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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net income (loss) $ (1,166) $ (60)
Adjustments to reconcile net income (loss) to cash (used) provided by operating activities:    
Goodwill and intangible impairment charges 383 60
Depreciation and amortization 330 338
Deferred income taxes (242) (14)
Stock-based compensation 9 13
Restructuring charges and asset impairments, net of cash paid 540 14
Change in pension and other postretirement benefit plans (26) (32)
Equity in earnings of nonconsolidated affiliates (17) (33)
Cash dividends received from nonconsolidated affiliates 18 27
Loss (gain) on sale of assets (1) (1)
Changes in operating assets and liabilities:    
Receivables 174 (401)
Inventories 292 101
Payables and accrued expenses (540) 48
Accrued interest and accrued income taxes (17) (66)
Other assets and liabilities (68) (94)
Net cash (used) provided by operating activities (331) (100)
Investing Activities    
Acquisitions, net of cash acquired 0 (158)
Proceeds from sale of assets 5 5
Net proceeds from sale of business 0 22
Cash payments for property, plant, and equipment (212) (379)
Proceeds from deferred purchase price of factored receivables 91 147
Other 1 (1)
Net cash (used) provided by investing activities (115) (364)
Financing Activities    
Proceeds from term loans and notes 96 111
Repayments of term loans and notes (133) (190)
Debt issuance costs of long-term debt (16) 0
Borrowings on revolving lines of credit 4,821 4,525
Payments on revolving lines of credit (3,536) (4,254)
Issuance (repurchase) of common shares (1) (2)
Cash dividends 0 (20)
Net increase (decrease) in bank overdrafts 59 (8)
Other (1) (1)
Distributions to noncontrolling interest partners (2) (20)
Net cash (used) provided by financing activities 1,287 141
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash (36) 11
Increase (decrease) in cash, cash equivalents, and restricted cash 805 (312)
Cash, cash equivalents, and restricted cash, beginning of period 566 702
Cash, cash equivalents, and restricted cash, end of period 1,371 390
Supplemental Cash Flow Information    
Cash paid during the period for interest 123 145
Cash paid during the period for income taxes, net of refunds 75 100
Lease assets obtained in exchange for new operating lease liabilities 54 33
Non-cash inventory charge due to aftermarket product line exit 82 0
Non-cash Investing Activities    
Period end balance of accounts payable for property, plant, and equipment 86 116
Deferred purchase price of receivables factored in the period 95 52
Reduction in assets from redeemable noncontrolling interest transaction with owner $ 53 $ 0