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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 411,000,000 $ (73,000,000) $ 256,000,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 124,000,000 142,000,000 133,000,000
Amortization of intangible assets 222,000,000 192,000,000 190,000,000
Fixed asset impairment 0 3,000,000 33,000,000
Goodwill impairment 0 157,000,000 0
Indefinite-lived intangible asset impairment 0 39,000,000 9,000,000
Deferred income taxes (25,000,000) (62,000,000) (40,000,000)
Stock based compensation expense 48,000,000 47,000,000 66,000,000
Other non-cash (income) expense 34,000,000 3,000,000 6,000,000
(Gain) loss on sale on non-strategic businesses and product lines (14,000,000) 1,000,000 2,000,000
Changes in operating assets and liabilities, net of acquisitions:      
Accounts and notes receivable-trade, net (117,000,000) 131,000,000 (90,000,000)
Inventories, net (64,000,000) 123,000,000 11,000,000
Prepaid expenses and other current assets, net (32,000,000) 39,000,000 12,000,000
Other noncurrent assets (10,000,000) 1,000,000 (9,000,000)
Accounts payable (49,000,000) (28,000,000) 27,000,000
Accrued liabilities 100,000,000 (10,000,000) 59,000,000
Income taxes 17,000,000 (41,000,000) (14,000,000)
Other noncurrent liabilities 12,000,000 (15,000,000) (12,000,000)
Net cash provided by operating activities 657,000,000 649,000,000 639,000,000
Cash flows from investing activities:      
Cash paid for acquisitions of businesses and equity investments, net of cash acquired (248,000,000) (1,078,000,000) (3,000,000)
Cash received on sale of non-strategic businesses or product lines 28,000,000 1,000,000 11,000,000
Capital expenditures (142,000,000) (87,000,000) (123,000,000)
Cash received on derivative contracts 2,000,000 58,000,000 40,000,000
Other investing activities, net 2,000,000 0 6,000,000
Net cash used in investing activities (358,000,000) (1,106,000,000) (69,000,000)
Cash flows from financing activities:      
Proceeds from long-term borrowings, net of deferred financing costs 16,000,000 1,448,000,000 120,000,000
Repayments on long-term borrowings (297,000,000) (701,000,000) (251,000,000)
Net borrowings (repayments) on short-term borrowings 179,000,000 2,000,000 (69,000,000)
Payments on terminated derivative instruments 0 (30,000,000) 0
Proceeds from exercised stock options 51,000,000 11,000,000 109,000,000
Cash paid for treasury stock (200,000,000) (140,000,000) (260,000,000)
Cash dividends paid (92,000,000) (88,000,000) (81,000,000)
Other financing activities, net (36,000,000) (26,000,000) (40,000,000)
Net cash (used in) provided by financing activities (379,000,000) 476,000,000 (472,000,000)
Effect of exchange rate changes on cash and cash equivalents (19,000,000) 14,000,000 (3,000,000)
Net (decrease) increase in cash and cash equivalents (99,000,000) 33,000,000 95,000,000
Cash and cash equivalents at beginning of period 438,000,000 405,000,000 310,000,000
Cash and cash equivalents at end of period 339,000,000 438,000,000 405,000,000
Supplemental disclosures of cash flow information:      
Interest paid, net of amounts capitalized 64,000,000 45,000,000 30,000,000
Income taxes paid, net of refunds 148,000,000 82,000,000 112,000,000
Non-cash investing activities:      
Property, plant and equipment in accounts payable at end of period 33,000,000 14,000,000 14,000,000
Exchange of inventory for naming rights $ 2,000,000 $ 4,000,000 $ 3,000,000