2021 Q4 Form 10-K Financial Statement

#000173570722000027 Filed on February 14, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $862.0M $839.0M $3.633B
YoY Change -14.48% 4.35% 19.74%
Cost Of Revenue $707.0M $676.0M $2.926B
YoY Change -14.82% 2.89% 17.27%
Gross Profit $155.0M $163.0M $707.0M
YoY Change -10.92% 10.88% 31.17%
Gross Profit Margin 17.98% 19.43% 19.46%
Selling, General & Admin $50.00M $60.00M $216.0M
YoY Change -19.35% -38.78% -16.92%
% of Gross Profit 32.26% 36.81% 30.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.00M $23.00M $92.00M
YoY Change -15.38% 0.0% 6.98%
% of Gross Profit 14.19% 14.11% 13.01%
Operating Expenses $50.00M $60.00M $216.0M
YoY Change -20.63% -38.78% -16.92%
Operating Profit $105.0M $103.0M $491.0M
YoY Change -5.41% 110.2% 75.99%
Interest Expense -$46.00M $25.00M $93.00M
YoY Change 100.0% 25.0% 17.72%
% of Operating Profit -43.81% 24.27% 18.94%
Other Income/Expense, Net $35.00M $4.000M $16.00M
YoY Change 12.9% -500.0% -57.89%
Pretax Income $89.00M $91.00M $538.0M
YoY Change 64.81% 810.0% 352.1%
Income Tax -$39.00M $28.00M $43.00M
% Of Pretax Income -43.82% 30.77% 7.99%
Net Earnings $128.0M $63.00M $495.0M
YoY Change 392.31% 472.73% 518.75%
Net Earnings / Revenue 14.85% 7.51% 13.63%
Basic Earnings Per Share $0.29 $0.09 $1.69
Diluted Earnings Per Share $0.29 $0.09 $1.56
COMMON SHARES
Basic Shares Outstanding 65.06M shares 65.06M shares 69.71M shares
Diluted Shares Outstanding 312.8M shares 317.5M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $423.0M $456.0M $423.0M
YoY Change -28.55% 46.15% -28.55%
Cash & Equivalents $423.0M $456.0M $423.0M
Short-Term Investments
Other Short-Term Assets $56.00M $56.00M $82.00M
YoY Change -49.09% -56.92% -56.61%
Inventory $244.0M $278.0M $244.0M
Prepaid Expenses $13.00M
Receivables $669.0M $670.0M $669.0M
Other Receivables $78.00M $71.00M $93.00M
Total Short-Term Assets $1.511B $1.609B $1.511B
YoY Change -19.58% 15.59% -19.58%
LONG-TERM ASSETS
Property, Plant & Equipment $485.0M $472.0M $536.0M
YoY Change -3.96% 1.51% -0.92%
Goodwill $193.0M $193.0M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $28.00M $31.00M $28.00M
YoY Change -6.67% -8.82% -6.67%
Other Assets $200.0M $159.0M $438.0M
YoY Change 48.15% 34.75% 17.11%
Total Long-Term Assets $1.195B $1.108B $1.195B
YoY Change 5.01% 3.07% 5.01%
TOTAL ASSETS
Total Short-Term Assets $1.511B $1.609B $1.511B
Total Long-Term Assets $1.195B $1.108B $1.195B
Total Assets $2.706B $2.717B $2.706B
YoY Change -10.31% 10.13% -10.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.006B $921.0M $1.006B
YoY Change -1.28% 99.78% -1.28%
Accrued Expenses $295.0M $325.0M $247.0M
YoY Change 21.9% 61.69% 21.67%
Deferred Revenue $5.000M $4.000M
YoY Change 150.0% 300.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due $7.000M $5.000M $7.000M
YoY Change
Total Short-Term Liabilities $1.508B $1.499B $1.508B
YoY Change -17.64% 45.25% -17.91%
LONG-TERM LIABILITIES
Long-Term Debt $1.181B $1.195B $1.376B
YoY Change 9.15% 14.35% 27.17%
Other Long-Term Liabilities $269.0M $286.0M $269.0M
YoY Change 124.17% 150.88% -88.81%
Total Long-Term Liabilities $1.450B $1.481B $1.645B
YoY Change 20.63% 27.78% -52.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.508B $1.499B $1.508B
Total Long-Term Liabilities $1.450B $1.481B $1.645B
Total Liabilities $3.174B $3.350B $3.174B
YoY Change -40.39% -28.16% -40.39%
SHAREHOLDERS EQUITY
Retained Earnings -$1.790B -$1.909B
YoY Change -18.89% -14.51%
Common Stock $0.00 $0.00
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$468.0M -$633.0M -$468.0M
YoY Change
Total Liabilities & Shareholders Equity $2.706B $2.717B $2.706B
YoY Change -10.31% 10.13% -10.31%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $128.0M $63.00M $495.0M
YoY Change 392.31% 472.73% 518.75%
Depreciation, Depletion And Amortization $22.00M $23.00M $92.00M
YoY Change -15.38% 0.0% 6.98%
Cash From Operating Activities $136.0M -$55.00M -$310.0M
YoY Change -15.53% 34.15% -1340.0%
INVESTING ACTIVITIES
Capital Expenditures $2.000M -$34.00M $72.00M
YoY Change -300.0% 112.5% -10.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$1.000M
YoY Change -100.0%
Cash From Investing Activities $2.000M -$34.00M -$71.00M
YoY Change -300.0% 126.67% -11.25%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net $4.000M $4.000M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -223.0M 3.000M $139.0M
YoY Change -217.37% -98.67% -73.77%
NET CHANGE
Cash From Operating Activities 136.0M -55.00M -$310.0M
Cash From Investing Activities 2.000M -34.00M -$71.00M
Cash From Financing Activities -223.0M 3.000M $139.0M
Net Change In Cash -85.00M -86.00M -$229.0M
YoY Change -124.29% -150.59% -145.26%
FREE CASH FLOW
Cash From Operating Activities $136.0M -$55.00M -$310.0M
Capital Expenditures $2.000M -$34.00M $72.00M
Free Cash Flow $134.0M -$21.00M -$382.0M
YoY Change -17.28% -16.0% 594.55%

