XML 52 R44.htm IDEA: XBRL DOCUMENT

SUPPLEMENTAL INFORMATION (Tables)

6 Months Ended

Jun. 30, 2020

Supplemental Information [Abstract]

Summary of Supplemental Information, Income Statement


			Statement of Operations
			Industrial Activities																		Financial Services
			Three Months Ended June 30,																		Three Months Ended June 30,
			2020						2019						2020						2019
			(in millions)
Revenues
Net sales			$	5,150					$	7,068					$	—					$	—
Finance, interest and other income			13						23						441						519
Total Revenues			$	5,163					$	7,091					$	441					$	519
Costs and Expenses
Cost of goods sold			$	5,114					$	5,751					$	—					$	—
Selling, general and administrative expenses			396						497						88						58
Research and development expenses			203						273						—						—
Restructuring expenses			7						26						—						2
Interest expense			72						89						124						149
Goodwill impairment charge			585						—						—						—
Other, net			(1,455)						18						160						193
Total Costs and Expenses			$	4,922					$	6,654					$	372					$	402
Income before income taxes and equity in income of unconsolidated subsidiaries and affiliates			241						437						69						117
Income tax (expense) benefit			60						(104)						(20)						(31)
Equity in income of unconsolidated subsidiaries and affiliates			7						3						4						5
Results from intersegment investments			53						91						—						—
Net income			$	361					$	427					$	53					$	91


			Statement of Operations
			Industrial Activities																		Financial Services
			Six Months Ended June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
			(in millions)
Revenues
Net sales			$	10,143					$	13,074					$	—					$	—
Finance, interest and other income			28						53						930						993
Total Revenues			$	10,171					$	13,127					$	930					$	993
Costs and Expenses
Cost of goods sold			$	9,528					$	10,717					$	—					$	—
Selling, general and administrative expenses			860						990						150						104
Research and development expenses			417						517						—						—
Restructuring expenses			12						34						—						2
Interest expense			146						172						267						302
Goodwill impairment charge			585						—						—						—
Other, net			(1,440)						34						342						345
Total Costs and Expenses			$	10,108					$	12,464					$	759					$	753
Income before income taxes and equity in income of unconsolidated subsidiaries and affiliates			63						663						171						240
Income tax (expense) benefit			113						(158)						(50)						(67)
Equity in income of unconsolidated subsidiaries and affiliates			(2)						—						12						13
Results from intersegment investments			133						186						—						—
Net income			$	307					$	691					$	133					$	186

Summary of Supplemental Information, Balance Sheet


			Balance Sheets
			Industrial Activities																		Financial Services
			June 30, 2020						December 31, 2019						June 30, 2020						December 31, 2019
			(in millions)
ASSETS
Cash and cash equivalents			$	4,638					$	4,407					$	507					$	468
Restricted cash			77						120						646						778
Trade receivables, net			481						416						25						28
Financing receivables, net			962						1,223						18,210						20,657
Inventories, net			6,744						6,907						149						175
Property, plant and equipment, net			4,447						5,268						1						1
Investments in unconsolidated subsidiaries and affiliates			2,933						3,213						232						237
Investments at fair value through profit and loss			1,733						—						—						—
Equipment under operating leases			45						51						1,768						1,806
Goodwill, net			1,788						2,383						153						155
Other intangible assets, net			688						790						15						16
Deferred tax assets			1,228						1,090						173						178
Derivative assets			97						34						85						47
Other assets			1,862						2,148						169						319
Total Assets			$	27,723					$	28,050					$	22,133					$	24,865
LIABILITIES AND EQUITY
Debt			$	7,958					$	6,558					$	18,284					$	20,748
Trade payables			4,427						5,490						155						191
Deferred tax liabilities			10						19						265						286
Pension, postretirement and other postemployment benefits			1,448						1,558						20						20
Derivative liabilities			67						97						48						32
Other liabilities			7,850						8,172						668						771
Total Liabilities			$	21,760					$	21,894					$	19,440					$	22,048
Equity			5,925						6,121						2,693						2,817
Redeemable noncontrolling interest			38						35						—						—
Total Liabilities and Equity			$	27,723					$	28,050					$	22,133					$	24,865

Summary of Supplemental Information, Cash Flows


			Statements of Cash Flows
			Industrial Activities																		Financial Services
			Six Months Ended June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
			(in millions)
Operating activities:
Net income (loss)			$	307					$	691					$	133					$	186
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization expense, net of assets under operating leases and assets sold under buy-back commitments			306						330						1						2
Depreciation and amortization expense of assets under operating leases and assets sold under buy-back commitments			132						158						127						124
Gain on disposal of assets			4						1						—						—
Undistributed loss of unconsolidated subsidiaries			(10)						(41)						(12)						(13)
Goodwill impairment charge			585						—						—						—
Other non-cash items⁽¹⁾			(1,059)						50						77						24
Changes in operating assets and liabilities:
Provisions			(151)						(55)						(1)						(11)
Deferred income taxes			(155)						1						(6)						41
Trade and financing receivables related to sales, net			(91)						(74)						1,075						(822)
Inventories, net			75						(1,246)						224						214
Trade payables			(929)						294						(30)						(48)
Other assets and liabilities			13						(270)						10						93
Net cash provided by (used in) operating activities			$	(973)					$	(161)					$	1,598					$	(210)
Investing activities:
Additions to retail receivables			—						—						(2,069)						(1,987)
Collections of retail receivables			—						—						2,129						2,314
Proceeds from sale of assets, net of assets sold under operating leases and assets sold under buy-back commitments			5						2						—						—
Expenditures for property, plant and equipment and intangible assets, net of assets under operating leases and sold under buy-back commitments			(132)						(180)						—						(2)
Expenditures for assets under operating leases and assets sold under buy-back commitments			(173)						(261)						(309)						(364)
Other			(178)						(264)						83						252
Net cash provided by (used in) investing activities			$	(478)					$	(703)					$	(166)					$	213
Financing activities:
Proceeds from long-term debt			448						694						5,047						6,682
Payments of long-term debt			(12)						(726)						(5,697)						(6,687)
Net increase (decrease) in other financial liabilities			1,338						20						(752)						(125)
Dividends paid			(3)						(278)						(90)						(132)
Other			—						(45)						9						20
Net cash provided by (used in) financing activities			$	1,771					$	(335)					$	(1,483)					$	(242)
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash			(132)						(24)						(42)						5
Decrease in cash and cash equivalents and restricted cash			188						(1,223)						(93)						(234)
Cash and cash equivalents and restricted cash, beginning of year			4,527						4,553						1,246						1,250
Cash and cash equivalents and restricted cash, end of period			$	4,715					$	3,330					$	1,153					$	1,016

(1) In the six months ended June 30, 2020, this item includes the pre-tax gain of $1,475 million from the remeasurement at fair value of the investment in Nikola Corporation.