BorgWarner (BWA) 10-Q2 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 27, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-12162
Entity Registrant Name	BORGWARNER INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3404508
Entity Address, Address Line One	3850 Hamlin Road,
Entity Address, City or Town	Auburn Hills,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48326
City Area Code	248
Local Phone Number	754-9200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		235,055,429
Entity Central Index Key	0000908255
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Common Stock, par value $0.01 per share
Document Information [Line Items]
Title of each class	Common Stock, par value $0.01 per share
Trading Symbol(s)	BWA
Name of each exchange on which registered	NYSE
1.00% Senior Notes due 2031
Document Information [Line Items]
Title of each class	1.00% Senior Notes due 2031
Trading Symbol(s)	BWA31
Name of each exchange on which registered	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash, cash equivalents and restricted cash	$ 949	$ 1,083
Receivables, net	3,351	2,471
Inventories, net	1,328	1,217
Prepayments and other current assets	272	230
Current assets of discontinued operations	0	1,616
Total current assets	5,900	6,617
Property, plant and equipment, net	3,569	3,426
Investments and long-term receivables	624	819
Goodwill	2,936	2,978
Other intangible assets, net	557	619
Other non-current assets	518	489
Non-current assets of discontinued operations	0	2,046
Total assets	14,104	16,994
LIABILITIES AND EQUITY
Notes payable and other short-term debt	63	60
Accounts payable	2,396	2,146
Other current liabilities	1,114	1,084
Current liabilities of discontinued operations	0	946
Total current liabilities	3,573	4,236
Long-term debt	3,665	4,140
Retirement-related liabilities	129	129
Other non-current liabilities	730	686
Non-current liabilities of discontinued operations	0	295
Total liabilities	8,097	9,486
Commitments and contingencies
Common stock	3	3
Capital in excess of par value	2,680	2,675
Retained earnings	6,010	7,454
Accumulated other comprehensive loss	(915)	(876)
Common stock held in treasury, at cost	(2,010)	(2,032)
Total BorgWarner Inc. stockholders’ equity	5,768	7,224
Noncontrolling interest	239	284
Total equity	6,007	7,508
Total liabilities and equity	$ 14,104	$ 16,994

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales	$ 3,622	$ 3,226	$ 10,676	$ 9,318
Cost of sales	2,970	2,619	8,767	7,588
Gross profit	652	607	1,909	1,730
Selling, general and administrative expenses	330	325	963	951
Restructuring expense	56	5	68	42
Other operating (income) expense, net	(6)	12	(1)	(7)
Operating income	272	265	879	744
Equity in affiliates’ earnings, net of tax	(10)	(5)	(23)	(21)
Realized and unrealized loss (gain) on debt and equity securities	60	(1)	129	27
Interest (income) expense, net	(19)	12	3	41
Other postretirement expense (income)	3	(1)	8	(2)
Earnings from continuing operations before income taxes and noncontrolling interest	238	260	762	699
Provision for income taxes	133	68	230	177
Net earnings from continuing operations	105	192	532	522
Net (loss) earnings from discontinued operations	(37)	100	(12)	225
Net earnings	68	292	520	747
Net earnings from continuing operations attributable to noncontrolling interest, net of tax	18	19	49	58
Net earnings from discontinued operations attributable to noncontrolling interest, net of tax	0	0	0	0
Net earnings attributable to BorgWarner Inc.	50	273	471	689
Amounts attributable to BorgWarner Inc.:
Net earnings from continuing operations	$ 87	$ 173	$ 483	$ 464
Basic earnings per share:
Earnings per share from continuing operations — basic (in dollar per share)	$ 0.37	$ 0.74	$ 2.07	$ 1.96
Earnings per share from discontinued operations — basic (in dollar per share)	(0.16)	0.43	(0.05)	0.95
Earnings per share attributable to BorgWarner Inc. — basic (in dollar per share)	0.21	1.17	2.02	2.91
Diluted earnings per share:
Earnings per share from continuing operations — diluted (in dollar per share)	0.37	0.73	2.06	1.95
Earnings per share from discontinued operations — diluted (in dollar per share)	(0.16)	0.42	(0.05)	0.95
Earnings per share attributable to BorgWarner Inc. — diluted (in dollar per share)	$ 0.21	$ 1.15	$ 2.01	$ 2.90
Weighted average shares outstanding:
Basic (in shares)	233.4	234.3	233.2	236.5
Diluted (in shares)	235.3	235.6	234.6	237.5
Discontinued Operations \| Phinia
Amounts attributable to BorgWarner Inc.:
Net (loss) earnings from discontinued operations	$ (37)	$ 100	$ (12)	$ 225

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings attributable to BorgWarner Inc.		$ 50	$ 273	$ 471	$ 689
Other comprehensive loss
Foreign currency translation adjustments	[1]	(16)	(274)	(72)	(554)
Hedge instruments	[1]	(12)	8	26	13
Defined benefit postretirement plans	[1]	11	4	7	14
Total other comprehensive loss attributable to BorgWarner Inc.		(17)	(262)	(39)	(527)
Comprehensive income attributable to BorgWarner Inc	[1]	33	11	432	162
Net income attributable to noncontrolling interest, net of tax		18	19	49	58
Other comprehensive loss attributable to noncontrolling interest	[1]	(4)	(24)	(18)	(42)
Comprehensive income		$ 47	$ 6	$ 463	$ 178

[1]Net of income taxes.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES OF CONTINUING OPERATIONS
Net cash provided by operating activities of continuing operations (see Note 23)	$ 510	$ 552
INVESTING ACTIVITIES OF CONTINUING OPERATIONS
Capital expenditures, including tooling outlays	(624)	(427)
Payments for businesses acquired, net of cash acquired	(31)	(288)
Proceeds from settlement of net investment hedges, net	25	40
Proceeds from investments in debt and equity securities, net	63	27
Proceeds from the sale of business, net	0	25
Proceeds from asset disposals and other, net	29	16
Net cash used in investing activities from continuing operations	(538)	(607)
FINANCING ACTIVITIES OF CONTINUING OPERATIONS
Net increase in notes payable	3	0
Additions to debt	4	2
Payments for debt issuance costs	(3)	0
Repayments of debt, including current portion	(444)	(9)
Payments for purchase of treasury stock	0	(240)
Payments for stock-based compensation items	(25)	(18)
Payments for contingent consideration	(23)	0
Purchase of noncontrolling interest	(15)	(56)
Net distribution from PHINIA	401	0
Dividends paid to BorgWarner stockholders	(105)	(121)
Dividends paid to noncontrolling stockholders	(71)	(48)
Net cash used in financing activities from continuing operations	(278)	(490)
CASH FLOWS FROM DISCONTINUED OPERATIONS
Operating activities of discontinued operations	(66)	127
Investing activities of discontinued operations	(86)	(79)
Financing activities of discontinued operations	84	(3)
Net cash (used in) provided by discontinued operations	(68)	45
Effect of exchange rate changes on cash	(15)	(103)
Net decrease in cash, cash equivalents and restricted cash	(389)	(603)
Cash, cash equivalents and restricted cash at beginning of year	1,338	1,844
Cash, cash equivalents and restricted cash at end of period	949	1,241
Less: Cash, cash equivalents and restricted cash of discontinued operations at end of period	0	172
Cash, cash equivalents and restricted cash of continuing operations at end of period	$ 949	$ 1,069

