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OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract] |
Schedule of Cash Flow, Supplemental Disclosures |
| Three Months Ended March 31,
(in millions) | 2024 |  | 2023
OPERATING ACTIVITIES OF CONTINUING OPERATIONS |  |  |
Net earnings | $ | 221 |  |  | $ | 230 |
Net (loss) earnings from discontinued operations | (7) |  |  | 49 |
Net earnings from continuing operations | 228 |  |  | 181 |
Adjustments to reconcile net earnings from continuing operations to net cash (used in) provided by operating activities from continuing operations: |  |  |
Depreciation and tooling amortization | 133 |  |  | 125 |
Intangible asset amortization | 17 |  |  | 17 |
Restructuring expense, net of cash paid | 13 |  |  | 2 |
Stock-based compensation expense | 18 |  |  | 11 |
Deferred income tax benefit | (9) |  |  | (2) |
Unrealized loss on debt and equity securities | 2 |  |  | 15 |
Other non-cash adjustments | (19) |  |  | 13 |
Adjustments to reconcile net earnings from continuing operations to net cash (used in) provided by operating activities from continuing operations | 155 |  |  | 181 |
Retirement plan contributions | (4) |  |  | (5) |
Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: |  |  |
Receivables | (229) |  |  | (159) |
Inventories | (40) |  |  | (77) |
Prepayments and other current assets | (9) |  |  | (6) |
Accounts payable and accrued expenses | (211) |  |  | (85) |
Prepaid taxes and income taxes payable | (42) |  |  | 1 |
Other assets and liabilities | 34 |  |  | 28 |
Net cash (used in) provided by operating activities from continuing operations | $ | (118) |  |  | $ | 59 |
SUPPLEMENTAL CASH FLOW INFORMATION |  |  |
Cash paid during the period for: |  |  |
Interest | $ | 31 |  |  | $ | 25 |
Income taxes, net of refunds | $ | 93 |  |  | $ | 74 |
| Balance as of:
Non-cash investing transactions: | March 31, 2024 |  | December 31, 2023
Period end accounts payable related to property, plant and equipment purchases | $ | 133 |  |  | $ | 148 |

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- References No definition available. + Details
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