Garrett Motion Inc. (GTX) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
LA PIECE 16 ROLLE, 1180 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3714 - Motor Vehicle Parts and Accessories (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 259 | 246 | 423 | 592 | 187 | 196 | |||
| Cash and cash equivalents | 259 | 246 | 423 | 592 | 187 | 196 | |||
| Restricted cash and investments | 1 | 2 | 41 | 101 | |||||
| Receivables | 99 | 88 | 78 | 77 | 69 | 67 | |||
| Inventory, net of allowances, customer advances and progress billings | 263 | 270 | 244 | 235 | 220 | 172 | |||
| Inventory | 263 | 270 | 244 | 235 | 220 | 172 | |||
| Other current assets | 75 | 110 | 56 | 110 | 85 | 71 | |||
| Other undisclosed current assets | 709 | 715 | 669 | 764 | 638 | 683 | |||
| Total current assets: | 1,406 | 1,431 | 1,511 | 1,879 | 1,199 | 1,189 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 477 | 470 | 485 | 505 | 471 | 438 | |||
| Long-term investments and receivables, including: | 29 | 30 | 28 | 30 | 36 | 39 | |||
| Other undisclosed long-term investments and receivables | 29 | 30 | 28 | 30 | 36 | 39 | |||
| Intangible assets, net (including goodwill) | 193 | 193 | 193 | 193 | 193 | 193 | |||
| Goodwill | 193 | 193 | 193 | 193 | 193 | 193 | |||
| Deferred income tax assets | 216 | 232 | 289 | 275 | ✕ | ||||
| Other noncurrent assets | 206 | 281 | 200 | 135 | 108 | 80 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 165 | ||
| Other undisclosed noncurrent assets | 268 | ||||||||
| Total noncurrent assets: | 1,121 | 1,206 | 1,195 | 1,138 | 1,076 | 915 | |||
| TOTAL ASSETS: | 2,527 | 2,637 | 2,706 | 3,017 | 2,275 | 2,104 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,367 | 1,368 | 1,301 | 1,267 | 1,319 | 1,342 | |||
| Accounts payable | 1,074 | 1,048 | 1,006 | 1,019 | 1,009 | 916 | |||
| Accrued liabilities | 293 | 320 | 295 | 248 | 310 | 426 | |||
| Deferred revenue | 5 | ✕ | |||||||
| Debt | 7 | 7 | 7 | 370 | 4 | 23 | |||
| Accrued environmental loss contingencies | 3 | ||||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2 | ||
| Other undisclosed current liabilities | 192 | 200 | 69 | 125 | |||||
| Total current liabilities: | 1,374 | 1,375 | 1,508 | 1,837 | 1,392 | 1,492 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,643 | 1,148 | 1,181 | 1,082 | 1,409 | 1,569 | |||
| Long-term debt, excluding current maturities | 1,643 | 1,148 | 1,181 | 1,082 | 1,409 | 1,569 | |||
| Liabilities, other than long-term debt | 245 | 230 | 290 | 116 | 274 | 236 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 27 | ||
| Deferred income tax liabilities | 27 | 25 | 21 | 2 | ✕ | ||||
| Other liabilities | 218 | 205 | 269 | 114 | 274 | 209 | |||
| Other undisclosed noncurrent liabilities | 195 | 2,290 | 1,333 | 1,400 | |||||
| Total noncurrent liabilities: | 1,888 | 1,378 | 1,666 | 3,488 | 3,016 | 3,205 | |||
| Total liabilities: | 3,262 | 2,753 | 3,174 | 5,325 | 4,408 | 4,697 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | (735) | (116) | (468) | (2,308) | (2,133) | (2,593) | |||
| Treasury stock, value | |||||||||
| Additional paid in capital | 1,190 | 1,333 | 1,326 | 28 | 19 | 5 | |||
| Accumulated other comprehensive income (loss) | (3) | 36 | (4) | (129) | 130 | 73 | |||
| Accumulated deficit | (1,922) | (1,485) | (1,790) | (2,207) | (2,282) | ||||
| Other undisclosed equity, attributable to parent | (2,671) | ||||||||
| Total equity: | (735) | (116) | (468) | (2,308) | (2,133) | (2,593) | |||
| TOTAL LIABILITIES AND EQUITY: | 2,527 | 2,637 | 2,706 | 3,017 | 2,275 | 2,104 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 3,886 | 3,603 | 3,633 | 3,034 | 3,248 | 3,375 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (3,130) | (2,920) | (2,926) | (2,478) | (2,537) | (2,599) | ||
| Gross profit: | 756 | 683 | 707 | 556 | 711 | 776 | ||
| Operating expenses | (247) | (216) | (216) | (277) | (249) | (249) | ||
| Other operating expense, net | (5) | (2) | (1) | (46) | (40) | (120) | ||
| Operating income: | 504 | 465 | 490 | 233 | 422 | 407 | ||
| Nonoperating income (expense) | 2 | 121 | 16 | 38 | (8) | 8 | ||
| Investment income, nonoperating | 7 | 76 | 11 | 3 | 7 | 7 | ||
| Gain (loss), foreign currency transaction, before tax | (6) | (3) | (14) | 35 | (13) | (6) | ||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | 7 | 37 | 13 | (5) | (8) | (2) | ||
| Other nonoperating income (expense) | 4 | (1) | 4 | |||||
| Interest and debt expense | (159) | (87) | (93) | (79) | (68) | (19) | ||
| Income from continuing operations before equity method investments, income taxes: | 347 | 499 | 413 | 192 | 346 | 396 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (3) | 125 | (73) | |||||
| Income from continuing operations before income taxes: | 347 | 496 | 538 | 119 | 346 | 396 | ||
| Income tax expense (benefit) | (86) | (106) | (43) | (39) | (33) | 784 | ||
| Income from continuing operations: | 261 | 390 | 495 | 80 | 313 | 1,180 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 495 | 80 | 313 | 1,180 | |
| Net income attributable to parent: | 261 | 390 | 495 | 80 | 313 | 1,180 | ||
| Preferred stock dividends and other adjustments | (312) | (157) | (97) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | (184) | (280) | ||||||
| Net income (loss) available to common stockholders, diluted: | (51) | 49 | 118 | 80 | 313 | 1,180 | ||
Comprehensive Income ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 261 | 390 | 495 | 80 | 313 | 1,180 | ||
| Other comprehensive income (loss) | (39) | 40 | 125 | (259) | 57 | (165) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 222 | 430 | 620 | (179) | 370 | 1,015 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.