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements of BorgWarner Inc. and Consolidated Subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a comprehensive presentation of financial position, results of operations and cash flow activity required by GAAP for complete financial statements. In the opinion of management, all normal recurring adjustments necessary for a fair statement of results have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The balance sheet as of December 31, 2022 was derived from the audited financial statements as of that date. For further information, refer to the Consolidated Financial Statements and Footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and accompanying notes, as well as the amounts of revenues and expenses reported during the periods covered by those financial statements and accompanying notes. Actual results could differ from these estimates. On July 3, 2023, BorgWarner completed the previously announced spin-off (“Spin-Off”) of its Fuel Systems and Aftermarket segments in a transaction intended to qualify as tax free to the Company’s stockholders for U.S. federal income tax purposes, which was accomplished by the distribution of 100% of the outstanding common stock of PHINIA, Inc. (“PHINIA”) to holders of record of common stock of the Company on a pro-rata basis. Each holder of record of common stock of the Company received one share of PHINIA common stock for every five shares of common stock of the Company held on June 23, 2023, the record date for the distribution (“Distribution Date”). In lieu of fractional shares of PHINIA, shareholders of the Company received cash. PHINIA is an independent public company trading under the symbol “PHIN” on the New York Stock Exchange. The historical results of operations and the financial position of PHINIA for periods prior to the Spin-Off are presented as discontinued operations in these Condensed Consolidated Financial Statements. Refer to Note 24, “Discontinued Operations,” to the Condensed Consolidated Financial Statements for more information. In connection with the Spin-Off, the Company entered into several agreements with PHINIA on or prior to the Distribution Date that, among other things, provide a framework for the Company’s relationship with PHINIA after the Spin-Off, including a separation and distribution agreement, an employee matters agreement, a tax matters agreement, an intellectual property cross-license agreement and a transition services agreement through which the Company and PHINIA will continue to provide certain services to each other following the Spin-Off.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
NEW ACCOUNTING PRONOUNCEMENTS	Sep. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTSIn October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” It requires entities to apply ASC Topic 606, “Revenue from Contracts with Customers,” to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. This guidance is effective for interim and annual reporting periods beginning after December 15, 2022. The Company adopted this guidance prospectively as of January 1, 2023, and there was no impact in the Condensed Consolidated Financial Statements.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
ACQUISITIONS	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS In accordance with ASC Topic 805, “Business Combinations,” acquisitions are recorded using the acquisition method of accounting. The Company recognizes and measures the acquisition date fair value of the identifiable assets acquired, liabilities assumed, and any non-controlling interest using a range of methodologies as indicated by generally accepted valuation practices. Various valuation techniques are used to determine the fair value of intangible assets, with the primary techniques being forms of the income approach, specifically the relief-from-royalty and multi-period excess earnings valuation methods. Under these valuation approaches, the Company is required to make estimates and assumptions from a market participant perspective and may include revenue growth rates, estimated earnings, royalty rates, obsolescence factors, contributory asset charges, customer attrition and discount rates. Due to the insignificant size of the 2023 and 2022 acquisitions, both individually and in the aggregate, relative to the Company, supplemental pro forma financial information for the current and prior reporting periods is not provided. Eldor Corporation’s Electric Hybrid Systems Business On June 19, 2023, the Company announced that it had entered into a share purchase agreement to acquire the Electric Hybrid Systems business segment of Eldor Corporation (“Eldor”), which is headquartered in Italy. The purchase price due at closing is €75 million ($79 million), with up to €175 million ($185 million) in contingent payments that could be paid over the two years following closing. The Company expects the acquisition to complement its existing ePropulsion product portfolio by enhancing the Company’s engineering capabilities in power electronics. The transaction is subject to satisfaction of customary closing conditions and is expected to close in the fourth quarter of 2023. Hubei Surpass Sun Electric Charging Business On March 1, 2023, the Company completed its acquisition of 100% of the electric vehicle solution, smart grid and smart energy businesses (“SSE”) of Hubei Surpass Sun Electric, pursuant to an Equity Transfer Agreement. The acquisition complements the Company’s existing European and North American charging footprint by adding a presence in China. The total consideration was ¥288 million ($42 million), including ¥268 million ($39 million) of base purchase price and ¥20 million ($3 million) of estimated earn-out payments. The Company paid ¥217 million ($31 million) of base purchase price in the nine months ended September 30, 2023. Of the remaining ¥51 million ($8 million) of base purchase price, ¥31 million ($5 million) is payable by April 30, 2024 and is recorded in Other current liabilities in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2023. The remaining ¥20 million ($3 million) of base purchase price is payable before April 30, 2025 and is recorded in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2023. Pursuant to the agreement, the Company’s obligation to remit up to ¥103 million ($15 million) of earn-out payments is contingent upon the achievement of certain revenue and pre-tax profit margin targets in 2023 and 2024 as well as the retention of key employees during the same time period. As of September 30, 2023, the Company’s estimate of the earn-out payments was approximately ¥20 million ($3 million), of which half is recorded in Other current liabilities and half is recorded in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The purchase price was allocated on a provisional basis as of March 1, 2023, and all assets acquired and liabilities assumed were recorded at estimated fair values based on management’s estimates, available information, and supportable assumptions that management considered reasonable. The Company subsequently finalized its valuation of the assets and liabilities of the SSE acquisition during the third quarter of 2023, and the estimated fair values of assets acquired and liabilities assumed amounted to total assets of $50 million, including goodwill and intangibles of $5 million, and total liabilities of $8 million. These final amounts were not materially different than the estimated values recorded on March 1, 2023. Any excess of the purchase price over the estimated fair value of net assets was recognized as goodwill. Goodwill of $2 million was recorded within the Company’s Air Management segment. The goodwill consists of the Company’s expected future economic benefits that will be realized from expanding the Company’s electric vehicle portfolio as electric vehicle production continues to increase. The goodwill is not deductible for tax purposes in China. In connection with the acquisition, the Company recorded $3 million for intangible assets, primarily for customer relationships and developed technology. Identifiable intangible assets were valued using the income approach The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 5 years $ 2 Customer relationships 6 years 1 Total other intangible assets $ 3 The impact of the SSE acquisition on net sales and net earnings was immaterial for the three and nine months ended September 30, 2023. Drivetek AG On December 1, 2022, the Company completed its acquisition of 100% of Drivetek AG (“Drivetek”), an engineering and product development company located in Switzerland. This acquisition strengthens the Company’s power electronics capabilities in auxiliary inverters, which the Company expects will help to accelerate the growth of its High Voltage eFan business. The Company paid ₣27 million ($29 million) at closing, and up to ₣10 million ($10 million) could be paid in the form of contingent earn-out payments over the three years following closing. The earn-out payments are contingent upon achievement of estimated future sales targets associated with newly awarded business and future turnover rate targets. As of September 30, 2023, the Company’s estimate of the earn-out payments was approximately ₣10 million ($11 million), which is recorded in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. The purchase price was allocated on a preliminary basis as of December 1, 2022. Assets acquired and liabilities assumed were recorded at estimated fair values based on management’s estimates, available information, and supportable assumptions that management considered reasonable. The Company subsequently finalized its valuation of the assets and liabilities of the Drivetek acquisition during the third quarter of 2023, and the estimated fair values of assets acquired and liabilities assumed amounted to total assets of $49 million, including goodwill and intangibles of $40 million, and liabilities of $10 million. These final amounts were not materially different than the estimated values recorded on December 1, 2022. Any excess of the purchase price over the estimated fair value of net assets was recognized as goodwill. Goodwill of $22 million was recorded within the Company’s Air Management segment. The goodwill consists of the Company’s expected future economic benefits that will be realized from expanding the Company’s electric vehicle portfolio as electric vehicle production continues to increase. The goodwill is not expected to be deductible for tax purposes in Switzerland. The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 8 years $ 11 Customer relationships 12 years 7 Total other intangible assets $ 18 Identifiable intangible assets were valued using the market approach. The impact of the Drivetek acquisition on net sales and net earnings was immaterial for the three and nine months ended September 30, 2023. Rhombus Energy Solutions On July 29, 2022, the Company completed its acquisition of 100% of Rhombus Energy Solutions (“Rhombus”), a provider of charging solutions in the North American market, pursuant to the terms of an Agreement and Plan of Merger (the “Agreement”). The acquisition complements the Company’s existing European charging footprint to accelerate organic growth and adds North American regional presence to its charging business. The Company paid $131 million at closing. Pursuant to the Agreement, the Company is obligated to remit up to $30 million of earn-out payments, payable in 2025, contingent upon achievement of certain sales dollars, sales volume, and gross margin targets. The Company’s current estimates indicate that the minimum thresholds for these earn-out targets will not be achieved; thus, no amount for the earn-out payments has been included in the purchase consideration or in the Company’s Condensed Consolidated Balance Sheet. Additionally, pursuant to the Agreement, the Company is obligated to remit up to $25 million over the three years following closing in key employee retention-related payments, which include certain performance targets. The amounts will be accounted for as post-combination expense. The Company finalized its valuation of the assets and liabilities for the Rhombus acquisition during the second quarter of 2023. Any excess of the purchase price over the estimated fair value of net assets was recognized as goodwill. Goodwill of $104 million was recorded within the Company’s Air Management segment. The goodwill consists of the Company’s expected future economic benefits that will be realized from expanding the Company’s electric vehicle portfolio as electric vehicle production continues to increase. The goodwill is not expected to be deductible for tax purposes. The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 13 years $ 22 Customer relationships 8 years 5 Total other intangible assets $ 27 Identifiable intangible assets were valued using the income approach. The impact of the Rhombus acquisition on net sales and net earnings was immaterial for the three and nine months ended September 30, 2023. Santroll Automotive Components On March 31, 2022, the Company completed its acquisition of 100% of Santroll Automotive Components (“Santroll”), a carve-out of Santroll Electric Auto’s eMotor business, pursuant to the terms of an Equity Transfer Agreement (“ETA”). The acquisition is expected to strengthen the Company’s vertical integration, scale and portfolio breadth in light vehicle eMotors while allowing for increased speed to market. The total final consideration was $192 million, including approximately ¥1.0 billion ($152 million) of base purchase price and ¥0.25 billion ($40 million) of originally estimated earn-out payments. The Company paid approximately ¥1.0 billion ($157 million) of base purchase price in the year ended December 31, 2022 and no longer expects to recapture a previously anticipated $5 million of post-closing adjustments, which has been recorded in Other operating expense, net. Pursuant to the ETA, the obligation of the Company to remit up to ¥0.3 billion (approximately $47 million) of earn-out payments was contingent upon achievement of certain sales volume targets and certain estimated future volume targets associated with newly awarded business. During the nine months ended September 30, 2023, the Company paid approximately ¥0.2 billion ($24 million) to settle the remaining earn-out liability and related adjustments. The Company finalized its valuation of the assets and liabilities of the Santroll acquisition during the first quarter of 2023. Any excess of the purchase price over the estimated fair value of net assets was recognized as goodwill. Goodwill of $112 million was recorded within the Company’s ePropulsion segment. The goodwill consists of the Company’s expected future economic benefits that will arise from future product sales and the added capabilities from vertical integration of eMotors. The goodwill is not expected to be deductible for tax purposes in China. The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Customer relationships 12 years $ 62 Manufacturing processes (know-how) 10 years 25 Total other intangible assets $ 87 Identifiable intangible assets were valued using the income approach. The impact of the Santroll acquisition on net sales and net earnings was immaterial for the three and nine months ended September 30, 2023.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
REVENUE FROM CONTRACTS WITH CUSTOMERS	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS The Company manufactures and sells products, primarily to OEMs of light vehicles and, to a lesser extent, to other OEMs of commercial vehicles and off-highway vehicles, to certain tier one vehicle systems suppliers and into the aftermarket. The Company’s payment terms are based on customary business practices and vary by customer type and products offered. The Company evaluated the terms of its arrangements and determined that they do not contain significant financing components. Generally, revenue is recognized upon shipment or delivery; however, a limited number of the Company’s customer arrangements for its highly customized products with no alternative use provide the Company with the right to payment during the production process. As a result, for these limited arrangements, revenue is recognized as goods are produced and control transfers to the customer using the input cost-to-cost method. The Company recorded a contract asset of $16 million and $14 million at September 30, 2023 and December 31, 2022, respectively, for these arrangements. These amounts are reflected in Prepayments and other current assets in the Company’s Condensed Consolidated Balance Sheets. In limited instances, certain customers have provided payments in advance of receiving related products, typically at the onset of an arrangement prior to the beginning of production. These contract liabilities are reflected as Other current liabilities in the Condensed Consolidated Balance Sheets and were $11 million at September 30, 2023 and $14 million at December 31, 2022. These amounts are reflected as revenue over the term of the arrangement (typically 3 to 7 years) as the underlying products are shipped and represent the Company’s remaining performance obligations as of the end of the period. The Company continually seeks business development opportunities and, at times, provides customer incentives for new program awards. When the Company determines that the payments are incremental and incurred only if the new business is obtained and expects to recover these amounts from the customer over the term of the new business arrangement, the Company capitalizes these amounts. As of September 30, 2023 and December 31, 2022, the Company recorded customer incentive payments of $27 million and $34 million, respectively, in Prepayments and other current assets, and $75 million and $99 million, respectively, in Other non-current assets in the Condensed Consolidated Balance Sheets. The following tables represent a disaggregation of revenue from contracts with customers by reportable segment and region. The balances for the three and nine months ended September 30, 2022 have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 542 $ 405 $ 118 $ 1,065 Europe 819 329 95 1,243 Asia 511 408 343 1,262 Other 50 2 — 52 Total $ 1,922 $ 1,144 $ 556 $ 3,622 Three Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 526 $ 376 $ 109 $ 1,011 Europe 729 226 49 1,004 Asia 522 352 297 1,171 Other 50 — (10) 40 Total $ 1,827 $ 954 $ 445 $ 3,226 Nine Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 1,622 $ 1,190 $ 388 $ 3,200 Europe 2,577 980 227 3,784 Asia 1,531 1,041 953 3,525 Other 158 5 4 167 Total $ 5,888 $ 3,216 $ 1,572 $ 10,676 Nine Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 1,497 $ 1,020 $ 375 $ 2,892 Europe 2,156 724 148 3,028 Asia 1,490 1,001 762 3,253 Other 140 — 5 145 Total $ 5,283 $ 2,745 $ 1,290 $ 9,318

