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Commitments and Contingent Liabilities (Tables)
12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Summary of Recent Approximate Asbestos Claims Activity

A summary of recent approximate asbestos claims activity follows. Because claims are often filed and disposed of by dismissal or settlement in large numbers, the amount and timing of settlements and the number of open claims during a particular period can fluctuate significantly.

 

 

 

 

 

 

 

 

 

 

(Dollars in millions)

 

2022

 

 

2021

 

 

2020

 

Pending claims, beginning of year

 

 

38,200

 

 

 

38,700

 

 

 

39,600

 

New claims filed during the year

 

 

900

 

 

 

1,000

 

 

 

1,100

 

Claims settled/dismissed

 

 

(1,900

)

 

 

(1,500

)

 

 

(2,000

)

Pending claims, end of year

 

 

37,200

 

 

 

38,200

 

 

 

38,700

 

Payments(1)

 

$

16

 

 

$

15

 

 

$

13

 

 

(1)
Represents cash payments made during the period by us and our insurers on asbestos litigation defense and claim resolution.
Changes in the Warranty Reserve

The following table presents changes in the warranty reserve during 2022 and 2021:

 

 

 

 

 

 

 

(In millions)

 

2022

 

 

2021

 

Balance at January 1

 

$

37

 

 

$

22

 

Cooper Tire acquisition

 

 

 

 

 

15

 

Payments made during the period

 

 

(43

)

 

 

(29

)

Expense recorded during the period

 

 

35

 

 

 

29

 

Translation adjustment

 

 

(1

)

 

 

 

Balance at December 31

 

$

28

 

 

$

37