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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities      
Net income $ 111,000,000 $ 265,000,000 $ 415,000,000
Adjustments to reconcile net income to cash provided by operating activities:      
Goodwill impairment charge 3,000,000 11,000,000 0
Depreciation and amortization 345,000,000 226,000,000 213,000,000
Deferred income taxes (65,000,000) (8,000,000) (84,000,000)
Stock-based compensation 14,000,000 14,000,000 14,000,000
Restructuring charges and asset impairments, net of cash paid 49,000,000 8,000,000 (13,000,000)
Change in pension and postretirement benefit plans (8,000,000) (15,000,000) 47,000,000
Equity in earnings of nonconsolidated affiliates (18,000,000) 1,000,000 0
Cash dividends received from nonconsolidated affiliates 2,000,000 0 0
Loss on sale of assets 16,000,000 5,000,000 4,000,000
Changes in operating assets and liabilities:      
Receivables (190,000,000) (81,000,000) (325,000,000)
Inventories 27,000,000 (94,000,000) (55,000,000)
Payables and accrued expenses 291,000,000 136,000,000 140,000,000
Accrued interest and income taxes (19,000,000) 1,000,000 13,000,000
Other assets and liabilities (119,000,000) 48,000,000 5,000,000
Net cash provided by operating activities 439,000,000 517,000,000 374,000,000
Investing Activities      
Federal-Mogul acquisition, net of cash acquired (2,194,000,000) 0 0
Proceeds from sale of assets 9,000,000 8,000,000 6,000,000
Proceeds from sale of equity interest 0 9,000,000 0
Cash payments for plant, property, and equipment (507,000,000) (419,000,000) (345,000,000)
Proceeds from deferred purchase price of factored receivables 174,000,000 112,000,000 110,000,000
Other 4,000,000 (10,000,000) 0
Net cash used by investing activities (2,514,000,000) (300,000,000) (229,000,000)
Financing Activities      
Proceeds from term loans and notes 3,426,000,000 160,000,000 529,000,000
Repayments of term loans and notes (453,000,000) (36,000,000) (545,000,000)
Borrowings on revolving lines of credit 5,149,000,000 6,664,000,000 5,417,000,000
Payments on revolving lines of credit (5,405,000,000) (6,737,000,000) (5,221,000,000)
Issuance (repurchase) of common shares (1,000,000) (1,000,000) 13,000,000
Cash dividends (59,000,000) (53,000,000) 0
Debt issuance cost of long-term debt (95,000,000) (8,000,000) (9,000,000)
Purchase of common stock under the share repurchase program 0 (169,000,000) (225,000,000)
Net increase (decrease) in bank overdrafts (5,000,000) (7,000,000) 10,000,000
Other (30,000,000) 0 0
Distributions to noncontrolling interest partners (51,000,000) (64,000,000) (55,000,000)
Net cash provided (used) by financing activities 2,476,000,000 (251,000,000) (86,000,000)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (17,000,000) 3,000,000 2,000,000
Increase (decrease) in cash, cash equivalents and restricted cash 384,000,000 (31,000,000) 61,000,000
Cash, cash equivalents and restricted cash, January 1 318,000,000 [1] 349,000,000 [1] 288,000,000
Cash, cash equivalents and restricted cash, December 31 [1] 702,000,000 318,000,000 349,000,000
Supplemental Cash Flow Information      
Cash paid during the year for interest 143,000,000 78,000,000 76,000,000
Cash paid during the year for income taxes, net of refunds 113,000,000 95,000,000 113,000,000
Non-cash Investing and Financing Activities      
Period end balance of trade payables for plant, property, and equipment 135,000,000 59,000,000 68,000,000
Deferred purchase price of receivables factored in period 154,000,000 114,000,000 109,000,000
Stock issued for acquisition of Federal-Mogul 0 0 0
Stock transferred for acquisition of Federal-Mogul $ 1,236 $ 0 $ 0
[1] Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.