| | | | | | | | | | | |
| Three Months Ended March 31, |
| (in millions) | 2026 | | 2025 |
| OPERATING ACTIVITIES | | | |
| Net earnings | $ | 255 | | | $ | 171 | |
| | | |
| | | |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | | | |
| Depreciation and tooling amortization | 129 | | | 138 | |
| Intangible asset amortization | 16 | | | 17 | |
| Restructuring expense, net of cash paid | 5 | | | 21 | |
| Stock-based compensation expense | 10 | | | 14 | |
| | | |
| Impairment charges | — | | | 39 | |
| Costs to exit charging business | — | | | 26 | |
| | | |
| Loss on sale of businesses | — | | | 1 | |
| Deferred income tax benefit | (14) | | | (24) | |
| Unrealized loss on equity securities | 1 | | | — | |
| Other non-cash adjustments | (5) | | | 1 | |
| Adjustments to reconcile net earnings to net cash provided by operating activities | 142 | | | 233 | |
| Retirement plan contributions | 3 | | | (7) | |
| Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: | | | |
| Receivables | (146) | | | (255) | |
| Inventories | (5) | | | 61 | |
| Prepayments and other current assets | (32) | | | 4 | |
| Accounts payable and accrued expenses | (45) | | | (141) | |
| Prepaid taxes and income taxes payable | (17) | | | (1) | |
| Other assets and liabilities | (3) | | | 17 | |
| Net cash provided by operating activities | $ | 152 | | | $ | 82 | |
| | | |
| SUPPLEMENTAL CASH FLOW INFORMATION | | | |
| Cash paid during the period for: | | | |
| Interest | $ | 42 | | | $ | 49 | |
| Income taxes, net of refunds | $ | 101 | | | $ | 83 | |
| | | |
| Balance as of: |
| Non-cash investing transactions: | March 31,
2026 | | December 31,
2025 |
| Period end accounts payable related to property, plant and equipment purchases | $ | 69 | | | $ | 116 | |
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