REPORTABLE SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Net Sales and Total Assets by Reporting Segment

The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments:

Net Sales by Reportable Segment

	Three Months Ended March 31, 2024
(in millions)	Customers		Inter-segment		Net
Air Management	$	2,008	$	22	$	2,030
Drivetrain & Battery Systems	1,157		2		1,159
ePropulsion	430		6		436
Inter-segment eliminations	—		(30)		(30)
Net sales	$	3,595	$	—	$	3,595

	Three Months Ended March 31, 2023
(in millions)	Customers		Inter-segment		Net
Air Management	$	1,960	$	19	$	1,979
Drivetrain & Battery Systems	955		1		956
ePropulsion	468		19		487
Inter-segment eliminations	—		(39)		(39)
Net sales	$	3,383	$	—	$	3,383

Schedule of Segment Earnings Before Interest and Income Taxes

Segment Adjusted Operating Income (Loss)

	Three Months Ended March 31,
(in millions)	2024		2023
Air Management	$	308	$	285
Drivetrain & Battery Systems	158		111
ePropulsion	(62)		(35)
Segment Adjusted Operating Income	404		361
Corporate, including stock-based compensation	65		61
Restructuring expense (Note 5)	19		3
Intangible asset amortization expense	17		17
Merger and acquisition expense, net	2		8
Other non-comparable items	6		(2)
Equity in affiliates’ earnings, net of tax	(5)		(1)
Unrealized loss on debt and equity securities	2		15
Interest expense, net	5		10
Other postretirement expense	3		2
Earnings from continuing operations before income taxes and noncontrolling interest	$	290	$	248