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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Sep. 30, 2020
OPERATING ACTIVITIES          
Net income $ 66 $ 242 $ 99 $ 283  
Less: Income from discontinued operations, net of tax 0 1 0 1  
Income from continuing operations 66 241 99 282  
Adjustments to income from continuing operations to arrive at cash provided by operating activities:          
Depreciation and amortization     52 50  
Deferred income tax expense (benefit)     2 (4)  
Restructuring costs     8 15  
Stock compensation expense     10 1  
Equity in earnings of affiliates (5) (6) (16) (12)  
Pension and retiree medical income     (26) (21)  
Loss on debt extinguishment     8 0  
Dividends received from equity method investments     2 0  
Pension and retiree medical contributions     (6) (7)  
Restructuring payments     (8) (15)  
Changes in off-balance sheet accounts receivable securitization and factoring programs     35 20  
Changes in receivables, inventories and accounts payable     (63) (8)  
Changes in other current assets and liabilities     5 (49)  
Changes in other assets and liabilities     5 38  
Operating cash flows provided by continuing operations     107 290  
Operating cash flows used for discontinued operations     0 0  
CASH PROVIDED BY OPERATING ACTIVITIES     107 290  
INVESTING ACTIVITIES          
Capital expenditures     (26) (33)  
Cash paid for acquisition of Transportation Power, Inc., net of cash acquired     0 (13)  
Other investing activities     (3) 9  
CASH USED FOR INVESTING ACTIVITIES     (29) (37)  
FINANCING ACTIVITIES          
Securitization     0 96  
Borrowings against revolving line of credit     0 304  
Proceeds from debt issuance     275 0  
Redemption of notes     (281) 0  
Redemption of convertible notes     (53) 0  
Debt issuance costs     (5) 0  
Term loan payments     (7) (4)  
Other financing activities     (1) (1)  
Net change in debt     (72) 395  
Repurchase of common stock     0 (241)  
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES     (72) 154  
EFFECT OF CHANGES IN FOREIGN CURRENCY EXCHANGE RATES ON CASH AND CASH EQUIVALENTS     0 (7)  
CHANGE IN CASH AND CASH EQUIVALENTS     6 400  
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     315 108 $ 108
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 321 $ 508 $ 321 $ 508 $ 315