v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 254 $ 195
Adjustment to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 207 207
Amortization of deferred financing costs and original issue discount 6 7
Debt extinguishment and refinancing-related costs 3 7
Deferred income taxes 10 (8)
Realized and unrealized foreign exchange losses, net 12 21
Stock-based compensation 21 19
Impairment charges 0 15
Interest income on swaps designated as net investment hedges (10) (9)
Other non-cash, net 5 25
Changes in operating assets and liabilities:    
Trade accounts and notes receivable (16) (213)
Inventories (54) 66
Prepaid expenses and other assets (106) (68)
Accounts payable (18) 17
Other accrued liabilities (2) 9
Other liabilities 30 (1)
Cash provided by operating activities 342 289
Investing activities:    
Acquisitions, net of cash acquired (290) 0
Purchase of property, plant and equipment (78) (105)
Interest proceeds on swaps designated as net investment hedges 10 9
Settlement proceeds on swaps designated as net investment hedges 0 29
Payments for loans to customers (21) (1)
Other investing activities, net 5 3
Cash used for investing activities (374) (65)
Financing activities:    
Proceeds from short-term borrowings 0 9
Proceeds from long-term borrowings 292 197
Payments on short-term borrowings (5) (40)
Payments on long-term borrowings (273) (359)
Financing-related costs (5) (9)
Purchases of common stock (100) (50)
Net cash flows associated with stock-based awards 1 7
Deferred acquisition-related consideration 0 (8)
Other financing activities, net 0 1
Cash used for financing activities (90) (252)
Decrease in cash (122) (28)
Effect of exchange rate changes on cash (10) (19)
Cash at beginning of period 703 655
Cash at end of period 571 608
Cash at end of period reconciliation:    
Cash and cash equivalents 567 606
Restricted cash 4 2
Cash at end of period $ 571 $ 608

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