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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2020
Mar. 31, 2019
OPERATING ACTIVITIES    
Net income $ 283 $ 166
Less: Income (loss) from discontinued operations, net of tax 1 (1)
Income from continuing operations 282 167
Adjustments to income from continuing operations to arrive at cash provided by operating activities:    
Depreciation and amortization 50 43
Deferred income tax expense (benefit) (4) 16
Restructuring costs 15 (1)
Equity in earnings of affiliates (12) (15)
Pension and retiree medical income (21) (19)
Asbestos related liability remeasurement 0 (31)
Other adjustments to income from continuing operations 1 8
Dividends received from equity method investments 0 1
Pension and retiree medical contributions (7) (8)
Restructuring payments (15) (1)
Changes in off-balance sheet accounts receivable securitization and factoring programs 20 22
Changes in receivables, inventories and accounts payable (8) (91)
Changes in other current assets and liabilities (49) (33)
Changes in other assets and liabilities 38 (6)
Operating cash flows provided by continuing operations 290 52
Operating cash flows used for discontinued operations 0 (1)
CASH PROVIDED BY OPERATING ACTIVITIES 290 51
INVESTING ACTIVITIES    
Capital expenditures (33) (44)
Cash paid for acquisition of Transportation Power, Inc., net of cash acquired (13) (3)
Other investing activities 9 0
CASH USED FOR INVESTING ACTIVITIES (37) (47)
FINANCING ACTIVITIES    
Securitization 96 48
Borrowings against revolving line of credit 304 0
Redemption of notes 0 (19)
Term loan payments (4) 0
Other financing activities (1) (1)
Net change in debt 395 28
Repurchase of common stock (241) (50)
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES 154 (22)
EFFECT OF CHANGES IN FOREIGN CURRENCY EXCHANGE RATES ON CASH AND CASH EQUIVALENTS (7) 1
CHANGE IN CASH AND CASH EQUIVALENTS 400 (17)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 108 115
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 508 $ 98