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Note 2 - Cash, Cash Equivalents and Restricted Cash
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Cash and Cash Equivalents Disclosure [Text Block]

NOTE 2: CASH, CASH EQUIVALENTS AND RESTRICTED CASH

 

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Financial Position that sums to the total of such amounts shown in the Statement of Cash Flows:

 

   

September 30,

    

December 31,

  

(in millions)

  

2022

    

2021

  

Cash and cash equivalents

   $ 216     $ 362  

Restricted cash reported in Other current assets

     7       7  

Restricted cash

     57       54  

Total cash, cash equivalents and restricted cash shown in the Statement of Cash Flows

   $ 280     $ 423  

 

Restricted cash reported in Other current assets on the Consolidated Statement of Financial Position primarily represents amounts that support hedging activities.

 

Restricted cash includes $44 million and $45 million as of September 30, 2022 and December 31, 2021, respectively, representing the cash collateral required to be posted by the Company under the Letter of Credit Facility (“L/C Cash Collateral”). In addition, Restricted cash as of September 30, 2022 and December 31, 2021 includes an escrow of $5 million and $4 million, respectively, in China to secure various ongoing obligations under the agreements for a strategic relationship with Lucky HuaGuang Graphics Co. Ltd. Restricted cash also included $6 million and $3 million of security posted related to Brazilian legal contingencies as of September 30, 2022 and December 31, 2021, respectively.