Note 21 - Equity Affiliates

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note 21. Equity Affiliates

We have a number of investments in entities that engage in the manufacture and supply of vehicular parts (primarily axles and driveshafts).

Dividends received from equity affiliates were $5, $3 and $3 in 2025, 2024 and 2023.

Equity method investments exceeding $5 at  December 31, 2025 —

	Ownership Percentage	Investment
Dongfeng Dana Axle Co., Ltd. (DDAC)	50%	$	62
ROC-Spicer, Ltd. (ROC-Spicer)	50%		23
Tai Ya Investment (HK) Co., Limited (Tai Ya)	50%		5
All others as a group			6
Investments in equity affiliates			96
Investments in affiliates carried at cost			6
Investments in affiliates		$	102

On April 25, 2025, we sold our 48% ownership interest in Axles India Limited for $43 in cash. The $19 pre-tax gain on the transaction is included in equity in earnings of affiliates.

On June 6, 2025, we sold our ownership interest in Switch Mobility Limited for $10. The $8 pre-tax loss on the transaction is included in other income (expense), net.

The carrying value of our equity method investments at December 31, 2025, was $5 more than our share of the affiliates' book values. The basis difference relate to our DDAC and ROC-Spicer investments and are primarily attributable to goodwill and property, plant and equipment.