Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Cash Flows

v3.19.1
Condensed Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net income $ 21 $ 39
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 29 19
Deferred income taxes 3 2
Stock-based compensation 5  
Share-based Compensation, Net of Parent Transfers   0
Net change in assets and liabilities:    
Trade receivables (3) (14)
Prepaid expenses (14) (13)
Other current assets (1) (13)
Accounts payable, accrued expenses and other current liabilities (13) 4
Deferred income (8) (5)
(Payments of)/proceeds from development advance notes, net (6) 5
Other, net (6) (8)
Net cash provided by operating activities 7 16
Investing Activities    
Property and equipment additions (9) (14)
Issuance of loans (2) 0
Insurance proceeds 0 14
Net cash used in investing activities (11) 0
Financing Activities    
Net transfer to former Parent 0 (14)
Proceeds from borrowings from former Parent 0 13
Finance lease payments (1) 0
Repayments of Long-term Debt (4) 0
Dividends to shareholders (28) 0
Repurchases of common stock (45) 0
Net cash used in financing activities (78) (1)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash 0 (1)
Net (decrease)/increase in cash, cash equivalents and restricted cash (82) 14
Cash, cash equivalents and restricted cash, beginning of period 366 59
Cash, cash equivalents and restricted cash, end of period $ 284 $ 73