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v3.19.3.a.u2

Guarantor Condensed Consolidating Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Condensed Consolidating Statements of Comprehensive Income (Loss) | Condensed Consolidating Statements of Comprehensive Income (Loss)
| Year Ended December 31, 2019 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Net sales | $ | — |  |  | $ | 3,357 |  |  | $ | 3,656 |  |  | $ | (1,487 | ) |  | $ | 5,526 |
Cost of goods sold |  | — |  |  |  | 3,068 |  |  |  | 2,882 |  |  |  | (1,487 | ) |  |  | 4,463 |
Gross profit |  | — |  |  |  | 289 |  |  |  | 774 |  |  |  | — |  |  |  | 1,063 |
Selling, general, and administrative expense |  | 19 |  |  |  | 406 |  |  |  | 141 |  |  |  | (18 | ) |  |  | 548 |
Research and development expense |  | — |  |  |  | 73 |  |  |  | 7 |  |  |  | — |  |  |  | 80 |
Restructuring, asset-related, and other charges |  | — |  |  |  | 74 |  |  |  | 13 |  |  |  | — |  |  |  | 87 |
Total other operating expenses |  | 19 |  |  |  | 553 |  |  |  | 161 |  |  |  | (18 | ) |  |  | 715 |
Equity in earnings of affiliates |  | — |  |  |  | — |  |  |  | 29 |  |  |  | — |  |  |  | 29 |
Equity in earnings (loss) of subsidiaries |  | 73 |  |  |  | (3 | ) |  |  | — |  |  |  | (70 | ) |  |  | — |
Interest (expense) income, net |  | (209 | ) |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | (208 | )
Intercompany interest income (expense), net |  | 41 |  |  |  | 16 |  |  |  | (57 | ) |  |  | — |  |  |  | — |
Other income (expense), net |  | 21 |  |  |  | 122 |  |  |  | (417 | ) |  |  | (19 | ) |  |  | (293 | )
(Loss) income before income taxes |  | (93 | ) |  |  | (129 | ) |  |  | 169 |  |  |  | (71 | ) |  |  | (124 | )
Benefit from income taxes |  | (41 | ) |  |  | (28 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (72 | )
Net (loss) income |  | (52 | ) |  |  | (101 | ) |  |  | 171 |  |  |  | (70 | ) |  |  | (52 | )
Less: Net income attributable to non-controlling interests |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net (loss) income attributable to Chemours | $ | (52 | ) |  | $ | (101 | ) |  | $ | 171 |  |  | $ | (70 | ) |  | $ | (52 | )
Comprehensive income (loss) attributable to Chemours | $ | 163 |  |  | $ | (101 | ) |  | $ | 371 |  |  | $ | (270 | ) |  | $ | 163 |
Condensed Consolidating Statements of Comprehensive Income (Loss)
| Year Ended December 31, 2018 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Net sales | $ | — |  |  | $ | 3,974 |  |  | $ | 4,484 |  |  | $ | (1,820 | ) |  | $ | 6,638 |
Cost of goods sold |  | — |  |  |  | 3,112 |  |  |  | 3,380 |  |  |  | (1,825 | ) |  |  | 4,667 |
Gross profit |  | — |  |  |  | 862 |  |  |  | 1,104 |  |  |  | 5 |  |  |  | 1,971 |
Selling, general, and administrative expense |  | 33 |  |  |  | 485 |  |  |  | 163 |  |  |  | (24 | ) |  |  | 657 |
Research and development expense |  | — |  |  |  | 76 |  |  |  | 6 |  |  |  | — |  |  |  | 82 |
Restructuring, asset-related, and other charges |  | — |  |  |  | 46 |  |  |  | 3 |  |  |  | — |  |  |  | 49 |
Total other operating expenses |  | 33 |  |  |  | 607 |  |  |  | 172 |  |  |  | (24 | ) |  |  | 788 |
