XML 25 R7.htm IDEA: XBRL DOCUMENT v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 105 $ 140
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 53 50
Amortization 6 7
Equity income of affiliated companies (4) (6)
Gain on sale of fixed assets 0 (15)
Stock-based compensation expense 5 6
Other non-cash adjustments 0 (1)
Changes in assets and liabilities    
Accounts receivable [1] (10) (4)
Inventories 8 (38)
Other assets 16 10
Accounts payable [2] (6) (19)
Accrued and other liabilities, current [3] 25 28
Deferred income taxes 4 (1)
Deferred income and customer advances 2 0
Other liabilities, noncurrent (3) 3
Net cash provided by operating activities 199 160
Cash flows from investing activities:    
Capital expenditures paid (75) (62)
Proceeds from disposals of property, plant, and equipment 0 23
Capitalized software (1) 0
Net cash used for investing activities (77) (39)
Cash flows from financing activities:    
Dividends (12) 0
Finance lease payments (3) (8)
Net transfers to Parent 0 (110)
Net cash used for financing activities (15) (118)
Effect of foreign exchange rate changes on cash and cash equivalents 1 5
Net increase in cash and cash equivalents 108 8
Cash and cash equivalents at beginning of period 534 661
Cash and cash equivalents at end of period $ 642 $ 668
[1] Includes decrease in short term related party receivables of $5 million and $8 million for the three months ended March 31, 2026 and 2025, respectively.
[2] Includes increase in related party accounts payables of $4 million and $1 million for the three months ended March 31, 2026 and 2025, respectively.
[3] Includes increase in related party accrued liabilities of $2 million and $2 million for the three months ended March 31, 2026 and 2025, respectively.