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 1. Background and Basis of Presentation</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Background</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Garrett Motion Inc. (the “Company” or “Garrett”) designs, manufactures and sells highly engineered turbocharger and electric-boosting technologies for light and commercial vehicle original equipment manufacturers (“OEMs”) and the global vehicle independent aftermarket, as well as automotive software solutions. These OEMs in turn ship to consumers globally. We are a global technology leader with significant expertise in delivering products across gasoline, diesel, natural gas and electric (hybrid and fuel cell) power trains. These products are key enablers for fuel economy and emission standards compliance.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="text-align:justify;text-indent:21.6pt"><span><br/></span></div><div style="text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All amounts presented are in millions, except per share amounts. </span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying Consolidated Financial Statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. Our ability to continue as a going concern was contingent upon the Company’s ability to successfully implement a Plan of Reorganization in the Chapter 11 Cases, among other factors. As a result of the Chapter 11 Cases, the realization of assets and the satisfaction of liabilities were subject to uncertainty. While the Company was operating as debtors-in-possession under under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”), we sold or otherwise disposed of or liquidated assets or settled liabilities, with the approval of the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) or as otherwise permitted in the ordinary course of business, for amounts other than those reflected in our Consolidated Financial Statements. As a result of our improved liquidity (see Note 2, Plan of Reorganization; Note 16, Long-term Debt and Credit Agreements; Note 17, Mandatorily Redeemable Series B Preferred Stock; and Note 21, Equity), and removal of the risks and uncertainties surrounding the Chapter 11 Cases, substantial doubt no longer exists that we will be able to continue as a going concern.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon emergence from the Chapter 11 bankruptcy proceedings, the Company did not meet the requirements under Accounting Standards Codification </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(“ASC”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 852, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reorganizations (“ASC 852”)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for fresh start accounting. Fresh start accounting is applicable if both of the following criteria are met:</span></div><div style="margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:8.3pt">The reorganization value of the assets of the emerging entity immediately before the date of confirmation of the Plan of Reorganization is less than the total of all post-petition liabilities and allowed claims; and</span></div><div style="margin-top:10pt;padding-left:36pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii)</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:5.53pt">The holders of existing voting shares immediately before confirmation of the Plan of Reorganization receive less than 50% of the voting shares of the emerging entity.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the Company’s analysis, the Company was not required to apply fresh start accounting based on the provisions of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">ASC 852</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> since holders of the Company’s outstanding voting shares immediately before confirmation of the Plan received more than 50% of the Company’s outstanding voting shares upon emergence. Accordingly, a new reporting entity was not created for accounting purposes.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While the Company was a debtor-in-possession, it applied </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">ASC 852</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in preparing Consolidated Financial Statements. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">ASC 852</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> required the financial statements for periods subsequent to September 20, 2020 (the “Petition Date”) to distinguish transactions and events that were directly associated with the Company's reorganization from the ongoing operations of the business. Accordingly, revenues, expenses, realized gains and losses, and provisions for losses directly resulting from the reorganization and restructuring were reported separately as Reorganization items, net in the Consolidated Statements of Operations. In addition, the balance sheet distinguished pre-petition liabilities subject to compromise from those pre-petition liabilities that were not subject to compromise and post-petition liabilities. Pre-petition liabilities that were not fully secured or those that had at least a possibility of not being repaid at the allowed claim amount were classified as liabilities subject to compromise on the Consolidated Balance Sheet at December 31, 2020. At December 31, 2021 there were no such balances.</span></div>The preparation of the financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases these estimates on assumptions that it believes to be reasonable under the circumstances, including considerations for the impact of the outbreak of the novel coronavirus (“COVID-19”) pandemic on the Company's business due to various global macroeconomic, operational and supply-chain risks as a result of COVID-19. Actual results could differ from the original estimates, requiring adjustments to these balances in future periods.
