v3.24.3
Condensed Consolidated Statements of Cash Flows (unaudited)
$ in Millions
 3 Months Ended 6 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
OPERATING ACTIVITIES        
Net income $ 129 $ 157 $ 279 $ 313
Adjustments to determine net cash provided by operating activities:        
Depreciation and amortization 141 136 281 267
(Gain) loss on unrealized derivatives and other realized derivatives in investing activities, net     (46) 10
Loss on sale or disposal of assets, net 1 0 2 0
Restructuring and impairment expenses, net     33 3
Loss on extinguishment of debt, net 0 5 0 5
Deferred income taxes, net     0 23
Equity in net income of non-consolidated affiliates (2) (4) (3) (7)
Loss (gain) on foreign exchange remeasurement of debt     15 (6)
Amortization of debt issuance costs and carrying value adjustments     6 7
Non-cash charges related to Sierre flooding     42 0
Other, net     2 3
Changes in assets and liabilities including assets and liabilities held for sale:        
Accounts receivable     (202) (90)
Inventories     (289) (72)
Accounts payable     341 (110)
Other assets     21 21
Other liabilities     (108) (77)
Net cash provided by operating activities     374 290
INVESTING ACTIVITIES        
Capital expenditures (369) (285) (717) (618)
(Outflows) proceeds from investment in and advances to non-consolidated affiliates, net     (7) 12
(Outflows) proceeds from the settlement of derivative instruments, net     (1) 8
Other     6 8
Net cash used in investing activities     (719) (590)
FINANCING ACTIVITIES        
Proceeds from issuance of long-term and short-term borrowings     64 532
Principal payments of long-term and short-term borrowings     (68) (531)
Revolving credit facilities and other, net     106 (24)
Debt issuance costs     0 (3)
Net cash provided by (used in) financing activities     102 (26)
Net decrease in cash, cash equivalents and restricted cash     (243) (326)
Effect of exchange rate changes on cash     2 (14)
Cash, cash equivalents and restricted cash – beginning of period     1,322 1,511
Cash, cash equivalents and restricted cash – end of period 1,081 1,171 1,081 1,171
Cash and cash equivalents 1,071 1,158 1,071 1,158
Restricted cash (included in other long-term assets) 10 13 10 13
Cash, cash equivalents and restricted cash – end of period $ 1,081 $ 1,171 1,081 1,171
Supplemental Disclosures:        
Accrued capital expenditures     250 176
Leased assets obtained in exchange for new operating lease liabilities     $ 13 $ 6

Source

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