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RELATED PARTY INFORMATION (Tables)
 3 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Summary of Related Party Transactions These transactions with Stellantis are reflected in the Company’s condensed consolidated financial statements as follows:
Three Months Ended March 31,
20222021
(in millions)
Net sales$— $— 
Cost of goods sold$5 $8 
Selling, general and administrative expenses$13 $13 
March 31, 2022December 31, 2021
(in millions)
Trade receivables$— $— 
Trade payables$18 $20 
The transactions with Iveco Group post-Demerger are reflected in the Condensed Combined Financial Statements as follows:

Three Months Ended March 31,
20222021
(in millions)
Net sales$— $5 
Cost of goods sold$260 $231 
March 31, 2022December 31, 2021
(in millions)
Trade receivables$18 $87 
Trade payables$194 $181 
These transactions primarily affected revenues, finance and interest income, cost of goods sold, trade receivables and payables and are presented as follows:
Three Months Ended March 31,
20222021
(in millions)
Net sales$126 $113 
Cost of goods sold$121 $107 
March 31, 2022December 31, 2021
(in millions)
Trade receivables$— $— 
Trade payables$63 $101