Visteon (VC) 10-K 20 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 08, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-15827
Entity Registrant Name	VISTEON CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-3519512
Entity Address, Address Line One	One Village Center Drive,
Entity Address, City or Town	Van Buren Township,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48111
City Area Code	800
Local Phone Number	VISTEON
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	VC
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	true
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 4
Entity Common Stock, Shares Outstanding		27,491,477
Amendment Flag	false
Entity Central Index Key	0001111335
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Documents Incorporated by Reference	Document Incorporated by Reference Document Where Incorporated 2024 Proxy Statement Part III (Items 10, 11, 12, 13 and 14)
Document Financial Statement Error Correction [Flag]	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor [Line Items]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Detroit, Michigan
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 3,954	$ 3,756	$ 2,773
Cost of sales	(3,467)	(3,388)	(2,519)
Gross margin	487	368	254
Selling, general and administrative expenses	(207)	(188)	(175)
Restructuring and impairment	(5)	(14)	(14)
Interest expense	(17)	(14)	(10)
Interest income	10	4	2
Equity in net (loss) income of non-consolidated affiliates	(10)	(1)	6
Other (loss) income, net	(1)	20	18
Income (loss) before income taxes	257	175	81
Benefit from (provision for) income taxes	248	(45)	(31)
Net income (loss)	505	130	50
Less: Net (income) loss attributable to non-controlling interests	(19)	(6)	(9)
Net income (loss) attributable to Visteon Corporation	$ 486	$ 124	$ 41
Basic earnings per share attributable to Visteon Corporation (in dollars per share)	$ 17.30	$ 4.41	$ 1.46
Diluted earnings per share attributable to Visteon Corporation (in dollars per share)	$ 17.05	$ 4.35	$ 1.44

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 505	$ 130	$ 50
Other comprehensive (loss) income
Foreign currency translation adjustments	15	(66)	(31)
Net investment hedge	(7)	8	19
Benefit plans, net of tax	(51)	56	84
Unrealized hedging gains (losses), net of tax	(1)	13	6
Other comprehensive income (loss), net of tax	(44)	11	78
Comprehensive income (loss)	461	141	128
Comprehensive income (loss) attributable to non-controlling interests	16	1	12
Comprehensive income (loss) attributable to Visteon Corporation	$ 445	$ 140	$ 116

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and equivalents	$ 515	$ 520
Restricted cash	3	3
Accounts receivable, net	666	672
Inventories, net	298	348
Other current assets	134	167
Total current assets	1,616	1,710
Property and equipment, net	418	364
Intangible assets, net	90	99
Right-of-use assets	109	124
Investments in non-consolidated affiliates	35	49
Deferred Tax Assets, Tax Deferred Expense	384	42
Other non-current assets	75	62
Total assets	2,727	2,450
LIABILITIES AND EQUITY
Short-term debt	18	13
Accounts payable	551	657
Accrued employee liabilities	99	90
Current lease liability	30	29
Other current liabilities	233	246
Total current liabilities	931	1,035
Long-term debt, net	318	336
Employee benefits	160	115
Non-current lease liability	79	99
Deferred Income Tax Liabilities, Net	31	27
Other non-current liabilities	85	64
Stockholders’ equity:
Preferred stock (par value $0.01, 50 million shares authorized, none outstanding as of December 31, 2023 and 2022)	0	0
Common stock (par value $0.01, 250 million shares authorized, 55 million shares issued, 27.7 and 28.2 million shares outstanding as of December 31, 2023 and December 31, 2022, respectively)	1	1
Additional paid-in capital	1,356	1,352
Retained earnings	2,274	1,788
Accumulated other comprehensive loss	(254)	(213)
Treasury stock	(2,339)	(2,253)
Total Visteon Corporation stockholders’ equity	1,038	675
Non-controlling interests	85	99
Total equity	1,123	774
Total liabilities and equity	$ 2,727	$ 2,450
Common stock, shares outstanding (in shares)	27.7	28.2

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	55,000,000	55,000,000
Common stock, shares outstanding (in shares)	27,700,000	28,200,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net income (loss)	$ 505	$ 130	$ 50
Adjustments to reconcile net income (loss) to net cash provided from operating activities:
Depreciation and amortization	104	108	108
Non-cash stock-based compensation	34	26	18
Equity in net income of non-consolidated affiliates, net of dividends remitted	15	4	12
Impairments	0	5	9
U.S. tax valuation allowance benefit	(313)	0	0
Other non-cash items	(6)	(1)	14
Changes in assets and liabilities:
Accounts receivable	13	(156)	(78)
Inventories	52	(105)	(92)
Accounts payable	(130)	146	28
Other assets and other liabilities	(7)	10	(11)
Net cash provided from operating activities	267	167	58
Investing Activities
Capital expenditures, including intangibles	(125)	(81)	(70)
Contributions to equity method investments	(1)	(3)	(5)
Net investment hedge transactions	0	12	4
Other, net	3	4	8
Net cash used by investing activities	(123)	(68)	(63)
Financing Activities
Borrowings on term debt facility	0	350	0
Payments on term debt facility	0	(350)	0
Short-term debt, net	0	(4)	4
Principal repayment of term debt facility	(13)	0	0
Dividends paid to non-controlling interests	(29)	(2)	(35)
Repurchase of common stock	(106)	0	0
Stock based compensation tax withholding payments	(16)	0	0
Proceeds from the exercise of stock options	8	0	0
Other	0	(3)	2
Net cash used by financing activities	(156)	(9)	(29)
Effect of exchange rate changes on cash	7	(22)	(11)
Net increase (decrease) in cash, equivalents, and restricted cash	(5)	68	(45)
Cash, equivalents, and restricted cash at beginning of the period	523	455	500
Cash, equivalents, and restricted cash at end of the period	518	523	455
Supplemental Disclosures:
Cash paid for interest, net	5	12	15
Cash paid for income taxes, net of refunds	$ 68	$ 29	$ 15

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Visteon Corporation Stockholders' Equity	Non-Controlling Interests	Treasury Stock, Common
Beginning Balance at Dec. 31, 2020	$ 510	$ 1	$ 1,348	$ 1,623	$ (304)	$ 387	$ 123	$ (2,281)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	50			41		41	9
Other comprehensive income (loss)	78				75	75	3
Stock-based compensation, net	13		1			13		12
Dividends to non-controlling interest	(35)						(35)
Ending Balance at Dec. 31, 2021	616	1	1,349	1,664	(229)	516	100	(2,269)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	130			124		124	6
Other comprehensive income (loss)	11				16	16	(5)
Stock-based compensation, net	19		3			19		16
Dividends to non-controlling interest	(2)						(2)
Ending Balance at Dec. 31, 2022	774	1	1,352	1,788	(213)	675	99	(2,253)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	505			486		486	19
Other comprehensive income (loss)	(44)				(41)	(41)	(3)
Stock-based compensation, net	25		4			25		21
Dividends to non-controlling interest	(30)						(30)
Ending Balance at Dec. 31, 2023	1,123	$ 1	$ 1,356	$ 2,274	$ (254)	1,038	$ 85	(2,339)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of common stock	$ (107)					$ (107)		$ (107)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation: Visteon Corporation (the "Company" or "Visteon") financial statements have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") on a going concern basis, which contemplates the continuity of operations, realization of assets, and satisfaction of liabilities in the normal course of business. Principles of Consolidation: The consolidated financial statements include the accounts of the Company and subsidiaries over which it exerts control. Investments in affiliates over which the Company does not exercise control, but does have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. All other investments are measured at cost, less impairment, with changes in fair value recognized in net income. The Company determines whether the joint venture in which it has invested is a Variable Interest Entity (“VIE”) at the start of each new venture and when a reconsideration event has occurred. An enterprise must consolidate a VIE if it is determined to be the primary beneficiary of the VIE. The primary beneficiary has both the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported herein. Considerable judgment is involved in making these determinations and the use of different estimates or assumptions could result in significantly different results. Management believes its assumptions and estimates are reasonable and appropriate. However, actual results could differ from those reported herein. Events and changes in circumstances arising after December 31, 2023 will be reflected in management's estimates for future periods. Foreign Currency: We translate the assets and liabilities of foreign subsidiaries to United States (U.S.) dollars at end-of-period exchange rates. We translate the income statement elements of foreign subsidiaries to U.S. dollars at average-period exchange rates. We report the effect of translation for foreign subsidiaries that use the local currency as their functional currency as a separate component of stockholders' equity. Gains and losses resulting from the remeasurement of assets and liabilities in a currency other than the functional currency of a subsidiary are reported in current period income. We also report any gains and losses arising from transactions denominated in a currency other than the functional currency of a subsidiary in current period Revenue Recognition: The Company generates revenue from the production of automotive vehicle cockpit electronics parts sold to Original Equipment Manufacturers ("OEMs") , or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements may also require related production for service parts subsequent to initial vehicle production periods. The Company’s contracts with customers involve various governing documents (sourcing agreements, master purchase agreements, terms and conditions agreements, etc.) which do not reach the level of a performance obligation of the Company until the Company receives either a purchase order and/or a customer release for a specific number of parts at a specified price, at which point the collective group of documents represent an enforceable contract. While the long-term supply agreements generally range from three to five years, customers make no commitments to volumes, and pricing or specifications can change prior to or during production. The Company recognizes revenue when control of the parts produced are transferred to the customer according to the terms of the contract, which is usually when the parts are shipped or delivered to the customer’s premises. Customers are generally invoiced upon shipment or delivery and payment generally occurs within 45 to 90 days and do not include significant financing components. Customers in China are often invoiced one month after shipment or delivery. Customer returns, when they occur, relate to quality rework issues and are not connected to any repurchase obligation of the Company. As of December 31, 2023, all unfulfilled performance obligations are expected to be fulfilled within the next twelve months. Revenue is measured based on the transaction price and the quantity of parts specified in a contract with a customer. Discrete price adjustments may occur during the vehicle production period in order for the Company to remain competitive with market prices or based on changes in product specifications. Some of these price adjustments are non-routine in nature and require estimation. In the event the Company concludes that a portion of the revenue for a given part may vary from the purchase order, the Company records consideration at the most likely amount to which the Company expects to be entitled based on historical experience and input from customer negotiations. The Company records such estimates within Net sales and Accounts receivable, net, within the Consolidated Statements of Operations and Consolidated Balance Sheets, respectively. The Company adjusts its pricing reserves at the earlier of when the most likely amount of consideration changes or when the consideration becomes fixed. In 2023, revenue recognized related to performance obligations satisfied in previous periods represented less than 1% of consolidated net sales. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Shipping and handling costs associated with outbound freight after control of the parts has transferred to a customer are accounted for as a fulfillment cost and are included in Cost of sales. Segment: The Company reports operating and financial results in a single segment based on the consolidated information used by management in evaluating the financial performance of our business and allocating resources. This single segment reflects the Company’s core business; Electronics. The Electronics segment provides vehicle cockpit electronics products to customers, including digital instrument clusters, domain controllers with integrated advanced driver assistance systems (“ADAS”), displays, Android-based infotainment systems, and battery management systems. As the Company has one reportable segment, net sales, total assets, depreciation, amortization and capital expenditures are equal to consolidated results. Restructuring Expense: Restructuring expense includes costs directly associated with exit or disposal activities. Such costs include employee severance and termination benefits, special termination benefits, contract termination fees and penalties, and other exit or disposal costs. In general, the Company records involuntary employee-related exit and disposal costs when there is a substantive plan for employee severance and related costs are probable and estimable. For one-time termination benefits (i.e., no substantive plan) and employee retention costs, expense is recorded when the employees are entitled to receive such benefits and the amount can be reasonably estimated. Contract termination fees and penalties and other exit and disposal costs are generally recorded when incurred. Debt Issuance Costs: The costs related to issuance or modification of long-term debt are deferred and amortized into interest expense over the life of each respective debt issue. Deferred amounts associated with debt extinguished prior to maturity are expensed upon extinguishment. Other Costs within Cost of Sales: Repair and maintenance costs, certain pre-production costs, and research and development expenses are expensed as incurred. Pre-production costs expensed represent engineering and development costs that are not contractually guaranteed for reimbursement by the customer. Research and development expenses include salary and related employee benefits, contractor fees, information technology, occupancy, telecommunications, depreciation, forward model program development, and advanced engineering activities. Research and development expenses were $210 million, $196 million, and $191 million in 2023, 2022 and 2021, respectively, which includes recoveries from customers of $120 million, $145 million and $134 million, respectively. Net Earnings (Loss) Per Share Attributable to Visteon: Basic earnings (loss) per share is calculated by dividing net income (loss) attributable to Visteon by the average number of shares of common stock outstanding. Diluted earnings (loss) per share is computed by dividing net income (loss) attributable to Visteon by the average number of common and potential dilutive common shares outstanding after deducting undistributed income allocated to participating securities. Performance based share units are considered contingently issuable shares and are included in the computation of diluted earnings per share if their conditions have been satisfied as if the reporting date was the end of the contingency period. Cash and Equivalents: The Company considers all highly liquid investments purchased with an original maturity of three months or less, including short-term time deposits, commercial paper, repurchase agreements, and money market funds to be cash and cash equivalents. As of December 31, 2023, the Company's cash balances are invested in a diversified portfolio of cash and highly liquid cash equivalents including money market funds and time deposits with highly rated banking institutions with maturities less than three months. The cost of such funds approximates fair value based on the nature of the investment. Restricted Cash: Restricted cash represents amounts designated for uses other than current operations and includes $2 million related to a Letter of Credit Facility, and $1 million related to cash collateral for other corporate purposes as of December 31, 2023 and 2022. Accounts Receivable: Accounts receivable are stated at the invoiced amount, less an allowance for doubtful accounts for estimated amounts not expected to be collected, and do not bear interest. The Company receives bank notes from certain customers in China to settle trade accounts receivable. The collection on such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. The Company has entered into arrangements with financial institutions to sell certain bank notes, generally maturing within nine months. Bank notes are sold with recourse but qualify as a sale as all rights to the notes have passed to the financial institution. The Company redeemed $272 million of China bank notes during the year ended December 31, 2023. Remaining amounts outstanding at third-party institutions related to sold bank notes will mature by June 30, 2024. Allowance for Doubtful Accounts: The Com pany establishes an allowance for doubtful accounts for accounts receivable based on the current expected credit loss impairment model (“CECL”). The Company applies a historical loss rate based on historic write-offs by region to aging categories. The historical loss rate will be adjusted for current conditions and reasonable and supportable forecasts of future losses, as necessary. The Company may also record a specific reserve for individual accounts when the Company becomes aware of specific customer circumstances, such as in the case of a bankruptcy filing or deterioration in the customer's operating results or financial position. The allowance for doubtful accounts related to accounts receivable and related activity are summarized below: December 31, (In millions) 2023 2022 2021 Balance at beginning of year $ 5 $ 4 $ 4 Provision 2 1 — Balance at end of year $ 7 $ 5 $ 4 Provision for estimated uncollectible accounts receivable are included in Selling, general and administrative expenses in the Company's Consolidated Statements of Operations. Inventories: Inventories are stated at the lower of cost, determined on a first-in, first-out (“FIFO”) basis, or net realizable value. Cost includes the cost of materials, direct labor, in-bound freight and the applicable share of manufacturing overhead. The cost of inventories is reduced for excess and obsolete inventories based on management’s review of on-hand inventories compared to historical and estimated future sales and usage. Product Tooling: Product tooling includes molds, dies, and other tools used in production of a specific part or parts of the same basic design owned either by the Company or its customers. Company owned tooling is capitalized and depreciated over the shorter of the expected useful life of the tooling or the term of the supply arrangement, generally not exceeding six years. The Company had receivables of $22 million and $20 million as of December 31, 2023 and 2022, respectively, related to product tools which will not be owned by the Company and for which there is a contractual agreement for reimbursement from the customer. Contractually Reimbursable Engineering Costs: Engineering, testing, and other costs incurred in the design and development of production parts are expensed as incurred, unless the cost reimbursement is contractually guaranteed in a customer contract, in which case costs are capitalized and subsequently reduced upon lump sum or piece price recoveries. Property and Equipment: Property and equipment is stated at cost or fair value for impaired assets. Property and equipment is depreciated using the straight-line method of depreciation over the related asset's estimated useful life. Asset impairment charges are recorded for assets held-in-use when events and circumstances indicate that such assets may not be recoverable and the undiscounted net cash flows estimated to be generated by those assets are less than their carrying amounts. If estimated future undiscounted cash flows are not sufficient to recover the carrying value of the assets, an impairment charge is recorded for the amount by which the carrying value of the assets exceeds fair value. Fair value is determined using appraisals, management estimates, or discounted cash flow calculations. For further detail on asset impairments see Note 3, "Restructuring and Impairments." Leases: The Company determines if an arrangement is a lease at contract inception. Right-of-use ("ROU") assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company's leases do not provide an implicit rate, the Company estimates the incremental borrowing rate to discount the lease payments based on information available at lease commencement. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expense is recognized on a straight-line basis over the lease term. The Company has lease agreements containing lease and non-lease components which are accounted for as a single lease component. Goodwill: The Company performs either a qualitative or quantitative assessment of goodwill for impairment on an annual basis. Goodwill impairment testing is performed at the reporting unit level. The qualitative assessment considers several factors at the reporting unit level including the excess of fair value over carrying value as of the last quantitative impairment test, the length of time since the last fair value measurement, the current carrying value, market and industry metrics, actual performance compared to forecast performance, and the Company's current outlook on the business. If the qualitative assessment indicates it is more likely than not that goodwill is impaired, the reporting unit is quantitatively tested for impairment. To quantitatively test goodwill for impairment, the fair value of the reporting unit is determined and compared to the carrying value. An impairment charge is recognized for the amount by which the reporting unit's carrying value exceeds its fair value. Intangible Assets: Definite-lived intangible assets are amortized over their estimated useful lives, and tested for impairment in accordance with the methodology discussed above under "Property and Equipment." Government Incentives: The Company receives certain incentives from governments primarily related to research and development programs. The Company records incentives in accordance with their purpose as a reduction of expense or an offset to the related property and equipment. The benefit is recorded when all conditions related to the incentive have been met or are expected to be met and there is reasonable assurance of their receipt. The Company recorded incentive benefits of less than $1 million and $1 million for the years ended December 31, 2023 and 2022, respectively, while also reported deferred income of $1 million and $2 million as of December 31, 2023 and 2022, respectively. Product Warranty and Recall: Amounts accrued for product warranty and recall claims are based on management’s best estimates of the amounts that will ultimately be required to settle such items. The Company’s estimates for product warranty and recall obligations are developed with support from its sales, engineering, quality, and legal functions and include consideration of contractual arrangements, past experience, current claims and related information, production changes, industry and regulatory developments and various other considerations. For further detail on warranty obligations see Note 18, "Commitments and Contingencies." Income Taxes: Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company records a valuation allowance to reduce deferred tax assets when it is more likely than not that such assets will not be realized. This assessment requires significant judgment, and must be done on a jurisdiction-by-jurisdiction basis. The Company monitors the realizability of its deferred tax assets taking into account all relevant factors at each reporting period. In determining the need for a valuation allowance, all available positive and negative evidence, including historical and projected financial performance, is considered along with any other pertinent information. The Company valuation allowance assessment is based on its best estimate of future results considering all available information. The Company operates in multiple jurisdictions throughout the world and the income tax returns of its subsidiaries in various tax jurisdictions are subject to periodic examination by respective tax authorities. The Company regularly assesses the status of these examinations and the potential for adverse and/or favorable outcomes to determine the adequacy of its provision for income taxes. The Company believes that it has adequately provided for tax adjustments that it believes are more likely than not to be realized as a result of any ongoing or future examination. Accounting estimates associated with uncertain tax positions requires the Company to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If the Company determines it is more likely than not a tax position will be sustained based on its technical merits, the Company records the largest amount that is greater than 50% likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. Due to the complexity of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company's current estimate of the liabilities recorded. Accrued interest and penalties related to unrecognized tax benefits are classified as income tax expense. Value Added Taxes: The Company reports value added taxes collected from customers and remitted to government authorities, on a net basis within Cost of sales. Financial Instruments: The Company uses derivative financial instruments, including forward contracts, swaps, and options to manage exposures to changes in currency exchange rates and interest rates. The Company's policy specifically prohibits the use of derivatives for speculative or trading purposes.

Non-Consolidated Affiliates

Non-Consolidated Affiliates	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Non-Consolidated Affiliates	Non-Consolidated Affiliates A summary of the Company's investments in non-consolidated equity method affiliates is provided below: December 31, (In millions) 2023 2022 Yanfeng Visteon Investment Co., Ltd. ("YFVIC") (50%) $ 8 $ 25 Limited partnerships 15 13 Others 12 11 Total investments in non-consolidated affiliates $ 35 $ 49 Investments in Affiliates The Company recorded equity in the net loss of non-consolidated affiliates of $10 million and $1 million for the year ended December 31, 2023 and 2022, respectively. The Company recorded equity in the net income of non-consolidated affiliates of $6 million for the year ended December 31, 2021. The Company monitors its investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis. If the Company determines that an other-than-temporary decline in value has occurred, an impairment loss will be recorded, which is measured as the difference between the recorded book value and the fair value of the investment. As of December 31, 2023, the Company determined that no such indicators were present. Non-Consolidated Affiliate Transactions In 2018, the Company committed to make a $15 million investment in two entities principally focused on the automotive sector pursuant to limited partnership agreements. As a limited partner in each entity, the Company will periodically make capital contributions toward this total commitment amount. Through December 31, 2023, the Company had contributed approximately $12 million to these entities. These investments are classified as equity method investments. In 2022, the Company made an investment in a private limited company focused on technology development for the automotive industry of $1 million. There have been no further contributions as of December 31, 2023. Variable Interest Entities The Company determined that its 50% investment in YFVIC is a VIE. The Company holds a variable interest in YFVIC primarily related to its ownership interests and subordinated financial support. The Company and Yangfeng Automotive Trim Systems Co. Ltd., ("YF") each own 50% of YFVIC and neither entity has the power to control the operations of YFVIC; therefore, the Company is not the primary beneficiary of YFVIC and does not consolidate the joint venture. A summary of transactions with affiliates is shown below: Year Ended December 31, (In millions) 2023 2022 Billings to affiliates (a) $ 45 $ 72 Purchases from affiliates (b) $ 62 $ 78 (a) Primarily relates to parts production and engineering reimbursement (b) Primarily relates to engineering services as well as selling, general and administrative expenses A summary of the Company's investments in YFVIC is provided below: December 31, (In millions) 2023 2022 Payables due to YFVIC $ 24 $ 38 Exposure to loss in YFVIC Investment in YFVIC $ 8 $ 25 Receivables due from YFVIC 19 48 Maximum exposure to loss in YFVIC $ 27 $ 73 During the fourth quarter of 2022 the Company incurred approximately $19 million of charges related to program management costs and other charges associated with a joint venture. This charge is recorded within Cost of sales. The Company recorded a $9 million settlement charge related to a one-time contract dispute with a joint venture partner during the second quarter 2022. This charge is recorded within Cost of sales.

Restructuring Activities

Restructuring Activities	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring and Impairments Given the economically-sensitive and highly competitive nature of the automotive electronics industry, the Company continues to closely monitor current market factors and industry trends taking action as necessary which may include restructuring actions. However, there can be no assurance that any such actions will be sufficient to fully offset the impact of adverse factors on the Company or its results of operations, financial position, and cash flows. During the year ended December 31, 2023 2022, and 2021, the Company recorded $5 million, $9 million, and $5 million, respectively, of net restructuring expense primarily related to employee severance. Current restructuring actions include the following: • During 2023, the Company approved and recorded $5 million of net restructuring expense globally to improve efficiencies and rationalize the Company's footprint. As of December 31, 2023, $3 million remains accrued related to these actions. • During prior periods the Company approved various restructuring programs to improve efficiencies across the organization. As of December 31, 2023, $2 million remains accrued related to these programs. • As of December 31, 2023, the Company retained restructuring reserves as part of the Company's divestiture of the majority of its global Interiors business (the "Interiors Divestiture") and legacy operations of $3 million associated with completed programs for the fundamental reorganization of operations at facilities in Brazil and France. Restructuring Reserves Restructuring reserve balances of $5 million and $3 million as of December 31, 2023 are classified as Other current liabilities and Other non-current liabilities, respectively. Restructuring reserve balances of $6 million and $5 million as of December 31, 2022 are classified as Other current liabilities and Other non-current liabilities, respectively. The Company’s consolidated restructuring reserves and related activity are summarized below, including amounts associated with discontinued operations. (In millions) December 31, 2020 $ 49 Expense 4 Change in estimates 1 Utilization (34) Foreign currency (2) December 31, 2021 $ 18 Expense 6 Change in estimates 3 Utilization (15) Foreign currency (1) December 31, 2022 $ 11 Expense 6 Change in estimates (1) Utilization (8) Foreign currency $ — December 31, 2023 $ 8 Impairments The Company evaluates its long-lived assets for impairment whenever events or circumstances indicate the value of these long-lived asset groups are not recoverable. In 2022, due to the geopolitical situation in Eastern Europe the Company elected to close the Russian facility resulting in a non-cash impairment charge of $5 million to fully impair property and equipment and reduce inventory to its net realizable value . Additionally, as a result of the closure, during the fourth quarter of 2022, the Company recorded expense of approximately $3 million related to foreign currency translation amounts recorded in accumulated other comprehensive loss. During 2021, the Company concluded impairment triggers had occurred for a long-lived asset group in Brazil due to rising costs and deteriorating business conditions. The Company determined the cash flows related to certain long-lived assets were not sufficient to recover the carrying value. As such, the Company estimated the fair values of this asset group at December 31, 2021 and compared the fair value to its net carrying value. As the net carrying value of the long-lived asset group exceeded the fair value, the Company recorded a non-cash impairment charge of $9 million to write-down property and equipment to its fair value as of December 31, 2021.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, net consist of the following components: December 31, (In millions) 2023 2022 Raw materials $ 229 $ 291 Work-in-process 32 26 Finished products 37 31 $ 298 $ 348

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Other Assets	Other Assets Other current assets are comprised of the following components: December 31, (In millions) 2023 2022 Recoverable taxes $ 51 $ 55 Contractually reimbursable engineering costs 33 35 Prepaid assets and deposits 24 18 Joint venture receivables 19 49 Contractual payments 3 — Other 4 10 $ 134 $ 167 Other non-current assets are comprised of the following components: December 31, (In millions) 2023 2022 Contractual payments $ 22 $ 5 Contractually reimbursable engineering costs 21 25 Recoverable taxes 10 11 Other 22 21 $ 75 $ 62 Current and non-current contractually reimbursable engineering costs are related to pre-production design and development costs incurred pursuant to long-term supply arrangements that are contractually guaranteed for reimbursement by customers. The Company expects to receive cash reimbursement payments of approximately $33 million in 2024, $15 million in 2025, $5 million in 2026, $1 million in 2027 and less than $1 million in 2028 and beyond.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following: December 31, (In millions) Estimated Useful Life (years) 2023 2022 Land $ 9 $ 9 Buildings and improvements 40 95 88 Machinery, equipment and other 3-15 772 713 Product tooling 3-5 86 72 Construction in progress 83 52 Total property and equipment 1,045 934 Accumulated depreciation and amortization (627) (570) Property and equipment, net $ 418 $ 364 Depreciation and product tooling amortization expenses are summarized as follows: Year Ended December 31, (In millions) 2023 2022 2021 Depreciation $ 77 $ 83 $ 88 Amortization 7 7 6 $ 84 $ 90 $ 94 The net book value of capitalized internal use software costs was approximately $8 million as of December 31, 2023 and 2022. Related amortization expense was approximately $3 million, $5 million and $8 million for the years ended 2023, 2022 and 2021, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: December 31, 2023 December 31, 2022 (In millions) Estimated Useful Life Estimated Weighted Average Remaining Useful Life (years) Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles Definite-Lived: Developed technology 10-12 years 4 $ 40 $ (39) $ 1 $ 40 $ (39) $ 1 Customer related 7-12 years 3 86 (83) 3 88 (77) 11 Capitalized software development 3-5 years 3 52 (24) 28 50 (16) 34 Other 10 26 (12) 14 17 (9) 8 Subtotal 204 (158) 46 195 (141) 54 Indefinite-Lived: Goodwill 44 — 44 45 — 45 Total $ 248 $ (158) $ 90 $ 240 $ (141) $ 99 Capitalized software development consists of software development costs intended for integration into customer products. The Company recorded amortization expense of approximately $19 million, $18 million, and $14 million for the years ended December 31, 2023, 2022, and 2021, respectively, related to definite-lived intangible assets. The Company currently estimates annual amortization expense to be as follows: (In millions) 2024 $ 12 2025 12 2026 10 2027 6 2028 1

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases The Company has operating leases primarily for corporate offices, technical and engineering centers, plants, vehicles, and certain equipment. As of December 31, 2023 and 2022 the Company had $7 million of net assets recorded under finance leasing arrangements. Certain of the Company's lease agreements include rental payments adjusted periodically primarily for inflation. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company subleases certain real estate to third parties, which primarily consists of operating leases in the United States, Germany, and Brazil. For the years ended December 31, 2023 and 2022, the weighted average remaining lease term and discount rate were 4 years and 4.14% and 5 years and 4.03%, respectively. The components of lease expense are as follows: Year Ended December 31, (In millions) 2023 2022 2021 Operating lease expense (includes immaterial variable lease costs) $ (38) $ (36) $ (42) Short-term lease expense (2) (1) (1) Sublease income 2 2 5 Total lease expense $ (38) $ (35) $ (38) Other information related to leases is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Cash flows used for operating leases $ 36 $ 33 $ 37 Right-of-use assets obtained in exchange for lease obligations $ 11 $ 17 $ 6 Future minimum lease payments under non-cancellable leases are as follows: (In millions) 2024 $ 34 2025 30 2026 23 2027 12 2028 6 2029 and thereafter 16 Total future minimum lease payments 121 Less imputed interest (12) Total lease liabilities $ 109

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other current liabilities are summarized as follows: December 31, (In millions) 2023 2022 Deferred income $ 57 $ 55 Product warranty and recall 48 31 Joint venture payables 25 39 Non-income taxes payable 25 35 Income taxes payable 25 22 Royalty reserves 16 14 Restructuring reserves 5 6 Other 32 44 $ 233 $ 246 Other non-current liabilities are summarized as follows: December 31, (In millions) 2023 2022 Product warranty and recall accruals $ 23 $ 20 Deferred income 12 14 Income tax reserves 12 7 Derivative financial instruments 9 2 Restructuring reserves 3 5 Other 26 16 $ 85 $ 64

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt The Company’s short and long-term debt consists of the following: Weighted Average Carrying Value (In millions) 2023 2022 2023 2022 Short-Term Debt: Current portion of long-term debt 6.53% 5.16% $ 18 $ 13 Long-Term Debt: Term facility, net 6.53% 5.16% $ 318 $ 336 As of December 19, 2019, the Company's credit agreement ("Credit Agreement") includes a $350 million Term Facility and a $400 million Revolving Credit Facility. On July 19, 2022, the Company entered into a new amendment to the Credit Agreement to, among other things, extend the maturity dates of both facilities. The amended Revolving Credit Facility and Term Facility mature on July 19, 2027. The amendment changed the method the Term Loan and Revolving Credit Facility accrue interest from a LIBOR-based rate to a Secured Overnight Financing Rate ("SOFR") based rate. On June 28, 2023, the Company amended the existing Credit Agreement to, among other things, amend certain affirmative and negative covenants. In connection with amending both the Term Facility and Revolving Credit Facility, the Company recorded $1 million of interest expense due to the write-off of deferred debt fees. The Company also deferred $2 million of costs as a non-current asset related the Revolving Credit Facility and $1 million of costs related to the Term Loan recorded in Long-term debt, net. The deferred costs will be amortized over the term of the debt facilities. Short-Term Debt Terms of the amended credit facility require a quarterly principal payment equal to 1.25% of the original term debt balance. As of December 31, 2023, the Company has no other short-term borrowings, including at the Company's subsidiaries. The Company's subsidiaries have access to $151 million of capacity under short-term credit facilities. Long-Term Debt The Company has no outstanding borrowings on the Revolving Credit Facility as of December 31, 2023 and 2022. Interest on the Term Facility loans a nd Revolving Credit Facility accrue interest at a rate equal to a SOFR-based rate plus an applicable margin of between 1.00% and 1.75%, as determined by the Company's total gross leverage ratio. The Company can benefit from a 5 basis point decrease to the applicable margin due to a sustainability-linked pricing provision based on the Company's annual performance on reducing GHG emissions. The Credit Agreement requires compliance with customary affirmative and negative covenants and contains customary events of default. The Revolving Credit Facility also requires that the Company maintain a total net leverage ratio no greater than 3.50:1.00. During any period when the Company’s corporate and family ratings meet investment grade ratings, certain of the negative covenants are suspended. The Revolving Credit Facility also provides $75 million availability for the issuance of letters of credit and a maximum of $20 million for swing line borrowings. Any amount of the facility utilized for letters of credit or swing line loans outstanding will reduce the amount available under the existing Revolving Credit Facility. The Company may request increases in the limits under the Credit Agreement and may request the addition of one or more term loan facilities. Outstanding borrowings may be prepaid without penalty (other than borrowings made for the purpose of reducing the effective interest rate margin or weighted average yield of the loans). There are mandatory prepayments of principal in connection with: (i) certain asset sales or other dispositions, (ii) certain refinancing of indebtedness and (iii) over-advances under the Revolving Credit Facility. All obligations under the Credit Agreement and obligations with respect to certain cash management services and swap transaction agreements between the Company and its lenders are unconditionally guaranteed by certain of the Company’s subsidiaries. Under the terms of the Credit Agreement, any amounts outstanding are secured by a first-priority perfected lien on substantially all property of the Company and the subsidiaries party to the security agreement, subject to certain limitations. The principal maturities of long-term debt as of December 31, 2023 is as follows: (In millions) 2024 $ 18 2025 18 2026 18 2027 283 Other The Company has a $4 million letter of credit facility, whereby the Company is required to maintain a cash collateral account equal to 103% (110% for non-U.S. dollar denominated letters) of the aggregate stated amount of issued letters of credit and must reimburse any amounts drawn under issued letters of credit. The Company had $2 million of outstanding letters of credit issued under this facility secured by restricted cash, as of December 31, 2023 and 2022. Additionally, the Company had $2 million and $3 million of locally issued bank guarantees and letters of credit as of December 31, 2023 and 2022, respectively, to support various tax appeals, customs arrangements and other obligations at its local affiliates.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Defined Benefit Plans The Company sponsors pay related benefit plans for employees in the U.S., UK, Germany, Brazil, France, Mexico, Japan, and Canada. Employees in the U.S. and UK are no longer accruing benefits under the Company's defined benefit plans as these plans were frozen. The Company’s defined benefit plans are partially funded with the exception of certain supplemental benefit plans for executives and certain non-U.S. plans, primarily in Germany, which are unfunded. The Company's expense for all defined benefit pension plans, is as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions, except percentages) 2023 2022 2021 2023 2022 2021 Costs Recognized in Income: Pension service cost: Service cost $ — $ — $ — $ (1) $ (1) $ (1) Pension financing benefit (cost): Interest cost (32) (20) (17) (10) (6) (5) Expected return on plan assets 41 39 37 10 9 8 Amortization of losses and other 1 (1) (3) 1 (1) (2) Settlements and curtailments — — — — — — Restructuring related pension cost: Special termination benefits — — — (1) — (1) Net pension income (expense) $ 10 $ 18 $ 17 $ (1) $ 1 $ (1) Weighted Average Assumptions: Discount rate 5.51 % 2.93 % 2.60 % 5.30 % 2.31 % 1.78 % Compensation increase NA NA N/A 2.69 % 2.30 % 2.14 % Long-term return on assets 6.87 % 6.23 % 6.15 % 4.60 % 3.70 % 3.30 % The Company's total accumulated benefit obligations for all defined benefit plans was $818 million and $777 million as of Year Ended December 31, (In millions) 2023 2022 Accumulated benefit obligation $ 671 $ 641 Projected benefit obligation $ 674 $ 643 Fair value of plan assets $ 529 $ 546 Assumptions used by the Company in determining its defined benefit pension obligations as of December 31, 2023 and 2022 are summarized in the following table: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, Weighted Average Assumptions 2023 2022 2023 2022 Discount rate 5.16 % 5.51 % 5.07 % 5.30 % Rate of increase in compensation NA NA 2.89 % 2.69 % Cash balance interest crediting rate 4.28 % 3.13 % 1.25 % 0.95 % The Company’s obligation for all defined benefit pension plans, is as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions) 2023 2022 2023 2022 Change in Benefit Obligation: Benefit obligation — beginning $ 603 $ 829 $ 178 $ 299 Service cost — — 1 1 Interest cost 32 20 10 6 Actuarial loss (gain) 27 (203) 10 (99) Settlements — — (1) (1) Special termination benefits — — 1 — Foreign exchange translation — — 10 (23) Benefits paid and other (40) (43) (8) (5) Benefit obligation — ending $ 622 $ 603 $ 201 $ 178 Change in Plan Assets: Plan assets — beginning $ 532 $ 693 $ 157 $ 258 Actual return on plan assets 17 (118) 8 (80) Sponsor contributions — — 7 7 Settlements — — (1) (1) Foreign exchange translation — — 9 (21) Benefits paid and other (40) (43) (8) (6) Plan assets — ending $ 509 $ 532 $ 172 $ 157 Total funded status at end of period $ (113) $ (71) $ (29) $ (21) Balance Sheet Classification: Other non-current assets — $ — $ 3 $ 4 Accrued employee liabilities — — (1) — Employee benefits (113) (71) (31) (25) Accumulated other comprehensive loss: Actuarial loss 65 14 32 17 Tax effects/other (11) — (10) (6) $ 54 $ 14 $ 22 $ 11 Components of the net change in AOCI related to all defined benefit pension plans, exclusive of amounts attributable to non-controlling interests on the Company’s Consolidated Statements of Changes in Equity for the years ended December 31, 2023 and 2022, are as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions) 2023 2022 2023 2022 Actuarial (gain) loss $ 50 $ (44) $ 13 $ (10) Deferred taxes (11) — (4) 4 Currency/other — — 2 (3) Reclassification to net income 1 (1) 1 (1) Settlements — — (1) (1) $ 40 $ (45) $ 11 $ (11) Actuarial loss for the year ended December 31, 2023 is primarily related to a decrease in discount rates partially offset by an increase in return on assets. Actuarial gains and losses are amortized using the 10% corridor approach representing 10% times the greater of plan assets or the projected benefit obligation. Generally, the expected return is determined using a market-related value of assets where gains (losses) are recognized in a systematic manner over five years. For less significant plans, fair value is used. Benefit payments, which reflect expected future service, are expected to be paid by the Company plans as follows: (In millions) U.S. Plans Non-U.S. Plans 2024 $ 38 $ 9 2025 39 8 2026 39 8 2027 40 9 2028 41 10 Years 2029 - 2033 221 57 During the year ended December 31, 2023, the Company contributed $7 million to its non-U.S. employee retirement pension plans. Contributions related to certain non-U.S. plans of approximately $2 million have been deferred until 2024 due to COVID-19 relief measures. Additionally, the Company expects to make contributions to its US and non-US defined benefit pension plans of $9 million and $7 million, respectively during 2024. Substantially all of the Company’s defined benefit pension plan assets are managed by external investment managers and held in trust by third-party custodians. The selection and oversight of these external service providers is the responsibility of the investment committees of the Company and their advisers. The selection of specific securities is at the discretion of the investment manager and is subject to the provisions set forth by written investment management agreements and related policy guidelines regarding permissible investments, risk management practices, and the use of derivative securities. Derivative securities may be used by investment managers as efficient substitutes for traditional securities, to reduce portfolio risks, or to hedge identifiable economic exposures. The use of derivative securities to engage in unrelated speculation is expressly prohibited. The primary objective of the pension funds is to pay the plans’ benefit and expense obligations when due. Given the long-term nature of these plan obligations and their sensitivity to interest rates, the investment strategy is intended to improve the funded status of its U.S. and non-U.S. plans over time while maintaining a prudent level of risk. Risk is managed primarily by diversifying each plan’s target asset allocation across equity, fixed income securities, and alternative investment strategies, and then maintaining the allocation within a specified range of its target. In addition, diversification across various investment subcategories within each plan is also maintained within specified ranges. The Company’s retirement plan asset allocation as of December 31, 2023 and 2022 and target allocation for 2024 are as follows: Target Allocation Percentage of Plan Assets U.S. Non-U.S. U.S. Non-U.S. 2024 2024 2023 2022 2023 2022 Equity securities 38 % 10 % 30 % 31 % 10 % 9 % Fixed income 28 % 64 % 17 % 11 % 65 % 65 % Alternative strategies 33 % 11 % 51 % 56 % 11 % 12 % Cash 1 % 4 % 2 % 2 % 3 % 2 % Other — % 11 % — % — % 11 % 12 % 100 % 100 % 100 % 100 % 100 % 100 % The expected long-term rate of return for defined benefit pension plan assets was selected based on various inputs, including returns projected by various external sources for the different asset classes held by and to be held by the Company’s trusts and its targeted asset allocation. These projections incorporate both historical returns and forward-looking views regarding capital market returns, inflation, and other variables. Pension plan assets are valued at fair value using various inputs and valuation techniques. A description of the inputs and valuation techniques used to measure the fair value for each class of plan assets is included in Note 16, "Fair Value Measurements." Discount Rate for Estimated Service and Interest Cost The Company uses the spot rate method to estimate the service and interest components of net periodic benefit cost for pension benefits for its U.S. and certain non-U.S. plans. The Company has elected to utilize an approach that discounts individual expected cash flows underlying interest and service costs using the applicable spot rates derived from the yield curve used to determine the benefit obligation to the relevant projected cash flows. The discount rate assumption is based on market rates for a hypothetical portfolio of high-quality corporate bonds rated Aa or better with maturities closely matched to the timing of projected benefit payments for each plan at its annual measurement date. The Company used discount rates ranging from 1.2% to 11.5% to determine its pension and other benefit obligations as of December 31, 2023. Defined Contribution Plans Most U.S. salaried employees and certain non-U.S. employees are eligible to participate in defined contribution plans by contributing a portion of their compensation which is partially matched by the Company. Matching contributions for the U.S. defined contribution plan are 100% on the first 6% of pay contributed. The expense related to all defined contribution plans was approximately $6 million in 2023, $3 million in 2022, and $6 million in 2021.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation At the Company’s annual meeting of shareholders in June 2020, the shareholders approved the Visteon Corporation 2020 Incentive Plan (the “2020 Incentive Plan”), replacing the 2010 stock incentive plan and providing for an additional grant of up to 1.5 million shares. Pursuant to the 2020 Incentive Plan, the Company may grant shares of common stock for restricted stock awards (“RSAs”), restricted stock units (“RSUs”), non-qualified stock options ("Stock Options"), stock appreciation rights (“SARs”), performance-based share units ("PSUs"), and other stock based awards. The Company's stock-based compensation instruments are accounted for as equity awards or liability awards based on settlement intention as follows: • For equity settled stock-based compensation instruments, compensation cost is measured based on grant date fair value of the award and is recognized over the applicable service period. For equity settled stock-based compensation instruments, the delivery of Company shares may be on a gross settlement basis or a net settlement basis. The Company's policy is to deliver such shares using treasury shares or issuing new shares. • Cash settled stock-based compensation instruments are subject to liability accounting. At the end of each reporting period, the vested portion of the obligation for cash settled stock-based compensation instruments is adjusted to fair value based on the period-ending market prices of the Company's common stock. Related compensation expense is recognized based on changes to the fair value over the applicable service period. Generally, the Company's stock-based compensation instruments are subject to graded vesting and recognized on an accelerated basis. The settlement intention of the awards is at the discretion of the Organization and Compensation Committee of the Company's Board of Directors. These stock-based compensation awards generally provide for accelerated vesting upon a change-in-control, as defined in the 2020 Incentive Plan, which requires a double-trigger. Accordingly, the Company may be required to accelerate recognition of related expenses in future periods in connection with the change-in-control events and subsequent changes in employee responsibilities, if any. The total recognized and unrecognized stock-based compensation expense is as follows: Year Ended December 31, Unrecognized Stock-Based Compensation Expense (In millions) 2023 2022 2021 December 31, 2023 Performance based share units $ 9 $ 7 $ 5 $ 14 Restricted stock units 27 20 12 24 Stock options — — 1 — Total stock-based compensation expense $ 36 $ 27 $ 18 $ 38 Performance Based Share Units The number of PSUs that will vest, ranging from 0% to 200% of the target award, is based on the Company's achievement of a pre-established relative total shareholder return goal compared to its peer group of companies over a three-year period. A summary of PSU activity is provided below: PSUs Weighted Average Grant Date Fair Value (In thousands) Non-vested as of December 31, 2020 180 $ 106.48 Granted 55 148.71 Vested (52) 131.48 Forfeited (15) 112.01 Non-vested as of December 31, 2021 168 112.24 Granted 98 164.24 Vested (86) 115.70 Forfeited (8) 141.76 Non-vested as of December 31, 2022 172 128.28 Granted 131 230.65 Vested (137) 84.52 Forfeited (7) 185.07 Non-vested as of December 31, 2023 159 $ 184.67 The grant date fair value for PSUs was determined using the Monte Carlo valuation model. Unrecognized compensation expense as of December 31, 2023 for PSUs to be settled in shares of the Company's common stock was $13 million and will be recognized over the remaining vesting period of approximately 1.9 years. The Company made cash settlement payments of less th an $1 million for PSU s settled in cash during each of the years ended December 31, 2023 and 2022. Unrecognized compensation expense as of December 31, 2023 was less than $1 million for the non-vested portion of these awards and will be recognized over the remaining vesting period of approximately 1.8 years. The Monte Carlo valuation model requires management to make various assumptions including the expected volatility, risk-free interest rate, and dividend yield. Volatility is based on the Company’s stock history using daily stock prices over a period commensurate with the expected life of the award. The risk-free rate was based on the U.S. Treasury yield curve in relation to the contractual life of the stock-based compensation instrument. The dividend yield was based on historical patterns and future expectations for Company dividends. Weighted average assumptions used to estimate the fair value of PSUs granted during the years ended as of December 31, 2023 and 2022 are as follows: Year Ended December 31, 2023 2022 Expected volatility 51.72 % 52.12 % Risk-free rate 4.56 % 1.46 % Expected dividend yield — % — % Restricted Stock Units The grant date fair value of RSUs is measured as the market closing price of the Company's common stock on the date of grant. These awards generally vest in one-third increments on the grant date anniversary over a three-year vesting period. Share Settled RSUs for the Year Ended December 31, 2023 2022 2021 Granted 221,000 276,000 110,000 Weighted average grant date fair value $159.95 $114.17 $116.71 Unrecognized compensation expense as of December 31, 2023 was $22 million for non-vested share settled RSUs and will be recognized over the remaining vesting period of approximately 1.5 years. Cash Settled RSUs for the Year Ended December 31, 2023 2022 2021 Granted 15,000 17,000 6,000 Weighted average grant date fair value $125.30 $130.47 $112.52 The Company made cash settlement payments of $1 million d uring the year ended December 31, 2023, and less than $1 million for the years ended December 31, 2022, and 2021. Unrecognized compensation expense as of December 31, 2023 was $2 million for non-vested cash settled RSUs and will be recognized on a weighted average basis over the remaining vesting period of approximately 1.7 years. A summary of RSU activity is provided below: RSUs Weighted Average Grant Date Fair Value (In thousands) Unissued shares as of December 31, 2020 317 $ 82.31 Granted 117 124.34 Vested (106) 84.80 Forfeited (43) 88.64 Unissued shares as of December 31, 2021 285 97.68 Granted 293 115.13 Vested (171) 91.48 Forfeited (52) 107.10 Unissued shares as of December 31, 2022 355 113.41 Granted 236 157.81 Vested (161) 107.89 Forfeited (45) 136.95 Unissued shares as of December 31, 2023 385 $ 139.35 Beginning in the third quarter 2020, non-employee director RSU awards were granted under the terms and conditions of the 2020 Incentive Plan, and these awards vest approximately one year from the date of grant. Activity related to non-employee director grants under the 2020 Incentive Plan is included in RSU table above. Additionally, as of December 31, 2023, the Company has approximately 89,000 outstanding RSU's awarded at a weighted average grant date fair value of $103.27 under the Non-Employee Director Stock Unit Plan which vest within one year or less but are not settled until the participant terminates board service. Total RSU's outstanding as of December 31, 2023 is approximately 474,000 inclusive of the table above. Stock Options and Stock Appreciation Rights Stock Options and SARs are recorded with an exercise price equal to the average of the high and low market price of the Company's common stock on the date of grant. The grant date fair value of these awards is measured using the Black-Scholes option pricing model. Stock Options and SARs generally vest in one-third increments on the grant date anniversary over a three-year vesting period and have an expiration date 7 or 10 years from the date of grant. The Company received payments of $6 million, $2 million, and $2 million related to the exercise of Stock Options with total intrinsic value of options exercised of $4 million, $3 million, and $1 million during the years ended December 31, 2023, 2022, and 2021, respectively. There is no remaining un recognized compensation expense for Stock Options as of December 31, 2023. The Black-Scholes option pricing model requires management to make various assumptions including the expected term, risk-free interest rate, dividend yield, and expected volatility. The expected term represents the period of time that granted awards are expected to be outstanding and is estimated based on considerations including the vesting period, contractual term, and anticipated employee exercise patterns. The risk-free rate is based on the U.S. Treasury yield curve in relation to the contractual life of the stock-based compensation instrument. The dividend yield is based on historical patterns and future expectations for Company dividends. Volatility is based on the Company’s stock history using daily stock prices over a period commensurate with the expected life of the award. No stock options or SARs were granted in 2023, 2022 or 2021. A summary of Stock Options and SAR activity is provided below: Stock Options Weighted Average SARs Weighted Average (In thousands) (In thousands) December 31, 2020 348 $ 85.46 6 $ 74.77 Exercised (19) 80.74 (6) 74.77 Forfeited or expired (17) 89.17 — — December 31, 2021 312 85.56 — — Exercised (51) 75.05 — — December 31, 2022 261 87.62 — — Exercised (71) 91.44 — — December 31, 2023 190 $ 86.21 — $ — Exercisable at December 31, 2023 190 $ 86.21 — $ — Stock Options Exercise Price Number Outstanding Weighted Weighted (In thousands) (In years) $60.01 - $80.00 78 3.3 $ 66.98 $80.01 - $100.00 64 2.3 $ 80.97 $100.01 - $130.00 48 1.3 $ 124.35 190

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Provision Details of the Company's income tax benefit from continuing operations are provided in the table below: Year Ended December 31, (In millions) 2023 2022 2021 Income (Loss) Before Income Taxes: (a) U.S $ 8 $ 50 $ (26) Non-U.S. 259 126 101 Total income (loss) before income taxes $ 267 $ 176 $ 75 Current Tax Provision (Benefit): Non-U.S. $ 73 $ 45 $ 31 U.S. state and local — 1 — Total current tax provision (benefit) 73 46 31 Deferred Tax Provision (Benefit): U.S. federal $ (300) $ — $ — Non-U.S (8) (1) — U.S. state and local (13) — — Total deferred tax provision (benefit) (321) (1) — Provision for (benefit from) for income taxes $ (248) $ 45 $ 31 (a) Income (loss) before income taxes excludes equity in net income from non-consolidated affiliates. A summary of the differences between the provision (benefit) for income taxes calculated at the U.S. statutory tax rate of 21% and the consolidated income tax benefit from continuing operations is shown below: Year Ended December 31, (In millions) 2023 2022 2021 Tax provision (benefit) at U.S. statutory rate of 21% $ 56 $ 37 $ 16 Impact of foreign operations 69 63 18 Non-U.S withholding taxes 17 9 8 Tax holidays in foreign operations (11) (5) (5) State and local income taxes (3) (2) — Tax reserve adjustments 3 3 2 Change in valuation allowance (377) (61) (10) Other (2) 1 2 Provision for (benefit from) for income taxes $ (248) $ 45 $ 31 The Company’s benefit from income taxes for continuing operations was $248 million for the year ended December 31, 2023. In the fourth quarter of 2023, the Company released $313 million of valuation allowance against its U.S. federal and state deferred tax assets, resulting in a non-cash benefit to income tax expense (discussed in further detail below). Other items impacting the Company’s 2023 effective tax rate include tax expense related to foreign operations of $69 million which reflects $24 million related to U.S. income taxes in connection with global intangible low-tax income ("GILTI") and Subpart F inclusions; $2 million related to income tax expense, net of foreign tax credits, associated with income from foreign subsidiaries treated as branches for U.S. income tax purposes; net $39 million income tax expense related primarily to adjusting prior year tax returns to deduct foreign taxes prior to expiration; and $4 million tax expense on foreign earnings taxed at rates higher than the U.S. statutory rate. Items impacting the Company’s 2022 effective tax rate include tax expense related to foreign operations of $63 million which reflects $11 million related to U.S. income taxes in connection with GILTI and Subpart F inclusions; $3 million related to income tax expense, net of foreign tax credits, associated with income from foreign subsidiaries treated as branches for U.S. income tax purposes; net $44 million income tax expense related primarily to adjusting prior year tax returns to deduct foreign taxes prior to expiration; and $5 million tax expense on foreign earnings taxed at rates higher than the U.S. statutory rate. Of the $63 million income tax expense items above, $58 million were offset by a corresponding income tax benefit associated with a reduction in the U.S. valuation allowance. Items impacting the Company’s 2021 effective tax rate include tax benefits related to foreign operations of $18 million which reflects $9 million related to U.S. income taxes in connection with GILTI and Subpart F inclusions; $6 million related to income tax expense, net of foreign tax credits, associated with income from foreign subsidiaries treated as branches for U.S. income tax purposes; net $2 million income tax expense related primarily to adjusting prior year tax returns to deduct foreign taxes prior to expiration; and $1 million tax expense on foreign earnings taxed at rates higher than the U.S. statutory rate. Of the $18 million income tax expense items above, $17 million were offset by a corresponding income tax benefit associated with a reduction in the U.S. valuation allowance. Deferred Income Taxes and Valuation Allowances The Company has historically provided a valuation allowance against the U.S. net deferred tax assets. However, in the fourth quarter of 2023, the Company released $313 million of valuation allowance against its U.S. net deferred tax assets, resulting in a non-cash benefit to income tax expense. In making the determination to release the valuation allowance, the Company took into consideration its cumulative income position for the most recent three-year period and forecasts of future earnings, and determined there is sufficient positive evidence to conclude that it is more likely than not that a portion of the Company’s net deferred tax assets are realizable. In determining the amount of the U.S. valuation allowance to release, the Company considered its policy to apply the incremental economic benefit approach when analyzing the impact future GILTI inclusions could have when assessing the realizability of its deferred taxes. The Company continues to maintain a valuation allowance against approximately $399 million of U.S. federal and state deferred tax assets as of December 31, 2023, because the Company has concluded they are not more likely than not to be realized. Also during the fourth quarter of 2023, the Company reassessed future taxable income and related expected utilization of deferred tax assets in Germany resulting in the release of $9 million of valuation allowance. As of December 31, 2023, valuation allowances totaling $355 million relate to deferred tax assets in certain foreign jurisdictions, primarily Germany and France. The Company will continue to evaluate the available positive and negative evidence available in subsequent periods and adjust its remaining valuation allowances to an amount it determines to be more likely than not to be realized. The Company has recorded the taxes associated with the foreign earnings it intends to repatriate in the future. The amount the Company expects to repatriate is based upon a variety of factors including current year earnings of the foreign affiliates, foreign investment needs, and the cash flow needs of the Company. As of December 31, 2023 and 2022, the Company has recorded withholding tax liabilities of $28 million and $24 million, respectively related to these earnings. The Company has not provided for deferred tax liabilities for foreign withholding or other taxes on the remainder of undistributed earnings because such earnings are considered to be permanently reinvested. It is not practicable to determine the amount of deferred tax liability on such earnings as the actual tax liability, if any, is dependent on circumstances existing when remittance occurs. The components of deferred income tax assets and liabilities are as follows: December 31, (In millions) 2023 2022 Deferred Tax Assets: Net operating losses and credit carryforwards $ 944 $ 1,030 Employee benefit plans 39 28 Lease liability 38 42 Fixed assets and intangibles 16 19 Warranty 15 10 Inventory 12 13 Restructuring 2 5 Capitalized expenditures 107 58 Deferred income 6 11 Other 73 49 Gross deferred tax assets 1,252 1,265 Valuation allowance (754) (1,120) Total deferred tax assets $ 498 $ 145 Deferred Tax Liabilities: Outside basis investment differences, including withholding tax $ 66 $ 61 Right-of-use assets 37 41 Fixed assets and intangibles 14 11 All other 28 17 Total deferred tax liabilities 145 130 Net deferred tax assets $ 353 $ 15 Consolidated Balance Sheet Classification: Other non-current assets $ 384 $ 42 Deferred tax liabilities non-current 31 27 Net deferred tax assets $ 353 $ 15 At December 31, 2023, the Company had available non-U.S. net operating loss carryforwards and capital loss carryforwards of $1.4 billion and $17 million, respectively, which have remaining carryforward periods ranging 1 year to indefinite. The Company had available U.S. federal net operating loss carryforwards of $1.1 billion at December 31, 2023, which have remaining carryforward periods ranging from 7 years to 11 years. U.S. foreign tax credit carryforwards are $304 million at December 31, 2023, which have remaining carryforward periods ranging from 1 to 10 years. U.S. research tax credit carryforwards are $26 million at December 31, 2023. These credits will begin to expire in 2030. The Company had available tax-effected U.S. state operating loss carryforwards of $30 million at December 31, 2023, which will expire at various dates between 2024 and 2043. In connection with the Company's emergence from bankruptcy and resulting change in ownership on the Effective Date, an annual limitation was imposed on the utilization of U.S. net operating losses, U.S. credit carryforwards and certain U.S. built-in losses (collectively referred to as “tax attributes”) under Internal Revenue Code (“IRC”) Sections 382 and 383. The collective limitation is approximately $121 million per year on tax attributes in existence at the date of change in ownership. Unrecognized Tax Benefits A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year Ended December 31, (In millions) 2023 2022 Beginning balance $ 18 $ 16 Tax positions related to current period Additions 8 3 Tax positions related to prior periods Reductions (1) (1) Ending balance $ 25 $ 18 Gross unrecognized tax benefits at December 31, 2023 and 2022 were $25 million and $18 million, respectively. Of these amounts, approximately $18 million and $10 million respectively, represent the amount of unrecognized benefits that, if recognized, would impact the effective tax rate. The Company records interest and penalties related to uncertain tax positions as a component of income tax expense and related amounts accrued at December 31, 2023 and 2022 were $2 million in both years. With few exceptions, the Company is no longer subject to U.S. federal tax examinations for years before 2015, or state, local or non-U.S. income tax examinations for years before 2003, although U.S. net operating losses carried forward into open tax years technically remain open to adjustment. Although it is not possible to predict the timing of the resolution of all ongoing tax audits with accuracy, it is reasonably possible that certain tax proceedings in the U.S., Europe, Asia and Mexico could conclude within the next twelve months and result in an increase or decrease in the balance of gross unrecognized tax benefits. Given the number of years, jurisdictions and positions subject to examination, the Company is unable to estimate the full range of possible adjustments to the balance of unrecognized tax benefits. The long-term portion of uncertain income tax positions (including interest) in the amount of $12 million is included in Other non-current liabilities on the consolidated balance sheet, while $5 million is included Other current liabilities on the consolidated balance sheet, and $10 million is reflected as a reduction of deferred tax assets included in Other non-current assets. Outstanding income tax refund claims related primarily to India and Brazil jurisdictions, total $7 million as of December 31, 2023, and are included in other non-current assets on the balance sheets. Other Tax Matters In January 2023, the Company received a decision by the Indian Tax Authority (“ITA”) that tax applies to certain IT-related services fees paid to the U.S. which spans several years. Until this matter is resolved, the Company will likely need to remit taxes on the services in question for which payments could be significant in the aggregate. The Company believes the ITA’s decision is without merit, and intends to defend its position vigorously, and expects to recoup any taxes paid. If this matter is adversely resolved, the Company would record additional tax expense, which would include any taxes ultimately paid.

Stockholders' Equity and Non-co

Stockholders' Equity and Non-controlling Interests	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Shareholders' Equity and Non-controlling Interests	Stockholders’ Equity and Non-controlling Interests Treasury Stock As of December 31, 2023 and 2022, respectively, the Company held 27,354,274 and 26,825,830 shares of common stock in treasury which may be used for satisfying obligations under employee incentive compensation arrangements. The Company values shares of common stock held in treasury at cost. Non-Controlling Interests Non-controlling interests in Visteon Corporation are as follows: December 31, (In millions) 2023 2022 Shanghai Visteon Automotive Electronics Co., Ltd. $ 51 $ 45 Yanfeng Visteon Automotive Electronics Co., Ltd. 18 37 Changchun Visteon FAWAY Automotive Electronics Co., Ltd. 14 15 Other 2 2 $ 85 $ 99 Accumulated Other Comprehensive Income (Loss) Changes in AOCI and reclassifications out of AOCI by component includes: Year Ended December 31, (In millions) 2023 2022 Changes in AOCI: Beginning balance $ (213) $ (229) Other comprehensive income (loss) before reclassification, net of tax (51) 9 Amounts reclassified from AOCI 10 7 Ending balance $ (254) $ (213) Changes in AOCI by component: Foreign currency translation adjustments Beginning balance $ (210) $ (149) Other comprehensive income (loss) before reclassification (a) 18 (64) Amounts reclassified from AOCI (b) — 3 Ending balance (192) (210) Net investment hedge Beginning balance 12 4 Other comprehensive income (loss) before reclassification (a) (7) 11 Amounts reclassified from AOCI (c) — (3) Ending balance 5 12 Benefit plans Beginning balance (25) (81) Other comprehensive income (loss) before reclassification, net of tax (a) (49) 54 Amounts reclassified from AOCI (2) 2 Ending balance (76) (25) Unrealized hedging gain (loss) Beginning balance 10 (3) Other comprehensive income (loss) before reclassification, net of tax (a) (13) 8 Amounts reclassified from AOCI 12 5 Ending balance 9 10 AOCI ending balance $ (254) $ (213) (a) These amounts are net of income tax effects. (b) Amount relates to foreign currency translation charge. (See Note, 20, "Other Income, net" for additional details.)

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share A summary of information used to compute basic and diluted earnings per share attributable to Visteon is as follows: Year Ended December 31, (In millions, except per share amounts) 2023 2022 2021 Numerator: Net income (loss) attributable to Visteon $ 486 $ 124 $ 41 Denominator: Average common stock outstanding - basic 28.1 28.1 28.0 Dilutive effect of performance based share units and other 0.4 0.4 0.4 Diluted shares 28.5 28.5 28.4 Basic and Diluted Per Share Data: Basic earnings (loss) per share attributable to Visteon: $ 17.30 $ 4.41 $ 1.46 Diluted earnings (loss) per share attributable to Visteon: $ 17.05 $ 4.35 $ 1.44

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Hierarchy The Company uses a three-level fair value hierarchy that categorizes assets and liabilities measured at fair value based on the observability of the inputs utilized in the valuation. The fair value hierarchy gives the highest priority to the quoted prices in active markets for identical assets and liabilities and lowest priority to unobservable inputs. • Level 1 – Financial assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in an active market that the Company has the ability to access. • Level 2 – Financial assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable for substantially the full term of the asset or liability. • Level 3 – Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Assets which are valued at net asset value per share ("NAV"), or its equivalent, as a practical expedient are reported outside the fair value hierarchy but are included in the total assets for reporting and reconciliation purposes. The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis are as follows: December 31, 2023 (In millions) Level 1 Level 2 Level 3 NAV Total Asset Category: Retirement plan assets $ 93 $ 112 $ 19 $ 457 $ 681 Interest rate swaps $ — $ 7 $ — $ — $ 7 Liability Category: Cross currency swaps $ — $ 15 $ — $ — $ 15 December 31, 2022 (In millions) Level 1 Level 2 Level 3 NAV Total Asset Category: Retirement plan assets $ 7 $ 152 $ 18 $ 512 $ 689 Interest rate swaps $ — $ 10 $ — $ — 10 Liability Category: Cross currency swaps $ — $ 8 $ — $ — $ 8 Cross currency swaps and interest rate swaps are valued using industry-standard models that consider various assumptions, including time value, volatility factors, current market, and contractual prices for the underlying and non-performance risk. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. The carrying amounts of all other non-retirement plan financial instruments approximate their fair values due to their relatively short-term maturities. Retirement plan assets pertain to a diverse set of securities and investment vehicles held by the Company’s defined benefit pension plans. These assets possess varying fair value measurement attributes such that certain portions are categorized within each level of the fair value hierarchy as based upon the level of observability of the inputs utilized in the valuation of the particular asset. The Company may, as a practical expedient, estimate the fair value of certain investments using NAV of the investment as of the reporting date. This practical expedient generally deals with investments that permit an investor to redeem its investment directly with, or receive distributions from, the investee at times specified in the investee’s governing documents. Examples of these investments (often referred to as alternative investments) may include ownership interests in real assets, certain credit strategies, and hedging and diversifying strategies. They are commonly in the form of limited partnership interests. The Company uses NAV as a practical expedient when valuing investments in alternative asset classes and funds which are a limited partnership or similar investment vehicle. Derivative financial instruments Derivative financial instruments are measured at fair value on a recurring basis under an income approach using industry-standard models that consider various assumptions, including time value, volatility factors, current market and contractual prices for the underlying, and non-performance risk. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument or may derived from observable data. Accordingly, the Company's derivative instruments are classified as Level 2, "Other Observable Inputs" in the fair value hierarchy. Retirement Plan Assets Retirement plan assets consist of the following: • Cash and cash equivalents, are immediately available or are highly liquid and not subject to significant market risk. Assets comprised of cash, short-term sovereign debt, or high credit-quality money market securities and instruments held directly by the plan are categorized as Level 1. Assets in a short-term investment fund ("STIF") are categorized as Level 2. Cash and cash equivalent assets denominated in currencies other than the U.S. dollar are reflected in U.S. dollar terms at the exchange rate prevailing at the balance sheet dates. • Treasury and government securities consist of debt securities issued by the U.S. and non-U.S. sovereign governments and agencies, thereof. Assets with a high degree of liquidity and frequent trading activity are categorized as Level 1 while others are valued by independent valuation firms that employ standard methodologies associated with valuing fixed-income securities and are categorized as Level 2. • Corporate debt securities consist of fixed income securities issued by corporations. Assets with a high degree of liquidity and frequent trading activity are categorized as Level 1 while others are valued by independent valuation firms that employ standard methodologies associated with valuing fixed-income securities and are categorized as Level 2. • Bond funds are comprised of corporate and municipal bonds. These securities are generally priced by independent pricing services. The spreads are sourced from broker/dealers, trade prices and the new issue market. As the significant inputs used to price corporate bonds are observable market inputs, the fair values of corporate bonds are included in the Level 2 fair value hierarchy. • Common and preferred stocks consist of shares of equity securities. These are directly-held assets that are generally publicly traded in regulated markets that provide readily available market prices and are categorized as Level 1. • Common trust funds are comprised of shares or units in commingled funds that are not publicly traded. The underlying assets in these funds, including equities and fixed income securities, are generally publicly traded in regulated markets that provide readily available market prices. The entire balance of an investment in a common trust fund that does not have a readily observable market prices as available on a third-party information source, notwithstanding whether the investment has daily liquidity, is categorized as Level 2; or the fund is considered as an alternative strategy (including hedge and diversifying strategies) for which valuation is established by NAV as a practical expedient. • Liability Driven Investments (“LDI”) utilizes certain funds that invest in instruments and securities, interest-rate swaps and other financial derivative instruments intended to hedge a portion of the changes in pension liabilities associated with changes in the actuarial discount rate as applied to the plan’s liabilities. The valuation methodology of the funds that invest in fixed income derivative instruments, the assets contained in this category utilize standard pricing models associated with fixed income derivative instruments and are categorized as Level 2. • Repurchase agreements represent the plans’ short-term borrowing to hedge against interest rate and inflation risks. The plans have an obligation to return the cash after the term of the agreements. Due to the short-term nature of the agreements, the outstanding balance of the obligation approximates fair value. These borrowings are categorized as Level 2. • Other investment funds include funds that hold various short-term, real-estate related, and fixed income assets and are categorized as Level 1, Level 2, and NAV, consistent with the valuation techniques of investment funds described above. • Limited partnerships and hedge funds represent investment vehicles with underlying exposures in alternative credit, hedge and diversifying strategies (including hedge fund of funds), real assets, and certain equity exposures. The underlying assets in these funds may include securities transacted in active markets as well as other assets that have values less readily observable and may require valuation techniques that require inputs that are not readily observable. Investment in these funds may be subject to a specific notice period prior to the intended transaction date. In addition, transactions in these funds may require longer settlement terms than traditional mutual funds. These assets are valued based on their respective NAV as a practical expedient to estimate fair value due to the absence of readily available market prices. • Insurance contracts are reported at cash surrender value and have significant unobservable inputs and are categorized as Level 3. The fair values of the Company’s U.S. retirement plan assets are as follows: (In millions) December 31, 2023 Asset Category Level 1 Level 2 NAV Total Common trust funds $ — $ — $ 308 $ 308 LDI — 88 — 88 Limited partnerships and hedge funds — — 105 105 Cash and cash equivalents — 8 — 8 Total $ — $ 96 $ 413 $ 509 (In millions) December 31, 2022 Asset Category Level 1 Level 2 NAV Total Common trust funds $ — $ — $ 343 $ 343 LDI — 55 — 55 Limited partnerships and hedge funds — — 124 124 Cash and cash equivalents — 10 — 10 Total $ — $ 65 $ 467 $ 532 The fair values of the Company’s Non-U.S. retirement plan assets are as follows: (In millions) December 31, 2023 Asset Category Level 1 Level 2 Level 3 NAV Total Treasury and government securities $ 85 $ 10 $ — $ — $ 95 Bond funds — 24 — — 24 Insurance contracts — — 19 — 19 Limited partnerships — — — 11 11 Corporate debt securities — 9 — — 9 Common and preferred stock 3 — — — 3 Common trust funds — 1 — — 1 Cash and cash equivalents 1 — — — 1 Repurchase agreements — (41) — — (41) Other investment funds 4 13 — 33 50 Total $ 93 $ 16 $ 19 $ 44 $ 172 (In millions) December 31, 2022 Asset Category Level 1 Level 2 Level 3 NAV Total Treasury and government securities $ — $ 8 $ — $ — $ 8 Cash and cash equivalents 3 — — — 3 Corporate debt securities — 9 — — 9 Common and preferred stock 3 — — — 3 Common trust funds — 1 — — 1 Limited partnerships — — — 10 10 Insurance contracts — — 18 — 18 Bond Funds — 59 — — 59 Other investment funds 1 10 — 35 46 Total $ 7 $ 87 $ 18 $ 45 $ 157 Items Measured at Fair Value on a Non-recurring Basis The Company measures certain assets and liabilities at fair value on a non-recurring basis, which are not included in the table above. As these non-recurring fair value measurements are generally determined using unobservable inputs, these fair value measurements are classified within Level 3 of the fair value hierarchy. The Company evaluates its long-lived assets for impairment whenever events or circumstances indicate the value of these long-lived asset groups are not recoverable. No impairment charges were recorded for the year ended December 31, 2023. In 2022, due to the geopolitical situation in Eastern Europe the Company closed the Russian facility resulting in a non-cash impairment charge of $5 million to fully impair property and equipment and reduce inventory to its net realizable value . During 2021, the Company recognized an impairment charge of $9 million related to its long-lived asset group in Brazil. The fair value measurements related to the long-lived asset group rely primarily on Company-specific inputs and the Company’s assumptions about the use of the assets, as observable inputs are not available (Level 3). To determine the fair value of the long-lived asset group, the Company utilized a cost and market approach, measuring fair value on the standalone basis value premise. The Company believes the assumptions and estimates used to determine the estimated fair value of the long-lived asset group is reasonable; however, these estimates and assumptions are subject to a high degree of uncertainty. Due to many variables inherent in estimating fair value, differences in assumptions could have a material effect on the analysis. As the net carrying value of the long-lived asset group in Brazil exceeded its fair values, the Company recorded a long-lived asset impairment charge of $9 million related to property and equipment during the year ended December 31, 2022. Fair Value of Debt

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation and Claims In 2003, the Local Development Finance Authority of the Charter Township of Van Buren, Michigan issued approximately $28 million in bonds finally maturing in 2032, the proceeds of which were used at least in part to assist in the development of the Company’s U.S. headquarters located in the Township. During January 2010, the Company and the Township entered into a settlement agreement (the “Settlement Agreement”) that, among other things, reduced the taxable value of the headquarters property to current market value and also provided that the Company would negotiate in good faith with the Township if the property tax payments were inadequate to permit the Township to meet its payment obligations with respect to the bonds. On December 9, 2019, the Township commenced litigation against the Company in Michigan’s Wayne County Circuit Court. On June 27, 2023, Visteon and the Township entered into a Settlement and Mutual Release Agreement pursuant to which Visteon, without admitting wrongdoing, will pay the Township $12 million. Payment will be made in two installments. One payment was made on July 3, 2023. The second payment is scheduled to be paid on July 1, 2024 and is classified as a current liability. The litigation commenced in Michigan’s Wayne County Circuit Court and has been dismissed with prejudice. The Company's operations in Brazil are subject to highly complex labor, tax, customs and other laws. While the Company believes that it is in compliance with such laws, it is periodically engaged in litigation regarding the application of these laws. As of December 31, 2023, the Company maintained accruals of approximately $8 million for claims aggregating approximately $65 million in Brazil. The amounts accrued represent claims that are deemed probable of loss and are reasonably estimable based on the Company's assessment of the claims and prior experience with similar matters. While the Company believes its accruals for litigation and claims are adequate, the final amounts required to resolve such matters could differ materially from recorded estimates and the Company's results of operations and cash flows could be materially affected. Product Warranty and Recall Amounts accrued for product warranty and recall provisions are based on management’s best estimates of the amounts that will ultimately be required to settle such items. The Company’s estimates for product warranty and recall obligations are developed with support from its sales, engineering, quality, and legal functions and include due consideration of contractual arrangements, past experience, current claims and related information, production changes, industry and regulatory developments, and various other considerations. These estimates do not include amounts which may ultimately be recovered from the Company's suppliers. The Company can provide no assurances that it will not experience material obligations in the future or that it will not incur significant costs to defend or settle such obligations beyond the amounts accrued or beyond what the Company may recover from its suppliers. The following table provides a reconciliation of changes in the product warranty and recall liability: Year Ended December 31, (In millions) 2023 2022 Beginning balance $ 51 $ 50 Provisions 32 21 Change in estimates 4 1 Currency/other 1 (3) Settlements (17) (18) Ending balance $ 71 $ 51 Guarantees and Commitments As part of the agreements of the Climate Transaction and Interiors Divestiture, divestitures completed during 2015, the Company continues to provide lease guarantees to divested Climate and Interiors entities. As of December 31, 2023, the Company has approximately $1 million million and $2 million million of outstanding guarantees for each of the divested Climate and Interiors entities, respectively. The guarantees represent the maximum potential amount that the Company could be required to pay under the guarantees in the event of default by the guaranteed parties. These guarantees will generally cease upon expiration of current lease agreement which expire in 2026 and 2024 for the Climate and Interiors entities, respectively. Other Contingent Matters Various legal actions, governmental investigations and proceedings and claims are pending or may be instituted or asserted in the future against the Company, including those arising out of alleged defects in the Company’s products; customs classifications; governmental regulations relating to safety; employment-related matters; customer, supplier and other contractual relationships; intellectual property rights; product warranties; product recalls; tax matters, including the ITA tax matter described in Note 13, "Income Taxes"; and environmental matters. Some of the foregoing matters may involve compensatory, punitive or antitrust, or other treble damage claims in very large amounts, or demands for recall campaigns, environmental remediation programs, sanctions, or other relief which, if granted, would require very large expenditures. The Company enters into agreements that contain indemnification provisions in the normal course of business for which the risks are considered nominal and impracticable to estimate. Contingencies are subject to many uncertainties, and the outcome of individual litigated matters is not predictable with assurance. Reserves have been established by the Company for matters discussed in the immediately foregoing paragraph where losses are deemed probable and reasonably estimable. It is possible, however, that some of the matters discussed in the foregoing paragraph could be decided unfavorably to the Company and could require the Company to pay damages or make other expenditures in amounts, or a range of amounts, that cannot be estimated as of December 31, 2023 and that are in excess of established reserves. Based on its analysis, the Company does not reasonably expect, except as otherwise described herein, that any adverse outcome from such matters would have a material effect on the Company’s financial condition, results of operations or cash flows, although such an outcome is possible.

Segment Information and Revenue

Segment Information and Revenue Recognition	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Information and Revenue Recognition	Revenue recognition and Geographical Information Financial Information by Geographic Region Financial information about net sales and net tangible long-lived assets by country are as follows: Net Sales (a) Tangible Long-Lived Assets, Net (b) Year Ended December 31, December 31, (In millions) 2023 2022 2021 2023 2022 United States $ 882 $ 875 $ 586 $ 105 $ 103 Mexico 109 96 55 54 50 Total North America 991 971 641 159 153 Portugal 840 867 608 105 85 Slovakia 352 347 257 29 36 Tunisia 106 69 53 37 21 Other Europe — 14 44 28 32 Total Europe 1,298 1,297 962 199 174 China Domestic 614 625 576 China Export 336 245 199 Total China 950 870 775 67 64 Japan 353 330 234 29 24 India 246 227 151 59 54 Other Asia-Pacific 92 68 39 6 9 Total Other Asia-Pacific 691 625 424 94 87 South America 173 143 80 8 10 Eliminations (149) (150) (109) $ 3,954 $ 3,756 $ 2,773 $ 527 $ 488 (a) Company sales based on geographic region where sale originates and not where customer is located. (b) Tangible long-lived assets include property, plant, and equipment and right-of-use assets. Disaggregated revenue by product lines is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Product Lines Instrument clusters $ 1,949 $ 1,782 $ 1,356 Cockpit domain controller 536 473 226 Infotainment 499 498 370 Information displays 367 490 402 Body and electrification electronics 314 225 134 Other 289 288 285 $ 3,954 $ 3,756 $ 2,773

Other Income, Net

Other Income, Net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Income, Net	Other Income, Net Year Ended December 31, (In millions) 2023 2022 2021 Pension financing benefits, net $ 11 $ 20 $ 18 Gain on sale of investment — 3 — Foreign currency translation charge — (3) — Township settlement (12) — — $ (1) $ 20 $ 18 Pension financing benefits, net include return on assets net of interest costs and other amortization. During the year ended December 31, 2023, the Company recorded a charge of $12 million in regards to the Charter Township of Van Buren, Michigan settlement. See Note 18 for more information. The gain on sale of investment represents the Company's sale of an equity investment recorded during the year ended December 31, 2022. During the year ended December 31, 2022, the Company recorded a charge of $3 million related to foreign currency translation amounts recorded in accumulated other comprehensive loss associated with the close the Russian facility.

SCHEDULE II _ VALUATION AND QUA

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (In millions) Balance at (Benefits)/ Deductions(a) Other( b) Balance Year Ended December 31, 2023: Allowance for doubtful accounts $ 5 $ 2 $ — $ — $ 7 Valuation allowance for deferred taxes 1,120 (377) — 11 754 Year Ended December 31, 2022: Allowance for doubtful accounts $ 4 $ 1 $ — $ — $ 5 Valuation allowance for deferred taxes 1,207 (61) — (26) 1,120 Year Ended December 31, 2021: Allowance for doubtful accounts $ 4 $ — $ — $ — $ 4 Valuation allowance for deferred taxes 1,263 (10) — (46) 1,207 ____________ (a) Deductions represent uncollectible accounts charged off. (b) Deferred taxes valuation allowance - represents adjustments recorded through other comprehensive income, exchange, expiration of tax attribute carryforwards, and various tax return true-up adjustments, all of which impact deferred taxes and the related valuation allowances. In 2023, the $11 million other increase in the valuation allowance for deferred taxes is comprised of $13 million related to exchange, offset by a decrease of $2 million primarily related to other comprehensive income. In 2022, the $26 million other decrease in the valuation allowance for deferred taxes is comprised of $15 million related to exchange and $11 million primarily related to other comprehensive income. In 2021, the $46 million other decrease in the valuation allowance for deferred taxes is comprised of $28 million related to exchange and $18 million primarily related to other comprehensive income.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation:
Principles of Consolidation	Principles of Consolidation: The consolidated financial statements include the accounts of the Company and subsidiaries over which it exerts control. Investments in affiliates over which the Company does not exercise control, but does have the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method. All other investments are measured at cost, less impairment, with changes in fair value recognized in net income.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported herein. Considerable judgment is involved in making these determinations and the use of different estimates or assumptions could result in significantly different results. Management believes its assumptions and estimates are reasonable and appropriate. However, actual results could differ from those reported herein. Events and changes in circumstances arising after December 31, 2023 will be reflected in management's estimates for future periods.
Foreign Currency	Foreign Currency:
Revenue Recognition	Revenue Recognition: The Company generates revenue from the production of automotive vehicle cockpit electronics parts sold to Original Equipment Manufacturers ("OEMs") , or Tier 1 suppliers at the direction of the OEM, under long-term supply agreements supporting new vehicle production. Such agreements may also require related production for service parts subsequent to initial vehicle production periods. The Company’s contracts with customers involve various governing documents (sourcing agreements, master purchase agreements, terms and conditions agreements, etc.) which do not reach the level of a performance obligation of the Company until the Company receives either a purchase order and/or a customer release for a specific number of parts at a specified price, at which point the collective group of documents represent an enforceable contract. While the long-term supply agreements generally range from three to five years, customers make no commitments to volumes, and pricing or specifications can change prior to or during production. The Company recognizes revenue when control of the parts produced are transferred to the customer according to the terms of the contract, which is usually when the parts are shipped or delivered to the customer’s premises. Customers are generally invoiced upon shipment or delivery and payment generally occurs within 45 to 90 days and do not include significant financing components. Customers in China are often invoiced one month after shipment or delivery. Customer returns, when they occur, relate to quality rework issues and are not connected to any repurchase obligation of the Company. As of December 31, 2023, all unfulfilled performance obligations are expected to be fulfilled within the next twelve months. Revenue is measured based on the transaction price and the quantity of parts specified in a contract with a customer. Discrete price adjustments may occur during the vehicle production period in order for the Company to remain competitive with market prices or based on changes in product specifications. Some of these price adjustments are non-routine in nature and require estimation. In the event the Company concludes that a portion of the revenue for a given part may vary from the purchase order, the Company records consideration at the most likely amount to which the Company expects to be entitled based on historical experience and input from customer negotiations. The Company records such estimates within Net sales and Accounts receivable, net, within the Consolidated Statements of Operations and Consolidated Balance Sheets, respectively. The Company adjusts its pricing reserves at the earlier of when the most likely amount of consideration changes or when the consideration becomes fixed. In 2023, revenue recognized related to performance obligations satisfied in previous periods represented less than 1% of consolidated net sales. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction that are collected by the Company from a customer are excluded from revenue. Shipping and handling costs associated with outbound freight after control of the parts has transferred to a customer are accounted for as a fulfillment cost and are included in Cost of sales. Segment: The Company reports operating and financial results in a single segment based on the consolidated information used by management in evaluating the financial performance of our business and allocating resources. This single segment reflects the Company’s core business; Electronics. The Electronics segment provides vehicle cockpit electronics products to customers, including digital instrument clusters, domain controllers with integrated advanced driver assistance systems (“ADAS”), displays, Android-based infotainment systems, and battery management systems. As the Company has one reportable segment, net sales, total assets, depreciation, amortization and capital expenditures are equal to consolidated results.
Restructuring Expenses	Restructuring Expense: Restructuring expense includes costs directly associated with exit or disposal activities. Such costs include employee severance and termination benefits, special termination benefits, contract termination fees and penalties, and other exit or disposal costs. In general, the Company records involuntary employee-related exit and disposal costs when there is a substantive plan for employee severance and related costs are probable and estimable. For one-time termination benefits (i.e., no substantive plan) and employee retention costs, expense is recorded when the employees are entitled to receive such benefits and the amount can be reasonably estimated. Contract termination fees and penalties and other exit and disposal costs are generally recorded when incurred.
Debt Issuance Costs	Debt Issuance Costs: The costs related to issuance or modification of long-term debt are deferred and amortized into interest expense over the life of each respective debt issue. Deferred amounts associated with debt extinguished prior to maturity are expensed upon extinguishment.
Other Costs within Cost of Sales	Other Costs within Cost of Sales:
Net Earnings (Loss) Per Share Attributable to Visteon	Net Earnings (Loss) Per Share Attributable to Visteon:
Cash and Equivalents	Cash and Equivalents: The Company considers all highly liquid investments purchased with an original maturity of three months or less, including short-term time deposits, commercial paper, repurchase agreements, and money market funds to be cash and cash equivalents. As of December 31, 2023, the Company's cash balances are invested in a diversified portfolio of cash and highly liquid cash equivalents including money market funds and time deposits with highly rated banking institutions with maturities less than three months. The cost of such funds approximates fair value based on the nature of the investment.
Restricted Cash	Restricted Cash:
Accounts Receivable	Accounts Receivable: Accounts receivable are stated at the invoiced amount, less an allowance for doubtful accounts for estimated amounts not expected to be collected, and do not bear interest. The Company receives bank notes from certain customers in China to settle trade accounts receivable. The collection on such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. The Company may hold such bank notes until maturity, exchange them with suppliers to settle liabilities, or sell them to third-party financial institutions in exchange for cash. The Company has entered into arrangements with financial institutions to sell certain bank notes, generally maturing within nine months. Bank notes are sold with recourse but qualify as a sale as all rights to the notes have passed to the financial institution. The Company redeemed $272 million of China bank notes during the year ended December 31, 2023. Remaining amounts outstanding at third-party institutions related to sold bank notes will mature by June 30, 2024.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts: The Com pany establishes an allowance for doubtful accounts for accounts receivable based on the current expected credit loss impairment model (“CECL”). The Company applies a historical loss rate based on historic write-offs by region to aging categories. The historical loss rate will be adjusted for current conditions and reasonable and supportable forecasts of future losses, as necessary. The Company may also record a specific reserve
Inventories	Inventories:
Product Tooling	Product Tooling: Product tooling includes molds, dies, and other tools used in production of a specific part or parts of the same basic design owned either by the Company or its customers. Company owned tooling is capitalized and depreciated over the shorter of the expected useful life of the tooling or the term of the supply arrangement, generally not exceeding six years.
Contractually Reimbursable Engineering Costs	Contractually Reimbursable Engineering Costs:
Property and Equipment	Property and Equipment: Property and equipment is stated at cost or fair value for impaired assets. Property and equipment is depreciated using the straight-line method of depreciation over the related asset's estimated useful life. Asset impairment charges are recorded for assets held-in-use when events and circumstances indicate that such assets may not be recoverable and the undiscounted net cash flows estimated to be generated by those assets are less than their carrying amounts. If estimated future undiscounted cash flows are not sufficient to recover the carrying value of the assets, an impairment charge is recorded for the amount by which the carrying value of the assets exceeds fair value. Fair value is determined using appraisals, management estimates, or discounted cash flow calculations. For further detail on asset impairments see Note 3, "Restructuring and Impairments."
Leases	Leases:
Goodwill	Goodwill:
Intangible Assets	Intangible Assets: Definite-lived intangible assets are amortized over their estimated useful lives, and tested for impairment in accordance with the methodology discussed above under "Property and Equipment." Government Incentives:
Product Warranty and Recall	Product Warranty and Recall:
Income Taxes and Value Added Taxes	Income Taxes: Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company records a valuation allowance to reduce deferred tax assets when it is more likely than not that such assets will not be realized. This assessment requires significant judgment, and must be done on a jurisdiction-by-jurisdiction basis. The Company monitors the realizability of its deferred tax assets taking into account all relevant factors at each reporting period. In determining the need for a valuation allowance, all available positive and negative evidence, including historical and projected financial performance, is considered along with any other pertinent information. The Company valuation allowance assessment is based on its best estimate of future results considering all available information. The Company operates in multiple jurisdictions throughout the world and the income tax returns of its subsidiaries in various tax jurisdictions are subject to periodic examination by respective tax authorities. The Company regularly assesses the status of these examinations and the potential for adverse and/or favorable outcomes to determine the adequacy of its provision for income taxes. The Company believes that it has adequately provided for tax adjustments that it believes are more likely than not to be realized as a result of any ongoing or future examination. Accounting estimates associated with uncertain tax positions requires the Company to make judgments regarding the sustainability of each uncertain tax position based on its technical merits. If the Company determines it is more likely than not a tax position will be sustained based on its technical merits, the Company records the largest amount that is greater than 50% likely of being realized upon ultimate settlement. These estimates are updated at each reporting date based on the facts, circumstances and information available. Due to the complexity of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company's current estimate of the liabilities recorded. Accrued interest and penalties related to unrecognized tax benefits are classified as income tax expense. Value Added Taxes: The Company reports value added taxes collected from customers and remitted to government authorities, on a net basis within Cost of sales.
Financial Instruments	Financial Instruments: The Company uses derivative financial instruments, including forward contracts, swaps, and options to manage exposures to changes in currency exchange rates and interest rates. The Company's policy specifically prohibits the use of derivatives for speculative or trading purposes.
New Accounting Pronouncements	Accounting Pronouncements Not Yet Adopted Business Combinations - Joint Venture - In August 2023, the FASB issued ASU 2023-05, "Joint Venture Formation (Subtopic 805-60) - Recognition and initial measurement." to provide decision-useful information to investors and other allocators of capital (collectively, investors) in a joint venture’s financial statements and to create consistency in presentation. The amendments in this ASU are effective for fiscal years beginning after January 1, 2025 and interim periods within those fiscal years. The Company is currently evaluating the impacts of the provisions of ASU 2023-05. Disclosure Improvements - In October 2023, the FASB issued ASU 2023-06, "Disclosure Improvements (Release No. 33-10532)." The amendments in this update modify the disclosure or presentation requirements of a variety of topics in the codification. Certain of the amendments represent clarifications to or technical corrections of the current requirements. The amendments in this ASU are effective for the interim period June 30, 2027. The Company is currently evaluating the impacts of the provisions of ASU 2023-06. Segment Reporting - In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures" to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU are effective for all public entities for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The Company is currently evaluating the impacts of the provisions of ASU 2023-07. Enhanced Income Tax Disclosures - In December 2023, the FASB issued ASU No. 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 on a prospective basis and early adoption is permitted. The Company is currently evaluating the potential effect of this accounting standard update on its consolidated financial statements and related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Allowance for doubtful accounts receivable	The allowance for doubtful accounts related to accounts receivable and related activity are summarized below: December 31, (In millions) 2023 2022 2021 Balance at beginning of year $ 5 $ 4 $ 4 Provision 2 1 — Balance at end of year $ 7 $ 5 $ 4

Non-Consolidated Affiliates (Ta

Non-Consolidated Affiliates (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Summary of transactions with affiliates	A summary of transactions with affiliates is shown below: Year Ended December 31, (In millions) 2023 2022 Billings to affiliates (a) $ 45 $ 72 Purchases from affiliates (b) $ 62 $ 78 (a) Primarily relates to parts production and engineering reimbursement (b) Primarily relates to engineering services as well as selling, general and administrative expenses
Summary of investments in non-consolidated affiliates	A summary of the Company's investments in YFVIC is provided below: December 31, (In millions) 2023 2022 Payables due to YFVIC $ 24 $ 38 Exposure to loss in YFVIC Investment in YFVIC $ 8 $ 25 Receivables due from YFVIC 19 48 Maximum exposure to loss in YFVIC $ 27 $ 73 During the fourth quarter of 2022 the Company incurred approximately $19 million of charges related to program management costs and other charges associated with a joint venture. This charge is recorded within Cost of sales. The Company recorded a $9 million settlement charge related to a one-time contract dispute with a joint venture partner during the second quarter 2022. This charge is recorded within Cost of sales.

Restructuring Activities (Table

Restructuring Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of restructuring reserves and related activity	The Company’s consolidated restructuring reserves and related activity are summarized below, including amounts associated with discontinued operations. (In millions) December 31, 2020 $ 49 Expense 4 Change in estimates 1 Utilization (34) Foreign currency (2) December 31, 2021 $ 18 Expense 6 Change in estimates 3 Utilization (15) Foreign currency (1) December 31, 2022 $ 11 Expense 6 Change in estimates (1) Utilization (8) Foreign currency $ — December 31, 2023 $ 8

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories, net consist of the following components: December 31, (In millions) 2023 2022 Raw materials $ 229 $ 291 Work-in-process 32 26 Finished products 37 31 $ 298 $ 348

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Schedule of other current assets	Other current assets are comprised of the following components: December 31, (In millions) 2023 2022 Recoverable taxes $ 51 $ 55 Contractually reimbursable engineering costs 33 35 Prepaid assets and deposits 24 18 Joint venture receivables 19 49 Contractual payments 3 — Other 4 10 $ 134 $ 167
Schedule of other noncurrent assets	Other non-current assets are comprised of the following components: December 31, (In millions) 2023 2022 Contractual payments $ 22 $ 5 Contractually reimbursable engineering costs 21 25 Recoverable taxes 10 11 Other 22 21 $ 75 $ 62

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment, net consists of the following: December 31, (In millions) Estimated Useful Life (years) 2023 2022 Land $ 9 $ 9 Buildings and improvements 40 95 88 Machinery, equipment and other 3-15 772 713 Product tooling 3-5 86 72 Construction in progress 83 52 Total property and equipment 1,045 934 Accumulated depreciation and amortization (627) (570) Property and equipment, net $ 418 $ 364
Schedule of depreciation and amortization	Depreciation and product tooling amortization expenses are summarized as follows: Year Ended December 31, (In millions) 2023 2022 2021 Depreciation $ 77 $ 83 $ 88 Amortization 7 7 6 $ 84 $ 90 $ 94

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets consisted of the following: December 31, 2023 December 31, 2022 (In millions) Estimated Useful Life Estimated Weighted Average Remaining Useful Life (years) Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles Definite-Lived: Developed technology 10-12 years 4 $ 40 $ (39) $ 1 $ 40 $ (39) $ 1 Customer related 7-12 years 3 86 (83) 3 88 (77) 11 Capitalized software development 3-5 years 3 52 (24) 28 50 (16) 34 Other 10 26 (12) 14 17 (9) 8 Subtotal 204 (158) 46 195 (141) 54 Indefinite-Lived: Goodwill 44 — 44 45 — 45 Total $ 248 $ (158) $ 90 $ 240 $ (141) $ 99

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense are as follows: Year Ended December 31, (In millions) 2023 2022 2021 Operating lease expense (includes immaterial variable lease costs) $ (38) $ (36) $ (42) Short-term lease expense (2) (1) (1) Sublease income 2 2 5 Total lease expense $ (38) $ (35) $ (38) Other information related to leases is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Cash flows used for operating leases $ 36 $ 33 $ 37 Right-of-use assets obtained in exchange for lease obligations $ 11 $ 17 $ 6
Summary of future minimum lease payments	Future minimum lease payments under non-cancellable leases are as follows: (In millions) 2024 $ 34 2025 30 2026 23 2027 12 2028 6 2029 and thereafter 16 Total future minimum lease payments 121 Less imputed interest (12) Total lease liabilities $ 109

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Schedule of other current liabilities	Other current liabilities are summarized as follows: December 31, (In millions) 2023 2022 Deferred income $ 57 $ 55 Product warranty and recall 48 31 Joint venture payables 25 39 Non-income taxes payable 25 35 Income taxes payable 25 22 Royalty reserves 16 14 Restructuring reserves 5 6 Other 32 44 $ 233 $ 246
Schedule of other noncurrent liabilities	Other non-current liabilities are summarized as follows: December 31, (In millions) 2023 2022 Product warranty and recall accruals $ 23 $ 20 Deferred income 12 14 Income tax reserves 12 7 Derivative financial instruments 9 2 Restructuring reserves 3 5 Other 26 16 $ 85 $ 64

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of debt	The Company’s short and long-term debt consists of the following: Weighted Average Carrying Value (In millions) 2023 2022 2023 2022 Short-Term Debt: Current portion of long-term debt 6.53% 5.16% $ 18 $ 13 Long-Term Debt: Term facility, net 6.53% 5.16% $ 318 $ 336
Schedule of Maturities of Long-Term Debt	The principal maturities of long-term debt as of December 31, 2023 is as follows: (In millions) 2024 $ 18 2025 18 2026 18 2027 283

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of retirement plan expenses	The Company's expense for all defined benefit pension plans, is as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions, except percentages) 2023 2022 2021 2023 2022 2021 Costs Recognized in Income: Pension service cost: Service cost $ — $ — $ — $ (1) $ (1) $ (1) Pension financing benefit (cost): Interest cost (32) (20) (17) (10) (6) (5) Expected return on plan assets 41 39 37 10 9 8 Amortization of losses and other 1 (1) (3) 1 (1) (2) Settlements and curtailments — — — — — — Restructuring related pension cost: Special termination benefits — — — (1) — (1) Net pension income (expense) $ 10 $ 18 $ 17 $ (1) $ 1 $ (1) Weighted Average Assumptions: Discount rate 5.51 % 2.93 % 2.60 % 5.30 % 2.31 % 1.78 % Compensation increase NA NA N/A 2.69 % 2.30 % 2.14 % Long-term return on assets 6.87 % 6.23 % 6.15 % 4.60 % 3.70 % 3.30 %
Schedule of accumulated benefit obligations in excess of fair value of plan assets	The benefit plan obligations for employee retirement plans with accumulated benefit obligations in excess of plan assets were as follows: Year Ended December 31, (In millions) 2023 2022 Accumulated benefit obligation $ 671 $ 641 Projected benefit obligation $ 674 $ 643 Fair value of plan assets $ 529 $ 546
Schedule of accumulated and projected benefit obligations	Assumptions used by the Company in determining its defined benefit pension obligations as of December 31, 2023 and 2022 are summarized in the following table: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, Weighted Average Assumptions 2023 2022 2023 2022 Discount rate 5.16 % 5.51 % 5.07 % 5.30 % Rate of increase in compensation NA NA 2.89 % 2.69 % Cash balance interest crediting rate 4.28 % 3.13 % 1.25 % 0.95 %
Schedule of defined benefit plans disclosures	The Company’s obligation for all defined benefit pension plans, is as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions) 2023 2022 2023 2022 Change in Benefit Obligation: Benefit obligation — beginning $ 603 $ 829 $ 178 $ 299 Service cost — — 1 1 Interest cost 32 20 10 6 Actuarial loss (gain) 27 (203) 10 (99) Settlements — — (1) (1) Special termination benefits — — 1 — Foreign exchange translation — — 10 (23) Benefits paid and other (40) (43) (8) (5) Benefit obligation — ending $ 622 $ 603 $ 201 $ 178 Change in Plan Assets: Plan assets — beginning $ 532 $ 693 $ 157 $ 258 Actual return on plan assets 17 (118) 8 (80) Sponsor contributions — — 7 7 Settlements — — (1) (1) Foreign exchange translation — — 9 (21) Benefits paid and other (40) (43) (8) (6) Plan assets — ending $ 509 $ 532 $ 172 $ 157 Total funded status at end of period $ (113) $ (71) $ (29) $ (21) Balance Sheet Classification: Other non-current assets — $ — $ 3 $ 4 Accrued employee liabilities — — (1) — Employee benefits (113) (71) (31) (25) Accumulated other comprehensive loss: Actuarial loss 65 14 32 17 Tax effects/other (11) — (10) (6) $ 54 $ 14 $ 22 $ 11
Schedule of amounts recognized in other comprehensive income (loss)	Components of the net change in AOCI related to all defined benefit pension plans, exclusive of amounts attributable to non-controlling interests on the Company’s Consolidated Statements of Changes in Equity for the years ended December 31, 2023 and 2022, are as follows: U.S. Plans Non-U.S. Plans Year Ended December 31, Year Ended December 31, (In millions) 2023 2022 2023 2022 Actuarial (gain) loss $ 50 $ (44) $ 13 $ (10) Deferred taxes (11) — (4) 4 Currency/other — — 2 (3) Reclassification to net income 1 (1) 1 (1) Settlements — — (1) (1) $ 40 $ (45) $ 11 $ (11)
Schedule of expected benefit payments	Benefit payments, which reflect expected future service, are expected to be paid by the Company plans as follows: (In millions) U.S. Plans Non-U.S. Plans 2024 $ 38 $ 9 2025 39 8 2026 39 8 2027 40 9 2028 41 10 Years 2029 - 2033 221 57
Schedule of allocation of plan assets	The Company’s retirement plan asset allocation as of December 31, 2023 and 2022 and target allocation for 2024 are as follows: Target Allocation Percentage of Plan Assets U.S. Non-U.S. U.S. Non-U.S. 2024 2024 2023 2022 2023 2022 Equity securities 38 % 10 % 30 % 31 % 10 % 9 % Fixed income 28 % 64 % 17 % 11 % 65 % 65 % Alternative strategies 33 % 11 % 51 % 56 % 11 % 12 % Cash 1 % 4 % 2 % 2 % 3 % 2 % Other — % 11 % — % — % 11 % 12 % 100 % 100 % 100 % 100 % 100 % 100 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	The total recognized and unrecognized stock-based compensation expense is as follows: Year Ended December 31, Unrecognized Stock-Based Compensation Expense (In millions) 2023 2022 2021 December 31, 2023 Performance based share units $ 9 $ 7 $ 5 $ 14 Restricted stock units 27 20 12 24 Stock options — — 1 — Total stock-based compensation expense $ 36 $ 27 $ 18 $ 38
Summary of employee activity for PSUs	A summary of PSU activity is provided below: PSUs Weighted Average Grant Date Fair Value (In thousands) Non-vested as of December 31, 2020 180 $ 106.48 Granted 55 148.71 Vested (52) 131.48 Forfeited (15) 112.01 Non-vested as of December 31, 2021 168 112.24 Granted 98 164.24 Vested (86) 115.70 Forfeited (8) 141.76 Non-vested as of December 31, 2022 172 128.28 Granted 131 230.65 Vested (137) 84.52 Forfeited (7) 185.07 Non-vested as of December 31, 2023 159 $ 184.67
Schedule of valuation assumptions to estimate fair value of PSUs	eighted average assumptions used to estimate the fair value of PSUs granted during the years ended as of December 31, 2023 and 2022 are as follows: Year Ended December 31, 2023 2022 Expected volatility 51.72 % 52.12 % Risk-free rate 4.56 % 1.46 % Expected dividend yield — % — %
Summary of employee activity for RSUs	A summary of RSU activity is provided below: RSUs Weighted Average Grant Date Fair Value (In thousands) Unissued shares as of December 31, 2020 317 $ 82.31 Granted 117 124.34 Vested (106) 84.80 Forfeited (43) 88.64 Unissued shares as of December 31, 2021 285 97.68 Granted 293 115.13 Vested (171) 91.48 Forfeited (52) 107.10 Unissued shares as of December 31, 2022 355 113.41 Granted 236 157.81 Vested (161) 107.89 Forfeited (45) 136.95 Unissued shares as of December 31, 2023 385 $ 139.35
Summary of employee activity for stock options and SARs	A summary of Stock Options and SAR activity is provided below: Stock Options Weighted Average SARs Weighted Average (In thousands) (In thousands) December 31, 2020 348 $ 85.46 6 $ 74.77 Exercised (19) 80.74 (6) 74.77 Forfeited or expired (17) 89.17 — — December 31, 2021 312 85.56 — — Exercised (51) 75.05 — — December 31, 2022 261 87.62 — — Exercised (71) 91.44 — — December 31, 2023 190 $ 86.21 — $ — Exercisable at December 31, 2023 190 $ 86.21 — $ — Stock Options Exercise Price Number Outstanding Weighted Weighted (In thousands) (In years) $60.01 - $80.00 78 3.3 $ 66.98 $80.01 - $100.00 64 2.3 $ 80.97 $100.01 - $130.00 48 1.3 $ 124.35 190

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of components of the provision from continuing operations	Details of the Company's income tax benefit from continuing operations are provided in the table below: Year Ended December 31, (In millions) 2023 2022 2021 Income (Loss) Before Income Taxes: (a) U.S $ 8 $ 50 $ (26) Non-U.S. 259 126 101 Total income (loss) before income taxes $ 267 $ 176 $ 75 Current Tax Provision (Benefit): Non-U.S. $ 73 $ 45 $ 31 U.S. state and local — 1 — Total current tax provision (benefit) 73 46 31 Deferred Tax Provision (Benefit): U.S. federal $ (300) $ — $ — Non-U.S (8) (1) — U.S. state and local (13) — — Total deferred tax provision (benefit) (321) (1) — Provision for (benefit from) for income taxes $ (248) $ 45 $ 31 (a) Income (loss) before income taxes excludes equity in net income from non-consolidated affiliates.
Schedule of effective income tax rate reconciliation	A summary of the differences between the provision (benefit) for income taxes calculated at the U.S. statutory tax rate of 21% and the consolidated income tax benefit from continuing operations is shown below: Year Ended December 31, (In millions) 2023 2022 2021 Tax provision (benefit) at U.S. statutory rate of 21% $ 56 $ 37 $ 16 Impact of foreign operations 69 63 18 Non-U.S withholding taxes 17 9 8 Tax holidays in foreign operations (11) (5) (5) State and local income taxes (3) (2) — Tax reserve adjustments 3 3 2 Change in valuation allowance (377) (61) (10) Other (2) 1 2 Provision for (benefit from) for income taxes $ (248) $ 45 $ 31
Schedule of deferred tax assets and liabilities	The components of deferred income tax assets and liabilities are as follows: December 31, (In millions) 2023 2022 Deferred Tax Assets: Net operating losses and credit carryforwards $ 944 $ 1,030 Employee benefit plans 39 28 Lease liability 38 42 Fixed assets and intangibles 16 19 Warranty 15 10 Inventory 12 13 Restructuring 2 5 Capitalized expenditures 107 58 Deferred income 6 11 Other 73 49 Gross deferred tax assets 1,252 1,265 Valuation allowance (754) (1,120) Total deferred tax assets $ 498 $ 145 Deferred Tax Liabilities: Outside basis investment differences, including withholding tax $ 66 $ 61 Right-of-use assets 37 41 Fixed assets and intangibles 14 11 All other 28 17 Total deferred tax liabilities 145 130 Net deferred tax assets $ 353 $ 15 Consolidated Balance Sheet Classification: Other non-current assets $ 384 $ 42 Deferred tax liabilities non-current 31 27 Net deferred tax assets $ 353 $ 15
Summary of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Year Ended December 31, (In millions) 2023 2022 Beginning balance $ 18 $ 16 Tax positions related to current period Additions 8 3 Tax positions related to prior periods Reductions (1) (1) Ending balance $ 25 $ 18

Stock-holders' Equity and Non-c

Stock-holders' Equity and Non-controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of non-controlling interests	Non-controlling interests in Visteon Corporation are as follows: December 31, (In millions) 2023 2022 Shanghai Visteon Automotive Electronics Co., Ltd. $ 51 $ 45 Yanfeng Visteon Automotive Electronics Co., Ltd. 18 37 Changchun Visteon FAWAY Automotive Electronics Co., Ltd. 14 15 Other 2 2 $ 85 $ 99
Schedule of accumulated other comprehensive income (loss)	Changes in AOCI and reclassifications out of AOCI by component includes: Year Ended December 31, (In millions) 2023 2022 Changes in AOCI: Beginning balance $ (213) $ (229) Other comprehensive income (loss) before reclassification, net of tax (51) 9 Amounts reclassified from AOCI 10 7 Ending balance $ (254) $ (213) Changes in AOCI by component: Foreign currency translation adjustments Beginning balance $ (210) $ (149) Other comprehensive income (loss) before reclassification (a) 18 (64) Amounts reclassified from AOCI (b) — 3 Ending balance (192) (210) Net investment hedge Beginning balance 12 4 Other comprehensive income (loss) before reclassification (a) (7) 11 Amounts reclassified from AOCI (c) — (3) Ending balance 5 12 Benefit plans Beginning balance (25) (81) Other comprehensive income (loss) before reclassification, net of tax (a) (49) 54 Amounts reclassified from AOCI (2) 2 Ending balance (76) (25) Unrealized hedging gain (loss) Beginning balance 10 (3) Other comprehensive income (loss) before reclassification, net of tax (a) (13) 8 Amounts reclassified from AOCI 12 5 Ending balance 9 10 AOCI ending balance $ (254) $ (213) (a) These amounts are net of income tax effects. (b) Amount relates to foreign currency translation charge. (See Note, 20, "Other Income, net" for additional details.)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	A summary of information used to compute basic and diluted earnings per share attributable to Visteon is as follows: Year Ended December 31, (In millions, except per share amounts) 2023 2022 2021 Numerator: Net income (loss) attributable to Visteon $ 486 $ 124 $ 41 Denominator: Average common stock outstanding - basic 28.1 28.1 28.0 Dilutive effect of performance based share units and other 0.4 0.4 0.4 Diluted shares 28.5 28.5 28.4 Basic and Diluted Per Share Data: Basic earnings (loss) per share attributable to Visteon: $ 17.30 $ 4.41 $ 1.46 Diluted earnings (loss) per share attributable to Visteon: $ 17.05 $ 4.35 $ 1.44

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of fair value hierarchy for assets and liabilities measured at fair value on a recurring basis	The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis are as follows: December 31, 2023 (In millions) Level 1 Level 2 Level 3 NAV Total Asset Category: Retirement plan assets $ 93 $ 112 $ 19 $ 457 $ 681 Interest rate swaps $ — $ 7 $ — $ — $ 7 Liability Category: Cross currency swaps $ — $ 15 $ — $ — $ 15 December 31, 2022 (In millions) Level 1 Level 2 Level 3 NAV Total Asset Category: Retirement plan assets $ 7 $ 152 $ 18 $ 512 $ 689 Interest rate swaps $ — $ 10 $ — $ — 10 Liability Category: Cross currency swaps $ — $ 8 $ — $ — $ 8
Schedule of fair value of retirement plan asset	The fair values of the Company’s U.S. retirement plan assets are as follows: (In millions) December 31, 2023 Asset Category Level 1 Level 2 NAV Total Common trust funds $ — $ — $ 308 $ 308 LDI — 88 — 88 Limited partnerships and hedge funds — — 105 105 Cash and cash equivalents — 8 — 8 Total $ — $ 96 $ 413 $ 509 (In millions) December 31, 2022 Asset Category Level 1 Level 2 NAV Total Common trust funds $ — $ — $ 343 $ 343 LDI — 55 — 55 Limited partnerships and hedge funds — — 124 124 Cash and cash equivalents — 10 — 10 Total $ — $ 65 $ 467 $ 532 The fair values of the Company’s Non-U.S. retirement plan assets are as follows: (In millions) December 31, 2023 Asset Category Level 1 Level 2 Level 3 NAV Total Treasury and government securities $ 85 $ 10 $ — $ — $ 95 Bond funds — 24 — — 24 Insurance contracts — — 19 — 19 Limited partnerships — — — 11 11 Corporate debt securities — 9 — — 9 Common and preferred stock 3 — — — 3 Common trust funds — 1 — — 1 Cash and cash equivalents 1 — — — 1 Repurchase agreements — (41) — — (41) Other investment funds 4 13 — 33 50 Total $ 93 $ 16 $ 19 $ 44 $ 172 (In millions) December 31, 2022 Asset Category Level 1 Level 2 Level 3 NAV Total Treasury and government securities $ — $ 8 $ — $ — $ 8 Cash and cash equivalents 3 — — — 3 Corporate debt securities — 9 — — 9 Common and preferred stock 3 — — — 3 Common trust funds — 1 — — 1 Limited partnerships — — — 10 10 Insurance contracts — — 18 — 18 Bond Funds — 59 — — 59 Other investment funds 1 10 — 35 46 Total $ 7 $ 87 $ 18 $ 45 $ 157

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of gains and losses on derivative instruments	Financial Statement Presentation Gains and losses on derivative financial instruments for the years ended December 31, 2023 and 2022 are as follows: Amount of Gain (Loss) Recorded Income (Loss) in AOCI, net of tax Reclassified from AOCI into Income (Loss) Recorded in Income (Loss) (In millions) 2023 2022 2023 2022 2023 2022 Foreign currency risk – Cost of sales: Cash flow hedges — — — — — (3) Interest rate risk - Interest expense, net: Net investment hedges (7) 11 — 3 — — Interest rate swap (13) 8 (12) (5) — — $ (20) $ 19 $ (12) $ (2) $ — $ (3)
Summary of percentage of sales and accounts receivable	The following is a summary of the percentage of net sales and accounts receivable from the Company's customers with a percentage of net sales greater than 10 percent: Percentage of Total Net Sales Percentage of Total Accounts Receivable December 31, December 31, 2023 2022 2021 2023 2022 Ford 22 % 22 % 22 % 16 % 16 % General Motors 12 % 9 % 7 % 15 % 10 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of product warranty liability	The following table provides a reconciliation of changes in the product warranty and recall liability: Year Ended December 31, (In millions) 2023 2022 Beginning balance $ 51 $ 50 Provisions 32 21 Change in estimates 4 1 Currency/other 1 (3) Settlements (17) (18) Ending balance $ 71 $ 51

Segment Information and Reven_2

Segment Information and Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Summary of sales by geographical region	Financial information about net sales and net tangible long-lived assets by country are as follows: Net Sales (a) Tangible Long-Lived Assets, Net (b) Year Ended December 31, December 31, (In millions) 2023 2022 2021 2023 2022 United States $ 882 $ 875 $ 586 $ 105 $ 103 Mexico 109 96 55 54 50 Total North America 991 971 641 159 153 Portugal 840 867 608 105 85 Slovakia 352 347 257 29 36 Tunisia 106 69 53 37 21 Other Europe — 14 44 28 32 Total Europe 1,298 1,297 962 199 174 China Domestic 614 625 576 China Export 336 245 199 Total China 950 870 775 67 64 Japan 353 330 234 29 24 India 246 227 151 59 54 Other Asia-Pacific 92 68 39 6 9 Total Other Asia-Pacific 691 625 424 94 87 South America 173 143 80 8 10 Eliminations (149) (150) (109) $ 3,954 $ 3,756 $ 2,773 $ 527 $ 488 (a) Company sales based on geographic region where sale originates and not where customer is located. (b) Tangible long-lived assets include property, plant, and equipment and right-of-use assets.
Schedule of revenue from external customers by product lines	Disaggregated revenue by product lines is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Product Lines Instrument clusters $ 1,949 $ 1,782 $ 1,356 Cockpit domain controller 536 473 226 Infotainment 499 498 370 Information displays 367 490 402 Body and electrification electronics 314 225 134 Other 289 288 285 $ 3,954 $ 3,756 $ 2,773

Other Income, Net (Tables)

Other Income, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of other income (expense), net	Year Ended December 31, (In millions) 2023 2022 2021 Pension financing benefits, net $ 11 $ 20 $ 18 Gain on sale of investment — 3 — Foreign currency translation charge — (3) — Township settlement (12) — — $ (1) $ 20 $ 18

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Net changes in transaction price	0.01
Foreign currency transaction gain (loss)	$ (2)	$ 5	$ 2
Research and development expense	210	196	191
Restricted cash	3	3
Receivables for customer-owned production tooling	$ 22	20
Number of reportable segments | segment	1
Government Assistance, Amount	$ 1	1
Government Assistance, Amount, Cumulative, Current	$ 1	2
Technology-based intangible assets | Minimum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Technology-based intangible assets | Maximum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	5 years
Developed technology
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	4 years
Developed technology | Minimum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	10 years
Developed technology | Maximum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	12 years
Customer-related intangible assets | Minimum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	7 years
Customer-related intangible assets | Maximum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, useful life (in years)	12 years
Letter of Credit Facility
Property, Plant and Equipment [Line Items]
Restricted cash	$ 2
Cash collateral for other corporate purposes
Property, Plant and Equipment [Line Items]
Restricted cash	1
In process research and development
Property, Plant and Equipment [Line Items]
Research and development expense	$ 120	$ 145	$ 134

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Allowance for Doubtful Accounts Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 5	$ 4	$ 4
Provision	2	1	0
Balance at end of year	$ 7	$ 5	$ 4

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Revenue (Details)	Dec. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	12 months

Non-Consolidated Affiliates - N

Non-Consolidated Affiliates - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Equity in net (loss) income of non-consolidated affiliates	$ (10)	$ (1)	$ 6
YFVIC
Related Party Transaction [Line Items]
Equity method investment (percent)	50%	50%
NAV
Related Party Transaction [Line Items]
Investment commitment	$ 12		$ 15

Non-Consolidated Affiliates - I

Non-Consolidated Affiliates - Investments in Non-Consolidated Equity Method Affiliates (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Investment in YFVIC	$ 35	$ 49
YFVIC
Related Party Transaction [Line Items]
Equity method investment (percent)	50%	50%
YFVIC
Related Party Transaction [Line Items]
Investment in YFVIC	$ 8	$ 25
Limited Partnerships
Related Party Transaction [Line Items]
Investment in YFVIC	15	13
Others
Related Party Transaction [Line Items]
Investment in YFVIC	$ 12	$ 11

Non-Consolidated Affiliates - S

Non-Consolidated Affiliates - Summary of Transactions with Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related Party Transactions [Abstract]
Proceeds from Related Party Debt	$ 45	$ 72
Purchases from affiliates	$ 62	$ 78

Non-Consolidated Affiliates -_2

Non-Consolidated Affiliates - Summary of Investments in YFVIC (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Investment in YFVIC	$ 35	$ 49
Maximum exposure to loss in YFVIC	27	73
Receivables due from YFVIC
Related Party Transaction [Line Items]
Other Receivable, after Allowance for Credit Loss, Noncurrent	19	48
Other Current Liabilities
Related Party Transaction [Line Items]
Other Accounts Payable and Accrued Liabilities	24	38
YFVIC
Related Party Transaction [Line Items]
Investment in YFVIC	$ 8	$ 25

Restructuring Activities - Narr

Restructuring Activities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring reserves	$ 5	$ 6
Restructuring reserves	$ 3	$ 5
Production Related Impairments or Charges [Abstract]
Impaired Long-Lived Assets Held and Used, Asset Description	5 million	9 million
Restructuring costs	$ 5	$ 9	$ 5
2014 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring reserves	3
Production Related Impairments or Charges [Abstract]
Restructuring reserves	3
2020 Plan Accrual
Restructuring Cost and Reserve [Line Items]
Restructuring reserves	2
Production Related Impairments or Charges [Abstract]
Restructuring reserves	2
Electronics
Restructuring Cost and Reserve [Line Items]
Restructuring reserves	8	11	18	$ 49
Expense	6	$ 6	$ 4
2021 Plan Accrual
Restructuring Cost and Reserve [Line Items]
Restructuring reserves	3
Production Related Impairments or Charges [Abstract]
Restructuring reserves	3
2022 Plan
Restructuring Cost and Reserve [Line Items]
Expense	$ 5

Restructuring Activities - Summ

Restructuring Activities - Summary of Restructuring Reserves and Related Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 6
Restructuring reserve, ending balance	5	$ 6
Restructuring Costs and Asset Impairment Charges	$ 5	$ 14	$ 14
Impaired Long-Lived Assets Held and Used, Asset Description	5 million	9 million
Electronics
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 11	$ 18	49
Expense	6	6	4
Change in estimates	(1)	3	1
Utilization	(8)	(15)	(34)
Foreign currency	0	(1)	(2)
Restructuring reserve, ending balance	$ 8	$ 11	$ 18

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 229	$ 291
Work-in-process	32	26
Finished products	37	31
Inventories, net	$ 298	$ 348

Other Assets - Current Assets (

Other Assets - Current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Assets [Abstract]
Recoverable taxes	$ 51	$ 55
Contractually reimbursable engineering costs	33	35
Prepaid assets and deposits	24	18
Joint venture receivables	19	49
Prepaid Expense and Other Assets, Current	3	0
Other	4	10
Total other current assets	$ 134	$ 167

Other Assets - Narrative (Detai

Other Assets - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Other Assets [Abstract]
Amount of China bank notes sold	$ 272
Reimbursement for engineering costs in year one	33
Reimbursement for engineering costs expected in year two	15
Reimbursement for engineering costs expected in year three	5
Reimbursement for engineering costs expected in year four	1
Reimbursement for engineering costs expected in year five and beyond	$ 1

Other Assets - Noncurrent Asset

Other Assets - Noncurrent Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Assets [Abstract]
Prepaid Expense and Other Assets, Noncurrent	$ 22	$ 5
Contractually reimbursable engineering costs	21	25
Recoverable taxes	10	11
Other	22	21
Total other noncurrent assets	$ 75	$ 62

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land	$ 9	$ 9
Buildings and improvements	95	88
Machinery, equipment and other	772	713
Construction in progress	83	52
Product tooling	86	72
Total property and equipment	1,045	934
Accumulated depreciation and amortization	(627)	(570)
Property and equipment, net	418	364
Property and equipment, net	$ 418	$ 364
Product Tooling | Minimum
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Product Tooling | Maximum
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Useful Life	5 years
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Useful Life	3 years
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Useful Life	15 years
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years
Buildings and improvements
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Useful Life	40 years
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years

Property and Equipment - Summ_2

Property and Equipment - Summary of Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation	$ 77	$ 83	$ 88
Amortization	7	7	6
Depreciation and Amortization Expense	$ 84	$ 90	$ 94

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Impairments	$ 0	$ 5	$ 9
Capitalized internal use software costs	8
Amortization expense of capitalized internal use software costs	3	$ 5	$ 8
Amortization expense, 2022	12
Amortization expense, 2023	12
Amortization expense, 2024	10
Amortization expense, 2025	6
Amortization expense, 2026	1
Capitalized software development
Property, Plant and Equipment [Line Items]
Amortization expense, 2022	3
Amortization expense, 2023	2
Amortization expense, 2024	2
Amortization expense, 2025	$ 1

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, gross	$ 204	$ 195
Accumulated amortization	(158)	(141)
Intangible assets, net	46	54
Goodwill and Indefinite-lived Intangible Assets [Abstract]
Goodwill, gross	44	45
Goodwill, net	44	45
Total goodwill and intangible assets, gross	248	240
Total goodwill and intangible assets, net	$ 90	99
Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	4 years
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, gross	$ 40	40
Accumulated amortization	(39)	(39)
Intangible assets, net	$ 1	1
Developed technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	10 years
Developed technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	12 years
Customer related
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	3 years
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, gross	$ 86	88
Accumulated amortization	(83)	(77)
Intangible assets, net	$ 3	11
Capitalized software development
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	3 years
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, gross	$ 52	50
Accumulated amortization	(24)	(16)
Intangible assets, net	$ 28	34
Other
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	10 years
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets, gross	$ 26	17
Accumulated amortization	(12)	(9)
Intangible assets, net	$ 14	$ 8
Customer-related intangible assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	7 years
Customer-related intangible assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	12 years
Technology-based intangible assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	3 years
Technology-based intangible assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Weighted Average Remaining Useful Life (years)	5 years

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Amortization expense, 2022	$ 12
Amortization expense, 2023	12
Amortization expense, 2024	10
Amortization expense, 2025	6
Amortization expense, 2026	1
Electronics
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ (19)	$ (18)	$ 14

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Weighted average remaining lease term	4 years	5 years
Weighted average discount rate (percent)	4.14%	4.03%

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease, Cost [Abstract]
Operating lease expense (includes immaterial variable lease costs)	$ (38)	$ (36)	$ (42)
Short-term lease expense	(2)	(1)	(1)
Sublease income	2	2	5
Total lease expense	(38)	(35)	(38)
Cash flows used for operating leases	36	33	37
Right-of-use assets obtained in exchange for lease obligations	$ 11	$ 17	$ 6

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 34
2025	30
2026	23
2027	12
2028	6
2029 and thereafter	16
Total future minimum lease payments	121
Less imputed interest	(12)
Total lease liabilities	$ 109

Other Liabilities - Other Curre

Other Liabilities - Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Product warranty and recall	$ 48	$ 31
Non-income taxes payable	57	55
Restructuring reserves	5	6
Non-income taxes payable	25	35
Royalty reserves	16	14
Joint venture payables	25	39
Income taxes payable	25	22
Other	32	44
Total other current liabilities	$ 233	$ 246

Other Liabilities - Other Noncu

Other Liabilities - Other Noncurrent Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Deferred income	$ 12	$ 14
Product warranty and recall accruals	23	20
Income tax reserves	12	7
Derivative financial instruments	9	2
Restructuring reserves	3	5
Other	26	16
Total other noncurrent liabilities	$ 85	$ 64

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Term facility, net
Long-Term Debt:
Weighted Average Interest Rate (percent)	6.53%	5.16%
Carrying Value	$ 318	$ 336
Current portion of long-term debt
Short-Term Debt:
Long-Term Debt, Weighted Average Interest Rate, at Point in Time	6.53%	5.16%
Long-Term Debt and Lease Obligation, Current	$ 18	$ 13

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.25%
Amended LOC agreement facility capacity	$ 4
Required collateral equal to the aggregate stated amount of the LOCs (percent)	103%
LOC collateral percentage for draws in non-U.S. currencies (percent)	110%
Amount secured by cash collateral	$ 2
Debt Instrument, collateral amount	$ 2	$ 3
Deferred Debt Issuance Cost, Writeoff		1
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums		2
Minimum
Debt Instrument [Line Items]
Financial maintenance covenant	100%
Maximum
Debt Instrument [Line Items]
Financial maintenance covenant	350%
SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1%
SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.75%
Term facility, net
Debt Instrument [Line Items]
Face amount		350
Revolving Credit Facility
Debt Instrument [Line Items]
Face amount		$ 400
Maximum borrowing capacity, swing line advances	$ 20
Line of Credit Facility, Remaining Borrowing Capacity	151
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity, revolving credit facility	$ 75

Employee Benefit Plans - Benefi

Employee Benefit Plans - Benefit Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Plans
Costs Recognized in Income:
Service cost	$ 0	$ 0	$ 0
Interest cost	(32)	(20)	(17)
Expected return on plan assets	41	39	37
Amortization of losses and other	1	(1)	(3)
Settlements and curtailments	0	0	0
Special termination benefits	0	0	0
Net pension income (expense)	$ 10	$ 18	$ 17
U.S. Plans | Weighted Average
Weighted Average Assumptions:
Discount rate	5.51%	2.93%	2.60%
Long-term return on assets	6.87%	6.23%	6.15%
Non-U.S. Plans
Costs Recognized in Income:
Service cost	$ (1)	$ (1)	$ (1)
Interest cost	(10)	(6)	(5)
Expected return on plan assets	10	9	8
Amortization of losses and other	1	(1)	(2)
Settlements and curtailments	0	0	0
Special termination benefits	(1)	0	(1)
Net pension income (expense)	$ (1)	$ 1	$ (1)
Weighted Average Assumptions:
Compensation increase	2.89%	2.69%
Non-U.S. Plans | Weighted Average
Weighted Average Assumptions:
Discount rate	5.30%	2.31%	1.78%
Compensation increase	2.69%	2.30%	2.14%
Long-term return on assets	4.60%	3.70%	3.30%

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer, Deferred	$ 7
Matching contribution	100%
Matching Contribution, percent of employees pay	6%
Defined Contribution Plan, matching contribution expenses	$ 6	$ 3	$ 6
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate (percent)	1.20%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Discount rate (percent)	11.50%
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Settlements	$ (1)	(1)
Cash contributions by employer	$ 7	$ 7
Discount rate (percent)	5.07%	5.30%
Defined Contribution Plan, matching contribution expenses	$ 7
Other postretirement benefit obligations	201	$ 178	$ 299
Defined Contribution Plan [Abstract]
Estimated future employer contributions in next fiscal year	2
Other Pension, Postretirement and Supplemental Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligations	$ 818	$ 777

Employee Benefit Plans - Other

Employee Benefit Plans - Other Postretirement Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accumulated benefit obligation	$ 671	$ 641
Projected benefit obligation	674	643
Fair value of plan assets	529	546
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 172	$ 157	$ 258
Weighted Average Assumptions:
Discount rate (percent)	5.07%	5.30%
Rate of increase in compensation (percent)	2.89%	2.69%
Cash balance interest crediting rate	1.25%	0.95%
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 509	$ 532	$ 693
Weighted Average Assumptions:
Discount rate (percent)	5.16%	5.51%
Cash balance interest crediting rate	4.28%	3.13%

Employee Benefit Plans - Change

Employee Benefit Plans - Change in Benefit Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in Plan Assets:
Plan assets — beginning	$ 546
Plan assets — ending	529	$ 546
Accumulated other comprehensive loss:
Defined Contribution Plan, matching contribution expenses	6	3	$ 6
U.S. Plans
Change in Benefit Obligation:
Benefit obligation — beginning	603	829
Service cost	0	0	0
Interest cost	32	20	17
Actuarial loss (gain)	27	(203)
Settlements	0	0
Special termination benefits	0	0	0
Foreign exchange translation	0	0
Benefits paid and other	(40)	(43)
Benefit obligation — ending	622	603	829
Change in Plan Assets:
Plan assets — beginning	532	693
Actual return on plan assets	17	(118)
Settlements	0	0
Foreign exchange translation	0	0
Benefits paid and other	(40)	(43)
Plan assets — ending	509	532	693
Total funded status at end of period	(113)	(71)
Accumulated other comprehensive loss:
Actuarial loss	65	14
Tax effects/other	(11)	0
Accumulated other comprehensive income (loss)	54	14
U.S. Plans | Other non-current assets
Balance Sheet Classification:
Other non-current assets	0	0
U.S. Plans | Accrued Employee Liabilities
Balance Sheet Classification:
Accrued employee liabilities	0	0
U.S. Plans | Employee Benefits
Balance Sheet Classification:
Employee benefits	(113)	(71)
Non-U.S. Plans
Change in Benefit Obligation:
Benefit obligation — beginning	178	299
Service cost	1	1	1
Interest cost	10	6	5
Actuarial loss (gain)	10	(99)
Settlements	(1)	(1)
Special termination benefits	1	0	1
Foreign exchange translation	10	(23)
Benefits paid and other	(8)	(5)
Benefit obligation — ending	201	178	299
Change in Plan Assets:
Plan assets — beginning	157	258
Actual return on plan assets	8	(80)
Sponsor contributions	7	7
Settlements	(1)	(1)
Foreign exchange translation	9	(21)
Benefits paid and other	(8)	(6)
Plan assets — ending	172	157	$ 258
Total funded status at end of period	(29)	(21)
Accumulated other comprehensive loss:
Actuarial loss	32	17
Tax effects/other	(10)	(6)
Accumulated other comprehensive income (loss)	22	11
Defined Contribution Plan, matching contribution expenses	7
Non-U.S. Plans | Other non-current assets
Balance Sheet Classification:
Other non-current assets	3	4
Non-U.S. Plans | Accrued Employee Liabilities
Balance Sheet Classification:
Accrued employee liabilities	(1)
Non-U.S. Plans | Employee Benefits
Balance Sheet Classification:
Employee benefits	$ (31)	$ (25)

Employee Benefit Plans - Accumu

Employee Benefit Plans - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Currency/other	$ (15)	$ 66	$ 31
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial (gain) loss	50	(44)
Benefit plans, tax (benefit) expense	(11)	0
Currency/other	0	0
Reclassification to net income	1	(1)
Settlements	0	0
Accumulated other comprehensive income (loss), net of tax	40	(45)
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial (gain) loss	13	(10)
Benefit plans, tax (benefit) expense	(4)	4
Currency/other	2	(3)
Reclassification to net income	1	(1)
Settlements	(1)	(1)
Accumulated other comprehensive income (loss), net of tax	$ 11	$ (11)

Employee Benefit Plans - Future

Employee Benefit Plans - Future Benefit Payments (Details) $ in Millions	Dec. 31, 2023 USD ($)
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 38
2025	39
2026	39
2027	40
2028	41
Years 2029 - 2033	221
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	9
2025	8
2026	8
2027	9
2028	10
Years 2029 - 2033	$ 57

Employee Benefit Plans - Asset

Employee Benefit Plans - Asset Allocation (Details)	Dec. 31, 2023	Dec. 31, 2022
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	100%
Percentage of Plan Assets	100%	100%
U.S. Plans | Common and preferred stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	38%
Percentage of Plan Assets	30%	31%
U.S. Plans | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	28%
Percentage of Plan Assets	17%	11%
U.S. Plans | Other investment funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	33%
Percentage of Plan Assets	51%	56%
U.S. Plans | Cash
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	1%
Percentage of Plan Assets	2%	2%
U.S. Plans | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	0%
Percentage of Plan Assets	0%	0%
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	100%
Percentage of Plan Assets	100%	100%
Non-U.S. Plans | Common and preferred stock
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	10%
Percentage of Plan Assets	10%	9%
Non-U.S. Plans | Fixed income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	64%
Percentage of Plan Assets	65%	65%
Non-U.S. Plans | Other investment funds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	11%
Percentage of Plan Assets	11%	12%
Non-U.S. Plans | Cash
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	4%
Percentage of Plan Assets	3%	2%
Non-U.S. Plans | Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target Allocation	11%
Percentage of Plan Assets	11%	12%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details)	Dec. 31, 2023 shares
2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2010 Incentive Plan, number of shares authorized	1,500,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 36	$ 27	$ 18
Unrecognized compensation expense	38
Performance based share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	9	7	5
Unrecognized compensation expense	14
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	27	20	12
Unrecognized compensation expense	24
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	$ 0	$ 1
Unrecognized compensation expense	$ 0

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Based Share Units Narrative (Details) - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 38
Performance based share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 14
Outstanding shares (in shares)	159	172	168	180
Performance based units equity award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 13
Weighted average remaining vesting period (in years)	1 year 10 months 24 days
Performance based units liability award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining vesting period (in years)	1 year 9 months 18 days
Cash settlement payments	$ 1	$ 1
Outstanding shares (in shares)	1,000

Stock-Based Compensation - Pe_2

Stock-Based Compensation - Performance Based Share Units (Details) - Performance based share units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
PSUs
Non-vested at beginning of period (in shares)	172	168	180
Granted (in shares)	131	98	55
Vested (in shares)	(137)	(86)	(52)
Forfeited (in shares)	(7)	(8)	(15)
Non-vested at end of period (in shares)	159	172	168
Weighted Average Grant Date Fair Value
Weighted average grant date fair value beginning of period (in dollars per share)	$ 128.28	$ 112.24	$ 106.48
Weighted average exercise price, Granted (in dollars per share)	230.65	164.24	148.71
Weighted average exercise price, Vested (in dollars per share)	84.52	115.70	131.48
Weighted average exercise price, Forfeited (in dollars per share)	185.07	141.76	112.01
Weighted average grant date fair value ending of period (in dollars per share)	$ 184.67	$ 128.28	$ 112.24
Weighted Average Assumptions
Expected volatility	51.72%	52.12%
Risk-free interest rate	4.56%	1.46%
Expected dividend yield	0%	0%

Stock-Based Compensation - RSUs

Stock-Based Compensation - RSUs Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted stock units equity award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period ( in years)	3 years
Granted (in shares)	221	276	110
Weighted average exercise price, Granted (in dollars per share)	$ 159.95	$ 114.17	$ 116.71
Restricted stock units liability award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	15	15
Weighted average exercise price, Granted (in dollars per share)	$ 125.30	$ 130.47	$ 112.52
Weighted average remaining vesting period (in years)	1 year 6 months
Restricted stock units liability award | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 22
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	236	293	117
Weighted average exercise price, Granted (in dollars per share)	$ 157.81	$ 115.13	$ 124.34
Unrecognized compensation expense	$ 2
Weighted average remaining vesting period (in years)	1 year 8 months 12 days
Cash settlement payments	$ 1	$ 1	$ 1
Outstanding shares (in shares)	385	355	285	317
Weighted average grant date fair value (in dollars per share)	$ 139.35	$ 113.41	$ 97.68	$ 82.31
Restricted stock units | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares (in shares)	89
Weighted average grant date fair value (in dollars per share)	$ 103.27

Stock-Based Compensation - RS_2

Stock-Based Compensation - RSUs (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Weighted Average Grant Date Fair Value
Share-based Compensation Arrangement by Share-based Payment Award, Description		17,000	6,000
Restricted stock units
RSUs
Non-vested at beginning of period (in shares)	355	285	317
Granted (in shares)	236	293	117
Vested (in shares)	161	171	106
Forfeited (in shares)	(45)	(52)	(43)
Non-vested at end of period (in shares)	385	355	285
Weighted Average Grant Date Fair Value
Weighted average grant date fair value beginning of period (in dollars per share)	$ 113.41	$ 97.68	$ 82.31
Weighted average exercise price, Granted (in dollars per share)	157.81	115.13	124.34
Weighted average exercise price, Vested (in dollars per share)	107.89	91.48	84.80
Weighted average exercise price, Forfeited (in dollars per share)	136.95	107.10	88.64
Weighted average grant date fair value ending of period (in dollars per share)	$ 139.35	$ 113.41	$ 97.68

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options and SARs Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of stock options	$ 8	$ 0	$ 0
Unrecognized compensation expense	38
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of stock options	6	2	2
Intrinsic value of options exercised	4	$ 3	$ 1
Unrecognized compensation expense	$ 0
Minimum | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date of options	7 years
Maximum | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date of options	10 years

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options and SARs (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Exercise Price
Number of outstanding options (in shares)	190
$60.01 - $80.00
Exercise Price
Exercise price range, lower (in dollars per share)	$ 80
Exercise price range, upper (in dollars per share)	$ 60.01
Number of outstanding options (in shares)	78
Weighted average remaining life (in years)	3 years 3 months 18 days
Weighted average exercise price (in dollars per share)	$ 66.98
$80.01 - $100.00
Exercise Price
Exercise price range, lower (in dollars per share)	80.01
Exercise price range, upper (in dollars per share)	$ 100
Number of outstanding options (in shares)	64
Weighted average remaining life (in years)	2 years 3 months 18 days
Weighted average exercise price (in dollars per share)	$ 80.97
$100.01 - $130.00
Exercise Price
Exercise price range, lower (in dollars per share)	100.01
Exercise price range, upper (in dollars per share)	$ 130
Number of outstanding options (in shares)	48
Weighted average remaining life (in years)	1 year 3 months 18 days
Weighted average exercise price (in dollars per share)	$ 124.35
Stock options
Stock Options
Outstanding options, beginning of period (in shares)	261	312	348
Exercised (in shares)	(71)	(51)	(19)
Forfeited or expired (in shares)			(17)
Outstanding options, end of period (in shares)	190	261	312
Weighted Average Exercise Price
Weighted average exercise price, beginning (in dollars per share)	$ 87.62	$ 85.56	$ 85.46
Weighted average exercise price, exercised (in dollars per share)	91.44	75.05	80.74
Weighted average exercise price, Forfeited or expired (in dollars per share)			89.17
Weighted average exercise price, ending (in dollars per share)	$ 86.21	$ 87.62	$ 85.56
Exercisable (in shares)	190
Weighted average exercise price, exercisable (in dollars per share)	$ 86.21
Stock appreciation rights
SARs
Non-vested at beginning of period (in shares)			6
Exercised (in shares)		0	(6)
Forfeited or expired (in shares)			0
Exercisable (in shares)	0
Weighted average exercise price, exercisable (in dollars per share)	$ 0
Weighted Average Exercise Price
Weighted average exercise price, beginning (in dollars per share)			$ 74.77
Weighted average exercise price, exercised (in dollars per share)	$ 0	$ 0	74.77
Weighted average exercise price, forfeited or expired (in dollars per share)			$ 0

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision from Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Total income (loss) before income taxes	$ 267	$ 176	$ 75
Tax adjustments related to income tax expense	73	46	31
Total deferred tax provision (benefit)	(321)	(1)
Provision for (benefit from) for income taxes	(248)	45	31
U.S
Income Tax Examination [Line Items]
Total income (loss) before income taxes	8	50	(26)
Non-U.S. deferred tax provision (benefit)	(300)	0	0
Non-U.S.
Income Tax Examination [Line Items]
Total income (loss) before income taxes	259	126	101
Non-U.S. current tax provision	73	45	31
Non-U.S. deferred tax provision (benefit)	(8)	(1)
U.S. Plans
Income Tax Examination [Line Items]
Non-U.S. current tax provision	0	1
Non-U.S. deferred tax provision (benefit)	$ (13)	$ 0	$ 0

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
U.S. statutory income tax rate (percent)	21%
Tax provision (benefit) at U.S. statutory rate of 21%	$ 56	$ 37	$ 16
Impact of foreign operations	69	63	18
Non-U.S withholding taxes	17	9	8
Tax holidays in foreign operations	(11)	(5)	(5)
Deferred State and Local Income Tax Expense (Benefit)	(3)	(2)	0
Tax reserve adjustments	3	3	2
Change in valuation allowance	(377)	(61)	(10)
Other	(2)	1	2
Provision for (benefit from) for income taxes	$ (248)	$ 45	$ 31

Income Taxes - Income Tax Pro_2

Income Taxes - Income Tax Provision Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Provision for (benefit from) for income taxes	$ (248)	$ 45	$ 31
Impact of foreign operations	(69)	(63)	(18)
Other	(2)	1	2
Change in valuation allowance	(377)	(61)	(10)
Tax adjustments related to income tax expense	73	46	31
Valuation Allowance, increase (decrease)	313	0	0
Tax reserve adjustments	3	3	2
Tax holidays in foreign operations	(11)	(5)	(5)
Deferred Income Tax Liabilities, Net	31	27
Unrecognized tax benefits that would impact effective tax rate	18	10
Non-U.S withholding taxes	17	9	8
GiLTI [Member]
Income Tax Examination [Line Items]
Impact of foreign operations	24	11	9
Tax expense related to uncertain tax position [Member]
Income Tax Examination [Line Items]
Unrecognized tax benefits that would impact effective tax rate	2
Foreign income tax [Member]
Income Tax Examination [Line Items]
Impact of foreign operations	2	3
Non-U.S withholding taxes			(6)
Prior year return adjustment to deduct foreign taxes
Income Tax Examination [Line Items]
Non-U.S withholding taxes	(39)	(44)	(2)
Rates higher than US statutory rate [Member]
Income Tax Examination [Line Items]
Tax holidays in foreign operations	(4)
Non-U.S withholding taxes		(5)	(1)
Foreign operations VA [Member]
Income Tax Examination [Line Items]
Tax holidays in foreign operations		$ (58)	$ (17)
Non-US
Income Tax Examination [Line Items]
Outstanding income tax refund	$ 7

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets And Liabilities Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Deferred tax liabilities	$ 145	$ 130
Valuation Allowance, increase (decrease)	313	0	$ 0
Non-U.S. net operating loss carryforwards	355
Deferred tax assets, capital loss carryforwards	17
U.S. research tax credit carryforwards	26
Annual limitations under IRC Section 382 and 383	121
Impact of foreign operations	69	63	18
Provision for (benefit from) for income taxes	(248)	45	31
Unrecognized tax benefits that would impact effective tax rate	18	10
Liability for uncertainty in income taxes, current	5
Non-U.S withholding taxes	17	9	8
Deferred Income Tax Liabilities, Net	31	27
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Noncurrent	28	24
GiLTI [Member]
Operating Loss Carryforwards [Line Items]
Impact of foreign operations	(24)	(11)	(9)
Prior year return adjustment to deduct foreign taxes
Operating Loss Carryforwards [Line Items]
Non-U.S withholding taxes	(39)	$ (44)	$ (2)
Non-U.S.
Operating Loss Carryforwards [Line Items]
Non-U.S. net operating loss carryforwards	1,400
U.S
Operating Loss Carryforwards [Line Items]
U.S. net operating loss carryforwards	1,100
U.S. foreign tax credit carryforwards	304
State and local jurisdiction
Operating Loss Carryforwards [Line Items]
U.S. net operating loss carryforwards	$ 30

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets:
Net operating losses and credit carryforwards	$ 944	$ 1,030
Employee benefit plans	39	28
Lease liability	38	42
Fixed assets and intangibles	16	19
Warranty	15	10
Inventory	12	13
Restructuring	2	5
Capitalized expenditures	107	58
Deferred income	6	11
Other	73	49
Valuation allowance	(754)	(1,120)
Total deferred tax assets	498	145
Deferred Tax Liabilities:
Outside basis investment differences, including withholding tax	66	61
Right-of-use assets	37	41
Fixed assets and intangibles	14	11
All other	28	17
Total deferred tax liabilities	145	130
Net deferred tax assets	353	15
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Noncurrent	28	24
Other non-current assets
Deferred Tax Liabilities:
Other non-current assets	384	42
Other non-current liabilities
Deferred Tax Liabilities:
Deferred tax liabilities non-current	$ 31	$ 27

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 25	$ 18	$ 16
Unrecognized tax benefits that would impact effective tax rate	18	10
Tax adjustments related to income tax expense	(73)	$ (46)	$ (31)
Liability for uncertain tax positions, non-current	12
Liability for uncertainty in income taxes, current	$ 5

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning balance	$ 18	$ 16
Tax positions related to current period, additions	8	3
Tax positions related to prior periods, Reductions	(1)	(1)
Unrecognized tax benefits, ending balance	$ 25	$ 18

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred Income Tax Liabilities, Net	$ 31	$ 27

Stockholders' Equity and Non-_2

Stockholders' Equity and Non-controlling Interests - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Repurchase of common stock	$ 107,000,000
Non-controlling interests	$ 85,000,000	$ 99,000,000
Treasury Stock, Common, Shares	27,354,274	26,825,830
Share repurchase authorized amount	$ 300,000,000
Stock repurchased during period (in shares)	783,290
Treasury Stock, Value	$ 135.22
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	194,000,000
Other
Class of Warrant or Right [Line Items]
Non-controlling interests	$ 2,000,000	$ 2,000,000

Stockholders' Equity and Non-_3

Stockholders' Equity and Non-controlling Interests - Schedule of Non-controlling Interests (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 85	$ 99
Yanfeng Visteon Automotive Electronics Co., Ltd.
Noncontrolling Interest [Line Items]
Non-controlling interests	18	37
Shanghai Visteon Automotive Electronics Co., Ltd.
Noncontrolling Interest [Line Items]
Non-controlling interests	51	45
Changchun Visteon FAWAY Automotive Electronics Co., Ltd.
Noncontrolling Interest [Line Items]
Non-controlling interests	14	15
Other
Noncontrolling Interest [Line Items]
Non-controlling interests	$ 2	$ 2

Stockholders' Equity and Non-_4

Stockholders' Equity and Non-controlling Interests - AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	$ (213)
Accumulated other comprehensive income (loss), ending balance	(254)	$ (213)
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(213)	(229)
Other comprehensive income (loss) before reclassification, net of tax	(51)	9
Amounts reclassified from AOCI	10	7
Accumulated other comprehensive income (loss), ending balance	(254)	(213)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(210)	(149)
Other comprehensive income (loss) before reclassification, net of tax	18	(64)
Accumulated other comprehensive income (loss), ending balance	(192)	(210)
Foreign currency translation adjustments | Net investment hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	12	4
Other comprehensive income (loss) before reclassification, net of tax	(7)	11
Other Comprehensive Income (Loss) before Reclassifications, Tax	0	3
Amounts reclassified from AOCI	0	(3)
Accumulated other comprehensive income (loss), ending balance	5	12
Benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	(25)	(81)
Other comprehensive income (loss) before reclassification, net of tax	(49)	54
Amounts reclassified from AOCI	(2)	2
Accumulated other comprehensive income (loss), ending balance	(76)	(25)
Unrealized hedging gain (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss), beginning balance	10	(3)
Other comprehensive income (loss) before reclassification, net of tax	(13)	8
Amounts reclassified from AOCI	12	5
Accumulated other comprehensive income (loss), ending balance	$ 9	$ 10

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income (loss) attributable to Visteon Corporation	$ 486	$ 124	$ 41
Denominator:
Average common stock outstanding - basic (in shares)	28.1	28.1	28
Dilutive effect of performance based share units and other (in shares)	0.4	0.4	0.4
Diluted shares (in shares)	28.5	28.5	28.4
Basic and Diluted Per Share Data:
Basic earnings per share (in dollars per share)	$ 17.30	$ 4.41	$ 1.46
Diluted earnings per share (in dollars per share)	$ 17.05	$ 4.35	$ 1.44

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Impairments	$ 0	$ 5	$ 9
Fair value of debt	$ 328	$ 336

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Asset Category:
Retirement plan assets	$ 529	$ 546
Fair value measurements, recurring | Estimate of fair value measurement
Asset Category:
Retirement plan assets	681	689
Interest rate swaps	7	10
Liability Category:
Cross currency swaps	15	8
Level 1 | Fair value measurements, recurring
Asset Category:
Retirement plan assets	93	7
Interest rate swaps	0	0
Liability Category:
Cross currency swaps	0	0
Level 2 | Fair value measurements, recurring
Asset Category:
Retirement plan assets	112	152
Interest rate swaps	7	10
Liability Category:
Cross currency swaps	15	8
Level 3 | Fair value measurements, recurring
Asset Category:
Retirement plan assets	19	18
Interest rate swaps	0	0
Liability Category:
Cross currency swaps	0	0
NAV | Fair value measurements, recurring
Asset Category:
Interest rate swaps	0	0
NAV | Fair value measurements, recurring | Estimate of fair value measurement
Asset Category:
Retirement plan assets	457	512
Liability Category:
Cross currency swaps	$ 0	$ 0

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Values of Retirement Plan Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	$ 529	$ 546
U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	509	532	$ 693
Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	172	157	$ 258
Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	172	157
Treasury and government securities | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	95	8
Cash and cash equivalents | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	8	10
Cash and cash equivalents | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1	3
Corporate debt securities | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	9	9
Common and preferred stock | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3	3
Common trust funds | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	308	343
Common trust funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1	1
Limited partnerships | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	105	124
Limited partnerships | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	11	10
Insurance contracts | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	19	18
Bond Funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		59
LDI | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	88	55
Bond funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	24
Other investment funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	50	46
Repurchase Agreements [Member] | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	(41)
Level 1 | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	93	7
Level 1 | Treasury and government securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	85
Level 1 | Cash and cash equivalents | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Cash and cash equivalents | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1	3
Level 1 | Corporate debt securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Common and preferred stock | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3	3
Level 1 | Common trust funds | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Common trust funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Limited partnerships | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Limited partnerships | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Insurance contracts | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Bond Funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		0
Level 1 | LDI | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 1 | Bond funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
Level 1 | Other investment funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	4	1
Level 2 | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	96	65
Level 2 | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	16	87
Level 2 | Treasury and government securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	10	8
Level 2 | Cash and cash equivalents | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	8	10
Level 2 | Cash and cash equivalents | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
Level 2 | Corporate debt securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	9	9
Level 2 | Common and preferred stock | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 2 | Common trust funds | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
Level 2 | Common trust funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1	1
Level 2 | Limited partnerships | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 2 | Limited partnerships | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 2 | Insurance contracts | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 2 | Bond Funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		59
Level 2 | LDI | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	88	55
Level 2 | Bond funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	24
Level 2 | Other investment funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	13	10
Level 2 | Repurchase Agreements [Member] | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	(41)
Level 3 | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	19	18
Level 3 | Treasury and government securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Cash and cash equivalents | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Corporate debt securities | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Common and preferred stock | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Common trust funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Limited partnerships | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Insurance contracts | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	19	18
Level 3 | Bond Funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		0
Level 3 | Bond funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
Level 3 | Other investment funds | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
Level 3 | Repurchase Agreements [Member] | Non-U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
NAV | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	413	467
NAV | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	44	45
NAV | Treasury and government securities | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Cash and cash equivalents | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Cash and cash equivalents | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Corporate debt securities | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Common and preferred stock | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Common trust funds | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	308	343
NAV | Limited partnerships | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	105	124
NAV | Limited partnerships | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	11	10
NAV | Insurance contracts | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Bond Funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		0
NAV | LDI | U.S. Plans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0	0
NAV | Bond funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	0
NAV | Other investment funds | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	33	$ 35
NAV | Repurchase Agreements [Member] | Non-U.S. Plans | Estimate of fair value measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	$ 0

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative, Cash Received on Hedge		$ 9
Cash Flow Hedge Gain (Loss) to be Reclassified within 12 Months	$ 7
Derivative Liability, Notional Amount		32
2024
Derivative [Line Items]
Long-Term Debt, Maturities, Repayment Terms	18
2025
Derivative [Line Items]
Long-Term Debt, Maturities, Repayment Terms	18
2026
Derivative [Line Items]
Long-Term Debt, Maturities, Repayment Terms	18
2027
Derivative [Line Items]
Long-Term Debt, Maturities, Repayment Terms	283
Receivables due from YFVIC
Derivative [Line Items]
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion	$ 3
Other non-current liabilities
Derivative [Line Items]
Derivative, fair value (less than)	15	8
Fair Value, Nonrecurring
Derivative [Line Items]
Derivative, fair value (less than)	7	$ 10
Net investment hedge
Derivative [Line Items]
Derivative, notional amount	200
Interest rate swap
Derivative [Line Items]
Derivative, notional amount	$ 250

Financial Instruments - Derivat

Financial Instruments - Derivatives Income Statement Location (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Loss	$ 0	$ (3)
Fair Value, Nonrecurring
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, fair value (less than)	7	10
Other non-current liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, fair value (less than)	15	8
Interest rate risk
Derivative Instruments, Gain (Loss) [Line Items]
Recorded Income (Loss) in AOCI, net of tax	(20)	19
Reclassified from AOCI into Income (Loss)	(12)	(2)
Recorded in Income (Loss)	0	(3)
Cash flow hedges | Foreign exchange contract | Fair value hedging
Derivative Instruments, Gain (Loss) [Line Items]
Recorded Income (Loss) in AOCI, net of tax	0	0
Cash flow hedges | Foreign exchange contract | Cost of sales | Fair value hedging
Derivative Instruments, Gain (Loss) [Line Items]
Reclassified from AOCI into Income (Loss)	0	0
Designated as hedging instrument | Interest rate risk | Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Recorded Income (Loss) in AOCI, net of tax	(7)	11
Reclassified from AOCI into Income (Loss)	0	3
Designated as hedging instrument | Interest rate risk | Cost of sales | Net investment hedges
Derivative Instruments, Gain (Loss) [Line Items]
Recorded in Income (Loss)	0	0
Designated as hedging instrument | Interest rate swap | Fair value hedging
Derivative Instruments, Gain (Loss) [Line Items]
Recorded Income (Loss) in AOCI, net of tax	(13)	8
Reclassified from AOCI into Income (Loss)	(12)	(5)
Recorded in Income (Loss)	$ 0	$ 0

Financial Instruments - Credit

Financial Instruments - Credit Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other non-current liabilities
Concentration Risk [Line Items]
Derivative, fair value	$ (15)	$ (8)
Ford | Accounts receivable | Credit concentration risk | Automotive Technology
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	16%	16%
Ford | Revenue Benchmark | Customer Concentration Risk | Automotive Technology
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	22%	22%	22%
General Motors | Accounts receivable | Credit concentration risk | Automotive Technology
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	15%	10%
General Motors | Revenue Benchmark | Customer Concentration Risk | Automotive Technology
Concentration Risk [Line Items]
Entity-wide revenue, major customer, percentage	12%	9%	7%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Product Liability Contingency [Line Items]
Revenues	$ 3,954	$ 3,756	$ 2,773
Outstanding guarantees	2
Brazil | Pending litigation
Product Liability Contingency [Line Items]
Loss contingency accrual	8
Estimate of possible loss	$ 65

Commitments and Contingencies_2

Commitments and Contingencies - Reconciliation of Changes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Product warranty accrual, including held for sale, beginning balance	$ 51	$ 50
Provisions	32	21
Change in estimates	4	1
Currency/other	1	(3)
Settlements	(17)	(18)
Product warranty accrual, including held for sale, ending balance	$ 71	$ 51

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 3,954	$ 3,756	$ 2,773
Tangible Long-Lived Assets, Net	527	488
U.S. Plans
Segment Reporting Information [Line Items]
Revenues	882	875	586
Tangible Long-Lived Assets, Net	105	103
Mexico
Segment Reporting Information [Line Items]
Revenues	109	96	55
Tangible Long-Lived Assets, Net	54	50
North America
Segment Reporting Information [Line Items]
Revenues	991	971	641
Tangible Long-Lived Assets, Net	159	153
Portugal
Segment Reporting Information [Line Items]
Revenues	840	867	608
Tangible Long-Lived Assets, Net	105	85
Slovakia
Segment Reporting Information [Line Items]
Revenues	352	347	257
Tangible Long-Lived Assets, Net	29	36
Tunisia
Segment Reporting Information [Line Items]
Revenues	106	69	53
Tangible Long-Lived Assets, Net	37	21
Other Europe
Segment Reporting Information [Line Items]
Revenues		14	44
Tangible Long-Lived Assets, Net	28	32
Europe
Segment Reporting Information [Line Items]
Revenues	1,298	1,297	962
Tangible Long-Lived Assets, Net	199	174
China
Segment Reporting Information [Line Items]
Revenues	950	870	775
Tangible Long-Lived Assets, Net	67	64
China | China Domestic
Segment Reporting Information [Line Items]
Revenues	614	625	576
China | China Export
Segment Reporting Information [Line Items]
Revenues	336	245	199
Japan
Segment Reporting Information [Line Items]
Revenues	353	330	234
Tangible Long-Lived Assets, Net	29	24
India
Segment Reporting Information [Line Items]
Revenues	246	227	151
Tangible Long-Lived Assets, Net	59	54
Other Asia-Pacific
Segment Reporting Information [Line Items]
Revenues	92	68	39
Tangible Long-Lived Assets, Net	6	9
Asia-Pacific, Excluding China
Segment Reporting Information [Line Items]
Revenues	691	625	424
Tangible Long-Lived Assets, Net	94	87
South America
Segment Reporting Information [Line Items]
Revenues	173	143	80
Tangible Long-Lived Assets, Net	8	10
Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (149)	$ (150)	$ (109)

Segment Information and Reven_3

Segment Information and Revenue Recognition - Revenue from external customers by products and services (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 3,954	$ 3,756	$ 2,773
Instrument clusters
Segment Reporting Information [Line Items]
Revenues	1,949	1,782	1,356
Cockpit domain controller
Segment Reporting Information [Line Items]
Revenues	536	473	226
Infotainment
Segment Reporting Information [Line Items]
Revenues	499	498	370
Information displays
Segment Reporting Information [Line Items]
Revenues	367	490	402
Body and electrification electronics
Segment Reporting Information [Line Items]
Revenues	314	225	134
Other
Segment Reporting Information [Line Items]
Revenues	$ 289	$ 288	$ 285

Other Income, Net - Schedule of

Other Income, Net - Schedule of Other Income, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Pension financing benefits, net	$ 11	$ 20	$ 18
Gain on Sale of Investments	0	3	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	0	(3)	0
Gain (Loss) Related to Litigation Settlement	(12)	0	0
Other (loss) income, net	$ (1)	$ 20	$ 18

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Income and Expenses [Abstract]
Investment in YFVIC	$ 35	$ 49

SCHEDULE II _ VALUATION AND Q_2

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowances, Beginning of Period	$ 5	$ 4	$ 4
(Benefits)/ Charges to Income	(2)	(1)	0
Deductions	0	0	0
Other	0	0	0
Valuation Allowances, End of Period	7	5	4
Valuation allowance for deferred taxes
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation Allowances, Beginning of Period	1,120	1,207	1,263
(Benefits)/ Charges to Income	(377)	(61)	(10)
Deductions	0	0	0
Other	11	(26)	(46)
Valuation Allowances, End of Period	$ 754	$ 1,120	$ 1,207

Uncategorized Items - vc-202312

Label	Element	Value
Deferred Tax Assets, Tax Credit Carryforwards, General Business	us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness	$ 399,000,000