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RELATED PARTY INFORMATION (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2022202120222021
(in millions)(in millions)
Net sales$— $— $— $— 
Cost of goods sold$6 $10 $11 $18 
Selling, general and administrative expenses$12 $15 $25 $28 
June 30, 2022December 31, 2021
(in millions)
Trade receivables$— $— 
Trade payables$16 $20 
The transactions with Iveco Group post-Demerger are reflected in the Condensed Combined Financial Statements as follows:

Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(in millions)(in millions)
Net sales$21 $5 $21 $10 
Cost of goods sold$243 $258 $503 $489 
June 30, 2022December 31, 2021
(in millions)
Trade receivables$27 $87 
Receivables from Iveco Group N.V.$281 $— 
Trade payables$194 $181 
Payables to Iveco Group N.V.$73 $502 
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 June 30,Six Months Ended June 30,
2022202120222021
(in millions)(in millions)
Net sales$96 $99 $222 $212 
Cost of goods sold$123 $124 $244 $231 
June 30, 2022December 31, 2021
(in millions)
Trade receivables$— $— 
Trade payables$73 $101