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REPORTABLE SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Net Sales and Expenses by Reporting Segment
The following tables show net sales, segment expenses, Segment Adjusted Operating Income (Loss) and other segment information for the Company’s reportable segments. The segment expenses do not include non-comparable items that are excluded in the calculation of Segment Adjusted Operating Income (Loss):

Net Sales and Expenses by Reportable Segment
Three Months Ended June 30, 2025
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging SystemsInter-segment eliminationsTotal
Net sales - customers$1,480 $1,424 $575 $159 $— $3,638 
Net sales - inter-segment1 5 6 — (12)— 
Net sales$1,481 $1,429 $581 $159 $(12)$3,638 
Cost of sales1,181 1,129 510 151 
Selling, general and administrative expenses - R&D, net44 32 93 10 
Selling, general and administrative expenses - Other28 8 15 9 
Other segment items1
1 — (4)1 
Segment Adjusted Operating Income (Loss)$227 $260 $(33)$(12)
Six Months Ended June 30, 2025
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging SystemsInter-segment eliminationsTotal
Net sales - customers$2,934 $2,780 $1,130 $309 $— $7,153 
Net sales - inter-segment1 10 12 — (23)— 
Net sales$2,935 $2,790 $1,142 $309 $(23)$7,153 
Cost of sales2,332 2,208 1,002 301 
Selling, general and administrative expenses - R&D, net85 61 192 21 
Selling, general and administrative expenses - Other55 18 29 20 
Other segment items1
1 — (5)1 
Segment Adjusted Operating Income (Loss)$462 $503 $(76)$(34)
Three Months Ended June 30, 2024
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging SystemsInter-segment eliminationsTotal
Net sales - customers$1,515 $1,440 $455 $193 $— $3,603 
Net sales - inter-segment— 2 9 — (11)— 
Net sales$1,515 $1,442 $464 $193 $(11)$3,603 
Cost of sales1,219 1,143 401 179 
Selling, general and administrative expenses - R&D, net43 25 103 12 
Selling, general and administrative expenses - Other28 9 10 11 
Other segment items1
1 (1)(1)1 
Segment Adjusted Operating Income (Loss)$224 $266 $(49)$(10)
Six Months Ended June 30, 2024
(in millions)Turbos & Thermal TechnologiesDrivetrain & Morse SystemsPowerDrive SystemsBattery & Charging SystemsInter-segment eliminationsTotal
Net sales - customers$3,087 $2,856 $885 $370 $— $7,198 
Net sales - inter-segment2 5 15 — (22)— 
Net sales$3,089 $2,861 $900 $370 $(22)$7,198 
Cost of sales2,494 2,267 787 350 
Selling, general and administrative expenses - R&D, net85 57 203 24 
Selling, general and administrative expenses - Other56 18 23 22 
Other segment items1
2 — (2)(1)
Segment Adjusted Operating Income (Loss)$452 $519 $(111)$(25)
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1 Other segment items include other income and expenses to derive at segment adjusted operating income.
Schedule of Segment Earnings Before Interest and Income Taxes
Segment Adjusted Operating Income (Loss)
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2025202420252024
Turbos & Thermal Technologies$227 $224 $462 $452 
Drivetrain & Morse Systems260 266 503 519 
PowerDrive Systems(33)(49)(76)(111)
Battery & Charging Systems(12)(10)(34)(25)
Segment Adjusted Operating Income442 431 855 835 
Corporate, including stock-based compensation69 55 130 120 
Restructuring expense (Note 5)17 25 48 44 
Impairment charges3 — 42 — 
Intangible asset amortization expense16 17 33 34 
Costs to exit charging business6 — 32 — 
Accelerated depreciation21 8 21 8 
Write-off of customer incentive asset7 — 7 — 
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)
Commercial contract settlement— 15 — 15 
Adjustments associated with Spin-Off related balances2 11 (1)11 
Other non-comparable items1 3 3 9 
Equity in affiliates’ earnings, net of tax(8)(12)(18)(17)
Unrealized (gain) loss on equity securities(1)— (1)2 
Interest expense, net12 8 24 13 
Other postretirement expense2 3 5 6 
Earnings from continuing operations before income taxes and noncontrolling interest$284 $298 $516 $588 
Segment information
Depreciation and amortization
Long-lived asset expenditures1
Total assets
(in millions)Three Months Ended June 30, 2025Three Months Ended June 30, 2024Three Months Ended June 30, 2025Three Months Ended June 30, 2024June 30, 2025December 31, 2024
Turbos & Thermal Technologies$42 $44 $28 $41 $3,935 $3,693 
Drivetrain & Morse Systems70 56 17 24 3,925 3,872 
PowerDrive Systems45 41 24 66 2,885 2,792 
Battery & Charging Systems15 11 4 29 1,038 1,082 
Total172 152 73 160 11,783 11,439 
Corporate2
7 8 4 5 2,616 2,554 
Consolidated$179 $160 $77 $165 $14,399 $13,993 
Depreciation and amortization
Long-lived asset expenditures1
Six Months Ended June 30, 2025Six Months Ended June 30, 2024Six Months Ended June 30, 2025Six Months Ended June 30, 2024
Turbos & Thermal Technologies$82 $87 $69 $81 
Drivetrain & Morse Systems119 108 41 59 
PowerDrive Systems88 77 68 154 
Battery & Charging Systems31 23 12 51 
Total320 295 190 345 
Corporate14 15 6 10 
Consolidated$334 $310 $196 $355 
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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.