GOODWILL AND OTHER INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

A summary of the changes in the carrying amount of goodwill is presented in the following tables. The prior period balances have been recast for inter-segment transitions of certain businesses that were completed during 2022. Refer to Note 24, “Reportable Segments and Related Information” for more information.

	2023
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Total
Gross goodwill balance, January 1	$	1,566	$	1,434	$	480	$	3,480
Accumulated impairment losses, January 1	(502)		—		—		(502)
Net goodwill balance, January 1	$	1,064	$	1,434	$	480	$	2,978
Goodwill during the year:
Acquisitions1 (Note 2)	8		—		14		22
Measurement period adjustments (Note 2)	(6)		—		—		(6)
Other, primarily translation adjustment	11		21		(13)		19
Net goodwill balance, December 31	$	1,077	$	1,455	$	481	$	3,013

	2022
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Total
Gross goodwill balance, January 1	$	1,466	$	1,364	$	526	$	3,356
Accumulated impairment losses, January 1	(502)		—		—		(502)
Net goodwill balance, January 1	$	964	$	1,364	$	526	$	2,854
Goodwill during the year:
Acquisitions1 (Note 2)	126		132		—		258
Measurement period adjustments2	—		(20)		—		(20)
Other, primarily translation adjustment	(26)		(42)		(46)		(114)
Net goodwill balance, December 31	$	1,064	$	1,434	$	480	$	2,978

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1 Acquisitions relate to the Company’s 2023 purchases of SSE, Eldor, and 2022 purchases of Drivetek, Rhombus and Santroll.

2 Measurement period adjustments primarily relate to the 2023 acquisition of SSE and 2022 acquisition of Santroll.

Schedule of Intangible Assets Gross Roll Forward

The Company’s other intangible assets, primarily from acquisitions, consist of the following:

		December 31, 2023						December 31, 2022
(in millions)	Estimated useful lives (years)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Amortized intangible assets:
Patented and unpatented technology	5 - 15	$	364	$	145	$	219	$	349	$	111	$	238
Customer relationships	6 - 15	641		305		336		639		267		372
Miscellaneous	2 - 5	9		6		3		9		6		3
Total amortized intangible assets		1,014		456		558		997		384		613
Unamortized trade names		6		—		6		6		—		6
Total other intangible assets		$	1,020	$	456	$	564	$	1,003	$	384	$	619

A roll forward of the gross carrying amounts and related accumulated amortization of the Company’s other intangible assets is presented below:

	Gross carrying amounts				Accumulated amortization
(in millions)	2023		2022		2023		2022
Beginning balance, January 1	$	1,003	$	957	$	384	$	335
Acquisitions1 (Note 2)	14		132		—		—
Impairment2	—		(35)		—		(2)
Amortization	—		—		67		69
Translation adjustment	3		(51)		5		(18)
Ending balance, December 31	$	1,020	$	1,003	$	456	$	384

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1    Acquisitions relate to the Company’s 2023 purchases of SSE, Eldor, 2022 purchases of Drivetek, Rhombus and Santroll.

2    During the fourth quarter of 2022, the Company recorded an impairment charge of $30 million to remove the AKASOL indefinite-lived trade name as the Company no longer plans to utilize this trade name in the business.