Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

19. Segment Information

The Company has one operating segment which includes Autoliv’s airbag and seatbelt products and components. The operating results of the operating segment are regularly reviewed by the Company’s chief operating decision maker to assess the performance of the operating segment and make decisions about resources to be allocated to the operating segment.

The Company’s customers consist of all major European, U.S. and Asian automobile manufacturers. Sales to individual customers representing 10% or more of net sales were:

In 2023: Renault 10% (including Nissan and Mitsubishi) and Stellantis 10%.

In 2022: Renault 11% (including Nissan and Mitsubishi), Stellantis 11% and VW 10%.

In 2021: Renault 13% (including Nissan and Mitsubishi), Stellantis 11% and VW 10%.

NET SALES BY REGION (Dollars in millions)	2023		2022		2021
China	$	2,105	$	1,883	$	1,766
Asia, excl. China		1,968		1,638		1,641
Americas		3,526		2,967		2,535
Europe		2,877		2,355		2,289
Total	$	10,475	$	8,842	$	8,230

The Company has attributed net sales to the geographic area based on the location of the entity selling the final product.

External sales in the U.S. amounted to $2,342 million, $2,029 million and $1,724 million in 2023, 2022 and 2021, respectively. Of the external sales, exports from the U.S. to other regions amounted to approximately $343 million, $298 million and $280 million in 2023, 2022 and 2021, respectively.

NET SALES BY PRODUCT (Dollars in millions)	2023		2022		2021
Airbag, Steering Wheels and Other1)	$	7,055	$	5,807	$	5,380
Seatbelt Products1)		3,420		3,035		2,850
Total net sales	$	10,475	$	8,842	$	8,230

1) Including Corporate and other sales.

LONG-LIVED ASSETS (Dollars in millions)	2023		2022
China	$	592	$	541
Asia, excl China		408		315
Americas		570		511
Europe		797		752
Total	$	2,367	$	2,119

Long -lived assets in the table above consists of Property, Plant and Equipment and Operating Lease right-of-use asset. Long-lived assets in the U.S. amounted to $261 million and $257 million for 2023 and 2022, respectively.