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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (42) $ 143
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 107 28
Unrealized loss on derivatives not designated as hedging instruments 13 3
Amortization of debt issuance costs and original issue discount 8 0
Gain on sale of long-lived assets 0 (7)
Stock-based compensation 18 8
Provision for excess and obsolete inventory 18 4
Deferred income taxes (10) (2)
Changes in operating assets and liabilities    
Accounts receivable 150 (40)
Inventories (96) (66)
Other current and non-current assets (14) (5)
Accounts payable (55) 5
Accrued compensation (34) (60)
Income taxes payable (49) 15
Other current and non-current liabilities 23 15
Net cash provided by operating activities 37 41
Cash flows from investing activities:    
Maturities of investments 0 35
Proceeds from sale of long-lived assets 0 7
Purchases of property, plant and equipment (17) (19)
Net cash (used in) provided by investing activities (17) 23
Cash flows from financing activities:    
Proceeds from borrowings 2 3
Payments of borrowings (23) (2)
Dividend payments (15) (12)
Net payments related to employee stock awards (6) (6)
Other financing activities (1) (0)
Net cash used in financing activities (43) (17)
Effect of exchange rate changes on cash and cash equivalents (6) (2)
(Decrease) increase in cash and cash equivalents (29) 45
Cash and cash equivalents at beginning of period 909 966
Cash and cash equivalents at end of period $ 880 $ 1,011