Related Party Transactions

3 Months Ended

Mar. 31, 2021

17. Related Party Transactions

The following table summarizes the net sales, purchases, and royalty and other income (expense) to and from related parties for the three months ended March 31, 2021 and 2020:


	Three Months Ended March 31,
	2021						2020
	Net Sales		Purchases		Royalty and Other		Net Sales		Purchases		Royalty and Other
Anqing TP Goetze Piston Ring Company Limited	$	—	$	18	$	1	$	4	$	10	$	—
Anqing TP Powder Metallurgy Company Limited	$	1	$	—	$	—	$	1	$	1	$	—
Dongsuh Federal-Mogul Industrial Co., Ltd.	$	1	$	9	$	—	$	1	$	2	$	—
Federal-Mogul Powertrain Otomotiv A.S.	$	10	$	76	$	3	$	12	$	59	$	4
Federal-Mogul TP Liner Europe Otomotiv Ltd. Sti.	$	—	$	—	$	—	$	—	$	1	$	—
Federal-Mogul TP Liners, Inc.	$	4	$	12	$	—	$	4	$	12	$	—

Icahn Automotive Group LLC	$	31	$	—	$	1	$	33	$	—	$	1
Montagewerk Abgastechnik Emden GmbH	$	4	$	—	$	—	$	3	$	—	$	—
PSC Metals, Inc.	$	—	$	—	$	1	$	—	$	—	$	—

The following table is a summary of amounts due to and from the Company's related parties at March 31, 2021 and December 31, 2020:


	March 31, 2021				December 31, 2020
	Receivables		Payables and Accruals		Receivables		Payables and Accruals
Anqing TP Goetze Piston Ring Company Limited	$	2	$	27	$	3	$	26
Anqing TP Powder Metallurgy Company Limited	$	—	$	1	$	1	$	1
Dongsuh Federal-Mogul Industrial Co., Ltd.	$	1	$	10	$	—	$	3

Federal-Mogul Powertrain Otomotiv A.S.	$	7	$	38	$	10	$	49

Federal-Mogul TP Liners, Inc.	$	2	$	6	$	2	$	7
Icahn Automotive Group LLC	$	39	$	8	$	47	$	9
Montagewerk Abgastechnik Emden GmbH	$	2	$	—	$	1	$	—
PSC Metals, Inc.	$	1	$	—	$	—	$	—

Refer to Note 7, “Investment in Nonconsolidated Affiliates”, for further information for companies within the tables above that represent equity method investments.

Amounts presented as Icahn Automotive Group LLC represent the Company’s activities with IEH Auto Parts LLC and Pep Boys—Manny, Moe & Jack.

As part of the Federal-Mogul acquisition, the Company acquired a redeemable noncontrolling interest related to a subsidiary in India. In accordance with local regulations, the Company initiated a process to make a tender offer of the shares it did not own due to the change in control triggered by the Federal-Mogul acquisition. The Company entered into separate agreements with IEP subsequent to the purchase agreement whereby IEP agreed to fund and execute the tender offer for the shares on behalf of the Company. During the first quarter of 2020, the tender offer for the shares was completed. Since the transaction was funded and executed by IEP, the completion of the tender offer resulted in an adjustment to additional paid-in capital during the three months ended March 31, 2020. Immediately following the completion of the tender offer, the shares of this noncontrolling interest not owned by the Company were no longer redeemable, or probable of becoming redeemable; therefore, the noncontrolling interest was reclassified from temporary equity to permanent equity during the three months ended March 31, 2020. Refer to Note 2, “Summary of Significant Accounting Policies”, for further information on this noncontrolling interest.