RESTRUCTURING (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Expense by Reportable Segment

The following tables display the Company’s restructuring expense by reportable segment:

	Three Months Ended June 30, 2024
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Corporate		Total
Employee termination benefits	$	6	$	—	$	10	$	1	$	17
Other	4		—		4		—		8
Total restructuring expense	$	10	$	—	$	14	$	1	$	25
	Three Months Ended June 30, 2023
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Corporate		Total
Employee termination benefits	$	7	$	—	$	—	$	—	$	7
Other	2		—		—		—		2
Total restructuring expense	$	9	$	—	$	—	$	—	$	9

	Six Months Ended June 30, 2024
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Corporate		Total
Employee termination benefits	$	12	$	7	$	10	$	1	$	30
Other	7		—		7		—		14
Total restructuring expense	$	19	$	7	$	17	$	1	$	44
	Six Months Ended June 30, 2023
(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Corporate		Total
Employee termination benefits	$	9	$	—	$	—	$	—	$	9
Other	3		—		—		—		3
Total restructuring expense	$	12	$	—	$	—	$	—	$	12

Schedule of Restructuring Reserve of Roll Forward of the Restructuring Liability

The following tables display rollforwards of the restructuring liability recorded within the Company’s Condensed Consolidated Balance Sheets and the related cash flow activity:

(in millions)	Employee Termination Benefits		Other		Total
Balance at January 1, 2024	$	68	$	7	$	75
Restructuring expense, net	30		14		44
Cash payments	(21)		(14)		(35)
Foreign currency translation adjustment and other	(2)		—		(2)
Balance at June 30, 2024	75		7		82
Less: Non-current restructuring liability	8		—		8
Current restructuring liability at June 30, 2024	$	67	$	7	$	74
(in millions)	Employee Termination Benefits		Other		Total
Balance at January 1, 2023	$	39	$	9	$	48
Restructuring expense, net	9		3		12
Cash payments	(26)		(5)		(31)
Foreign currency translation adjustment and other	—		1		1
Balance at June 30, 2023	22		8		30
Less: Non-current restructuring liability	7		—		7
Current restructuring liability at June 30, 2023	$	15	$	8	$	23