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REPORTING SEGMENTS AND RELATED INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments:
2024 Segment information
Net salesYear-end assetsDepreciation/ amortization
Long-lived asset expenditures1
(in millions)CustomersInter-segmentNet
Turbos & Thermal Technologies$5,885 $2 $5,887 $3,693 $177 $170 
Drivetrain & Morse Systems5,564 13 5,577 3,872 246 115 
PowerDrive Systems1,908 29 1,937 2,792 164 291 
Battery & Charging Systems729 — 729 1,082 57 82 
Inter-segment eliminations— (44)(44)— — — 
Total14,086 — 14,086 11,439 644 658 
Corporate2
— — — 2,554 29 13 
Consolidated$14,086 $— $14,086 $13,993 $673 $671 
2023 Segment information
Net salesYear-end assetsDepreciation/ amortization
Long-lived asset expenditures1
(in millions)CustomersInter-segmentNet
Turbos & Thermal Technologies$6,007 $5 $6,012 $3,938 $170 $184 
Drivetrain & Morse Systems5,543 6 5,549 4,262 215 134 
PowerDrive Systems2,102 64 2,166 3,185 127 384 
Battery & Charging Systems546 — 546 1,335 39 96 
Inter-segment eliminations— (75)(75)— — — 
Total14,198 — 14,198 12,720 551 798 
Corporate2
— — — 1,733 31 34 
Consolidated$14,198 $— $14,198 $14,453 $582 $832 
2022 Segment information
Net salesYear-end assets Depreciation/ amortization
Long-lived asset expenditures1
(in millions)CustomersInter-segmentNet
Turbos & Thermal Technologies$5,468 $(13)$5,455 $3,882 $162 $129 
Drivetrain & Morse Systems5,027 1 5,028 4,240 218 167 
PowerDrive Systems1,806 100 1,906 2,349 111 257 
Battery & Charging Systems334 1 335 1,178 29 57 
Inter-segment eliminations— (89)(89)— — — 
Total12,635 — 12,635 11,649 520 610 
Corporate2
— — — 1,683 32 12 
Consolidated$12,635 $— $12,635 $13,332 $552 $622 
_______________
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.
The following tables show segment expenses for the Company’s reportable segments. These expenses do not include non-comparable items that are excluded in the calculation of Segment Adjusted Operating Income (Loss):
Segment Expenses
Year ended December 31, 2024
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging Systems
Net sales$5,887 $5,577 $1,937 $729 
Cost of sales4,724 4,413 1,648 681 
Selling, general and administrative expenses - R&D, net170 118 384 51 
Selling, general and administrative expenses - Other114 38 60 47 
Other segment items1
2 (2)(11)(3)
Segment Adjusted Operating Income (Loss)$877 $1,010 $(144)$(47)

Year ended December 31, 2023
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging Systems
Net sales$6,012 $5,549 $2,166 $546 
Cost of sales4,865 4,413 1,826 581 
Selling, general and administrative expenses - R&D, net175 122 362 44 
Selling, general and administrative expenses - Other100 49 73 40 
Other segment items1
(2)7 (5)(3)
Segment Adjusted Operating Income (Loss)$874 $958 $(90)$(116)
Year ended December 31, 2022
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging Systems
Net sales$5,455 $5,028 $1,906 $335 
Cost of sales4,392 4,045 1,558 327 
Selling, general and administrative expenses - R&D, net181 138 344 24 
Selling, general and administrative expenses - Other104 60 91 23 
Other segment items1
(5)2 1 5 
Segment Adjusted Operating Income (Loss)$783 $783 $(88)$(44)
_______________
1 Other segment items include other income and expenses to derive at segment adjusted operating income.
Schedule of Segment Reporting Information, by Segment
Segment Adjusted Operating Income (Loss)
Year Ended December 31,
(in millions)202420232022
Turbos & Thermal Technologies$877 $874 $783 
Drivetrain & Morse Systems1,010 958 783 
PowerDrive Systems(144)(90)(88)
Battery & Charging Systems(47)(116)(44)
Segment Adjusted Operating Income1,696 1,626 1,434 
Corporate, including stock-based compensation279 278 282 
Restructuring expense74 79 48 
Intangible asset amortization expense69 67 69 
Impairment charges646 29 30 
Accelerated depreciation50 4 — 
Change in accounting method(29)— — 
Adjustments associated with Spin-Off related balances17 — — 
Commercial contract settlement15 — — 
Loss (gain) on sale of businesses6 (5)(13)
Merger and acquisition expense, net2 23 9 
Loss (gain) on sale of assets2 (13)— 
Other non-comparable items19 4 — 
Equity in affiliates' earnings, net of tax(27)(30)(28)
Unrealized and realized loss on equity and debt securities1 174 73 
Interest expense, net20 10 51 
Other postretirement expense (income)13 15 — 
Earnings from continuing operations before income taxes and noncontrolling interest$539 $991 $913 
Schedule of Revenue from External Customers and Long-lived Assets, by Geographical Areas
 SalesProperty, plant and equipment
(in millions)202420232022202420232022
United States$2,240 $2,334 $2,143 $718 $778 $469 
Europe:   
Germany1,680 1,669 1,443 352 393 354 
Poland1,160 1,121 937 356 342 277 
Hungary820 904 636 154 167 170 
Other Europe1,586 1,387 1,057 472 456 327 
Total Europe5,246 5,081 4,073 1,334 1,358 1,128 
China2,862 2,998 2,864 720 876 821 
Mexico1,644 1,759 1,726 412 374 612 
South Korea1,181 1,163 1,073 189 197 205 
Other foreign913 863 756 202 200 191 
Total$14,086 $14,198 $12,635 $3,575 $3,783 $3,426