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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net earnings $ 213 $ 168 $ 405
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 91 85 65
Deferred income taxes 23 (52) (6)
Gain from sale of business 0 0 (354)
Share-based compensation expense 22 17 5
Other 1 1 0
Changes in assets and liabilities:      
Accounts receivable (102) 15 (1)
Contract assets 36 (36) (134)
Inventories (29) (10) (33)
Prepaid expenses (6) (1) (1)
Other current assets (13) (18) 3
Other noncurrent assets 17 19 24
Defined benefit obligations (2) (8) (4)
Accounts payable 15 (59) (14)
Contract liabilities 64 102 72
Other current liabilities (39) (26) 14
Other noncurrent liabilities (20) 8 (8)
Net cash provided by operating activities 271 205 33
Investing activities      
Capital expenditures (85) (60) (65)
Business acquisitions, net of cash acquired 0 0 19
Proceeds from sales of assets 1 1 0
Proceeds from sales of businesses 0 0 482
Net cash (used in) provided by investing activities (84) (59) 436
Financing activities      
Net (decrease) increase in third party borrowings (maturities of 90 days or less) (32) 20 (8)
Repayment of third party debt (291) (727) 0
Borrowings of third party debt 280 715 223
Repayment of related party debt 0 0 (992)
Borrowings from related parties 0 0 775
Dividend to US Holding 0 0 (396)
Dividend from investment 0 0 3
Proceeds from stock issuance 16 12 0
Cash outlay to reacquire equity instruments (19) (1) 0
Other (10) (4) (8)
Net cash (used in) provided by financing activities (56) 15 (403)
Effect of exchange rate changes on cash and cash equivalents 0 0 0
Net increase in cash and cash equivalents 131 161 66
Cash and cash equivalents at beginning of year 467 306 240
Cash and cash equivalents at end of year $ 598 $ 467 $ 306