v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income $ 391 $ 269 $ 192
Adjustment to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 280 276 303
Amortization of deferred financing costs and original issue discount 7 9 10
Debt extinguishment and refinancing-related costs 5 10 15
Deferred income taxes (17) (8) (3)
Realized and unrealized foreign exchange losses, net 11 21 16
Stock-based compensation 28 26 22
Impairment charges 0 15 1
Gains on sales of facilities 0 0 (2)
Interest income on swaps designated as net investment hedges (15) (10) (20)
Commercial agreement restructuring charge 0 0 25
Other non-cash, net 9 22 6
Changes in operating assets and liabilities:      
Trade accounts and notes receivable (7) (119) (171)
Inventories 12 103 (195)
Prepaid expenses and other assets (130) (71) (81)
Accounts payable (49) 9 138
Other accrued liabilities 36 29 45
Other liabilities 15 (6) (7)
Cash provided by operating activities 576 575 294
Investing activities:      
Acquisitions, net of cash acquired (301) (106) (3)
Purchase of property, plant and equipment (140) (138) (151)
Interest proceeds on swaps designated as net investment hedges 15 10 20
Settlement proceeds on swaps designated as net investment hedges 0 29 25
Payments for loans to customers (22) (3) (4)
Other investing activities, net 8 2 7
Cash used for investing activities (440) (206) (106)
Financing activities:      
Proceeds from short-term borrowings 0 9 0
Proceeds from long-term borrowings 333 697 1,980
Payments on short-term borrowings (5) (50) (91)
Payments on long-term borrowings (420) (904) (2,042)
Financing-related costs (6) (17) (15)
Net cash flows associated with stock-based awards 4 8 0
Purchases of common stock (100) (50) (200)
Deferred acquisition-related consideration (6) (8) 0
Other financing activities, net (1) 0 (1)
Cash used for financing activities (201) (315) (369)
(Decrease) increase in cash and cash equivalents (65) 54 (181)
Effect of exchange rate changes on cash (42) (6) (15)
Cash at beginning of period 703 655 851
Cash at end of period 596 703 655
Cash at end of period reconciliation:      
Cash and cash equivalents 593 700 645
Restricted cash 3 3 10
Cash at end of period 596 703 655
Cash paid during the year for:      
Interest, net of amounts capitalized 198 213 127
Income taxes, net of refunds 131 97 63
Non-cash investing activities:      
Accrued capital expenditures $ 18 $ 13 $ 32

Source

PDF