v3.26.1
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income (loss) $ 1,091 $ 61
Less: Net income from discontinued operations 1,095 90
Net income (loss) from continuing operations (4) (29)
Depreciation 166 171
Amortization 5 6
Amortization of deferred financing charges 2 3
Earnings of affiliates, net of dividends received (8) (25)
Stock compensation expense 19 23
Deferred income taxes 30 (26)
Pension expense, net (4)
Change in working capital (221) (202)
Change in other noncurrent assets and liabilities (23) (13)
Loss on divestiture of ownership interests 8 7
Noncash electric vehicle program termination charges 59  
Other, net (39) 54
Net cash used in operating activities from continuing operations (10) (31)
Net cash provided by (used in) operating activities from discontinued operations (76) 26
Net cash used in operating activities (86) (5)
Investing activities    
Purchases of property, plant and equipment (204) (104)
Proceeds from sale of property, plant and equipment 2 11
Proceeds from sales of investments 1 57
Settlements of undesignated derivatives (6) (6)
Other, net 4
Net cash used in investing activities from continuing operations (207) (38)
Net cash provided by (used in) investing activities from discontinued operations 2,528 (22)
Net cash provided by (used in) investing activities 2,321 (60)
Financing activities    
Net change in short-term debt (618) 522
Repayment of long-term debt (1,338) (210)
Dividends paid to common stockholders (26) (29)
Repurchases of common stock (169) (257)
Distributions to noncontrolling interests (2) (3)
Payment for mandatorily redeemable noncontrolling interest (190)  
Swap settlements   (14)
Other, net (25) (8)
Net cash provided by (used in) financing activities (2,368) 1
Net decrease in cash, cash equivalents and restricted cash (133) (64)
Cash, cash equivalents and restricted cash – beginning of period 486 512
Cash, cash equivalents and restricted cash – end of period (Note 5) 349 501
Effect of exchange rate changes on cash balances (4) 53
Non-cash investing activity    
Purchases of property, plant and equipment held in accounts payable $ 38 $ 29