v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 258 $ 114
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 171 172
Unrealized (gain) loss on foreign currency and derivative instruments (2) 4
Amortization of debt issuance costs and original issue discount 8 13
Loss on extinguishment of debt 9 5
Stock-based compensation 34 34
Provision for excess and obsolete inventory 17 27
Deferred income taxes (44) (80)
Other (4) 0
Changes in operating assets and liabilities    
Trade accounts receivable (184) (10)
Inventories (139) (24)
Other current and non-current assets (6) 11
Accounts payable 146 4
Current and non-current accrued compensation (23) 31
Income taxes payable 19 19
Other current and non-current liabilities 36 (14)
Net cash provided by operating activities 296 306
Cash flows from investing activities:    
Purchases of investments (1) 0
Proceeds from sale of long-lived assets 0 2
Purchases of property, plant and equipment (79) (47)
Net cash used in investing activities (80) (45)
Cash flows from financing activities:    
Repurchase of common stock 0 (45)
Proceeds from borrowings 1,192 0
Payments of borrowings (1,378) (225)
Payments of deferred financing fees (22) 0
Dividend payments (34) (30)
Net payments related to employee stock awards (42) (5)
Other financing activities (1) (4)
Net cash used in financing activities (285) (309)
Effect of exchange rate changes on cash and cash equivalents 5 8
Decrease in cash and cash equivalents (64) (40)
Cash and cash equivalents at beginning of period 675 714
Cash and cash equivalents at end of period 611 674
Supplemental non-cash financing activities:    
Right-of-use assets obtained in exchange for finance lease liabilities $ 10 $ 46