Equity in earnings of affiliates |  | — |  |  |  | — |  |  |  | 43 |  |  |  | — |  |  |  | 43 |
Equity in earnings of subsidiaries |  | 1,155 |  |  |  | 2 |  |  |  | — |  |  |  | (1,157 | ) |  |  | — |
Interest (expense) income, net |  | (210 | ) |  |  | 5 |  |  |  | 10 |  |  |  | — |  |  |  | (195 | )
Loss on extinguishment of debt |  | (38 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (38 | )
Intercompany interest income (expense), net |  | 47 |  |  |  | 10 |  |  |  | (57 | ) |  |  | — |  |  |  | — |
Other income (expense), net |  | 25 |  |  |  | 199 |  |  |  | (40 | ) |  |  | (22 | ) |  |  | 162 |
Income before income taxes |  | 946 |  |  |  | 471 |  |  |  | 888 |  |  |  | (1,150 | ) |  |  | 1,155 |
(Benefit from) provision for income taxes |  | (50 | ) |  |  | 98 |  |  |  | 111 |  |  |  | — |  |  |  | 159 |
Net income |  | 996 |  |  |  | 373 |  |  |  | 777 |  |  |  | (1,150 | ) |  |  | 996 |
Less: Net income attributable to non-controlling interests |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Net income attributable to Chemours | $ | 996 |  |  | $ | 373 |  |  | $ | 776 |  |  | $ | (1,150 | ) |  | $ | 995 |
Comprehensive income attributable to Chemours | $ | 873 |  |  | $ | 375 |  |  | $ | 637 |  |  | $ | (1,012 | ) |  | $ | 873 |
Condensed Consolidating Statements of Comprehensive Income (Loss)
| Year Ended December 31, 2017 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Net sales | $ | — |  |  | $ | 3,887 |  |  | $ | 4,030 |  |  | $ | (1,734 | ) |  | $ | 6,183 |
Cost of goods sold |  | — |  |  |  | 3,084 |  |  |  | 3,045 |  |  |  | (1,691 | ) |  |  | 4,438 |
Gross profit |  | — |  |  |  | 803 |  |  |  | 985 |  |  |  | (43 | ) |  |  | 1,745 |
Selling, general, and administrative expense |  | 36 |  |  |  | 449 |  |  |  | 179 |  |  |  | (38 | ) |  |  | 626 |
Research and development expense |  | — |  |  |  | 74 |  |  |  | 7 |  |  |  | — |  |  |  | 81 |
Restructuring, asset-related, and other charges |  | — |  |  |  | 56 |  |  |  | 1 |  |  |  | — |  |  |  | 57 |
Total other operating expenses |  | 36 |  |  |  | 579 |  |  |  | 187 |  |  |  | (38 | ) |  |  | 764 |
Equity in earnings of affiliates |  | — |  |  |  | — |  |  |  | 33 |  |  |  | — |  |  |  | 33 |
Equity in earnings of subsidiaries |  | 849 |  |  |  | — |  |  |  | — |  |  |  | (849 | ) |  |  | — |
Interest (expense) income, net |  | (220 | ) |  |  | 3 |  |  |  | 3 |  |  |  | — |  |  |  | (214 | )
Loss on extinguishment of debt |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Intercompany interest income (expense), net |  | 64 |  |  |  | — |  |  |  | (64 | ) |  |  | — |  |  |  | — |
Other income (expense), net |  | 29 |  |  |  | 139 |  |  |  | (21 | ) |  |  | (34 | ) |  |  | 113 |
Income before income taxes |  | 685 |  |  |  | 366 |  |  |  | 749 |  |  |  | (888 | ) |  |  | 912 |
(Benefit from) provision for income taxes |  | (62 | ) |  |  | 117 |  |  |  | 114 |  |  |  | (4 | ) |  |  | 165 |
Net income |  | 747 |  |  |  | 249 |  |  |  | 635 |  |  |  | (884 | ) |  |  | 747 |
Less: Net income attributable to non-controlling interests |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Net income attributable to Chemours | $ | 747 |  |  | $ | 249 |  |  | $ | 634 |  |  | $ | (884 | ) |  | $ | 746 |
