Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings (loss) $ 8 $ 33
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization 99 100
Stock-based compensation 16 16
Realized and unrealized (gains) losses on financial instruments, net 7 32
Gain on sale of assets and sale leaseback transactions (1) (113)
Gain on insurance proceeds, net of fire related costs   (17)
Insurance proceeds received for operating expenses and business interruption losses   37
Deferred income tax expense (benefit) (2) (2)
Other, net 4 9
Changes in operating assets and liabilities    
Decrease (increase) in accounts receivable 313 294
Decrease (increase) in inventory (94) 25
Decrease (increase) in prepaid expenses and other assets 45 48
(Decrease) increase in trade accounts payable (101) (167)
(Decrease) increase in accrued and other liabilities (268) (279)
Net cash provided (used) by operating activities 26 16
Cash flows from investing activities:    
Capital expenditures (40) (54)
Expenditures for television distribution rights (2) (38)
Cash proceeds from dispositions of investments 6 1
Proceeds from sale of fixed assets 6 198
Insurance proceeds received for fixed asset loss   18
Payments for settlements of financial instruments   (179)
Proceeds from settlements of financial instruments   167
Other investing activities, net (1) (1)
Net cash provided (used) by investing activities (31) 112
Cash flows from financing activities:    
Borrowings of debt 1,570 677
Repayments of debt (1,555) (803)
Dividends paid to noncontrolling interest (11) (12)
Dividends paid to common shareholders (4) (7)
Indemnification agreement settlement   24
Other financing activities, net (2) (1)
Net cash provided (used) by financing activities (2) (122)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (12) 4
Net increase (decrease) in cash, cash equivalents and restricted cash (19) 10
Cash, cash equivalents and restricted cash at beginning of period 1,136 1,285
Cash, cash equivalents and restricted cash at end of period $ 1,117 $ 1,295