Presentation (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of discontinued financial information

Details of Statement of Operations line items included in Discontinued Operations, after the eliminations, for the year ended December 31, 2021 are as follows:

(in millions of dollars)	2021
Revenues
Net sales	$	14,743
Finance, interest and other income	194
Total Revenues	14,937
Costs and Expenses
Cost of goods sold	12,765
Selling, general and administrative expenses	989
Research and development expenses	594
Restructuring expenses	39
Interest expense	129
Other, net	380
Total Costs and Expenses	14,896
Income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates	41
Income tax (expense) benefit	(113)
Equity in income of unconsolidated subsidiaries and affiliates	31
Net Income (loss) from discontinued operations	$	(41)

Cash flows from Discontinued Operations for the year ended December 31, 2021 are as follows:

(in millions of dollars)	2021
Cash Flows from Operating Activities
Net income (loss) of discontinued operations	$	(41)
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization expense excluding depreciation and amortization of assets under operating lease	316
Depreciation and amortization expense of assets under operating lease	296
(Gain) loss on disposal of assets	(44)
Undistributed income of unconsolidated subsidiaries	(13)
Other non-cash items	197
Changes in operating assets and liabilities:
Provisions	87
Deferred income taxes	36
Trade and financing receivables related to sales, net	54
Inventories, net	(216)
Trade payables	25
Other assets and liabilities	187
Cash flow from operating activities of discontinued operation	$	884
Cash Flows from Investing Activities
Additions to retail receivables	$	(42)
Collections of retail receivables	50
Proceeds from the sale of assets, net of assets under operating leases	—
Expenditures for property, plant and equipment and intangible assets excluding assets under operating leases	(348)
Expenditures for assets under operating leases	(763)
Other	672
Cash flow provided (used) by investing activities of discontinued operation	$	(431)
Cash Flows from Financing Activities
Proceeds from long-term debt	$	3,459
Payments of long-term debt	(3,602)
Net increase (decrease) in other financial liabilities	97
Dividends paid	—
Cash flow from financing activities of discontinued operation	$	(46)