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Product-Related Liabilities (Tables)
6 Months Ended
Jun. 30, 2023
Product Warranties Disclosures [Abstract]  
Schedule of Change in Balance Sheet Position of Product-Related Liabilities

The table below summarizes the change in the balance sheet position of the product-related liabilities (dollars in millions). The reserve for product related liabilities is included in accrued expenses and Other non-current liabilities on the Condensed Consolidated Balance Sheets. A majority of the Company’s product-related liabilities as of June 30, 2023 are covered by insurance. Insurance receivables are included within Other current assets and Other non-current assets on the Condensed Consolidated Balance Sheets. As of June 30, 2023, the Company had total insurance receivables of $169 million.

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Reserve at beginning of the period

 

$

141

 

 

$

150

 

 

$

145

 

 

$

144

 

Change in reserve

 

 

42

 

 

 

2

 

 

 

43

 

 

 

12

 

Cash payments

 

 

(4

)

 

 

(5

)

 

 

(9

)

 

 

(8

)

Translation difference

 

 

(0

)

 

 

(2

)

 

 

(0

)

 

 

(2

)

Reserve at end of the period

 

$

178

 

 

$

145

 

 

$

178

 

 

$

145