XML 88 R6.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net (loss) income $ (2,035) $ 79
Non-cash items included in net (loss) income:    
Loss on disposal of APP 101  
Goodwill impairment [1] 1,370  
Intangible assets impairment 143  
Other asset impairments 18  
Depreciation and amortization 200 187
Debt issuance cost amortization 30 27
Stock-based compensation charges 16 36
Deferred taxes 4 (86)
Other non-cash items   2
Changes in operating assets and liabilities, net of effects of businesses acquired:    
Accounts receivable (78) 130
Contracts in progress, net of advance billings on contracts (955) (318)
Inventory (23) 4
Accounts payable 680 123
Other current and non-current assets (42) (52)
Investments in unconsolidated affiliates (7) (2)
Other current and non-current liabilities 15 84
Total cash (used in) provided by operating activities (563) 214
Cash flows from investing activities:    
Business combinations, net of cash acquired (7) (2,374)
Proceeds from asset disposals, net 83 55
Purchases of property, plant and equipment [2] (65) (62)
Advances related to proportionately consolidated consortiums (277) (155)
Investments in unconsolidated affiliates (3) (14)
Total cash used in investing activities (269) (2,550)
Cash flows from financing activities:    
Revolving credit facility borrowings 2,451  
Revolving credit facility repayments (1,650)  
Proceeds from issuance of long-term debt   3,560
Repayment of debt and finance lease obligations (26) (531)
Advances related to equity method joint ventures and proportionately consolidated consortiums 248 67
Debt and letter of credit issuance costs (3) (209)
Debt extinguishment costs   (10)
Repurchase of common stock (4) (14)
Distributions to joint venture members (18)  
Total cash provided by financing activities 1,030 2,863
Effects of exchange rate changes on cash, cash equivalents and restricted cash (33) (30)
Net increase in cash, cash equivalents and restricted cash 165 497
Cash, cash equivalents and restricted cash at beginning of period 845 408
Cash, cash equivalents and restricted cash at end of period 1,010 $ 905
Structured Equipment Financing [Member]    
Cash flows from financing activities:    
Revolving credit facility borrowings $ 32  
[1] Represents impairment of goodwill associated with our NCSA and EARC reporting units, resulting from our interim impairment assessment during the third quarter of 2019. In addition, in the third quarter of 2019 we recorded $143 million of impairment associated with NCSA intangible assets. The goodwill impairment values are included within the applicable operating segment’s operating loss. See Note 9, Goodwill and Other Intangible Assets, for further discussion.
[2] Capital expenditures reported represent cash purchases. As of September 30, 2019, we had approximately $127 million of accrued and unpaid capital expenditures reported in property, plant and equipment; the balance as of September 30, 2018 was not material.