Comprehensive income attributable to Chemours | $ | 881 |  |  | $ | 253 |  |  | $ | 828 |  |  | $ | (1,081 | ) |  | $ | 881 |
Condensed Consolidating Balance Sheets | Condensed Consolidating Balance Sheets
| Year Ended December 31, 2019 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 104 |  |  | $ | 839 |  |  | $ | — |  |  | $ | 943 |
Accounts and notes receivable, net |  | — |  |  |  | 53 |  |  |  | 621 |  |  |  | — |  |  |  | 674 |
Intercompany receivable |  | 2 |  |  |  | 1,023 |  |  |  | 180 |  |  |  | (1,205 | ) |  |  | — |
Inventories |  | — |  |  |  | 552 |  |  |  | 612 |  |  |  | (85 | ) |  |  | 1,079 |
Prepaid expenses and other |  | — |  |  |  | 60 |  |  |  | 15 |  |  |  | 6 |  |  |  | 81 |
Total current assets |  | 2 |  |  |  | 1,792 |  |  |  | 2,267 |  |  |  | (1,284 | ) |  |  | 2,777 |
Property, plant, and equipment |  | — |  |  |  | 7,207 |  |  |  | 2,206 |  |  |  | — |  |  |  | 9,413 |
Less: Accumulated depreciation |  | — |  |  |  | (4,697 | ) |  |  | (1,157 | ) |  |  | — |  |  |  | (5,854 | )
Property, plant, and equipment, net |  | — |  |  |  | 2,510 |  |  |  | 1,049 |  |  |  | — |  |  |  | 3,559 |
Operating lease right-of-use assets |  | — |  |  |  | 273 |  |  |  | 21 |  |  |  | — |  |  |  | 294 |
Goodwill and other intangible assets, net |  | — |  |  |  | 160 |  |  |  | 14 |  |  |  | — |  |  |  | 174 |
Investments in affiliates |  | — |  |  |  | — |  |  |  | 162 |  |  |  | — |  |  |  | 162 |
Investments in subsidiaries |  | 4,077 |  |  |  | 148 |  |  |  | — |  |  |  | (4,225 | ) |  |  | — |
Intercompany notes receivable |  | 1,250 |  |  |  | — |  |  |  | — |  |  |  | (1,250 | ) |  |  | — |
Other assets |  | 7 |  |  |  | 140 |  |  |  | 145 |  |  |  | — |  |  |  | 292 |
Total assets | $ | 5,336 |  |  | $ | 5,023 |  |  | $ | 3,658 |  |  | $ | (6,759 | ) |  | $ | 7,258 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 528 |  |  | $ | 395 |  |  | $ | — |  |  | $ | 923 |
Short-term and current maturities of long-term debt |  | 13 |  |  |  | 11 |  |  |  | 110 |  |  |  | — |  |  |  | 134 |
Intercompany payable |  | 720 |  |  |  | 138 |  |  |  | 345 |  |  |  | (1,203 | ) |  |  | — |
Other accrued liabilities |  | 21 |  |  |  | 294 |  |  |  | 171 |  |  |  | (2 | ) |  |  | 484 |
Total current liabilities |  | 754 |  |  |  | 971 |  |  |  | 1,021 |  |  |  | (1,205 | ) |  |  | 1,541 |
Long-term debt, net |  | 3,876 |  |  |  | 150 |  |  |  | — |  |  |  | — |  |  |  | 4,026 |
Operating lease liabilities |  | — |  |  |  | 233 |  |  |  | 12 |  |  |  | — |  |  |  | 245 |
Intercompany notes payable |  | — |  |  |  | — |  |  |  | 1,250 |  |  |  | (1,250 | ) |  |  | — |
Deferred income taxes |  | 17 |  |  |  | 45 |  |  |  | 56 |  |  |  | — |  |  |  | 118 |
Other liabilities |  | — |  |  |  | 551 |  |  |  | 82 |  |  |  | — |  |  |  | 633 |
Total liabilities |  | 4,647 |  |  |  | 1,950 |  |  |  | 2,421 |  |  |  | (2,455 | ) |  |  | 6,563 |
Commitments and contingent liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Chemours stockholders’ equity |  | 689 |  |  |  | 3,073 |  |  |  | 1,231 |  |  |  | (4,304 | ) |  |  | 689 |
