v3.26.1

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating activities
Net income (loss)	$ (5)	$ (17)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	53	60
Stock-based compensation expense	8	9
Deferred income taxes	(10)	(6)
Impairment of other assets	1	0
Loss (gain) on disposal of property, plant and equipment and other assets, net	9	0
Changes in assets and liabilities:
Receivables	15	(31)
Inventories	(47)	(14)
Current payables and accrued expenses	21	(30)
Contract liabilities	23	9
Employee benefit plans	(11)	8
Other assets and liabilities	(15)	(30)
Net cash provided by (used in) operating activities	42	(42)
Investing activities
Capital expenditures	(36)	(39)
Collections on purchased trade receivables	1	4
Collections on non-operating receivables	17	0
Sale (purchase) of intangible assets	(3)	0
Net cash provided by (used in) investing activities	(21)	(35)
Financing activities
Payments on revolving credit facilities	(60)	(7)
Borrowings on revolving credit facilities	60	7
Cash dividend paid for Series A preferred shares dividends	(3)	(4)
Repurchases of common stock	(9)	(62)
Proceeds from employee stock plans	2	2
Tax withholding payments on behalf of employees	(4)	(6)
Principal payments for finance lease obligations	(4)	(4)
Net cash provided by (used in) financing activities	(18)	(74)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	1
Increase (decrease) in cash, cash equivalents, and restricted cash	3	(150)
Cash, cash equivalents and restricted cash at beginning of period	243	758
Cash, cash equivalents and restricted cash at end of period	$ 246	$ 608

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