v3.26.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income $ 164 $ 96
Adjustments to determine net cash provided by operating activities:    
Depreciation and amortization 150 148
Gain on unrealized derivatives and other realized derivatives in investing activities, net (108) (8)
(Gain) loss on sale or disposal of assets, net (2) 2
Non-cash restructuring and impairment charges 0 54
Deferred income taxes, net (29) 6
Equity in net income of non-consolidated affiliates 0 (1)
Loss on foreign exchange remeasurement of debt 0 20
Amortization of debt issuance costs and carrying value adjustments 6 4
Other, net (1) 0
Changes in assets and liabilities including assets and liabilities held for sale:    
Accounts receivable (649) 20
Inventories (818) (132)
Accounts payable 1,026 (59)
Other assets (176) 12
Other liabilities (18) (57)
Net cash (used in) provided by operating activities (455) 105
INVESTING ACTIVITIES    
Capital expenditures (775) (386)
Proceeds from sales of assets, third party, net of transaction fees and hedging 3 0
Outflows from investment in and advances to non-consolidated affiliates, net (9) (4)
Proceeds (outflows) from the settlement of derivative instruments, net 9 (13)
Proceeds from insurance claims 93 0
Other 3 3
Net cash used in investing activities (676) (400)
FINANCING ACTIVITIES    
Proceeds from issuance of long-term and short-term borrowings 75 463
Principal payments of long-term and short-term borrowings (79) (4)
Revolving credit facilities and other, net 986 (105)
Debt issuance costs (7) (8)
Return of capital to our common shareholder 0 (35)
Net cash provided by financing activities 975 311
Net (decrease) increase in cash, cash equivalents and restricted cash (156) 16
Effect of exchange rate changes on cash 6 22
Cash, cash equivalents and restricted cash – beginning of period 1,261 1,041
Cash, cash equivalents and restricted cash – end of period 1,111 1,079
Supplemental Disclosures:    
Accrued capital expenditures $ 362 $ 224