XML 23 R6.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOW - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows provided by (used for) operating activities:      
Net income $ 37 $ 36 $ 405
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 86 80 66
Stock compensation expense 29 25 20
Deferred income taxes 22 (25) (323)
Other 21 18 22
Changes in assets and liabilities, net of acquired companies:      
Accounts receivable (27) 7 (62)
Inventories – net 19 (44) (172)
Other current assets 5 (53) (27)
Other assets   (15) (4)
Accounts payable (1) (38) 231
Accrued liabilities 31 28 61
Obligations payable under Indemnification Agreements (4) (35) 24
Other liabilities 26 39 221
Net cash provided by operating activities 244 23 462
Cash flows (used for) provided by for investing activities:      
Expenditures for property, plant, equipment and other intangibles (70) (95) (81)
Cash paid for acquisitions, net of cash acquired (35) (17)  
Other 2   7
Net cash used for investing activities (103) (112) (74)
Cash flows provided by (used for) financing activities:      
Issuance of common stock through public offering, net of issuance cost 279    
Proceeds from long-term debt     1,225
Payment of debt facility issuance and modification costs   (4) (29)
Repayment of long-term debt (22) (22)  
Distribution to Honeywell in connection with Spin-Off     (1,415)
Net increase in invested equity     39
Non-operating obligations from Honeywell, net (2) (24) 26
Other (2) (3) (13)
Net cash provided by (used for) financing activities 253 (53) (167)
Effect of foreign exchange rate changes on cash and cash equivalents 1 (1) (12)
Net increase (decrease) in cash and cash equivalents 395 (143) 209
Cash and cash equivalents at beginning of period 122 265 56
Cash and cash equivalents at end of period 517 122 265
Supplemental Cash Flow Information:      
Interest paid 57 72  
Income taxes paid (net of refunds) $ 32 $ 86 $ 28