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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net Income $ 266 $ 89
Adjustments to Reconcile Net Income to Cash Flows from Operating Activities:    
Depreciation and Amortization 481 405
Amortization and Write-Off of Debt Issuance Costs 8 9
Amortization of Inventory Fair Value Adjustment Related to the business Acquisition 0 38
Transaction and Other Costs Related to the Cooper Tire Acquisition 0 55
Cash Payments for Transaction and Other Costs Related to the Cooper Tire Acquisition (2) (33)
Provision for Deferred Income Taxes (Note 6) 42 (66)
Net Pension Curtailments and Settlements 18 19
Net Rationalization Charges (Note 4) 37 68
Rationalization Payments (59) (123)
Net (Gains) Losses on Asset Sales (Note 5) (98) 0
Operating Lease Expense 150 143
Operating Lease Payments (139) (133)
Pension Contributions and Direct Payments (33) (22)
Changes in Operating Assets and Liabilities, Net of Asset Acquisitions and Dispositions:    
Accounts Receivable (1,024) (545)
Inventories (890) (542)
Accounts Payable — Trade 672 547
Compensation and Benefits (44) 90
Other Current Liabilities 21 (42)
Other Assets and Liabilities 61 (28)
Total Cash Flows from Operating Activities (533) (71)
Cash Flows from Investing Activities:    
Acquisition of Cooper Tire, net of cash and restricted cash acquired 0 (1,856)
Capital Expenditures (511) (385)
Cash Proceeds from Sale and Leaseback Transaction (Note 5) 108  
Asset Dispositions 24 0
Short Term Securities Acquired (41) (57)
Short Term Securities Redeemed 44 58
Notes Receivable (24) (7)
Other Transactions (3) 14
Total Cash Flows from Investing Activities (403) (2,233)
Cash Flows from Financing Activities:    
Short Term Debt and Overdrafts Incurred 723 522
Short Term Debt and Overdrafts Paid (579) (446)
Long Term Debt Incurred 5,312 4,855
Long Term Debt Paid (4,327) (3,042)
Common Stock Issued (5) 9
Transactions with Minority Interests in Subsidiaries (1) (5)
Debt Related Costs and Other Transactions 9 (73)
Total Cash Flows from Financing Activities 1,132 1,820
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash (33) (6)
Net Change in Cash, Cash Equivalents and Restricted Cash 163 (490)
Cash, Cash Equivalents and Restricted Cash at Beginning of the Period 1,164 1,624
Cash, Cash Equivalents and Restricted Cash at End of the Period $ 1,327 $ 1,134