v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income from continuing operations $ 8 $ 20
Adjustments to reconcile net income from continuing operations to net cash provided by continuing operations:    
Depreciation and amortization 5 5
Amortization of intangibles [1] 5 5
Equity-based compensation expense 4 4
Deferred income tax expense 1 2
Other non-cash items 2 3
Changes in operating assets and liabilities:    
Accounts receivable (59) (49)
Inventories (44) 4
Other current assets 5 2
Accounts payable 100 47
Accrued expenses and other current liabilities (6) (7)
Operating cash flows from continuing operations 21 36
Operating cash flows from discontinued operations (7) 2
Net cash provided by operating activities 14 38
Investing activities    
Purchases of property, plant and equipment (9) (6)
Other investing activities 0 1
Investing cash flows from continuing operations (9) (5)
Investing cash flows from discontinued operations 17 0
Net cash provided by (used in) investing activities 8 (5)
Financing activities    
Payments on revolving credit facilities (184) (14)
Proceeds from revolving credit facilities 168 9
Payments on debt obligations 0 (1)
Debt issuance costs paid (1) 0
Dividends paid on preferred stock 0 (6)
Repurchases of shares to satisfy tax withholdings (6) (5)
Financing cash flows from continuing operations (23) (17)
Financing cash flows from discontinued operations 0 0
Net cash used in financing activities (23) (17)
(Decrease) increase in cash (1) 16
Effect of foreign exchange rate on cash 1 (1)
Cash -- beginning of period 63 131
Cash -- end of period 63 146
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of capitalized interest 9 7
Cash paid for income taxes 2 13
Supplemental non-cash transactions:    
Change in accrued purchases of property, plant and equipment $ 1 $ 0
[1] The balances for depreciation and amortization and amortization of intangibles are included within total cost of sales on the condensed consolidated statements of operations.