REPORTING SEGMENTS AND RELATED INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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

2023 Segment information
	Net sales						Year-end assets		Depreciation/ amortization		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	7,750	$	83	$	7,833	$	5,505	$	252	$	252
Drivetrain & Battery Systems	4,346		2		4,348		4,023		172		162
ePropulsion	2,102		64		2,166		3,185		127		384
Inter-segment eliminations	—		(149)		(149)		—		—		—
Total	14,198		—		14,198		12,713		551		798
Corporate2	—		—		—		1,740		31		34
Consolidated	$	14,198	$	—	$	14,198	$	14,453	$	582	$	832

2022 Segment information
	Net sales						Year-end assets		Depreciation/ amortization		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	7,076	$	61	$	7,137	$	5,329	$	243	$	187
Drivetrain & Battery Systems	3,753		(18)		3,735		3,963		166		166
ePropulsion	1,806		100		1,906		2,349		111		257
Inter-segment eliminations	—		(143)		(143)		—		—		—
Total	12,635		—		12,635		11,641		520		610
Corporate2	—		—		—		1,691		32		12
Consolidated	$	12,635	$	—	$	12,635	$	13,332	$	552	$	622

2021 Segment information
	Net sales						Year-end assets		Depreciation/ amortization		Long-lived asset expenditures1
(in millions)	Customers		Inter-segment		Net
Air Management	$	6,761	$	106	$	6,867	$	5,174	$	281	$	214
Drivetrain & Battery Systems	3,659		1		3,660		4,229		160		150
ePropulsion	1,383		44		1,427		1,828		102		113
Inter-segment eliminations	—		(151)		(151)		—		—		—
Total	11,803		—		11,803		11,231		543		477
Corporate2	—		—		—		1,656		31		37
Consolidated	$	11,803	$	—	$	11,803	$	12,887	$	574	$	514

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1 Long-lived asset expenditures include capital expenditures and tooling outlays.

2 Corporate assets include cash and cash equivalents, investments and long-term receivables, and deferred income taxes.

Segment Adjusted Operating Income (Loss)

	Year Ended December 31,
(in millions)	2023		2022		2021
Air Management	$	1,171	$	1,073	$	1,037
Drivetrain & Battery Systems	545		449		524
ePropulsion	(90)		(88)		(48)
Segment Adjusted Operating Income	1,626		1,434		1,513
Corporate, including stock-based compensation	278		282		234
Intangible asset amortization expense	67		69		59
Restructuring expense	79		48		108
Merger and acquisition expense, net	23		9		48
Asset impairments and lease modifications	29		30		—
(Gain) loss on sale of business	(5)		(13)		29
Gain on sale of assets	(13)		—		—
Other non-comparable items	8		—		(3)
Customer warranty settlement	—		—		124
Equity in affiliates' earnings, net of tax	(30)		(28)		(42)
Realized and unrealized loss on debt and equity securities	174		73		362
Interest expense, net	10		51		91
Other postretirement expense (income)	15		—		(7)
Earnings from continuing operations before income taxes and noncontrolling interest	$	991	$	913	$	510

Schedule of Revenue from External Customers and Long-lived Assets, by Geographical Areas

	Net sales						Long-lived assets
(in millions)	2023		2022		2021		2023		2022		2021
United States	$	2,334	$	2,143	$	2,125	$	778	$	469	$	489
Europe:
Germany	1,669		1,443		1,338		393		354		401
Poland	1,121		937		961		342		277		276
Hungary	904		636		469		167		170		193
Other Europe	1,386		1,056		1,023		456		327		289
Total Europe	5,080		4,072		3,791		1,358		1,128		1,159
China	2,998		2,864		2,958		876		821		776
Mexico	1,760		1,727		1,208		374		612		561
South Korea	1,163		1,073		1,117		197		205		239
Other foreign	863		756		604		200		191		164
Total	$	14,198	$	12,635	$	11,803	$	3,783	$	3,426	$	3,388