| | | | | | | | | | | |
| Six Months Ended June 30, |
| (in millions) | 2026 | | 2025 |
| OPERATING ACTIVITIES | | | |
| Net earnings | $ | 546 | | | $ | 403 | |
| | | |
| | | |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | | | |
| Depreciation and tooling amortization | 264 | | | 301 | |
| Intangible asset amortization | 30 | | | 33 | |
| Restructuring expense, net of cash paid | 11 | | | 23 | |
| Stock-based compensation expense | 26 | | | 33 | |
| | | |
| Impairment charges | — | | | 42 | |
| Costs to exit charging business | — | | | 32 | |
| Loss on sale of assets | — | | | 5 | |
| Loss on sale of businesses | — | | | 1 | |
| Deferred income tax benefit | (32) | | | (40) | |
| Unrealized gain on equity securities | (3) | | | (1) | |
| Other non-cash adjustments | (2) | | | — | |
| Adjustments to reconcile net earnings to net cash provided by operating activities | 294 | | | 429 | |
| Retirement plan contributions | (11) | | | (13) | |
| Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: | | | |
| Receivables | (118) | | | (201) | |
| Inventories | (43) | | | 96 | |
| Prepayments and other current assets | (43) | | | 7 | |
| Accounts payable and accrued expenses | 97 | | | (91) | |
| Prepaid taxes and income taxes payable | (5) | | | (29) | |
| Other assets and liabilities | 21 | | | 60 | |
| Net cash provided by operating activities | $ | 738 | | | $ | 661 | |
| | | |
| SUPPLEMENTAL CASH FLOW INFORMATION | | | |
| Cash paid during the period for: | | | |
| Interest | $ | 54 | | | $ | 61 | |
| Income taxes, net of refunds | $ | 190 | | | $ | 188 | |
| | | |
| Balance as of: |
| Non-cash investing transactions: | June 30,
2026 | | December 31,
2025 |
| Period end accounts payable related to property, plant and equipment purchases | $ | 83 | | | $ | 116 | |
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