XML 25 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 100 $ (1,460) $ (220)
Adjustments to reconcile net income (loss) to cash (used) provided by operating activities:      
Goodwill and intangible impairment charges 0 383 241
Depreciation and amortization 593 639 673
Deferred income taxes 12 301 (151)
Stock-based compensation 24 18 25
Restructuring charges and asset impairments, net of cash paid (14) 500 11
Change in pension and postretirement benefit plans (34) (94) (57)
Equity in earnings of nonconsolidated affiliates (57) (47) (43)
Cash dividends received from nonconsolidated affiliates 64 23 53
Loss (gain) on sale of assets and other 7 (18) 0
Changes in operating assets and liabilities:      
Receivables (408) (182) (225)
Inventories (162) 279 284
Payables and accrued expenses 232 308 (66)
Accrued interest and accrued income taxes 27 (12) 3
Other assets and liabilities (151) (9) (84)
Net Cash Provided by (Used in) Operating Activities, Total 233 629 444
Investing Activities      
Acquisitions, net of cash acquired 0 0 (158)
Proceeds from sale of assets 55 29 20
Collection of divestiture receivable 27 16 0
Net proceeds from sale of business 1 9 22
Proceeds from sale of investment in nonconsolidated affiliates 8 0 2
Cash payments for property, plant and equipment (387) (394) (744)
Proceeds from deferred purchase price of factored receivables 472 283 250
Other 0 0 2
Net cash (used) provided by investing activities 176 (57) (606)
Financing Activities      
Proceeds from term loans and notes 839 654 200
Repayments and extinguishment costs of term loans and notes (1,073) (765) (341)
Borrowings on revolving lines of credit 6,504 6,120 9,120
Payments on revolving lines of credit (6,525) (6,337) (8,884)
Cash dividends 0 0 (20)
Debt issuance costs of long-term debt (16) (25) 0
Net decrease in bank overdrafts 0 (2) (13)
Acquisition of additional ownership interest in consolidated affiliates 0 0 (10)
Distributions to noncontrolling interests (40) (42) (43)
Other (18) 39 (6)
Net cash (used) provided by financing activities (329) (358) 3
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (18) 23 23
Increase (decrease) in cash, cash equivalents, and restricted cash 62 237 (136)
Cash, cash equivalents, and restricted cash, beginning of period 803 566 702
Cash, cash equivalents, and restricted cash, end of period 865 803 566
Supplemental Cash Flow Information      
Cash paid during the year for interest 219 246 284
Cash paid during the year for income taxes, net of refunds 124 154 177
Non-cash inventory charge due to aftermarket product line exit 44 73 0
Non-cash Investing Activities      
Period end balance of accounts payable for property, plant and equipment 104 113 134
Deferred purchase price of receivables factored in the period 463 299 253
Increase (decrease) in assets from redeemable noncontrolling interest transaction with owner $ 0 $ (53) $ 53