XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net income $ 16 $ 26
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 68 84
Deferred income taxes 4 (3)
Share-based compensation expense 7 9
Amortization of deferred debt issuance costs and discount on debt 2 3
Loss on extinguishment of debt 1 34
Venator settlement 85 0
Other non-cash items affecting net income 2 14
Changes in assets and liabilities:    
Increase in accounts receivable, net of allowance for credit losses (11) (120)
Decrease in inventories, net 21 63
(Increase) decrease in prepaid and other assets (17) 32
Increase in accounts payable and accrued liabilities 18 2
Net changes in income tax payables and receivables 7 7
Changes in other non-current assets and liabilities (14) (16)
Cash provided by operating activities 189 135
Cash Flows from Investing Activities:    
Capital expenditures (103) (58)
Insurance proceeds 0 1
Proceeds from sale of assets 1 0
Cash used in investing activities (102) (57)
Cash Flows from Financing Activities:    
Repayments of long-term debt (3) (2,260)
Proceeds from long-term debt 0 2,375
Repurchase of common stock (25) 0
Call premiums paid 0 (21)
Debt issuance costs 0 (30)
Dividends paid (1) (14)
Restricted stock and performance-based shares settled in cash for withholding taxes 0 (2)
Cash (used in) provided by financing activities (29) 48
Effects of exchange rate changes on cash and cash equivalents and restricted cash 6 (7)
Net increase in cash, cash equivalents and restricted cash 64 119
Cash, cash equivalents and restricted cash at beginning of period 232 648
Cash, cash equivalents and restricted cash at end of period 296 767
Supplemental cash flow information:    
Interest paid, net 34 30
Income taxes paid $ 7 $ 3