REPORTABLE SEGMENTS AND RELATED INFORMATION (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Net Sales and Total Assets by Reporting Segment

The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments:

Net Sales by Reportable Segment

	Three Months Ended September 30, 2023						Nine Months Ended September 30, 2023
(in millions)	Customers		Inter-segment		Net		Customers		Inter-segment		Net
Air Management	$	1,922	$	23	$	1,945	$	5,888	$	63	$	5,951
Drivetrain & Battery Systems	1,144		1		1,145		3,216		2		3,218
ePropulsion	556		15		571		1,572		52		1,624
Inter-segment eliminations	—		(39)		(39)		—		(117)		(117)
Net sales	$	3,622	$	—	$	3,622	$	10,676	$	—	$	10,676

	Three Months Ended September 30, 2022						Nine Months Ended September 30, 2022
(in millions)	Customers		Inter-segment		Net		Customers		Inter-segment		Net
Air Management	$	1,827	$	16	$	1,843	$	5,283	$	45	$	5,328
Drivetrain & Battery Systems	954		—		954		2,745		—		2,745
ePropulsion	445		44		489		1,290		71		1,361
Inter-segment eliminations	—		(60)		(60)		—		(116)		(116)
Net sales	$	3,226	$	—	$	3,226	$	9,318	$	—	$	9,318

Total Assets of Continuing Operations by Reportable Segment

(in millions)	September 30, 2023		December 31, 2022
Air Management	$	5,559	$	5,329
Drivetrain & Battery Systems	3,954		3,963
ePropulsion	2,847		2,349
Total	12,360		11,641
Corporate	1,744		1,691
Consolidated	$	14,104	$	13,332

Schedule of Segment Earnings Before Interest and Income Taxes

Segment Adjusted Operating Income (Loss)

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2023		2022		2023		2022
Air Management	$	294	$	291	$	884	$	793
Drivetrain & Battery Systems	147		103		400		330
ePropulsion	(20)		(33)		(74)		(89)
Segment Adjusted Operating Income	421		361		1,210		1,034
Corporate, including stock-based compensation	72		61		194		198
Restructuring expense (Note 5)	56		5		68		42
Intangible asset amortization expense	17		16		51		52
Merger and acquisition expense, net	3		5		22		13
Service and lease agreement termination	—		—		9		—
Loss (gain) on sale of business	—		9		(5)		(15)
Gain on sale of assets	(7)		—		(13)		—
Other non-comparable items	8		—		5		—
Equity in affiliates’ earnings, net of tax	(10)		(5)		(23)		(21)
Realized and unrealized loss (gain) on debt and equity securities	60		(1)		129		27
Interest (income) expense, net	(19)		12		3		41
Other postretirement expense (income)	3		(1)		8		(2)
Earnings from continuing operations before income taxes and noncontrolling interest	238		260		762		699
Provision for income taxes	133		68		230		177
Net earnings from continuing operations	$	105	$	192	$	532	$	522