v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities        
Net income $ 141 $ 217 $ 151 $ 349
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization expense, excluding assets under operating leases 117 106 233 208
Depreciation and amortization expense of assets under operating leases     99 98
Undistributed income (loss) from unconsolidated affiliates     (9) 11
Other non-cash items     212 183
Changes in operating assets and liabilities:        
Provisions     (83) (153)
Deferred income taxes     (72) (30)
Trade and financing receivables, net     (10) 443
Inventories, net     (436) (51)
Trade payables     177 (8)
Other assets and liabilities     (82) (116)
Net cash provided by operating activities     180 934
Cash Flows from Investing Activities        
Additions to retail receivables     (3,290) (3,701)
Collections of retail receivables     3,893 3,810
Expenditures for property, plant and equipment and intangible assets (117) (90) (210) (196)
Expenditures for assets under operating leases, net     (281) (320)
Other, net     (39) (215)
Net cash provided (used) by investing activities     73 (622)
Cash Flows from Financing Activities        
Proceeds from long-term debt     6,680 6,268
Payments of long-term debt     (6,832) (5,810)
Net decrease in other financial liabilities     (683) (1,393)
Dividends paid     (127) (321)
Purchase of treasury shares     (62) (5)
Net cash used in financing activities     (1,024) (1,261)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash     6 230
Net decrease in cash, cash equivalents and restricted cash     (765) (719)
Cash, cash equivalents and restricted cash, beginning of period     3,229 3,866
Cash, cash equivalents and restricted cash, end of period 2,464 3,147 2,464 3,147
Components of cash, cash equivalents and restricted cash        
Cash and cash equivalents 1,868 2,512 1,868 2,512
Restricted cash 596 635 596 635
Total cash, cash equivalents and restricted cash $ 2,464 $ 3,147 $ 2,464 $ 3,147