Note 6 - Supplemental Balance Sheet and Cash Flow Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Additional Financial Information Disclosure [Text Block]

Note 6.  Supplemental Balance Sheet and Cash Flow Information

Supplemental balance sheet information at December 31 —

	2023			2022
Other current assets:
Prepaid expenses	$	155		$	167
Restricted cash		23			7
Other		69			45
Total	$	247		$	219
Other noncurrent assets:
Deferred customer incentives	$	34		$	28
Pre-production costs receivable		24			25
Pension assets, net of related obligations		12			9
Restricted cash		11			10
Deferred financing costs		5			4
Other		54			47
Total	$	140		$	123
Property, plant and equipment, net:
Land and improvements to land	$	198		$	187
Buildings and building fixtures		576			539
Machinery and equipment		3,815			3,369
Software and hardware		366			310
Construction in progress		450			495
Finance lease right-of-use assets		55			57
Total cost		5,460			4,957
Less: accumulated depreciation		(3,149	)		(2,764	)
Net	$	2,311		$	2,193
Other accrued liabilities (current):
Non-income taxes payable	$	57		$	54
Warranty reserves		53			35
Contract liabilities		50			48
Accrued interest		50			29
Accrued customer rebates		27			20
Payable under forward contracts		12			11
Restructuring costs		10			2
Environmental		3			3
Deferred government assistance					3
Other expense accruals		111			72
Total	$	373		$	277
Other noncurrent liabilities:
Income tax liability	$	81		$	58
Interest rate swap market valuation		20			11
Deferred income tax liability		34			30
Workplace injury costs		13			14
Warranty reserves		63			73
Deferred government assistance		16			16
Other noncurrent liabilities		92			47
Total	$	319		$	249

Cash, cash equivalents and restricted cash at —

	December 31, 2023		December 31, 2022		December 31, 2021		December 31, 2020
Cash and cash equivalents	$	529	$	425	$	268	$	559
Restricted cash included in other current assets		23		7		9		5
Restricted cash included in other noncurrent assets		11		10		10		3
Total cash, cash equivalents and restricted cash	$	563	$	442	$	287	$	567

Supplemental cash flow information —

	2023			2022			2021
Change in working capital:
Change in accounts receivable	$	12		$	(81	)	$	(189	)
Change in inventories		(42	)		(99	)		(471	)
Change in accounts payable		(88	)		343			254
Change in accrued payroll and employee benefits		73			36			3
Change in accrued income taxes		54			10			(44	)
Change in other current assets and liabilities		61			(10	)		(8	)
Net	$	70		$	199		$	(455	)
Cash paid during the period for:
Interest	$	128		$	117		$	109
Income taxes		148			132			99
Noncash investing and financing activities:
Purchases of property, plant and equipment held in accounts payable	$	48		$	74		$	91
Stock compensation plans		26			17			18
Noncash dividends declared		1			1			1