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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income (loss) $ (220) $ 111 $ 265
Adjustments to reconcile net income (loss) to cash provided (used) by operating activities:      
Goodwill and intangible impairment charge 241 3 11
Depreciation and amortization 673 345 226
Deferred income taxes (151) (65) (8)
Stock-based compensation 25 14 14
Restructuring charges and asset impairments, net of cash paid 11 49 8
Change in pension and postretirement benefit plans (57) (8) (15)
Equity in earnings of nonconsolidated affiliates (43) (18) 1
Cash dividends received from nonconsolidated affiliates 53 2 0
Changes in operating assets and liabilities:      
Receivables (225) (174) (76)
Inventories 284 27 (94)
Payables and accrued expenses (66) 291 136
Accrued interest and income taxes 3 (19) 1
Other assets and liabilities (84) (119) 48
Net cash provided (used) by operating activities 444 439 517
Investing Activities      
Acquisitions, net of cash acquired (158) (2,194) 0
Proceeds from sale of assets 20 9 8
Net proceeds from sale of business 22 0 0
Proceeds from sale of investment in nonconsolidated affiliates 2 0 9
Cash payments for plant, property, and equipment (744) (507) (419)
Proceeds from deferred purchase price of factored receivables 250 174 112
Other 2 4 (10)
Net cash provided (used) by investing activities (606) (2,514) (300)
Financing Activities      
Proceeds from term loans and notes 200 3,426 160
Repayments of term loans and notes (341) (453) (36)
Borrowings on revolving lines of credit 9,120 5,149 6,664
Payments on revolving lines of credit (8,884) (5,405) (6,737)
Repurchase of common shares (2) (1) (1)
Cash dividends (20) (59) (53)
Debt issuance cost of long-term debt 0 (95) (8)
Purchase of common stock under the share repurchase program 0 0 (169)
Net decrease in bank overdrafts (13) (5) (7)
Acquisition of additional ownership interest in consolidated affiliates (10) 0 0
Distributions to noncontrolling interest partners (43) (51) (64)
Other (4) (30) 0
Net cash (used in) provided by financing activities 3 2,476 (251)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 23 (17) 3
Increase (decrease) in cash, cash equivalents, and restricted cash (136) 384 (31)
Cash, cash equivalents, and restricted cash, beginning of period 702 [1] 318 [1] 349
Cash, cash equivalents, and restricted cash, end of period [1] 566 702 318
Supplemental Cash Flow Information      
Cash paid during the year for interest 284 143 78
Cash paid during the year for income taxes, net of refunds 177 113 95
Non-cash Investing and Financing Activities      
Period end balance of trade payables for plant, property, and equipment 134 135 59
Deferred purchase price of receivables factored in the period in investing 253 154 114
Stock issued for acquisition of Federal-Mogul 0 (1,236) 0
Stock transferred for acquisition of Federal-Mogul 0 1,236 0
Redeemable noncontrolling interest transaction with owner $ 53 $ 0 $ 0
[1] Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.