RESTRUCTURING (Tables)

9 Months Ended

Sep. 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 September 30, 2024
(in millions)	Turbos & Thermal Technologies		Drivetrain & Morse Systems		PowerDrive Systems		Battery & Charging Systems		Corporate		Total
Employee termination benefits	$	7	$	1	$	—	$	—	$	—	$	8
Other	8		—		5		—		—		13
Total restructuring expense	$	15	$	1	$	5	$	—	$	—	$	21
	Three Months Ended September 30, 2023
(in millions)	Turbos & Thermal Technologies		Drivetrain & Morse Systems		PowerDrive Systems		Battery & Charging Systems		Corporate		Total
Employee termination benefits	$	53	$	1	$	—	$	—	$	—	$	54
Other	1		1		—		—		—		2
Total restructuring expense	$	54	$	2	$	—	$	—	$	—	$	56

	Nine Months Ended September 30, 2024
(in millions)	Turbos & Thermal Technologies		Drivetrain & Morse Systems		PowerDrive Systems		Battery & Charging Systems		Corporate		Total
Employee termination benefits	$	16	$	10	$	10	$	1	$	1	$	38
Other	14		1		12		—		—		27
Total restructuring expense	$	30	$	11	$	22	$	1	$	1	$	65
	Nine Months Ended September 30, 2023
(in millions)	Turbos & Thermal Technologies		Drivetrain & Morse Systems		PowerDrive Systems		Battery & Charging Systems		Corporate		Total
Employee termination benefits	$	60	$	3	$	—	$	—	$	—	$	63
Other	4		1		—		—		—		5
Total restructuring expense	$	64	$	4	$	—	$	—	$	—	$	68

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	38		27		65
Cash payments	(54)		(30)		(84)
Foreign currency translation adjustment and other	—		2		2
Balance at September 30, 2024	52		6		58
Less: Non-current restructuring liability	8		—		8
Current restructuring liability at September 30, 2024	$	44	$	6	$	50
(in millions)	Employee Termination Benefits		Other		Total
Balance at January 1, 2023	$	39	$	9	$	48
Restructuring expense, net	63		5		68
Cash payments	(32)		(9)		(41)
Foreign currency translation adjustment and other	(1)		2		1
Balance at September 30, 2023	69		7		76
Less: Non-current restructuring liability	7		—		7
Current restructuring liability at September 30, 2023	$	62	$	7	$	69