RESTRUCTURING

RESTRUCTURING	9 Months Ended
RESTRUCTURING	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company’s restructuring activities are undertaken, as necessary, to execute management’s strategy and streamline operations, consolidate and take advantage of available capacity and resources, and ultimately achieve net cost reductions. Restructuring activities include efforts to integrate and rationalize the Company’s business and to relocate operations to best-cost locations. The Company’s restructuring expenses consist primarily of employee termination benefits (principally severance and/or termination benefits) and other costs, which are primarily professional fees and costs related to facility closures and exits. The balances for the three and nine months ended September 30, 2022 have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 53 $ 1 $ — $ — $ 54 Other 1 1 — — 2 Total restructuring expense $ 54 $ 2 $ — $ — $ 56 Three Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 5 $ — $ — $ — $ 5 Other — — — — — Total restructuring expense $ 5 $ — $ — $ — $ 5 Nine Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 62 $ 1 $ — $ — $ 63 Other 4 1 — — 5 Total restructuring expense $ 66 $ 2 $ — $ — $ 68 Nine Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 19 $ 14 $ — $ (1) $ 32 Other — 9 1 — 10 Total restructuring expense $ 19 $ 23 $ 1 $ (1) $ 42 The following tables display a roll forward of the restructuring liability recorded within the Company’s Condensed Consolidated Balance Sheets and the related cash flow activity: (in millions) Employee Termination Benefits Other Total Balance at January 1, 2023 $ 39 $ 9 $ 48 Restructuring expense, net 63 5 68 Cash payments (32) (9) (41) Foreign currency translation adjustment and other (1) 2 1 Balance at September 30, 2023 69 7 76 Less: Non-current restructuring liability 7 — 7 Current restructuring liability at September 30, 2023 $ 62 $ 7 $ 69 (in millions) Employee Termination Benefits Other Total Balance at January 1, 2022 $ 66 $ 13 $ 79 Restructuring expense, net 32 10 42 Cash payments (39) (17) (56) Foreign currency translation adjustment and other (12) 2 (10) Balance at September 30, 2022 47 8 55 Less: Non-current restructuring liability 13 1 14 Current restructuring liability at September 30, 2022 $ 34 $ 7 $ 41 2023 Structural Costs Plan In 2023, the Company announced a $130 million to $150 million restructuring plan to address structural costs in its Foundational products businesses. Foundational products include all products utilized on internal combustion engines plus those same products and components that are also included in hybrid powertrains. During the three and nine months ended September 30, 2023, the Company recorded $56 million and $68 million, respectively, of restructuring costs related to this plan. 2020 Structural Costs Plan In 2020, the Company announced a $300 million restructuring plan to address structural costs. The actions under this plan are complete. The following provides details of restructuring expense incurred by the Company’s reportable segments during the three and nine months ended September 30, 2023, and 2022, related to the plans and actions discussed above: Air Management 2023 Structural Costs Plan • During the three and nine months ended September 30, 2023, the segment recorded $54 million and $66 million, respectively, of restructuring costs under this plan, primarily related to employee termination benefits associated with the announced closure of a facility in Europe affecting approximately 200 employees. 2020 Structural Costs Plan • During the three and nine months ended September 30, 2022, the segment recorded $5 million and $19 million, respectively, of restructuring costs under this plan. This primarily related to $11 million during the nine months ended September 30, 2022, for a voluntary termination program pursuant to which approximately 47 employees accepted termination packages in 2022. Drivetrain & Battery Systems 2023 Structural Costs Plan • During the three and nine months ended September 30, 2023, the segment recorded $2 million of restructuring costs under this plan, primarily related to employee termination benefits and equipment moves. 2020 Structural Costs Plan • During the nine months ended September 30, 2022, the segment recorded $9 million of restructuring costs primarily related to contractual settlements and professional fees. Separate from the 2020 Structural Costs Plan, during the nine months ended September 30, 2022, the segment recorded $14 million of restructuring costs, primarily related to severance costs associated with the announced closure of a technical center in Europe affecting approximately 80 employees. Estimates of restructuring expense are based on information available at the time such charges are recorded. Due to the inherent uncertainty involved in estimating restructuring expenses, actual amounts paid for such activities may differ from amounts initially recorded. Accordingly, the Company may record revisions of previous estimates by adjusting previously established accruals. The Company continues to evaluate different options across its operations to reduce existing structural costs over the next few years. The Company will recognize restructuring expense associated with any future actions at the time they are approved and become probable or are incurred. Any future actions could result in significant restructuring expense.

RESEARCH AND DEVELOPMENT COSTS

RESEARCH AND DEVELOPMENT COSTS	9 Months Ended
RESEARCH AND DEVELOPMENT COSTS	Sep. 30, 2023
Research and Development [Abstract]
RESEARCH AND DEVELOPMENT COSTS	RESEARCH AND DEVELOPMENT COSTS The Company’s net Research & Development (“R&D”) expenditures are included in Selling, general and administrative expenses of the Condensed Consolidated Statements of Operations. Customer reimbursements are netted against gross R&D expenditures as they are considered a recovery of cost. Customer reimbursements for prototypes are recorded net of prototype costs based on customer contracts, typically either when the prototype is shipped or when it is accepted by the customer. Customer reimbursements for engineering services are recorded when performance obligations are satisfied in accordance with the contract. Financial risks and rewards transfer upon shipment, acceptance of a prototype component by the customer or upon completion of the performance obligation, as stated in the respective customer agreement. The Company has contracts with several customers relating to R&D activities that the Company performs at the Company’s various R&D locations. The following table presents the Company’s gross and net expenditures on R&D activities: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2023 2022 2023 2022 Gross R&D expenditures $ 215 $ 190 $ 625 $ 566 Customer reimbursements (23) (12) (84) (32) Net R&D expenditures $ 192 $ 178 $ 541 $ 534

OTHER OPERATING (INCOME) EXPENS

OTHER OPERATING (INCOME) EXPENSE, NET	9 Months Ended
OTHER OPERATING (INCOME) EXPENSE, NET	Sep. 30, 2023
Other Income and Expenses [Abstract]
OTHER OPERATING (INCOME) EXPENSE, NET	OTHER OPERATING (INCOME) EXPENSE, NET Items included in Other operating expense, net consist of: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2023 2022 2023 2022 Merger and acquisition expense, net $ 2 $ 5 $ 18 $ 13 Service and lease agreement termination — — 9 — Asset impairments 2 — 2 — Loss (gain) on sale of business — 9 (5) (15) Gain on sale of assets (7) — (13) — Other (income) expense, net (3) (2) (12) (5) Other operating (income) expense, net $ (6) $ 12 $ (1) $ (7) Merger and acquisition expense, net: During the three and nine months ended September 30, 2023, the Company recorded merger and acquisition expense, net of $2 million and $18 million, respectively, primarily related to professional fees for specific acquisition initiatives. During the three and nine months ended September 30, 2022, the Company recorded merger and acquisition expense, net of $5 million and $13 million, respectively, primarily related to professional fees associated with specific acquisition initiatives. Loss (gain) on sale of business: During the three months ended September 30, 2022, the Company updated its estimate of the expected earn-out related to a previous divestiture resulting in a $9 million loss in the period. During the nine months ended September 30, 2022, the Company recorded a pre-tax gain of $24 million in connection with the sale of its interest in BorgWarner Romeo Power LLC, in which the Company owned a 60% interest. Gain on sale of assets: During the three months ended September 30, 2023, the Company recorded a $7 million gain related to the sale of a European manufacturing facility. The sale of the facility was pursuant to a formal restructuring plan. During the nine months ended September 30, 2023, the Company recorded a $13 million gain, primarily related to the sale of the European manufacturing facility and other fixed assets.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s provision for income taxes is based upon an estimated annual tax rate for the year applied to federal, state and foreign income. On a quarterly basis, the annual effective tax rate is adjusted, as appropriate, based upon changed facts and circumstances, if any, as compared to those forecasted at the beginning of the fiscal year and each interim period thereafter. The Company’s effective tax rate for the three months ended September 30, 2023 and 2022 was 56% and 26%, respectively. During the three months ended September 30, 2023, a discrete tax benefit of approximately $31 million was recorded in relation to various changes in filling positions for prior years, a discrete tax benefit of approximately $12 million was recorded in relation to the Spin-Off, and a discrete tax expense of approximately $87 million was recorded in relation to changes in judgement related to the realization of deferred tax assets, primarily due to the impact of the Spin-Off on the allocation of the Company’s profits across jurisdictions for tax purposes as well as various tax structuring actions and strategies. During the three months ended September 30, 2022, a discrete tax benefit of $1 million was recorded relating to other tax adjustments. The Company’s effective tax rate for the nine months ended September 30, 2023 and 2022 was 30% and 25%, respectively. During the nine months ended September 30, 2023, a discrete tax benefit of approximately $14 million was recorded related to the resolution of tax audits, a discrete tax benefit of approximately $41 million was recorded in relation to the Spin-Off, a discrete tax benefit of approximately $39 million was recorded in relation to various changes in filling positions for prior years, a discrete tax expense of approximately $9 million was recorded for the impact of enacted tax law changes, and a discrete tax expense of approximately $85 million was recorded in relation to changes in judgement related to the recovery of deferred tax assets, primarily due to the impact of the Spin-Off on the allocation of the Company’s profits across jurisdictions for tax purposes as well as various tax structuring actions and strategies. During the nine months ended September 30, 2022, a discrete tax benefit of $8 million was recorded relating to other tax adjustments. The annual effective tax rates differ from the U.S. statutory rate primarily due to foreign rates that vary from those in the U.S., jurisdictions with pretax losses for which no tax benefit could be realized, U.S. taxes on foreign earnings, the realization of certain business tax credits (including foreign tax credits), and permanent differences between book and tax treatment for certain items (including the Foreign-Derived Intangible Income (“FDII”) deduction and the enhanced deduction of research and development expenses in certain jurisdictions). The Company estimates that it is reasonably possible there could be a decrease of approximately $97 million in unrecognized tax benefits and interest in the next 12 months related to the conclusion of tax audits and the lapse of statutes of limitations subsequent to the reporting period in certain taxing jurisdictions.