Non-controlling interests |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 6 |
Total equity |  | 689 |  |  |  | 3,073 |  |  |  | 1,237 |  |  |  | (4,304 | ) |  |  | 695 |
Total liabilities and equity | $ | 5,336 |  |  | $ | 5,023 |  |  | $ | 3,658 |  |  | $ | (6,759 | ) |  | $ | 7,258 |
Condensed Consolidating Balance Sheets
| Year Ended December 31, 2018 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 239 |  |  | $ | 962 |  |  | $ | — |  |  | $ | 1,201 |
Accounts and notes receivable, net |  | — |  |  |  | 297 |  |  |  | 564 |  |  |  | — |  |  |  | 861 |
Intercompany receivable |  | 2 |  |  |  | 1,057 |  |  |  | 91 |  |  |  | (1,150 | ) |  |  | — |
Inventories |  | — |  |  |  | 483 |  |  |  | 749 |  |  |  | (85 | ) |  |  | 1,147 |
Prepaid expenses and other |  | — |  |  |  | 58 |  |  |  | 26 |  |  |  | — |  |  |  | 84 |
Total current assets |  | 2 |  |  |  | 2,134 |  |  |  | 2,392 |  |  |  | (1,235 | ) |  |  | 3,293 |
Property, plant, and equipment |  | — |  |  |  | 6,870 |  |  |  | 2,122 |  |  |  | — |  |  |  | 8,992 |
Less: Accumulated depreciation |  | — |  |  |  | (4,591 | ) |  |  | (1,110 | ) |  |  | — |  |  |  | (5,701 | )
Property, plant, and equipment, net |  | — |  |  |  | 2,279 |  |  |  | 1,012 |  |  |  | — |  |  |  | 3,291 |
Goodwill and other intangible assets, net |  | — |  |  |  | 167 |  |  |  | 14 |  |  |  | — |  |  |  | 181 |
Investments in affiliates |  | — |  |  |  | — |  |  |  | 160 |  |  |  | — |  |  |  | 160 |
Investments in subsidiaries |  | 4,487 |  |  |  | 11 |  |  |  | — |  |  |  | (4,498 | ) |  |  | — |
Intercompany notes receivable |  | 1,150 |  |  |  | — |  |  |  | — |  |  |  | (1,150 | ) |  |  | — |
Other assets |  | 17 |  |  |  | 154 |  |  |  | 274 |  |  |  | (8 | ) |  |  | 437 |
Total assets | $ | 5,656 |  |  | $ | 4,745 |  |  | $ | 3,852 |  |  | $ | (6,891 | ) |  | $ | 7,362 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 637 |  |  | $ | 500 |  |  | $ | — |  |  | $ | 1,137 |
Current maturities of long-term debt |  | 13 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13 |
Intercompany payable |  | 698 |  |  |  | 92 |  |  |  | 360 |  |  |  | (1,150 | ) |  |  | — |
Other accrued liabilities |  | 21 |  |  |  | 341 |  |  |  | 198 |  |  |  | (1 | ) |  |  | 559 |
Total current liabilities |  | 732 |  |  |  | 1,070 |  |  |  | 1,058 |  |  |  | (1,151 | ) |  |  | 1,709 |
Long-term debt, net |  | 3,902 |  |  |  | 57 |  |  |  | — |  |  |  | — |  |  |  | 3,959 |
Intercompany notes payable |  | — |  |  |  | — |  |  |  | 1,150 |  |  |  | (1,150 | ) |  |  | — |
Deferred income taxes |  | 8 |  |  |  | 143 |  |  |  | 82 |  |  |  | (16 | ) |  |  | 217 |
Other liabilities |  | — |  |  |  | 372 |  |  |  | 85 |  |  |  | — |  |  |  | 457 |
Total liabilities |  | 4,642 |  |  |  | 1,642 |  |  |  | 2,375 |  |  |  | (2,317 | ) |  |  | 6,342 |
Commitments and contingent liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Chemours stockholders’ equity |  | 1,014 |  |  |  | 3,103 |  |  |  | 1,471 |  |  |  | (4,574 | ) |  |  | 1,014 |
Non-controlling interests |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 6 |
