Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Cash Flows

v3.10.0.1
Condensed Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 61 $ 81
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 41 37
Gain on sale (23) 0
Deferred income taxes (5) 11
Stock-based compensation 4 0
Net change in assets and liabilities:    
Trade receivables (26) (21)
Prepaid expenses (5) (1)
Other current assets (16) (6)
Accounts payable, accrued expenses and other current liabilities 32 (8)
Deferred income (22) (14)
Payments of development advance notes, net (1) 0
Other, net (7) 1
Net cash provided by operating activities 33 80
Investing Activities    
Property and equipment additions (33) (17)
Acquisition of business, net of cash acquired (1,695) 0
Proceeds from sale of assets, net 27 0
Proceeds from repayment of loans, net 14 0
Insurance proceeds 14 0
Other, net 1 (1)
Net cash used in investing activities (1,672) (18)
Financing Activities    
Net transfer to former Parent (38) (61)
Proceeds from borrowings from former Parent 13 6
Capital lease payments (1) (1)
Proceeds from long-term debt 2,100 0
Debt issuance costs (28) 0
Capital contribution from former Parent 106 0
Dividend to former Parent (90) 0
Dividends to shareholders (27) 0
Repurchases of common stock (11) 0
Net share settlement of incentive equity awards (27) 0
Other, net (1) 0
Net cash provided by/(used in) financing activities 1,996 (56)
Effect of changes in exchange rates on cash, cash equivalents and restricted cash 0 (1)
Net increase in cash, cash equivalents and restricted cash 357 5
Cash, cash equivalents and restricted cash, beginning of period 59 30
Cash, cash equivalents and restricted cash, end of period $ 416 $ 35