OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION

	Three Months Ended March 31,
(in millions)	2022		2021
OPERATING
Net earnings	$	224	$	94
Adjustments to reconcile net earnings to net cash flows from operations:
Depreciation and tooling amortization	157		175
Intangible asset amortization	23		20
Restructuring expense, net of cash paid	12		18
Stock-based compensation expense	12		12
Gain on sale of business	(26)		—
Deferred income tax benefit	(8)		(64)
Unrealized loss on equity securities	39		272
Other non-cash adjustments	(10)		(16)
Net earnings adjustments to reconcile to net cash flows from operations	423		511
Retirement plan contributions	(5)		(7)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments:
Receivables	(282)		(290)
Inventories	(124)		(104)
Prepayments and other current assets	3		—
Accounts payable and accrued expenses	109		172
Prepaid taxes and income taxes payable	(9)		18
Other assets and liabilities	1		42
Net cash provided by operating activities	$	116	$	342
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the period for:
Interest, net	$	27	$	25
Income taxes, net of refunds	$	96	$	75
	Balance as of:
Non-cash investing transactions:	March 31, 2022		December 31, 2021
Period end accounts payable related to property, plant and equipment purchases	$	107	$	142