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
INVENTORIES, NET	Sep. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET A summary of Inventories, net is presented below: September 30, December 31, (in millions) 2023 2022 Raw material and supplies $ 1,005 $ 919 Work in progress 154 136 Finished goods 202 187 FIFO inventories 1,361 1,242 LIFO reserve (33) (25) Inventories, net $ 1,328 $ 1,217

OTHER CURRENT AND NON-CURRENT A

OTHER CURRENT AND NON-CURRENT ASSETS	9 Months Ended
OTHER CURRENT AND NON-CURRENT ASSETS	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER CURRENT AND NON-CURRENT ASSETS	OTHER CURRENT AND NON-CURRENT ASSETS Additional detail related to assets is presented below: September 30, December 31, ( in millions ) 2023 2022 Prepayments and other current assets: Prepaid tooling $ 99 $ 77 Prepaid taxes 40 33 Derivative instruments 34 12 Customer incentive payments (Note 4) 27 34 Contract assets (Note 4) 16 14 Other 56 60 Total prepayments and other current assets $ 272 $ 230 Investments and long-term receivables: Investment in debt securities $ 262 $ 455 Investment in equity affiliates 232 235 Equity securities 73 73 Long-term receivables 57 56 Total investments and long-term receivables $ 624 $ 819 Other non-current assets: Deferred income taxes $ 193 $ 179 Operating leases 128 106 Derivative instruments 83 68 Customer incentive payments (Note 4) 75 99 Other 39 37 Total other non-current assets $ 518 $ 489

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	9 Months Ended
GOODWILL AND OTHER INTANGIBLES	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES During the fourth quarter of each year, the Company assesses its goodwill and indefinite-lived intangible assets assigned to each of its reporting units. In addition, the Company may test goodwill in between annual test dates if an event occurs or circumstances change that could more-likely-than-not reduce the fair value of a reporting unit below its carrying value. No events or circumstances were noted in the nine months ended September 30, 2023 requiring additional assessment or testing. Future changes in the judgments, assumptions and estimates from those used in acquisition-related valuations and goodwill impairment testing, including discount rates or future operating results and related cash flow projections, could result in significantly different estimates of the fair values in the future. An increase in discount rates, a reduction in projected cash flows or a combination of the two could lead to a reduction in the estimated fair values, which may result in impairment charges that could materially affect the Company’s financial statements in any given year. A summary of the changes in the carrying amount of goodwill are as follows: (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total Gross goodwill balance, December 31, 2022 $ 1,566 $ 1,434 $ 480 $ 3,480 Accumulated impairment losses, December 31, 2022 (502) — — (502) Net goodwill balance, December 31, 2022* $ 1,064 $ 1,434 $ 480 $ 2,978 Goodwill during the period: Acquisitions 2 — — 2 Other, primarily translation adjustment (6) (10) (28) (44) Ending balance, September 30, 2023 $ 1,060 $ 1,424 $ 452 $ 2,936 __________________________________ * The December 31, 2022 balances have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information” for more information. The Company’s other intangible assets, primarily from acquisitions, consist of the following: September 30, 2023 December 31, 2022 (in millions) Estimated useful lives (years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patented and unpatented technology 5 - 15 $ 349 $ 134 $ 215 $ 349 $ 111 $ 238 Customer relationships 6 - 15 620 287 333 639 267 372 Miscellaneous 2 - 5 9 6 3 9 6 3 Total amortized intangible assets 978 427 551 997 384 613 Unamortized trade names 6 — 6 6 — 6 Total other intangible assets $ 984 $ 427 $ 557 $ 1,003 $ 384 $ 619

PRODUCT WARRANTY

PRODUCT WARRANTY	9 Months Ended
PRODUCT WARRANTY	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
PRODUCT WARRANTY	PRODUCT WARRANTY The Company provides warranties on some, but not all, of its products. The warranty terms are typically from one The following table summarizes the activity in the product warranty accrual accounts: (in millions) 2023 2022 Beginning balance, January 1 $ 185 $ 168 Provisions for current period sales 68 40 Adjustments of prior estimates — (6) Payments (53) (34) Other, primarily translation adjustment (6) (20) Ending balance, September 30 $ 194 $ 148 The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows: September 30, December 31, (in millions) 2023 2022 Other current liabilities $ 99 $ 110 Other non-current liabilities 95 75 Total product warranty liability $ 194 $ 185

NOTES PAYABLE AND DEBT

NOTES PAYABLE AND DEBT	9 Months Ended
NOTES PAYABLE AND DEBT	Sep. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE AND DEBT	NOTES PAYABLE AND DEBT As of September 30, 2023 and December 31, 2022, the Company had debt outstanding as follows: September 30, December 31, ( in millions ) 2023 2022 Short-term borrowings $ 60 $ 58 Long-term debt 3.375% Senior notes due 03/15/25 ($500 million par value) 384 499 5.000% Senior notes due 10/01/25 ($800 million par value)* 481 840 2.650% Senior notes due 07/01/27 ($1,100 million par value) 1,093 1,092 7.125% Senior notes due 02/15/29 ($121 million par value) 120 120 1.000% Senior Notes due 05/19/31 (€1,000 million par value) 1,041 1,051 4.375% Senior notes due 03/15/45 ($500 million par value) 495 495 Term loan facilities, finance leases and other 54 45 Total long-term debt 3,668 4,142 Less: current portion 3 2 Long-term debt, net of current portion $ 3,665 $ 4,140 _____________________________ *These notes include the fair value step-up from the Delphi Technologies acquisition. The fair value step-up was calculated based on observable market data and is amortized as a reduction to interest expense over the remaining life of the instrument using the effective interest method. In September 2023, the Company purchased and extinguished $438 million of senior notes due in 2025, comprised of $115 million and $323 million face value of its 3.375% and 5.000% Senior Notes, respectively. Total cash consideration paid was $430 million. The Company recorded a gain of approximately $28 million during the three months ended September 30, 2023, consisting of an $8 million gain related to a cash settlement below the face value of the 2025 notes and $20 million related to the write-off of the unamortized premium and discount that was recorded at the time of note issuance. The gain was recorded to Interest (income) expense, net, in the Statements of Operations. The Company may utilize uncommitted lines of credit for short-term working capital requirements. As of September 30, 2023 and December 31, 2022, the Company had $60 million and $58 million, respectively, in borrowings under these facilities, which are classified in Notes payable and other short-term debt in the Condensed Consolidated Balance Sheets. The short-term borrowings primarily relate to a European money market loan with an interest rate of Euribor plus 1.75% that is callable upon immediate notice by either party. The following table provides details on Interest expense, net included in the Condensed Consolidated Statements of Operations: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Interest expense $ 21 $ 16 $ 57 $ 53 Gain on debt extinguishment (28) — (28) — Interest income (12) (4) (26) (12) Interest expense, net $ (19) $ 12 $ 3 $ 41 The Company has a $2 billion multi-currency revolving credit facility that allows the Company to increase the facility by $1 billion with bank group approval. This facility was renewed in September 2023 and now matures in September 2028. The credit agreement contains customary events of default and one key financial covenant which is a debt-to-EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) ratio. The Company was in compliance with the financial covenant at September 30, 2023. At September 30, 2023 and December 31, 2022, the Company had no outstanding borrowings under this facility. The Company’s commercial paper program allows the Company to issue up to $2 billion of short-term, unsecured commercial paper notes under the limits of its multi-currency revolving credit facility. Under this program, the Company may issue notes from time to time and use the proceeds for general corporate purposes. The Company had no outstanding borrowings under this program as of September 30, 2023 and December 31, 2022. The total current combined borrowing capacity under the multi-currency revolving credit facility and commercial paper program cannot exceed $2 billion. As of September 30, 2023 and December 31, 2022, the estimated fair values of the Company’s senior unsecured notes totaled $3,099 million and $3,530 million, respectively. The estimated fair values were $515 million lower than their carrying value at September 30, 2023 and $567 million lower than their carrying value at December 31, 2022. Fair market values of the senior unsecured notes are developed using observable values for similar debt instruments, which are considered Level 2 inputs as defined by ASC Topic 820. The carrying values of the Company's multi-currency revolving credit facility, commercial paper program and other debt facilities approximate fair value. The fair value estimates do not necessarily reflect the values the Company could realize in the current markets. The Company had outstanding letters of credit of $35 million and $31 million at September 30, 2023 and December 31, 2022, respectively. The letters of credit typically act as guarantees of payment to certain third parties in accordance with specified terms and conditions.