Total equity |  | 1,014 |  |  |  | 3,103 |  |  |  | 1,477 |  |  |  | (4,574 | ) |  |  | 1,020 |
Total liabilities and equity | $ | 5,656 |  |  | $ | 4,745 |  |  | $ | 3,852 |  |  | $ | (6,891 | ) |  | $ | 7,362 |
Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows
| Year Ended December 31, 2019 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash provided by (used for) operating activities | $ | 140 |  |  | $ | (892 | ) |  | $ | 1,684 |  |  | $ | (282 | ) |  | $ | 650 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | — |  |  |  | (403 | ) |  |  | (78 | ) |  |  | — |  |  |  | (481 | )
Intercompany investing activities |  | — |  |  |  | 26 |  |  |  | (398 | ) |  |  | 372 |  |  |  | — |
Acquisition of business, net |  | — |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | (10 | )
Proceeds from sales of assets and businesses, net |  | — |  |  |  | 7 |  |  |  | 2 |  |  |  | — |  |  |  | 9 |
Proceeds from life insurance policies |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |
Foreign exchange contract settlements, net |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | (2 | )
Cash used for investing activities |  | — |  |  |  | (381 | ) |  |  | (474 | ) |  |  | 372 |  |  |  | (483 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from revolving loan |  | 150 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 150 |
Repayments on revolving loan |  | (150 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (150 | )
Proceeds from accounts receivable securitization facility |  | — |  |  |  | — |  |  |  | 128 |  |  |  | — |  |  |  | 128 |
Debt repayments |  | (13 | ) |  |  | (5 | ) |  |  | (19 | ) |  |  | — |  |  |  | (37 | )
Payments on finance leases |  | — |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |  |  | (3 | )
Purchases of treasury stock, at cost |  | (322 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (322 | )
Intercompany financing activities (1) |  | 380 |  |  |  | 1,144 |  |  |  | (1,434 | ) |  |  | (90 | ) |  |  | — |
Proceeds from exercised stock options, net |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |
Payments related to tax withholdings on vested stock awards |  | (30 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (30 | )
Payments of dividends |  | (164 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (164 | )
Cash (used for) provided by financing activities |  | (140 | ) |  |  | 1,138 |  |  |  | (1,327 | ) |  |  | (90 | ) |  |  | (419 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |  |  |  | (6 | )
Decrease in cash and cash equivalents |  | — |  |  |  | (135 | ) |  |  | (123 | ) |  |  | — |  |  |  | (258 | )
Cash and cash equivalents at January 1, |  | — |  |  |  | 239 |  |  |  | 962 |  |  |  | — |  |  |  | 1,201 |
Cash and cash equivalents at December 31, | $ | — |  |  | $ | 104 |  |  | $ | 839 |  |  | $ | — |  |  | $ | 943 |
| (1) | During the year ended December 31, 2019, the Company received $1,034 in collections on its accounts receivable sold into the SPE under the Securitization Facility, which, inclusive of net borrowings, led to a total of $1,144 received by the SPE and distributed to the Guarantor Subsidiaries during the period.
