Accrued Liabilities, Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

The components of Accrued liabilities are as follows (in millions):


	December 31,
	2023		2022
Unremitted cash collections due to banks on factored accounts receivable	$	112	$	130
Payroll and benefits	83		90
Settlement	45		180
Current portion of lease liabilities	42		37
Customer rebates	40		55
Incentive compensation	47		107
Warranty	27		26
Exit and restructuring	22		9
Freight and duty	10		19
Foreign exchange contracts	7		19
Other	69		72
Accrued liabilities	$	504	$	744

The following table is a summary of the Company’s accrued warranty obligations (in millions):


	Year Ended December 31,
Warranty Reserve	2023		2022		2021
Balance at the beginning of the year	$	26	$	26	$	24

Warranty expense	29		29		33
Warranties fulfilled	(28)		(29)		(31)
Balance at the end of the year	$	27	$	26	$	26