OTHER CURRENT AND NON-CURRENT L

OTHER CURRENT AND NON-CURRENT LIABILITIES	9 Months Ended
OTHER CURRENT AND NON-CURRENT LIABILITIES	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
OTHER CURRENT AND NON-CURRENT LIABILITIES	OTHER CURRENT AND NON-CURRENT LIABILITIES Additional detail related to liabilities is presented in the table below: September 30, December 31, ( in millions ) 2023 2022 Other current liabilities: Payroll and employee related $ 268 $ 314 Customer related 161 108 Indirect taxes 119 115 Income taxes payable 72 107 Product warranties (Note 12) 99 110 Employee termination benefits (Note 5) 62 20 Operating leases 41 22 Accrued freight 38 30 Interest 22 22 Supplier related 17 15 Insurance 17 18 Deferred engineering reimbursements 14 23 Other non-income taxes 14 12 Dividends payable 11 21 Contract liabilities (Note 4) 11 14 Retirement related 11 11 Earn-out liability (Note 3) 2 16 Other 135 106 Total other current liabilities $ 1,114 $ 1,084 Other non-current liabilities: Other income tax liabilities $ 222 $ 242 Deferred income taxes 179 143 Product warranties (Note 12) 95 75 Operating leases 91 85 Deferred income 69 59 Earn-out liability (Note 3) 12 10 Employee termination benefits (Note 5) 7 17 Other 55 55 Total other non-current liabilities $ 730 $ 686

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Sep. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC Topic 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC Topic 820 establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair values as follows: Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques noted in ASC Topic 820: A. Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets, liabilities or a group of assets or liabilities, such as a business. B. Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost). C. Income approach: Techniques to convert future amounts to a single present amount based upon market expectations (including present value techniques, option-pricing and excess earnings models). The following tables classify assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022: Basis of fair value measurements (in millions) Balance at September 30, 2023 Quoted prices in active markets for identical items Significant other observable inputs Significant unobservable inputs Valuation technique Assets measured at NAV 1 Assets: Investment in debt securities $ 262 $ — $ 262 $ — A $ — Investment in equity securities $ 28 $ — $ — $ — — $ 28 Foreign currency contracts $ 39 $ — $ 39 $ — A $ — Net investment hedge contracts $ 78 $ — $ 78 $ — A $ — Liabilities: Current earn-out liabilities $ 2 $ — $ — $ 2 C $ — Non-current earn-out liabilities $ 12 $ — $ — $ 12 C $ — Foreign currency contracts $ 2 $ — $ 2 $ — A $ — Basis of fair value measurements (in millions) Balance at Quoted prices in active markets for identical items Significant other observable inputs Significant unobservable inputs Valuation Assets measured at NAV 1 Assets: Current earn-out receivable $ 9 $ — $ — $ 9 C $ — Investment in debt securities $ 455 $ — $ 455 $ — A $ — Investment in equity securities $ 29 $ — $ — $ — — $ 29 Foreign currency contracts $ 12 $ — $ 12 $ — A $ — Net investment hedge contracts $ 68 $ — $ 68 $ — A $ — Liabilities: Current earn-out liability $ 21 $ — $ — $ 21 C $ — Non-current earn-out liability $ 10 $ — $ — $ 10 C $ — Foreign currency contracts $ 9 $ — $ 9 $ — A $ — Net investment hedge contracts $ 1 $ — $ 1 $ — A $ —

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
FINANCIAL INSTRUMENTS	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The Company’s financial instruments include cash and cash equivalents, marketable securities and accounts receivable. Due to the short-term nature of these instruments, their book value approximates their fair value. The Company’s financial instruments may also include long-term debt, investments in equity securities, interest rate and cross-currency swaps, commodity derivative contracts and foreign currency derivative contracts. All derivative contracts are placed with counterparties that have an S&P, or equivalent, investment grade credit rating at the time of the contracts’ placement. An adjustment for non-performance risk is considered in the estimate of fair value in derivative assets based on the counterparty credit default swap (“CDS”) rate. When the Company is in a net derivative liability position, the non-performance risk adjustment is based on its CDS rate. At September 30, 2023 and December 31, 2022, the Company had no derivative contracts that contained credit-risk-related contingent features. The Company, at times, uses certain commodity derivative contracts to protect against commodity price changes related to forecasted raw material and component purchases. At September 30, 2023 and December 31, 2022, the Company had no material commodity derivative contracts. The Company manages its interest rate risk by balancing its exposure to fixed and variable rates while attempting to optimize its interest costs. The Company, at times, selectively uses interest rate swaps and options to reduce market value risk associated with changes in interest rates (fair value hedges and cash flow hedges). At September 30, 2023 and December 31, 2022, the Company had no outstanding interest rate swaps or options. The Company uses foreign currency forward and option contracts to protect against exchange rate movements for forecasted cash flows, including capital expenditures, purchases, operating expenses or sales transactions designated in currencies other than the functional currency of the operating unit. In addition, the Company uses foreign currency forward contracts to hedge exposure associated with its net investment in certain foreign operations (net investment hedges). Foreign currency derivative contracts require the Company, at a future date, to either buy or sell foreign currency in exchange for the operating units’ local currency. At September 30, 2023 and December 31, 2022, the following foreign currency derivative contracts were outstanding and mature through the ending duration noted below: Foreign currency derivatives (in millions)* Functional Currency Traded Currency Notional in traded currency Notional in traded currency Ending Duration British Pound Euro 47 10 Dec - 24 Chinese Renminbi US Dollar 225 276 Dec - 24 Euro Hungarian Forint 7,033 — Dec - 24 Euro Korean Won 20,225 9,138 Mar - 24 Euro Polish Zloty 456 440 Dec - 24 Euro US Dollar 136 120 Dec - 24 US Dollar Chinese Renminbi 582 1,402 Dec - 23 US Dollar Euro 42 45 Oct - 23 US Dollar Korean Won 67,200 51,786 Nov - 24 US Dollar Mexican Peso 2,295 2,474 Dec - 24 US Dollar Thailand Baht 1,550 — Jun - 24 *Table above excludes non-significant traded currency pairings with total notional amounts less than $10 million U.S. dollar equivalent as of September 30, 2023 and December 31, 2022. The Company selectively uses cross-currency swaps to hedge the foreign currency exposure associated with its net investment in certain foreign operations (net investment hedges). At September 30, 2023 and December 31, 2022, the following cross-currency swap contracts were outstanding: Cross-currency swaps (in millions) September 30, 2023 December 31, 2022 Ending duration US dollar to Euro: Fixed receiving notional $ 1,100 $ 1,100 Jul - 27 Fixed paying notional € 976 € 976 Jul - 27 US dollar to Euro: Fixed receiving notional $ 500 $ 500 Mar - 25 Fixed paying notional € 450 € 450 Mar - 25 US dollar to Japanese yen: Fixed receiving notional $ 100 $ 100 Feb - 29 Fixed paying notional ¥ 12,724 ¥ 12,724 Feb - 29 At September 30, 2023 and December 31, 2022, the following amounts were recorded in the Condensed Consolidated Balance Sheets as being payable to or receivable from counterparties under ASC Topic 815, “Derivatives and Hedging”: (in millions) Assets Liabilities Derivatives designated as hedging instruments Under 815: Location September 30, 2023 December 31, 2022 Location September 30, 2023 December 31, 2022 Foreign currency Prepayments and other current assets $ 31 $ 9 Other current liabilities $ 1 $ 8 Foreign currency Other non-current assets $ 5 $ — Other non-current liabilities $ — $ 1 Net investment hedges Other non-current assets $ 78 $ 68 Other non-current liabilities $ — $ 1 Derivatives not designated as hedging instruments: Foreign currency Prepayments and other current assets $ 3 $ 3 Other current liabilities $ 1 $ — Effectiveness for cash flow hedges is assessed at the inception of the hedging relationship and quarterly, thereafter. Gains and losses arising from these contracts that are included in the assessment of effectiveness are deferred into accumulated other comprehensive income (loss) (“AOCI”) and reclassified into income as the underlying operating transactions are recognized. These realized gains or losses offset the hedged transaction and are recorded on the same line in the statement of operations. The initial value of any component excluded from the assessment of effectiveness is recognized in income using a systematic and rational method over the life of the hedging instrument. Any difference between the change in fair value of the excluded component and amounts recognized in income under that systematic and rational method is recognized in AOCI. Effectiveness for net investment hedges is assessed at the inception of the hedging relationship and quarterly, thereafter. Gains and losses arising from these contracts that are included in the assessment of effectiveness are deferred into foreign currency translation adjustments and only released when the subsidiary being hedged is sold or substantially liquidated. The initial value of any component excluded from the assessment of effectiveness is recognized in income using a systematic and rational method over the life of the hedging instrument. Any difference between the change in fair value of the excluded component and amounts recognized in income under that systematic and rational method is recognized in AOCI. The table below shows deferred gains (losses) reported in AOCI as well as the amount expected to be reclassified to income in one year or less for designated net investment hedges. The amount expected to be reclassified to income in one year or less assumes no change in the current relationship of the hedged item at September 30, 2023 market rates. (in millions) Deferred gain (loss) in AOCI at Gain (loss) expected to be reclassified to income in one year or less Contract Type September 30, 2023 December 31, 2022 Net investment hedges: Foreign currency $ — $ (4) $ — Cross-currency swaps 78 67 — Foreign currency-denominated debt 146 133 — Total $ 224 $ 196 $ — Derivative instruments designated as hedging instruments as defined by ASC Topic 815 held during the period resulted in the following gains and losses recorded in income: Three Months Ended September 30, 2023 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 3,622 $ 2,970 $ 330 $ (17) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ (11) Nine Months Ended September 30, 2023 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 10,676 $ 8,767 $ 963 $ (39) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 27 Three Months Ended September 30, 2022 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 3,226 $ 2,619 $ 325 $ (262) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 8 Nine Months Ended September 30, 2022 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 9,318 $ 7,588 $ 951 $ (527) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 12 Gain (loss) reclassified from AOCI to income $ — $ (1) $ — The gains or losses recorded in income related to components excluded from the assessment of effectiveness for derivative instruments designated as cash flow hedges were immaterial for the periods presented. Gains and losses on derivative instruments designated as net investment hedges were recognized in other comprehensive income (loss) during the periods presented below. (in millions) Three Months Ended September 30, Nine Months Ended September 30, Net investment hedges 2023 2022 2023 2022 Foreign currency $ — $ 3 $ — $ 6 Cross-currency swaps $ 40 $ 94 $ 11 $ 229 Foreign currency-denominated debt $ 34 $ 67 $ 13 $ 156 Derivatives designated as net investment hedge instruments, as defined by ASC Topic 815, held during the period resulted in the following gains recorded in Interest expense on components excluded from the assessment of effectiveness: (in millions) Three Months Ended September 30, Nine Months Ended September 30, Net investment hedges 2023 2022 2023 2022 Cross-currency swaps $ 6 $ 7 $ 19 $ 20 There were no gains or losses recorded in income related to components excluded from the assessment of effectiveness for foreign currency-denominated debt designated as net investment hedges. There were no gains and losses reclassified from AOCI for net investment hedges during the periods presented. Derivatives not designated as hedging instruments are used to hedge remeasurement exposures of monetary assets and liabilities denominated in currencies other than the operating units’ functional currency. These derivatives resulted in the following gains (losses) recorded in income: (in millions) Three Months Ended September 30, Nine Months Ended September 30, Contract Type Location 2023 2022 2023 2022 Foreign Currency Selling, general and administrative expenses $ 16 $ 13 $ 8 $ 22

