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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net earnings $ 168 $ 405 $ 154
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 85 65 58
Deferred income taxes (52) (6) 31
Gain from sale of business 0 (354) 0
Share-based compensation expense 17 5 0
Other 1 0 0
Changes in assets and liabilities:      
Accounts receivable 15 (1) (54)
Contract assets (36) (134) (71)
Inventories (10) (33) 42
Prepaid expenses (1) (1) 10
Other current assets (18) 3 12
Other noncurrent assets 19 24 19
Defined benefit obligations (8) (4) (13)
Other current liabilities (26) 14 28
Other noncurrent liabilities 8 (8) (36)
Accounts payable (59) (14) 1
Contract liabilities 102 72 (3)
Net cash provided by operating activities 205 33 178
Investing activities      
Capital expenditures (60) (65) (60)
Business acquisitions, net of cash acquired 0 19 (14)
Proceeds from sales of assets 1 0 0
Proceeds from sales of businesses 0 482 0
Net repayments received on related party note receivable 0 0 115
Cost method investment 0 0 (2)
Net cash (used in) provided by investing activities (59) 436 39
Financing activities      
Net increase (decrease) in third party borrowings (maturities of 90 days or less) 20 (8) (18)
Repayment of third party debt (727) 0 0
Borrowings of third party debt 715 223 0
Repayment of related party debt 0 (992) (950)
Borrowings from related parties 0 775 930
Dividend to US Holding 0 (396) 0
Dividend from investment 0 3 0
Proceeds from stock issuance 12 0 0
Cash outlay to reacquire equity instruments (1) 0 0
Other (4) (8) 0
Net cash provided by (used in) financing activities 15 (403) (38)
Effect of exchange rate changes on cash and cash equivalents 0 0 0
Net increase in cash and cash equivalents 161 66 179
Cash and cash equivalents at beginning of year 306 240 61
Cash and cash equivalents at end of period $ 467 $ 306 $ 240