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CONDENSED COMBINED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net income from operations $ 102 $ 403
Adjustments to reconcile net income from operations to net cash flows provided by (used in) operating activities, net of acquisitions and dispositions    
Depreciation and amortization 81 85
Deferred income tax provision 135 15
Stock compensation costs 13 8
Equity method investment net earnings (29) (40)
Distributions from equity method investments 10 5
Impairment charge on minority owned joint venture investment 71 0
Changes in operating assets and liabilities    
Accounts receivable, net (19) (148)
Contract assets, current (39) (51)
Inventories, net (264) (230)
Other assets, current (10) 8
Accounts payable and accrued liabilities (24) (227)
Contract liabilities, current 51 27
Pension contributions (25) (22)
Other operating activities, net (6) (16)
Net cash flows provided by (used in) operating activities 47 (183)
Investing Activities    
Capital expenditures (48) (41)
Dispositions of businesses (Note 9) 0 1
Other investing activities, net (80) (3)
Net cash flows used in investing activities (128) (43)
Financing Activities    
(Decrease) increase in short-term borrowings, net (44) 6
Issuance of long-term debt 10,961 52
Repayment of long-term debt (34) (1)
Dividends paid to non-controlling interest (8) (2)
Net transfers to UTC (10,948) (89)
Other financing activities, net (3) (23)
Net cash flows used in financing activities (76) (57)
Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]    
Effect of foreign exchange rate changes on cash and cash equivalents (28) 16
Net decrease in cash and cash equivalents and restricted cash (185) (267)
Cash, cash equivalents and restricted cash, beginning of period 957 1,134
Cash, cash equivalents and restricted cash, end of period 772 867
Less: restricted cash 4 4
Cash and cash equivalents, end of period $ 768 $ 863