| | | | | | | | | | | |
| Nine Months Ended September 30, |
| (in millions) | 2023 | | 2022 |
| OPERATING ACTIVITIES OF CONTINUING OPERATIONS | | | |
| Net earnings | $ | 520 | | | $ | 747 | |
| Net (loss) earnings from discontinued operations | (12) | | | 225 | |
| Net earnings from continuing operations | 532 | | | 522 | |
| Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations: | | | |
| Depreciation and tooling amortization | 376 | | | 360 | |
| Intangible asset amortization | 51 | | | 52 | |
| Restructuring expense, net of cash paid | 61 | | | 39 | |
| Stock-based compensation expense | 50 | | | 36 | |
| Gain on debt extinguishment | (28) | | | — | |
| Gain on sale of business | (5) | | | (17) | |
| Deferred income tax expense (benefit) | 19 | | | (14) | |
| Realized and unrealized loss on debt and equity securities | 129 | | | 27 | |
| Other non-cash adjustments | (80) | | | (1) | |
| Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations | 1,105 | | | 1,004 | |
| Retirement plan contributions | (13) | | | (18) | |
| Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: | | | |
| Receivables | (767) | | | (544) | |
| Inventories | (126) | | | (187) | |
| Prepayments and other current assets | (16) | | | 11 | |
| Accounts payable and accrued expenses | 301 | | | 274 | |
| Prepaid taxes and income taxes payable | (44) | | | 14 | |
| Other assets and liabilities | 70 | | | (2) | |
| Net cash provided by operating activities from continuing operations | $ | 510 | | | $ | 552 | |
| | | |
| SUPPLEMENTAL CASH FLOW INFORMATION | | | |
| Cash paid during the period for: | | | |
| Interest | $ | 105 | | | $ | 95 | |
| Income taxes, net of refunds | $ | 284 | | | $ | 204 | |
| | | |
| Balance as of: |
| Non-cash investing transactions: | September 30,
2023 | | December 31,
2022 |
| Period end accounts payable related to property, plant and equipment purchases | $ | 124 | | | $ | 165 | |