CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(Millions)
| Three Months Ended | Nine Months Ended | |||||||
| September 30,
2017 | September 30,
2017 | |||||||
| Cash flows from operating activities: | ||||||||
| Net Income (loss) | $ | 71 | $ | (18 | ) | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||||
| Depreciation and amortization | 36 | 105 | ||||||
| Stock-based compensation expense | 29 | 76 | ||||||
| Non-cash interest expense | 9 | 27 | ||||||
| Loss on debt redemption | 2 | 9 | ||||||
| Other | 3 | 4 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (157 | ) | (460 | ) | ||||
| Inventories | 39 | (43 | ) | |||||
| Prepayment and other receivables - related parties | (16 | ) | 6 | |||||
| Prepaid expenses and other assets | (26 | ) | (82 | ) | ||||
| Payables to related parties | 70 | 61 | ||||||
| Accounts payable, accrued liabilities and other | 6 | — | ||||||
| Net cash provided by (used in) operating activities | $ | 66 | $ | (315 | ) | |||
| Cash flows from investing activities: | ||||||||
| Purchases of property, plant and equipment | (34 | ) | (69 | ) | ||||
| Purchases of available-for-sale securities | — | (221 | ) | |||||
| Proceeds from maturity of available-for-sale securities | 85 | 221 | ||||||
| Other | — | (2 | ) | |||||
| Net cash provided by (used in) investing activities | $ | 51 | (71 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from borrowings, net | 28 | 70 | ||||||
| Proceeds from issuance of common stock under stock-based compensation equity plans | 5 | 15 | ||||||
| Repayments of long-term debt | (28 | ) | (70 | ) | ||||
| Other | (3 | ) | (14 | ) | ||||
| Net cash provided by financing activities | $ | 2 | $ | 1 | ||||
| Net increase (decrease) in cash and cash equivalents | 119 | (385 | ) | |||||
| Cash and cash equivalents at beginning of period | $ | 760 | $ | 1,264 | ||||
| Cash and cash equivalents at end of period | $ | 879 | $ | 879 | ||||
