v3.26.1
Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (29) $ (5)
Adjustments to reconcile net income to cash used for operating activities:    
Depreciation and amortization 79 88
Loss (gain) on sales of assets and businesses   (1)
Equity in earnings of affiliates, net (6) (7)
Loss on extinguishment of debt 9 0
Amortization of debt issuance costs and issue discounts 3 3
Deferred tax benefit (11) (14)
Asset-related charges 1 1
Stock-based compensation expense 7 5
Net periodic pension cost (income) 0 0
Defined benefit plan contributions (1) (4)
Other operating charges and credits, net (14) 37
Decrease (increase) in operating assets:    
Accounts and notes receivable, net (77) (111)
Inventories and other current operating assets 32 (51)
Other non-current operating assets 17 48
(Decrease) increase in operating liabilities:    
Accounts payable (58) (105)
Other current operating liabilities 12 (5)
Other non-current operating liabilities (8) 9
Cash used for operating activities (44) (112)
Cash flows from investing activities    
Purchases of property, plant, and equipment (49) (84)
Proceeds from life insurance policies 1  
Proceeds from sales of assets and businesses 7  
Foreign exchange contract settlements, net (3) (2)
Cash used for investing activities (44) (86)
Cash flows from financing activities    
Proceeds from issuance of debt 700  
Debt repayments (689) (8)
Payments on finance leases (3) (3)
Payments of debt issuance cost (10)  
Proceeds from supplier financing program 16 27
Payments to supplier financing program (14) (35)
Proceeds from exercised stock options, net 2 0
Payments related to tax withholdings on vested stock awards (2) (1)
Payments of dividends to the Company's common shareholders (13) (37)
Debt extinguishment payments (6)  
Cash used for financing activities (19) (57)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (2) 6
Decrease in cash, cash equivalents, restricted cash and restricted cash equivalents (109) (249)
Cash, cash equivalents, restricted cash and restricted cash equivalents at January 1, 724 763
Cash, cash equivalents, restricted cash and restricted cash equivalents at March 31, 615 514
Non-cash investing and financing activities:    
Purchases of property, plant, and equipment included in accounts payable $ 27 $ 26