ 117
Income from discontinued operations, net of taxes 482 245 227
Income (loss) from continuing operations 184 96 (110)
Adjustments to reconcile income (loss) from continuing operations to net cash from operating activities      
Depreciation, amortization and net lease activity 392 385 378
Goodwill impairment 64 0 0
Stock compensation expense 77 31 37
Accretion of debt 16 18 20
Deferred tax expense (benefit) 80 7 (64)
Debt extinguishment loss 39 54 0
Gains on sales of property and equipment (60) (72) (90)
Other 31 1 33
Changes in assets and liabilities      
Accounts receivable (100) (171) 0
Other assets (3) 23 (32)
Accounts payable 62 98 (2)
Accrued expenses and other liabilities 42 20 126
Net cash provided by operating activities from continuing operations 824 490 296
Cash flows from investing activities of continuing operations      
Payment for purchases of property and equipment (521) (269) (249)
Proceeds from sale of property and equipment 88 131 175
Proceeds from settlement of cross currency swaps 29 0 0
Other 0 (3) 4
Net cash used in investing activities from continuing operations (404) (141) (70)
Cash flows from financing activities of continuing operations      
Proceeds from issuance of debt 0 0 1,155
Proceeds from (repayment of) borrowings related to securitization program 0 (24) 23
Repurchase of debt (1,068) (2,769) 0
Proceeds from borrowings on ABL facility 275 0 1,020
Repayment of borrowings on ABL facility (275) (200) (820)
Repayment of debt and finance leases (61) (80) (65)
Payment of debt issuance costs 0 (5) (22)
Cash paid in connection with preferred stock conversion 0 0 (22)
Issuance (repurchase) of common stock 0 384 (114)
Change in bank overdrafts (20) 0 21
Payment for tax withholdings for restricted shares (27) (28) (26)
Distribution from RXO and GXO spins, net 312 794 0
Other 3 (5) 4
Net cash provided by (used in) financing activities from continuing operations (861) (1,933) 1,154
Cash flows from discontinued operations      
Operating activities of discontinued operations 8 231 589
Investing activities of discontinued operations 649 (136) (287)
Financing activities of discontinued operations (1) (301) (18)
Net cash provided by (used in) discontinued operations 656 (206) 284
Effect of exchange rates on cash, cash equivalents and restricted cash (18) (2) 14
Net increase (decrease) in cash, cash equivalents and restricted cash 197 (1,792) 1,678
Cash, cash equivalents and restricted cash, beginning of year 273 2,065 387
Cash, cash equivalents and restricted cash, end of year 470 273 2,065
Less: Cash, cash equivalents and restricted cash of discontinued operations, end of year 0 35 397
Cash, cash equivalents and restricted cash of continuing operations, end of year 470 238 1,668
Supplemental disclosure of cash flow information from continuing operations:      
Cash paid for interest 145 253 314
Cash paid for income taxes $ 87 $ 78 $ 37