CY2021Q2 gtx Payments For Cash Out Election
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CY2021Q2 us-gaap Deferred Finance Costs Net
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CY2021Q2 us-gaap Write Off Of Deferred Debt Issuance Cost
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CY2021 us-gaap Debtor Reorganization Items Gain Loss On Settlement Of Other Claims Net1
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502000000 USD
CY2020 us-gaap Debtor Reorganization Items Gain Loss On Settlement Of Other Claims Net1
DebtorReorganizationItemsGainLossOnSettlementOfOtherClaimsNet1
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CY2021 us-gaap Debtor Reorganization Items Legal And Advisory Professional Fees
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CY2020 us-gaap Debtor Reorganization Items Legal And Advisory Professional Fees
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CY2021 gtx Debtor Reorganization Items Bid Termination And Expense Reimbursement
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CY2020 gtx Debtor Reorganization Items Bid Termination And Expense Reimbursement
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CY2021 us-gaap Debtor Reorganization Items Employee Related Charges
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CY2020 us-gaap Debtor Reorganization Items Employee Related Charges
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CY2021 gtx Debtor Reorganization Items Expenses Related To Senior Notes
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28000000 USD
CY2020 gtx Debtor Reorganization Items Expenses Related To Senior Notes
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CY2021 us-gaap Debtor Reorganization Items Write Off Of Deferred Financing Costs And Debt Discounts
DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts
25000000 USD
CY2020 us-gaap Debtor Reorganization Items Write Off Of Deferred Financing Costs And Debt Discounts
DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts
6000000 USD
CY2021 gtx Debtor Reorganization Items Employee Stock Cash Out
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CY2020 gtx Debtor Reorganization Items Employee Stock Cash Out
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CY2021 us-gaap Debtor Reorganization Items Debtor In Possession Facility Financing Costs
DebtorReorganizationItemsDebtorInPossessionFacilityFinancingCosts
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CY2020 us-gaap Debtor Reorganization Items Debtor In Possession Facility Financing Costs
DebtorReorganizationItemsDebtorInPossessionFacilityFinancingCosts
13000000 USD
CY2021 us-gaap Debtor Reorganization Items Other Expense Income
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18000000 USD
CY2020 us-gaap Debtor Reorganization Items Other Expense Income
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CY2021 us-gaap Reorganization Items
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CY2020 us-gaap Reorganization Items
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CY2021Q4 gtx Accrued Post Petition Interest
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CY2020Q4 us-gaap Long Term Debt
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CY2021 gtx Increase Decrease In Accrued Interest And Unamortized Deferred Financing Cost
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CY2021 gtx Repayments Of Long Term Debt And Accrued Interest
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CY2021 gtx Exit Financing
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CY2021Q4 us-gaap Long Term Debt
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CY2021Q4 us-gaap Deferred Finance Costs Net
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CY2020Q4 us-gaap Liabilities Subject To Compromise
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CY2021 gtx Liabilities Subject To Compromise Change In Estimated Allowed Claims
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CY2021 gtx Liabilities Subject To Compromise Cash Payment
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CY2021 gtx Liabilities Subject To Compromise Issuance Of Series B Preferred Stock
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CY2021 gtx Liabilities Subject To Compromise Reinstatements
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262000000 USD
CY2021 gtx Liabilities Subject To Compromise Reorganization
LiabilitiesSubjectToCompromiseReorganization
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CY2021 gtx Liabilities Subject To Compromise Other Comprehensive Income
LiabilitiesSubjectToCompromiseOtherComprehensiveIncome
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CY2021Q4 us-gaap Liabilities Subject To Compromise
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CY2021 us-gaap Goodwill Impairment Loss
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CY2021 us-gaap Guarantees Indemnifications And Warranties Policies
