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OTHER OPERATING EXPENSE, NET
 6 Months Ended
Jun. 30, 2025
Other Income and Expenses [Abstract]  
OTHER OPERATING EXPENSE, NET OTHER OPERATING EXPENSE, NET
Items included in Other operating expense, net consist of:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)
2025202420252024
Costs to exit charging business$4 $— $23 $— 
Chief Executive Officer ("CEO") transition compensation6 — 6 — 
Loss on sale of assets5 — 5 — 
Merger and acquisition expense, net— — 2 5 
Loss (gain) on sale of businesses— — 1 (3)
Adjustments associated with Spin-Off related balances2 11 (1)11 
Commercial contract settlement— 15 — 15 
Other income, net(3)(4)(5)(5)
Other operating expense, net$14 $22 $31 $23 

Costs to exit charging business: During the three and six months ended June 30, 2025, the Company recorded charges of $4 million and $23 million, respectively, related to the exit of its charging business within the Battery & Charging Systems reportable segment. Refer to Note 3, “Acquisitions and Dispositions,” and Note 11, “Goodwill And Other Intangibles,” to the Condensed Consolidated Financial Statements for more information.

Chief Executive Officer ("CEO") transition compensation: During the three months ended June 30, 2025, the Company recorded charges of $6 million related to duplicative compensation.

Loss on sale of assets: During the three months ended June 30, 2025, the Company recorded a loss of $5 million related to the sale of equipment from a closed facility in North America.

Merger and acquisition expense, net: During the six months ended June 30, 2025, the Company recorded merger and acquisition expense, net of $2 million, primarily related to professional fees associated with specific acquisition initiatives. During the six months ended June 30, 2024, the Company recorded merger and acquisition expense, net of $5 million, respectively, primarily related to professional fees associated with specific acquisition initiatives.

Adjustments associated with Spin-Off related balances: During the three and six months ended June 30, 2025, the Company recorded expense of $2 million and income of $1 million, respectively, primarily for adjustments to net amounts owed to the Company related to the tax matters agreement between the Company and PHINIA. During the three and six months ended June 30, 2024, the Company recorded $11 million primarily for adjustments to net amounts owed to the Company related to the tax matters agreement between the Company and PHINIA.

Commercial contract settlement: During the three months ended June 30, 2024, the Company recorded a loss of approximately $15 million related to the settlement of a commercial contract assumed in its 2023 acquisition of the electric hybrid systems business segment of Eldor Corporation.