Revenue Disaggregation

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue Disaggregation

12. REVENUE DISAGGREGATION

The Company’s disaggregated revenue for the three months periods ended March 31, 2024 and 2023 were as follows (dollars in millions).

Net Sales by Products	Three Months Ended March 31,
	2024		2023
Airbags, Steering Wheels and Other1)	$	1,781	$	1,673
Seatbelt Products and Other1)		834		820
Total net sales	$	2,615	$	2,493
Net Sales by Region	Three Months Ended March 31,
	2024		2023
Americas	$	893	$	831
Europe		770		725
China		460		453
Asia excl. China		491		483
Total net sales	$	2,615	$	2,493

1) Including Corporate 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, 2024 were not material in any period.