RETIREMENT BENEFIT PLANS

RETIREMENT BENEFIT PLANS	9 Months Ended
RETIREMENT BENEFIT PLANS	Sep. 30, 2023
Retirement Benefits [Abstract]
RETIREMENT BENEFIT PLANS	RETIREMENT BENEFIT PLANSThe Company has a number of defined benefit pension plans and other postemployment benefit plans covering eligible salaried and hourly employees and their dependents. The estimated contributions to the Company’s defined benefit pension plans for 2023 range from $15 million to $20 million, of which $14 million has been contributed through the nine months ended September 30, 2023. The other postemployment benefit plans, which provide medical and life insurance benefits, are funded on a pay-as-you-go basis. The components of net periodic benefit income and expense recorded in the Condensed Consolidated Statements of Operations are as follows: Pension benefits Other postemployment benefits (in millions) 2023 2022 Three Months Ended September 30, US Non-US US Non-US 2023 2022 Service cost $ — $ 4 $ — $ 4 $ — $ — Interest cost 2 26 1 3 — 1 Expected return on plan assets (1) (25) (3) (5) — — Amortization of unrecognized prior service credit — — (1) — (1) (1) Amortization of unrecognized loss 1 1 2 2 — — Net periodic benefit expense (income) $ 2 $ 6 $ (1) $ 4 $ (1) $ — Pension benefits Other postemployment benefits (in millions) 2023 2022 Nine Months Ended September 30, US Non-US US Non-US 2023 2022 Service cost $ — $ 11 $ — $ 14 $ — $ — Interest cost 5 37 3 10 1 1 Expected return on plan assets (4) (33) (6) (16) — — Amortization of unrecognized prior service credit — — (1) — (2) (2) Amortization of unrecognized loss 2 2 3 6 — — Net periodic benefit expense (income) $ 3 $ 17 $ (1) $ 14 $ (1) $ (1) The components of net periodic benefit income other than the service cost component are included in Other postretirement income in the Condensed Consolidated Statements of Operations.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
STOCKHOLDERS' EQUITY	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY The changes of the Stockholders’ Equity items during the three and nine months ended September 30, 2023 and 2022, are as follows: BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, June 30, 2023 $ 3 $ 2,657 $ (2,007) $ 7,796 $ (898) $ 230 $ 7,781 Dividends declared ($0.11 per share) — — — (26) — (5) (31) Net issuance for executive stock plan — 10 — — — — 10 Net issuance of restricted stock — 13 (3) — — — 10 Net earnings — — — 50 — 18 68 Other comprehensive loss — — — — (1) (4) (5) Spin-Off of PHINIA — — — (1,810) (16) — (1,826) Balance, September 30, 2023 $ 3 $ 2,680 $ (2,010) $ 6,010 $ (915) $ 239 $ 6,007 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, June 30, 2022 $ 3 $ 2,633 $ (1,936) $ 7,005 $ (816) $ 282 $ 7,171 Dividends declared ($0.17 per share) — — — (39) — (15) (54) Net issuance for executive stock plan — 6 (1) — — — 5 Net issuance of restricted stock — 11 (2) — — — 9 Purchase of treasury stock — — (100) — — — (100) Net earnings — — — 273 — 19 292 Other comprehensive loss — — — — (262) (24) (286) Balance, September 30, 2022 $ 3 $ 2,650 $ (2,039) $ 7,239 $ (1,078) $ 262 $ 7,037 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, December 31, 2022 $ 3 $ 2,675 $ (2,032) $ 7,454 $ (876) $ 284 $ 7,508 Dividends declared ($0.45 per share) — — — (105) — (63) (168) Net issuance for executive stock plan — 10 5 — — — 15 Net issuance of restricted stock — (3) 17 — — — 14 Purchase of noncontrolling interest — (2) — — — (13) (15) Net earnings — — — 471 — 49 520 Other comprehensive loss — — — — (23) (18) (41) Spin-Off of PHINIA — — — (1,810) (16) — (1,826) Balance, September 30, 2023 $ 3 $ 2,680 $ (2,010) $ 6,010 $ (915) $ 239 $ 6,007 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, December 31, 2021 $ 3 $ 2,637 $ (1,812) $ 6,671 $ (551) $ 314 $ 7,262 Dividends declared ($0.51 per share) — — — (121) — (64) (185) Net issuance for executive stock plan — 6 4 — — — 10 Net issuance of restricted stock — 6 9 — — — 15 Purchase/sale of noncontrolling interest — 1 — — — (4) (3) Purchase of treasury stock — — (240) — — — (240) Net earnings — — — 689 — 58 747 Other comprehensive loss — — — — (527) (42) (569) Balance, September 30, 2022 $ 3 $ 2,650 $ (2,039) $ 7,239 $ (1,078) $ 262 $ 7,037 __________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS	Sep. 30, 2023
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following tables summarize the activity within accumulated other comprehensive loss during the three and nine months ended September 30, 2023 and 2022: (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2023 $ (806) $ 42 $ (134) $ (898) Comprehensive income (loss) before reclassifications 17 (11) 5 11 Income taxes associated with comprehensive (loss) income before reclassifications (13) — 1 (12) Reclassification from accumulated other comprehensive loss — — 1 1 Income taxes reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2022 $ (703) $ 5 $ (118) $ (816) Comprehensive (loss) income before reclassifications (240) 8 3 (229) Income taxes associated with comprehensive (loss) income before reclassifications (34) — — (34) Reclassification from accumulated other comprehensive loss — — 2 2 Income taxes reclassified into net earnings — — (1) (1) Ending balance, September 30, 2022 $ (977) $ 13 $ (114) $ (1,078) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2022 $ (750) $ 4 $ (130) $ (876) Comprehensive (loss) income before reclassifications (51) 27 1 (23) Income taxes associated with comprehensive (loss) income before reclassifications (1) — — (1) Reclassification from accumulated other comprehensive loss — — 2 2 Income taxes reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2021 $ (423) $ — $ (128) $ (551) Comprehensive (loss) income before reclassifications (474) 12 9 (453) Income taxes associated with comprehensive (loss) income before reclassifications (80) — 1 (79) Reclassification from accumulated other comprehensive loss — 1 6 7 Income taxes reclassified into net earnings — — (2) (2) Ending balance, September 30, 2022 $ (977) $ 13 $ (114) $ (1,078)

CONTINGENCIES

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES In the normal course of business, the Company is party to various commercial and legal claims, actions and complaints, including matters involving warranty claims, intellectual property claims, governmental investigations and related proceedings, general liability and other risks. It is not possible to predict with certainty whether or not the Company will ultimately be successful in any of these commercial and legal matters or, if not, what the impact might be. The Company’s management does not believe that adverse outcomes in any of these commercial and legal claims, actions and complaints are reasonably likely to have a material adverse effect on the Company’s results of operations, financial position or cash flows. An adverse outcome could, nonetheless, be material to the results of operations or cash flows. Environmental The Company and certain of its current and former direct and indirect corporate predecessors, subsidiaries and divisions have been identified by the United States Environmental Protection Agency and certain state environmental agencies and private parties as potentially responsible parties (“PRPs”) at various hazardous waste disposal sites under the Comprehensive Environmental Response, Compensation and Liability Act (“Superfund”) and equivalent state laws and, as such, may be presently liable for the cost of clean-up and other remedial activities at 17 and 22 such sites as of September 30, 2023 and December 31, 2022, respectively. Responsibility for clean-up and other remedial activities at a Superfund site is typically shared among PRPs based on an allocation formula. The Company believes that none of these matters, individually or in the aggregate, will have a material adverse effect on its results of operations, financial position or cash flows. Generally, this is because either the estimates of the maximum potential liability at a site are not material or the liability will be shared with other PRPs, although no assurance can be given with respect to the ultimate outcome of any such matter. The Company had an accrual for environmental liabilities of $6 million as of both September 30, 2023 and December 31, 2022, included in Other current and Other non-current liabilities in the Condensed Consolidated Balance Sheets. As of September 30, 2023, this accrual, which relates to six of the sites, is based on information available to the Company (which, in most cases, includes an estimate of allocation of liability among PRPs; the probability that other PRPs, many of which are large, solvent public companies, will fully pay the cost apportioned to them; currently available information from PRPs and/or federal or state environmental agencies concerning the scope of contamination and estimated remediation and consulting costs; and remediation alternatives). Clean-up and other remedial activities are complete or nearing completion at the other 11 sites, for which there was no accrual as of September 30, 2023.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company presents both basic and diluted earnings per share of common stock (“EPS”) amounts. Basic EPS is calculated by dividing net earnings attributable to BorgWarner Inc. by the weighted average shares of common stock outstanding during the reporting period. Diluted EPS is calculated by dividing net earnings attributable to BorgWarner Inc. by the weighted average shares of common stock and common stock equivalents outstanding during the reporting period. The dilutive impact of stock-based compensation is calculated using the treasury stock method. The treasury stock method assumes that the Company uses the assumed proceeds from the exercise of awards to repurchase common stock at the average market price during the period. The assumed proceeds under the treasury stock method include the purchase price that the grantee will pay in the future and compensation cost for future service that the Company has not yet recognized. The dilutive effects of performance-based stock awards are included in the computation of diluted earnings per share at the level the related performance criteria are met through the respective balance sheet date. There were 0.8 million and 0.9 million performance share units excluded from the computation of the diluted earnings for both the three months ended September 30, 2023 and 2022, respectively. There were 0.7 million and 0.9 million performance share units excluded from the computation of the diluted earnings for the nine months ended September 30, 2023 and 2022, respectively. These units were excluded because the related performance criteria had not been met as of the balance sheet dates. The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share of common stock: Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2023 2022 2023 2022 Basic earnings per share: Net earnings from continuing operations $ 87 $ 173 $ 483 $ 464 Weighted average shares of common stock outstanding 233.4 234.3 233.2 236.5 Basic earnings per share of common stock $ 0.37 $ 0.74 $ 2.07 $ 1.96 Diluted earnings per share: Net earnings from continuing operations $ 87 $ 173 $ 483 $ 464 Weighted average shares of common stock outstanding 233.4 234.3 233.2 236.5 Effect of stock-based compensation 1.9 1.3 1.4 1.0 Weighted average shares of common stock outstanding including dilutive shares 235.3 235.6 234.6 237.5 Diluted earnings per share of common stock $ 0.37 $ 0.73 $ 2.06 $ 1.95