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Warranties and Guarantees</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expected warranty costs for products sold are recognized based on an estimate of the amount that eventually will be required to settle such obligations. These accruals are based on factors such as past experience, length of the warranty and various other considerations. Costs of product recalls, which may include the cost of the product being replaced as well as the customer’s cost of the recall, including labor to remove and replace the recalled part, are accrued as part of our warranty accrual at the time an obligation becomes probable and can be reasonably estimated. These estimates are adjusted from time to time based on facts and circumstances that impact the status of existing claims. For additional information, see Note 25, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Commitments and Contingencies</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#231f20;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of the Notes to the Consolidated Financial Statements.</span></div>
CY2021 gtx Pension Benefits Net Actuarial Gain Losses Recognition Minimum Percentage Of Greater Of Fair Value Of Plan Assets Or Projected Benefit Obligation
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2021 us-gaap Use Of Estimates
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and related disclosures in the accompanying notes. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of changes are reflected in the Consolidated Financial Statements in the period they are determined to be necessary.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the filing of the Chapter 11 Cases on the Petition Date, the Consolidated Financial Statements included herein have been prepared in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic No. 852, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Reorganizations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. See Note 2, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Plan of Reorganization</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, of the Consolidated Financial Statements for further details.</span></div>
CY2020Q4 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Liability
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CY2021Q4 us-gaap Contract With Customer Liability
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CY2020 us-gaap Contract With Customer Asset Reclassified To Receivable
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CY2021 us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:10pt;text-align:justify;text-indent:21.6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain reclassifications have been made to prior year amounts to conform to current year classifications. Specifically certain items that had been previously recorded in selling, general and administrative expenses presented now within Cost of goods sold in our Consolidated Statements of Operations. Additionally, we reclassed a portion of our recorded obligations for product warranties and product performance guarantees from Accrued Liabilities to Other Liabilities. The reclassifications had no impact on net income, equity, or cash flows as previously reported.</span></div>
CY2020Q4 us-gaap Contract With Customer Asset Net
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CY2019Q4 us-gaap Contract With Customer Asset Net
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CY2021Q4 us-gaap Contract With Customer Asset Net
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CY2020Q4 us-gaap Contract With Customer Asset Net
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61000000 USD
CY2021 us-gaap Contract With Customer Asset Reclassified To Receivable
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CY2020Q4 us-gaap Contract With Customer Liability
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CY2021 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
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3000000 USD
CY2020 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
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P1Y
CY2021 gtx Revenue Contract With Customer Cash Advances And Unbilled Receivables Settlement Period
RevenueContractWithCustomerCashAdvancesAndUnbilledReceivablesSettlementPeriod
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CY2021 gtx Revenue Remaining Performance Obligation Minimum Expected Term Period To Disclose Value
RevenueRemainingPerformanceObligationMinimumExpectedTermPeriodToDiscloseValue
P1Y
CY2021 gtx Indemnification Related Post Spin Off
IndemnificationRelatedPostSpinOff
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CY2020 gtx Indemnification Related Post Spin Off
IndemnificationRelatedPostSpinOff
41000000 USD
CY2019 gtx Indemnification Related Post Spin Off
IndemnificationRelatedPostSpinOff
28000000 USD
CY2021 gtx Indemnification Related Litigation
IndemnificationRelatedLitigation
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CY2020 gtx Indemnification Related Litigation
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CY2019 gtx Indemnification Related Litigation
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11000000 USD
CY2021 us-gaap Environmental Remediation Expense
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CY2020 us-gaap Environmental Remediation Expense
