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OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 6 Months Ended
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Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract] |
Schedule of cash flow, supplemental disclosures |
| Six Months Ended June 30,
(in millions) | 2022 |  | 2021
OPERATING |  |  |
Net earnings | $ | 455 |  |  | $ | 368 |
Adjustments to reconcile net earnings to net cash flows from operations: |  |  |
Depreciation and tooling amortization | 315 |  |  | 350 |
Intangible asset amortization | 50 |  |  | 40 |
Restructuring expense, net of cash paid | 36 |  |  | 59 |
Stock-based compensation expense | 28 |  |  | 27 |
(Gain) loss on sales of businesses | (26) |  |  | 7 |
Deferred income tax benefit | (26) |  |  | (99) |
Unrealized loss on equity securities | 28 |  |  | 276 |
Loss on debt extinguishment | — |  |  | 20 |
Gain on insurance recovery received for property damages | — |  |  | (2) |
Other non-cash adjustments | (15) |  |  | (12) |
Net earnings adjustments to reconcile to net cash flows from operations | 845 |  |  | 1,034 |
Retirement plan contributions | (14) |  |  | (12) |
Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: |  |  |
Receivables | (353) |  |  | (158) |
Inventories | (194) |  |  | (260) |
Prepayments and other current assets | 5 |  |  | (21) |
Accounts payable and accrued expenses | 50 |  |  | 41 |
Prepaid taxes and income taxes payable | (10) |  |  | 30 |
Other assets and liabilities | 3 |  |  | (32) |
Net cash provided by operating activities | $ | 332 |  |  | $ | 622 |
SUPPLEMENTAL CASH FLOW INFORMATION |  |  |
Cash paid during the period for: |  |  |
Interest, net | $ | 59 |  |  | $ | 54 |
Income taxes, net of refunds | $ | 171 |  |  | $ | 185 |
| Balance as of:
Non-cash investing transactions: | June 30, 2022 |  | December 31, 2021
Period end accounts payable related to property, plant and equipment purchases | $ | 99 |  |  | $ | 142 |

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- References No definition available. + Details
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