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RESEARCH AND DEVELOPMENT COSTS
 9 Months Ended
Sep. 30, 2024
Research and Development [Abstract]  
RESEARCH AND DEVELOPMENT COSTS RESEARCH AND DEVELOPMENT COSTS
The Company’s net Research & Development (“R&D”) expenditures are included in Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. Customer reimbursements are netted against gross R&D expenditures as they are considered a recovery of cost. Customer reimbursements for prototypes are recorded net of prototype costs based on customer contracts, typically either when the prototype is shipped or when it is accepted by the customer. Customer reimbursements for engineering services are recorded when performance obligations are satisfied in accordance with the contract. Financial risks and rewards transfer upon shipment, acceptance of a prototype component by the customer or upon completion of the performance obligation, as stated in
the respective customer agreement. The Company has contracts with several customers relating to R&D activities that the Company performs at the Company’s various R&D locations.

The following table presents the Company’s gross and net expenditures on R&D activities:
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)
2024202320242023
Gross R&D expenditures$218 $215 $656 $625 
Customer reimbursements(28)(23)(90)(84)
Net R&D expenditures$190 $192 $566 $541