REPORTABLE SEGMENTS AND RELATED

REPORTABLE SEGMENTS AND RELATED INFORMATION	9 Months Ended
REPORTABLE SEGMENTS AND RELATED INFORMATION	Sep. 30, 2023
Segment Reporting [Abstract]
REPORTABLE SEGMENTS AND RELATED INFORMATION	REPORTABLE SEGMENTS AND RELATED INFORMATION The Company’s business is aggregated into three reportable segments: Air Management, Drivetrain & Battery Systems, and ePropulsion. These segments are strategic business groups that are managed separately as each represents a specific grouping of related automotive components and systems. In previous quarters, the Company presented two additional segments, Fuel Systems and Aftermarket, for a total of five reportable segments. As a result of the Spin-Off, Fuel Systems and Aftermarket are no longer reportable segments. In the first quarter of 2023, the Company elected to disaggregate the former e-Propulsion & Drivetrain reportable segment into two separate reportable segments of Drivetrain & Battery Systems and ePropulsion. The Drivetrain & Battery Systems segment’s technologies include battery management systems and control modules, software, friction and mechanical products for automatic transmissions and torque-management products. The ePropulsion segment primarily includes rotating electrical components, power electronics, electronic control units, inverters and electric motors. In the first quarter of 2022, the Company announced that the Americas starter and alternator business, previously reported in its former e-Propulsion & Drivetrain segment, would transition to the Aftermarket segment. The Company also announced in 2022 that the canisters and fuel delivery modules business, previously reported in its Air Management segment, would transition to the Fuel Systems segment. Both of these transitions were completed during the second quarter of 2022. Additionally, in the fourth quarter of 2022, the Company moved its battery systems business, previously reported in its Air Management segment, to the former e-Propulsion & Drivetrain segment. The reportable segment disclosures have been updated accordingly, including recasting prior period information for the new reporting structures and to reflect the discontinued operations related to the Spin-Off. Segment Adjusted Operating Income (Loss) is the measure of segment income or loss used by the Company. Segment Adjusted Operating Income (Loss) is comprised of operating income adjusted for restructuring, merger, acquisition and divestiture expense, intangible asset amortization expense, impairment charges and other items not reflective of ongoing operating income or loss. The Company believes Segment Adjusted Operating Income (Loss) is most reflective of the operational profitability or loss of our reportable segments. The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments: Net Sales by Reportable Segment Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in millions) Customers Inter-segment Net Customers Inter-segment Net Air Management $ 1,922 $ 23 $ 1,945 $ 5,888 $ 63 $ 5,951 Drivetrain & Battery Systems 1,144 1 1,145 3,216 2 3,218 ePropulsion 556 15 571 1,572 52 1,624 Inter-segment eliminations — (39) (39) — (117) (117) Net sales $ 3,622 $ — $ 3,622 $ 10,676 $ — $ 10,676 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 (in millions) Customers Inter-segment Net Customers Inter-segment Net Air Management $ 1,827 $ 16 $ 1,843 $ 5,283 $ 45 $ 5,328 Drivetrain & Battery Systems 954 — 954 2,745 — 2,745 ePropulsion 445 44 489 1,290 71 1,361 Inter-segment eliminations — (60) (60) — (116) (116) Net sales $ 3,226 $ — $ 3,226 $ 9,318 $ — $ 9,318 Total Assets of Continuing Operations by Reportable Segment (in millions) September 30, 2023 December 31, 2022 Air Management $ 5,559 $ 5,329 Drivetrain & Battery Systems 3,954 3,963 ePropulsion 2,847 2,349 Total 12,360 11,641 Corporate 1,744 1,691 Consolidated $ 14,104 $ 13,332 Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Air Management $ 294 $ 291 $ 884 $ 793 Drivetrain & Battery Systems 147 103 400 330 ePropulsion (20) (33) (74) (89) Segment Adjusted Operating Income 421 361 1,210 1,034 Corporate, including stock-based compensation 72 61 194 198 Restructuring expense (Note 5) 56 5 68 42 Intangible asset amortization expense 17 16 51 52 Merger and acquisition expense, net 3 5 22 13 Service and lease agreement termination — — 9 — Loss (gain) on sale of business — 9 (5) (15) Gain on sale of assets (7) — (13) — Other non-comparable items 8 — 5 — Equity in affiliates’ earnings, net of tax (10) (5) (23) (21) Realized and unrealized loss (gain) on debt and equity securities 60 (1) 129 27 Interest (income) expense, net (19) 12 3 41 Other postretirement expense (income) 3 (1) 8 (2) Earnings from continuing operations before income taxes and noncontrolling interest 238 260 762 699 Provision for income taxes 133 68 230 177 Net earnings from continuing operations $ 105 $ 192 $ 532 $ 522

OPERATING CASH FLOWS AND OTHER

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION	OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION Nine Months Ended September 30, (in millions) 2023 2022 OPERATING ACTIVITIES OF CONTINUING OPERATIONS Net earnings $ 520 $ 747 Net (loss) earnings from discontinued operations (12) 225 Net earnings from continuing operations 532 522 Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations: Depreciation and tooling amortization 376 360 Intangible asset amortization 51 52 Restructuring expense, net of cash paid 61 39 Stock-based compensation expense 50 36 Gain on debt extinguishment (28) — Gain on sale of business (5) (17) Deferred income tax expense (benefit) 19 (14) Realized and unrealized loss on debt and equity securities 129 27 Other non-cash adjustments (80) (1) Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations 1,105 1,004 Retirement plan contributions (13) (18) Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: Receivables (767) (544) Inventories (126) (187) Prepayments and other current assets (16) 11 Accounts payable and accrued expenses 301 274 Prepaid taxes and income taxes payable (44) 14 Other assets and liabilities 70 (2) Net cash provided by operating activities from continuing operations $ 510 $ 552 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the period for: Interest $ 105 $ 95 Income taxes, net of refunds $ 284 $ 204 Balance as of: Non-cash investing transactions: September 30, December 31, Period end accounts payable related to property, plant and equipment purchases $ 124 $ 165

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
DISCONTINUED OPERATIONS	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONSThe historical results of operations and the financial position of PHINIA for periods prior to the Spin-Off are presented as discontinued operations in these Condensed Consolidated Financial Statements. The following table summarizes the assets and liabilities from discontinued operations of PHINIA. ( in millions ) December 31, 2022 ASSETS Cash, cash equivalents and restricted cash $ 255 Receivables, net 852 Inventories, net 470 Prepayments and other current assets 39 Total current assets of discontinued operations $ 1,616 Property, plant and equipment, net 939 Investments and long-term receivables 77 Goodwill 419 Other intangible assets, net 432 Other non-current assets 179 Total non-current assets of discontinued operations $ 2,046 LIABILITIES Notes payable and other short-term debt $ 2 Accounts payable 538 Other current liabilities 406 Total current liabilities of discontinued operations $ 946 Long-term debt 26 Retirement-related liabilities 94 Other non-current liabilities 175 Total non-current liabilities of discontinued operations $ 295 The following table summarizes the financial results from discontinued operations of PHINIA. ( in millions ) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales $ — $ 857 $ 1,723 $ 2,496 Cost of sales — 658 1,362 1,958 Gross profit — 199 361 538 Selling, general and administrative expenses — 72 173 228 Restructuring expense — 3 7 8 Other operating expense, net 52 — 117 33 Operating (loss) income (52) 124 64 269 Equity in affiliates’ earnings, net of tax — (5) (5) (8) Interest expense, net — — — 1 Other postretirement expense (income) — (7) — (24) Earnings from discontinued operations before income taxes (52) 136 69 300 Provision for income taxes (15) 36 81 75 Net (loss) earnings from discontinued operations attributable to PHINIA $ (37) $ 100 $ (12) $ 225 In connection with the Spin-Off, the Company entered into a transition services agreement through which the Company and PHINIA will continue to provide certain services to each other following the Spin-Off. These services include IT, HR, finance, facilities, procurement, sales, IP & engineering costs. The combined impact of these services is reported in results of continuing operations in the Condensed Consolidated Financial Statements. The Company provided $7 million to PHINIA, and PHINIA provided $2 million to the Company, for these services during the three months ended September 30, 2023. The Company incurred $52 million and $117 million of costs relating to the Spin-Off during the three and nine months ended September 30, 2023, respectively, that are reflected within Net (loss) earnings from discontinued operations in our Condensed Consolidated Statements of Operations. Spin-Off costs are primarily comprised of professional fees and costs to separate certain operational activities.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 50	$ 273	$ 471	$ 689

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	The accompanying unaudited Condensed Consolidated Financial Statements of BorgWarner Inc. and Consolidated Subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a comprehensive presentation of financial position, results of operations and cash flow activity required by GAAP for complete financial statements. In the opinion of management, all normal recurring adjustments necessary for a fair statement of results have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The balance sheet as of December 31, 2022 was derived from the audited financial statements as of that date. For further information, refer to the Consolidated Financial Statements and Footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Use of Estimates	Management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and accompanying notes, as well as the amounts of revenues and expenses reported during the periods covered by those financial statements and accompanying notes. Actual results could differ from these estimates.
New Accounting Pronouncements	In October 2021, the FASB issued ASU No. 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers.” It requires entities to apply ASC Topic 606, “Revenue from Contracts with Customers,” to recognize and measure contract assets and contract liabilities in a business combination. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. This guidance is effective for interim and annual reporting periods beginning after December 15, 2022. The Company adopted this guidance prospectively as of January 1, 2023, and there was no impact in the Condensed Consolidated Financial Statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
ACQUISITIONS (Tables)	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Other Intangible Assets Acquired	The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 5 years $ 2 Customer relationships 6 years 1 Total other intangible assets $ 3 The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 8 years $ 11 Customer relationships 12 years 7 Total other intangible assets $ 18 The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 13 years $ 22 Customer relationships 8 years 5 Total other intangible assets $ 27 The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Customer relationships 12 years $ 62 Manufacturing processes (know-how) 10 years 25 Total other intangible assets $ 87

