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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities      
Net income $ (1,460) $ (220) $ 111
Adjustments to reconcile net income (loss) to cash (used) provided by operating activities:      
Goodwill and intangible impairment charges 383 241 3
Depreciation and amortization 639 673 345
Deferred income taxes 301 (151) (65)
Stock-based compensation 18 25 14
Restructuring charges and asset impairments, net of cash paid 500 11 49
Change in pension and postretirement benefit plans (94) (57) (8)
Equity in earnings of nonconsolidated affiliates (47) (43) (18)
Cash dividends received from nonconsolidated affiliates 23 53 2
Loss (gain) on sale of assets and other (18) 0 0
Changes in operating assets and liabilities:      
Receivables (182) (225) (174)
Inventories 279 284 27
Payables and accrued expenses 308 (66) 291
Accrued interest and accrued income taxes (12) 3 (19)
Other assets and liabilities (9) (84) (119)
Net cash provided by (used in) operating activities 629 444 439
Investing Activities      
Acquisitions, net of cash acquired 0 (158) (2,194)
Proceeds from sale of assets 45 20 9
Net proceeds from sale of business 9 22 0
Proceeds from sale of investment in nonconsolidated affiliates 0 2 0
Cash payments for property, plant and equipment (394) (744) (507)
Proceeds from deferred purchase price of factored receivables 283 250 174
Other 0 2 4
Net cash (used) provided by investing activities (57) (606) (2,514)
Financing Activities      
Proceeds from term loans and notes 654 200 3,426
Repayments of term loans and notes (765) (341) (453)
Borrowings on revolving lines of credit 6,120 9,120 5,149
Payments on revolving lines of credit (6,337) (8,884) (5,405)
Repurchase of common shares (1) (2) (1)
Cash dividends 0 (20) (59)
Debt issuance costs of long-term debt (25) 0 (95)
Net decrease in bank overdrafts (2) (13) (5)
Acquisition of additional ownership interest in consolidated affiliates 0 (10) 0
Distributions to noncontrolling interest partners (42) (43) (51)
Other 40 (4) (30)
Net cash (used in) provided by financing activities (358) 3 2,476
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash 23 23 (17)
Increase (decrease) in cash, cash equivalents, and restricted cash 237 (136) 384
Cash, cash equivalents, and restricted cash, beginning of period 566 702 318
Cash, cash equivalents, and restricted cash, end of period 803 566 702
Supplemental Cash Flow Information      
Cash paid during the year for interest 246 284 143
Cash paid during the year for income taxes, net of refunds 154 177 113
Non-cash inventory charge due to aftermarket product line exit 73 0 0
Non-cash Investing Activities      
Period end balance of trade payables for property, plant and equipment 113 134 135
Deferred purchase price of receivables factored in the period in investing 299 253 154
Stock issued for acquisition of Federal-Mogul 0 0 (1,236)
Stock transferred for acquisition of Federal-Mogul 0 0 1,236
Redeemable noncontrolling interest transaction with owner $ (53) $ 53 $ 0