Condensed Consolidating Statements of Cash Flows
| Year Ended December 31, 2018 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash (used for) provided by operating activities | $ | (159 | ) |  | $ | 10 |  |  | $ | 1,289 |  |  | $ | — |  |  | $ | 1,140 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | — |  |  |  | (390 | ) |  |  | (108 | ) |  |  | — |  |  |  | (498 | )
Acquisition of business, net |  | — |  |  |  | (37 | ) |  |  | — |  |  |  | — |  |  |  | (37 | )
Proceeds from sales of assets and businesses, net |  | — |  |  |  | 46 |  |  |  | — |  |  |  | — |  |  |  | 46 |
Intercompany investing activities |  | — |  |  |  | (153 | ) |  |  | (999 | ) |  |  | 1,152 |  |  |  | — |
Foreign exchange contract settlements, net |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 2 |
Cash used for investing activities |  | — |  |  |  | (532 | ) |  |  | (1,107 | ) |  |  | 1,152 |  |  |  | (487 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt, net |  | 520 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 520 |
Debt repayments |  | (679 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (679 | )
Payments related to extinguishment of debt |  | (29 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (29 | )
Payments of debt issuance costs |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12 | )
Purchases of treasury stock, at cost |  | (644 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (644 | )
Intercompany financing activities |  | 1,152 |  |  |  | — |  |  |  | — |  |  |  | (1,152 | ) |  |  | — |
Proceeds from exercised stock options, net |  | 16 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16 |
Payments related to tax withholdings on vested restricted stock units |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (17 | )
Payments of dividends |  | (148 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (148 | )
Cash provided by (used for) financing activities |  | 159 |  |  |  | — |  |  |  | — |  |  |  | (1,152 | ) |  |  | (993 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  |  | — |  |  |  | (15 | ) |  |  | — |  |  |  | (15 | )
(Decrease) increase in cash and cash equivalents |  | — |  |  |  | (522 | ) |  |  | 167 |  |  |  | — |  |  |  | (355 | )
Cash and cash equivalents at January 1, |  | — |  |  |  | 761 |  |  |  | 795 |  |  |  | — |  |  |  | 1,556 |
Cash and cash equivalents at December 31, | $ | — |  |  | $ | 239 |  |  | $ | 962 |  |  | $ | — |  |  | $ | 1,201 |
Condensed Consolidating Statements of Cash Flows
| Year Ended December 31, 2017 |
| Parent Issuer |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations and Adjustments |  |  | Consolidated |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash (used for) provided by operating activities | $ | (132 | ) |  | $ | 603 |  |  | $ | 169 |  |  | $ | — |  |  | $ | 640 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant, and equipment |  | — |  |  |  | (327 | ) |  |  | (84 | ) |  |  | — |  |  |  | (411 | )
Proceeds from sales of assets and businesses, net |  | — |  |  |  | 39 |  |  |  | — |  |  |  | — |  |  |  | 39 |
Intercompany investing activities |  | — |  |  |  | 220 |  |  |  | — |  |  |  | (220 | ) |  |  | — |
Foreign exchange contract settlements, net |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 2 |
Cash used for investing activities |  | — |  |  |  | (66 | ) |  |  | (84 | ) |  |  | (220 | ) |  |  | (370 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany short-term borrowings, net |  | (220 | ) |  |  | — |  |  |  | — |  |  |  | 220 |  |  |  | — |
Proceeds from issuance of debt, net |  | 495 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 495 |
Debt repayments |  | (27 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (27 | )
Payments related to extinguishment of debt |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1 | )
Payments of debt issuance costs |  | (6 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6 | )
Purchases of treasury stock, at cost |  | (106 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (106 | )
Proceeds from exercised stock options, net |  | 31 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 31 |
Payments related to tax withholdings on vested restricted stock units |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12 | )
Payments of dividends |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (22 | )
Cash provided by financing activities |  | 132 |  |  |  | — |  |  |  | — |  |  |  | 220 |  |  |  | 352 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | 32 |
Increase in cash and cash equivalents |  | — |  |  |  | 537 |  |  |  | 117 |  |  |  | — |  |  |  | 654 |
Cash and cash equivalents at January 1, |  | — |  |  |  | 224 |  |  |  | 678 |  |  |  | — |  |  |  | 902 |
Cash and cash equivalents at December 31, | $ | — |  |  | $ | 761 |  |  | $ | 795 |  |  | $ | — |  |  | $ | 1,556 |

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