Segments and Concentrations (Tables)

12 Months Ended

Dec. 31, 2024

Risks and Uncertainties [Abstract]

Summary of Net Sales by Region

Sales concentration — Net sales by region (determined based on country of shipment) and product line are as follows:

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
United States	$	700	$	744	$	694
Europe	1,642		1,874		1,734
Asia
China	643		768		701
Rest of Asia	413		433		401
Other International	77		67		73
	$	3,475	$	3,886	$	3,603

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
Diesel	$	827	$	992	$	949
Gas	1,505		1,720		1,485
Commercial Vehicle	629		656		673
Aftermarket	459		456		442
Other	55		62		54
	$	3,475	$	3,886	$	3,603

Summary of Net Sales to Largest Customer and Corresponding Percentage of Total Net Sales

Customer concentration — Net sales to Garrett’s largest customers and the corresponding percentage of total net sales are as follows:

	Net sales Year Ended December 31,
	2024		%	2023		%	2022		%
	(Dollars in millions)
Customer A	$	401	12	$	474	12	$	444	12
Customer B	354		10	364		9	350		10
Others (1)	2,720		78	3,048		79	2,809		78
	$	3,475	100	$	3,886	100	$	3,603	100

(1) No other customer had sales individually exceeding 10%.

Schedule of Segment Reporting Information, by Segment

The table below provides segment information about the Company:

	Year Ended December 31,
	2024		2023		2022
	(Dollars in millions)
Net sales	$	3,475	$	3,886	$	3,603
Less:
Material costs	2,022		2,323		2,142
Variable manufacturing costs (1)	386		417		414
Fixed manufacturing costs (2)	201		228		199
Research, development and engineering costs	161		163		165
Selling, general and administrative costs	240		247		216
Interest expense	156		159		8
Income tax expense	61		86		106
Other segment items (3)	(34)		2		(37)
Consolidated net income	$	282	$	261	$	390

(1)    Variable manufacturing costs include freight, duties, direct and indirect labor costs, repairs and maintenance, repositioning costs and variable overhead costs.

(2)     Fixed manufacturing costs include depreciation and amortization, rent, overhead labor costs, utilities and other fixed costs.

(3)     Other segment items consist of gain on sale of equity interest in unconsolidated joint venture, non-service components of net periodic expense, interest income, equity income, loss on extinguishment of debt, reorganization and other non-operating income items (if any).

Summary of Long-lived Assets by Region

Long-lived assets concentration — Long-lived assets (1) by region are as follows:

	December 31
	2024		2023
	(Dollars in millions)
United States	$	18	$	19
Europe
Slovakia	83		89
Romania	43		46
Rest of Europe	96		101
Asia
China	110		117
Rest of Asia	50		53
Other International	49		52
	$	449	$	477

(1)Long-lived assets are comprised of property, plant and equipment–net.