XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net income $ 25 $ 16
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 71 68
Deferred income taxes (1) 4
Share-based compensation expense 6 7
Amortization of deferred debt issuance costs and discount on debt 2 2
Loss on extinguishment of debt 0 1
Venator settlement 0 85
Other non-cash items affecting net income 16 2
Changes in assets and liabilities:    
Increase in accounts receivable, net of allowance for credit losses (41) (11)
(Increase) decrease in inventories, net (83) 21
Decrease (increase) in prepaid and other assets 2 (17)
(Decrease) increase in accounts payable and accrued liabilities (68) 18
Net changes in income tax payables and receivables 2 7
Changes in other non-current assets and liabilities (10) (14)
Cash (used in) provided by operating activities (79) 189
Cash Flows from Investing Activities:    
Capital expenditures (93) (103)
Proceeds from sale of assets 2 1
Cash used in investing activities (91) (102)
Cash Flows from Financing Activities:    
Repayments of short-term debt (26) 0
Repayments of long-term debt (4) (3)
Proceeds from short-term debt 152 0
Repurchase of common stock 0 (25)
Dividends paid (2) (1)
Cash provided by (used in) financing activities 120 (29)
Effects of exchange rate changes on cash and cash equivalents 1 6
Net (decrease) increase in cash and cash equivalents (49) 64
Cash and cash equivalents at beginning of period 164 232
Cash and cash equivalents at end of period 115 296
Supplemental cash flow information:    
Interest paid, net 34 34
Income taxes paid $ 7 $ 7