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CONDENSED COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ 231 $ 471
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 151 126
Amortization 15 35
Equity income of affiliated companies (15) (15)
Gain on sale of fixed assets (15) 0
Stock compensation expense 19 13
Deferred income taxes (6) (5)
Other 1 2
Changes in assets and liabilities    
Accounts receivable [1] (46) 18
Inventories (150) 4
Other current assets (24) (13)
Accounts payable [2] 82 (35)
Deferred income and customer advances 2 (43)
Accrued liabilities [3] 26 45
Other changes in assets and liabilities [4] 18 (36)
Net cash provided by operating activities 289 567
Cash flows from investing activities:    
Capital expenditures (248) (201)
Cash paid for long-life catalysts and deferred maintenance (1) (1)
Proceeds from disposals of property, plant, and equipment 23 0
Other (2) (2)
Net cash used for investing activities (228) (204)
Cash flows from financing activities:    
Net transfers to Parent (310) (297)
Finance lease payments (18) (28)
Net cash used for financing activities (328) (325)
Effect of foreign exchange rate changes on cash and cash equivalents 23 1
Net increase in cash and cash equivalents (244) 39
Cash and cash equivalents at beginning of period 661 606
Cash and cash equivalents at end of period $ 417 $ 645
[1] Includes decrease in related party receivables of $9 million and $5 million for the nine months ended September 30, 2025 and 2024, respectively.
[2] Includes increase/(decrease) in related party accounts payables of $1 million and $(5) million for the nine months ended September 30, 2025 and 2024, respectively.
[3] Includes increase in related party accrued liabilities of $5 million and $5 million for the nine months ended September 30, 2025 and 2024, respectively.
[4] Includes decrease/(increase) in related party long-term receivable of $7 million and $(7) million for the nine months ended September 30, 2025 and 2024, respectively.