RELATED PARTY INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Related Party Transactions [Abstract]

Summary of Related Party Transactions

These transactions with Stellantis are reflected in the Company’s consolidated financial statements as follows (in millions of dollars):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net sales	$	—	$	—	$	—	$	—
Cost of goods sold	1		3		7		14
Selling, general and administrative expenses	7		11		29		36

	September 30, 2023		December 31, 2022
Trade receivables	$	—	$	—
Trade payables	12		14

The transactions with Iveco Group post-Demerger are reflected in the consolidated financial statements as follows (in millions of dollars):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net sales	$	68	$	12	$	125	$	33
Cost of goods sold	274		218		808		721

	September 30, 2023		December 31, 2022
Trade receivables	$	24	$	21
Receivables from Iveco Group N.V.	229		298
Trade payables	206		184
Payables to Iveco Group N.V.	76		156

These transactions primarily affected revenues, finance and interest income, cost of goods sold, trade receivables and payables, and are presented as follows (in millions of dollars):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net sales	$	137	$	79	$	430	$	301
Cost of goods sold	171		138		497		382

	September 30, 2023		December 31, 2022
Trade receivables	$	1	$	—
Trade payables	91		100