PHINIA INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
PHIN$71.07+1.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| (in millions) | 2023 | 2022 | 2021 |
| OPERATING | |||
| Net cash provided by operating activities (see Note 25) | $250 | $303 | $147 |
| INVESTING | |||
| Capital expenditures, including tooling outlays | (150) | (107) | (146) |
| Payments for investment in equity securities | (2) | — | — |
| Proceeds from asset disposals and other, net | 2 | 2 | 6 |
| Net cash used in investing activities | (150) | (105) | (140) |
| FINANCING | |||
| Proceeds from issuance of long-term debt, net of discount | 708 | — | — |
| Payments for debt issuance costs | (14) | — | — |
| Borrowings under Revolving Facility | 75 | — | — |
| Repayments of debt, including current portion | (4) | (1) | — |
| Cash outflows related to debt due to Former Parent | (728) | (117) | (170) |
| Cash inflows related to debt due from Former Parent | 36 | 140 | 126 |
| Purchase of noncontrolling interest | — | (3) | — |
| Dividends paid to PHINIA Inc. stockholders | (23) | — | — |
| Payments for purchase of treasury stock | (24) | — | — |
| Net transfers (to) from Former Parent | (5) | (204) | 8 |
| Net decrease in notes payable to Former Parent | — | — | (8) |
| Payments for stock-based compensation items | (1) | — | — |
| Net cash provided by (used in) financing activities | 20 | (185) | (44) |
| Effect of exchange rate changes on cash | (6) | (21) | 4 |
| Net increase (decrease) in cash and cash equivalents | 114 | (8) | (33) |
| Cash and cash equivalents at beginning of year | 251 | 259 | 292 |
| Cash and cash equivalents at end of year | $365 | $251 | $259 |
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