RELATED PARTY INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

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,
	2023		2022
	(in millions)
Net sales	$	—	$	—
Cost of goods sold	$	4	$	5
Selling, general and administrative expenses	$	12	$	13

	March 31, 2023		December 31, 2022
	(in millions)
Trade receivables	$	—	$	—
Trade payables	$	18	$	14

The transactions with Iveco Group post-Demerger are reflected in the Condensed Combined Financial Statements as follows:

	Three Months Ended March 31,
	2023		2022
	(in millions)
Net sales	$	20	$	—
Cost of goods sold	$	255	$	260

	March 31, 2023		December 31, 2022
	(in millions)
Trade receivables	$	18	$	21
Receivables from Iveco Group N.V.	$	255	$	298
Trade payables	$	221	$	184
Payables to Iveco Group N.V.	$	57	$	156

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,
	2023		2022
	(in millions)
Net sales	$	133	$	126
Cost of goods sold	$	150	$	121

	March 31, 2023		December 31, 2022
	(in millions)
Trade receivables	$	2	$	—
Trade payables	$	72	$	100