Revenue Disaggregation

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue Disaggregation

12. REVENUE DISAGGREGATION

The Company’s disaggregated revenue for the three and nine months periods ended September 30, 2024 and September 30, 2023 were as follows (dollars in millions).

Net Sales by Products	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Airbags, Steering Wheels and Other1)	$	1,736	$	1,761	$	5,264	$	5,191
Seatbelt Products and Other1)		819		835		2,511		2,533
Total net sales	$	2,555	$	2,596	$	7,774	$	7,724
Net Sales by Region	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Americas	$	851	$	918	$	2,637	$	2,665
Europe		700		646		2,231		2,122
China		495		538		1,423		1,488
Asia excl. China		508		495		1,483		1,449
Total net sales	$	2,555	$	2,596	$	7,774	$	7,724

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 and nine months periods ended September 30, 2024 and September 30, 2023, were not material in any period.