Revenue Disaggregation

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Disaggregation

12. REVENUE DISAGGREGATION

The Company’s disaggregated revenue for the three months period ended March 31, 2023 and 2022 were as follows (dollars in millions).

Net Sales by Products	Three Months Ended March 31,
	2023		2022
Airbags, Steering Wheels and Other1)	$	1,673	$	1,381
Seatbelt Products1)		820		744
Total net sales	$	2,493	$	2,124
Net Sales by Region	Three Months Ended March 31,
	2023		2022
China	$	453	$	447
Asia, excluding China		483		410
Americas		831		692
Europe		725		575
Total net sales	$	2,493	$	2,124

1) Including Corporate and other sales.

Contract Balances

Contract assets relate to the Company's rights to consideration for work completed but not billed (generally in conjunction with contracts for which revenue is recognized over time) at the reporting date on production parts and is included in Other current assets in the Condensed Consolidated Balance Sheet. The contract assets are reclassified into the receivables balance when the rights to receive payments become unconditional. The net change in the contract assets balance, reflecting the adjustments needed to align revenue recognition for work completed but not billed, for the three months period ended March 31, 2023 and March 31, 2022, were not material in any period.