XML 35 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

BASIS OF PRESENTATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Discontinued Financial Information | The following table presents the assets and liabilities of the Iveco Group Business classified as Assets Held for Distribution and Liabilities Held for Distribution:
|  | December 31, 2021
ASSETS HELD FOR DISTRIBUTION |  |
Cash and cash equivalents |  | $ | 961 |
Restricted cash |  | 55 |
Trade receivables, net |  | 165 |
Financing receivables, net |  | 3,284 |
Inventories, net |  | 3,005 |
Property, plant and equipment, net |  | 3,221 |
Investments in unconsolidated subsidiaries and affiliates |  | 613 |
Equipment under operating leases |  | 66 |
Goodwill, net |  | 80 |
Other intangible assets, net |  | 141 |
Deferred tax assets |  | 1,059 |
Other assets |  | 896 |
Total Assets Held for Distribution |  | $ | 13,546 |
LIABILITIES HELD FOR DISTRIBUTION |  |
Debt |  | 2,343 |
Trade payables |  | 3,366 |
Deferred tax liabilities |  | 14 |
Pension, postretirement and other postemployment benefits |  | 560 |
Other liabilities |  | 5,609 |
Total Liabilities Held for Distribution |  | $ | 11,892 |
Details of Statement of Operations line items included in Discontinued Operations, after the eliminations, for the quarter ended March 31, 2021 are as follows:
|  | Three Months Ended March 31,
|  | 2021
Revenues |  |
Net sales |  | $ | 3,570 |
Finance, interest and other income |  | 49 |
Total Revenues |  | $ | 3,619 |
Costs and Expenses |  |
Cost of goods sold |  | 3,058 |
Selling, general and administrative expenses |  | 221 |
Research and development expenses |  | 131 |
Restructuring expenses |  | 1 |
Interest expense |  | 29 |
Other, net |  | 75 |
Total Costs and Expenses |  | $ | 3,515 |
Income (loss) before income taxes and equity in income of unconsolidated subsidiaries and affiliates |  | 104 |
Income tax (expense) benefit |  | (41) |
Equity in income of unconsolidated subsidiaries and affiliates |  | (1) |
Net Income (loss) from discontinued operations |  | $ | 62 |
Cash flows from Discontinued Operations from the quarter ended March 31, 2021 are as follows:
|  | Three Months Ended March 31,
|  | 2021
Operating activities: |  |
Net income (loss) of discontinued operations |  | $ | 62 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |
Depreciation and amortization expense, net of depreciation and amortization of assets under operating leases and assets sold under buy-back commitments |  | 78 |
Depreciation and amortization expense of assets under operating leases and assets sold under buy-back commitments |  | 75 |
Loss on repurchase of notes |  | — |
Undistributed income of unconsolidated subsidiaries |  | 1 |
Other non-cash items |  | 48 |
Changes in operating assets and liabilities: |  |
Provisions |  | 57 |
Deferred income taxes |  | 22 |
Trade and financing receivables related to sales, net |  | 215 |
Inventories, net |  | (380) |
Trade payables |  | (22) |
Other assets and liabilities |  | (25) |
Cash flow from operating activities of discontinued operation |  | $ | 131 |
Investing activities: |  |
Additions to retail receivables |  | (4) |
Collections of retail receivables |  | 9 |
Proceeds from the sale of assets, net of assets under operating leases and assets sold under buy-back commitments |  | — |
Expenditures for property, plant and equipment and intangible assets, net of assets under operating leases and assets sold under buy-back commitments |  | (34) |
Expenditures for assets under operating leases and assets sold under buy-back commitments |  | (169) |
Other |  | 325 |
Cash flow from investing activities of discontinued operation |  | $ | 127 |
Financing activities: |  |
Proceeds from long-term debt |  | 731 |
Payments of long-term debt |  | (986) |
Net decrease in other financial liabilities |  | (104) |
Dividends paid |  | — |
Cash flow from financing activities of discontinued operation |  | $ | (359) |

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
Name: | us-gaap_ScheduleOfDisposalGroupsIncludingDiscontinuedOperationsIncomeStatementBalanceSheetAndAdditionalDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration