Segment Information

12 Months Ended

Dec. 31, 2019

Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's Chief Operating Decision Maker (CODM) in allocating resources and in assessing performance. The Company has two operating segments, Electronics and Brake Systems. Electronics includes all of electronics resources and expertise in passive safety electronics and active safety. The operating results of the operating segments are regularly reviewed by the Company’s CODM, the Chief Executive Officer, to assess the performance of the individual operating segments and make decisions about resources to be allocated to the operating segments.

The accounting policies for the reportable segments are the same as those described in the Note 2, Summary of Significant Accounting Policies to the consolidated financial statements.

Key financial measures reviewed by the Company’s CODM are as follows:


(Dollars in millions)	Year Ended December 31
(Loss)/Income Before Income Taxes	2019		2018		2017
Electronics	$	(324)	$	(116)	$	(14)
Brake Systems	(64)		(30)		(247)
Segment operating loss	(388)		(146)		(261)
Corporate and other	(72)		(51)		(22)
Interest and other non-operating items, net	9		7		(1)
Loss from equity method investment	(70)		(63)		(31)
Loss before income taxes	$	(521)	$	(253)	$	(314)


(Dollars in millions)	Year Ended December 31
Capital Expenditures	2019		2018		2017
Electronics	$	153	$	132	$	79
Brake Systems	60		56		31
Total capital expenditures	$	213	$	188	$	110


(Dollars in millions)	Year Ended December 31
Depreciation and Amortization	2019		2018		2017
Electronics	$	83	$	72	$	80


Brake Systems	32		38		39
Total depreciation and amortization	$	115	$	111	$	119


(Dollars in millions)	As of December 31
Segment Assets	2019		2018
Electronics	$	2,495	$	2,400
Brake Systems	526		507
Intersegment assets	(278)		(275)
Total assets	$	2,743	$	2,632

The Company’s customers consist of all major European, U.S. and Asian automobile manufacturers. Sales to individual customers representing 10% or more of net sales were:

In 2019: Customer A 23%, Customer B 16%, Customer C 11% and Customer D 10%

In 2018: Customer A 21%, Customer B 17% and Customer C 11% .

In 2017: Customer A 21%, Customer B 17%, Customer C 12% and Customer D 12%.


(Dollars in millions)	As of December 31
Long-lived Assets	2019		2018
Asia	$	133	$	283
Americas	457		368
Europe	504		438
Total	$	1,094	$	1,089

Long-lived assets in the U.S. amounted to $383 million and $315 million for 2019 and 2018, respectively. For 2019 and 2018 $115 million and $117 million, respectively, of the long-lived assets in the U.S. refer to intangible assets, principally from acquisition goodwill.