Related Party Transactions

6 Months Ended

Jun. 30, 2021

12. RELATED PARTY TRANSACTIONS

The Company purchases finished goods from Veoneer. For the three and six month periods ended June 30, 2021, related party purchases from Veoneer amounted to $20 million and $41 million, respectively. For the three and six month periods ended June 30, 2020, related party purchases from Veoneer amounted to $11 million and $29 million, respectively.

Amounts due to and due from related party as of June 30, 2021 and December 31, 2020 were as follows:


	As of
(Dollars in millions)	June 30, 2021		December 31, 2020
Related party receivables1)	$	1	$	2
Related party payables2)		26		27
Related party accrued expenses3)		8		10

1) Included in Receivables, net in the Condensed Consolidated Balance Sheet.

2) Included in Accounts payable in the Condensed Consolidated Balance Sheet.

3) Included in Accrued expenses in the Condensed Consolidated Balance Sheet.