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CY2019 us-gaap Environmental Remediation Expense
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CY2021 gtx Factoring And Notes Receivables Discount Fees
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CY2020 gtx Factoring And Notes Receivables Discount Fees
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CY2019 gtx Factoring And Notes Receivables Discount Fees
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CY2021 us-gaap Other Operating Income Expense Net
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CY2020 us-gaap Other Operating Income Expense Net
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CY2019 us-gaap Other Operating Income Expense Net
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CY2020 us-gaap Other Nonoperating Income Expense
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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119000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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346000000 USD
CY2021 gtx Equity Income Of Affiliated Companies
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CY2020 gtx Equity Income Of Affiliated Companies
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CY2019 gtx Equity Income Of Affiliated Companies
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CY2021 us-gaap Investment Income Interest
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CY2020 us-gaap Investment Income Interest
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CY2019 us-gaap Investment Income Interest
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CY2021 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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CY2020 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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5000000 USD
CY2019 us-gaap Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component
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8000000 USD
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2020 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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35000000 USD
CY2019 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2021 us-gaap Other Nonoperating Income Expense
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CY2019 us-gaap Other Nonoperating Income Expense
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CY2021 us-gaap Nonoperating Income Expense
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CY2020 us-gaap Nonoperating Income Expense
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CY2019 us-gaap Nonoperating Income Expense
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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206000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Current Federal Tax Expense Benefit
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CY2019 us-gaap Current Federal Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2020 us-gaap Current State And Local Tax Expense Benefit
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CY2019 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Current Foreign Tax Expense Benefit
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CY2020 us-gaap Current Foreign Tax Expense Benefit
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CY2019 us-gaap Current Foreign Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2020 us-gaap Current Income Tax Expense Benefit
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CY2019 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2020 gtx Effective Income Tax Rate Reconciliation Withholding And Other Taxes On Foreign Earnings Percent
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CY2019 gtx Effective Income Tax Rate Reconciliation Withholding And Other Taxes On Foreign Earnings Percent
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CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Percent
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0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Percent
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Percent
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2021 gtx Effective Income Tax Rate Reconciliation Withholding And Other Taxes On Foreign Earnings Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
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CY2021 gtx Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate Due To Internal Restructuring Percent
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021Q4 gtx Deferred Tax Assets Intangibles And Fixed Assets
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219000000 USD
CY2020Q4 gtx Deferred Tax Assets Intangibles And Fixed Assets
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202000000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
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CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Pensions
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18000000 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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39000000 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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