v3.25.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net income $ 96 $ 150
Adjustments to determine net cash provided by operating activities:    
Depreciation and amortization 148 140
Gain on unrealized derivatives and other realized derivatives in investing activities, net (8) (18)
Loss on sale or disposal of assets, net 2 1
Non-cash restructuring and impairment charges 54 15
Deferred income taxes, net 6 (1)
Equity in net income of non-consolidated affiliates (1) (1)
Loss (gain) on foreign exchange remeasurement of debt 20 (1)
Amortization of debt issuance costs and carrying value adjustments 4 3
Non-cash charges related to Sierre flooding 0 40
Other, net 0 3
Changes in assets and liabilities including assets and liabilities held for sale:    
Accounts receivable 20 (284)
Inventories (132) (264)
Accounts payable (59) 364
Other assets 12 1
Other liabilities (57) (74)
Net cash provided by operating activities 105 74
INVESTING ACTIVITIES    
Capital expenditures (386) (348)
Outflows from investment in and advances to non-consolidated affiliates, net (4) (7)
Outflows from the settlement of derivative instruments, net (13) (2)
Other 3 3
Net cash used in investing activities (400) (354)
FINANCING ACTIVITIES    
Proceeds from issuance of long-term and short-term borrowings 463 50
Principal payments of long-term and short-term borrowings (4) (55)
Revolving credit facilities and other, net (105) (134)
Debt issuance costs (8) 0
Return of capital to our common shareholder (35) 0
Net cash provided by (used in) financing activities 311 (139)
Net increase (decrease) in cash, cash equivalents and restricted cash 16 (419)
Effect of exchange rate changes on cash 22 (8)
Cash, cash equivalents and restricted cash – beginning of period 1,041 1,322
Cash, cash equivalents and restricted cash – end of period 1,079 895
Supplemental Disclosures:    
Accrued capital expenditures $ 224 $ 178

Source

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