v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ (3) $ (17)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 106 118
Stock-based compensation expense 19 18
Deferred income taxes (10) 0
Impairment of other assets 4 0
Loss (gain) on disposal of property, plant and equipment and other assets, net 9 0
Changes in assets and liabilities:    
Receivables 20 17
Inventories (42) (15)
Current payables and accrued expenses 65 (21)
Contract liabilities (16) (14)
Employee benefit plans (16) 10
Other assets and liabilities (77) (380)
Net cash provided by (used in) operating activities 59 (284)
Investing activities    
Capital expenditures (77) (81)
Collections on purchased trade receivables 1 6
Collections on non-operating receivables 67 0
Net cash provided by (used in) investing activities (9) (75)
Financing activities    
Payments on revolving credit facilities (103) (9)
Borrowings on revolving credit facilities 103 9
Cash dividend paid for Series A preferred shares dividends (6) (8)
Repurchases of common stock (20) (69)
Proceeds from employee stock plans 5 5
Tax withholding payments on behalf of employees (5) (7)
Principal payments for finance lease obligations (13) (7)
Net cash provided by (used in) financing activities (39) (86)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 5
Increase (decrease) in cash, cash equivalents, and restricted cash 11 (440)
Cash, cash equivalents and restricted cash at beginning of period 243 758
Cash, cash equivalents and restricted cash at end of period $ 254 $ 318