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables represent a disaggregation of revenue from contracts with customers by reportable segment and region. The balances for the three and nine months ended September 30, 2022 have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 542 $ 405 $ 118 $ 1,065 Europe 819 329 95 1,243 Asia 511 408 343 1,262 Other 50 2 — 52 Total $ 1,922 $ 1,144 $ 556 $ 3,622 Three Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 526 $ 376 $ 109 $ 1,011 Europe 729 226 49 1,004 Asia 522 352 297 1,171 Other 50 — (10) 40 Total $ 1,827 $ 954 $ 445 $ 3,226 Nine Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 1,622 $ 1,190 $ 388 $ 3,200 Europe 2,577 980 227 3,784 Asia 1,531 1,041 953 3,525 Other 158 5 4 167 Total $ 5,888 $ 3,216 $ 1,572 $ 10,676 Nine Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total North America $ 1,497 $ 1,020 $ 375 $ 2,892 Europe 2,156 724 148 3,028 Asia 1,490 1,001 762 3,253 Other 140 — 5 145 Total $ 5,283 $ 2,745 $ 1,290 $ 9,318

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
RESTRUCTURING (Tables)	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The Company’s restructuring expenses consist primarily of employee termination benefits (principally severance and/or termination benefits) and other costs, which are primarily professional fees and costs related to facility closures and exits. The balances for the three and nine months ended September 30, 2022 have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 53 $ 1 $ — $ — $ 54 Other 1 1 — — 2 Total restructuring expense $ 54 $ 2 $ — $ — $ 56 Three Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 5 $ — $ — $ — $ 5 Other — — — — — Total restructuring expense $ 5 $ — $ — $ — $ 5 Nine Months Ended September 30, 2023 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 62 $ 1 $ — $ — $ 63 Other 4 1 — — 5 Total restructuring expense $ 66 $ 2 $ — $ — $ 68 Nine Months Ended September 30, 2022 (in millions) Air Management Drivetrain & Battery Systems ePropulsion Corporate Total Employee termination benefits $ 19 $ 14 $ — $ (1) $ 32 Other — 9 1 — 10 Total restructuring expense $ 19 $ 23 $ 1 $ (1) $ 42
Schedule of Restructuring Reserve of Roll Forward of the Restructuring Liability	The following tables display a roll forward of the restructuring liability recorded within the Company’s Condensed Consolidated Balance Sheets and the related cash flow activity: (in millions) Employee Termination Benefits Other Total Balance at January 1, 2023 $ 39 $ 9 $ 48 Restructuring expense, net 63 5 68 Cash payments (32) (9) (41) Foreign currency translation adjustment and other (1) 2 1 Balance at September 30, 2023 69 7 76 Less: Non-current restructuring liability 7 — 7 Current restructuring liability at September 30, 2023 $ 62 $ 7 $ 69 (in millions) Employee Termination Benefits Other Total Balance at January 1, 2022 $ 66 $ 13 $ 79 Restructuring expense, net 32 10 42 Cash payments (39) (17) (56) Foreign currency translation adjustment and other (12) 2 (10) Balance at September 30, 2022 47 8 55 Less: Non-current restructuring liability 13 1 14 Current restructuring liability at September 30, 2022 $ 34 $ 7 $ 41

RESEARCH AND DEVELOPMENT COSTS

RESEARCH AND DEVELOPMENT COSTS (Tables)	9 Months Ended
RESEARCH AND DEVELOPMENT COSTS (Tables)	Sep. 30, 2023
Research and Development [Abstract]
Schedule of Research and Development Costs	The following table presents the Company’s gross and net expenditures on R&D activities: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2023 2022 2023 2022 Gross R&D expenditures $ 215 $ 190 $ 625 $ 566 Customer reimbursements (23) (12) (84) (32) Net R&D expenditures $ 192 $ 178 $ 541 $ 534

OTHER OPERATING (INCOME) EXPE_2

OTHER OPERATING (INCOME) EXPENSE, NET (Tables)	9 Months Ended
OTHER OPERATING (INCOME) EXPENSE, NET (Tables)	Sep. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Expense (Income), Net	Items included in Other operating expense, net consist of: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2023 2022 2023 2022 Merger and acquisition expense, net $ 2 $ 5 $ 18 $ 13 Service and lease agreement termination — — 9 — Asset impairments 2 — 2 — Loss (gain) on sale of business — 9 (5) (15) Gain on sale of assets (7) — (13) — Other (income) expense, net (3) (2) (12) (5) Other operating (income) expense, net $ (6) $ 12 $ (1) $ (7)

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
INVENTORIES, NET (Tables)	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	A summary of Inventories, net is presented below: September 30, December 31, (in millions) 2023 2022 Raw material and supplies $ 1,005 $ 919 Work in progress 154 136 Finished goods 202 187 FIFO inventories 1,361 1,242 LIFO reserve (33) (25) Inventories, net $ 1,328 $ 1,217

OTHER CURRENT AND NON-CURRENT_2

OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	9 Months Ended
OTHER CURRENT AND NON-CURRENT ASSETS (Tables)	Sep. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Additional Related Assets	Additional detail related to assets is presented below: September 30, December 31, ( in millions ) 2023 2022 Prepayments and other current assets: Prepaid tooling $ 99 $ 77 Prepaid taxes 40 33 Derivative instruments 34 12 Customer incentive payments (Note 4) 27 34 Contract assets (Note 4) 16 14 Other 56 60 Total prepayments and other current assets $ 272 $ 230 Investments and long-term receivables: Investment in debt securities $ 262 $ 455 Investment in equity affiliates 232 235 Equity securities 73 73 Long-term receivables 57 56 Total investments and long-term receivables $ 624 $ 819 Other non-current assets: Deferred income taxes $ 193 $ 179 Operating leases 128 106 Derivative instruments 83 68 Customer incentive payments (Note 4) 75 99 Other 39 37 Total other non-current assets $ 518 $ 489

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	9 Months Ended
GOODWILL AND OTHER INTANGIBLES (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	A summary of the changes in the carrying amount of goodwill are as follows: (in millions) Air Management Drivetrain & Battery Systems ePropulsion Total Gross goodwill balance, December 31, 2022 $ 1,566 $ 1,434 $ 480 $ 3,480 Accumulated impairment losses, December 31, 2022 (502) — — (502) Net goodwill balance, December 31, 2022* $ 1,064 $ 1,434 $ 480 $ 2,978 Goodwill during the period: Acquisitions 2 — — 2 Other, primarily translation adjustment (6) (10) (28) (44) Ending balance, September 30, 2023 $ 1,060 $ 1,424 $ 452 $ 2,936 __________________________________ * The December 31, 2022 balances have been recast for a change in reportable segments that was made during the first quarter of 2023. Refer to Note 22, “Reportable Segments And Related Information” for more information.
Schedule of Finite-Lived Intangible Assets	The Company’s other intangible assets, primarily from acquisitions, consist of the following: September 30, 2023 December 31, 2022 (in millions) Estimated useful lives (years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patented and unpatented technology 5 - 15 $ 349 $ 134 $ 215 $ 349 $ 111 $ 238 Customer relationships 6 - 15 620 287 333 639 267 372 Miscellaneous 2 - 5 9 6 3 9 6 3 Total amortized intangible assets 978 427 551 997 384 613 Unamortized trade names 6 — 6 6 — 6 Total other intangible assets $ 984 $ 427 $ 557 $ 1,003 $ 384 $ 619
Schedule of Indefinite-Lived Intangible Assets	The Company’s other intangible assets, primarily from acquisitions, consist of the following: September 30, 2023 December 31, 2022 (in millions) Estimated useful lives (years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patented and unpatented technology 5 - 15 $ 349 $ 134 $ 215 $ 349 $ 111 $ 238 Customer relationships 6 - 15 620 287 333 639 267 372 Miscellaneous 2 - 5 9 6 3 9 6 3 Total amortized intangible assets 978 427 551 997 384 613 Unamortized trade names 6 — 6 6 — 6 Total other intangible assets $ 984 $ 427 $ 557 $ 1,003 $ 384 $ 619

PRODUCT WARRANTY (Tables)

PRODUCT WARRANTY (Tables)	9 Months Ended
PRODUCT WARRANTY (Tables)	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following table summarizes the activity in the product warranty accrual accounts: (in millions) 2023 2022 Beginning balance, January 1 $ 185 $ 168 Provisions for current period sales 68 40 Adjustments of prior estimates — (6) Payments (53) (34) Other, primarily translation adjustment (6) (20) Ending balance, September 30 $ 194 $ 148 The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows: September 30, December 31, (in millions) 2023 2022 Other current liabilities $ 99 $ 110 Other non-current liabilities 95 75 Total product warranty liability $ 194 $ 185

NOTES PAYABLE AND DEBT (Tables)

NOTES PAYABLE AND DEBT (Tables)	9 Months Ended
NOTES PAYABLE AND DEBT (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	As of September 30, 2023 and December 31, 2022, the Company had debt outstanding as follows: September 30, December 31, ( in millions ) 2023 2022 Short-term borrowings $ 60 $ 58 Long-term debt 3.375% Senior notes due 03/15/25 ($500 million par value) 384 499 5.000% Senior notes due 10/01/25 ($800 million par value)* 481 840 2.650% Senior notes due 07/01/27 ($1,100 million par value) 1,093 1,092 7.125% Senior notes due 02/15/29 ($121 million par value) 120 120 1.000% Senior Notes due 05/19/31 (€1,000 million par value) 1,041 1,051 4.375% Senior notes due 03/15/45 ($500 million par value) 495 495 Term loan facilities, finance leases and other 54 45 Total long-term debt 3,668 4,142 Less: current portion 3 2 Long-term debt, net of current portion $ 3,665 $ 4,140 _____________________________ *These notes include the fair value step-up from the Delphi Technologies acquisition. The fair value step-up was calculated based on observable market data and is amortized as a reduction to interest expense over the remaining life of the instrument using the effective interest method.
Schedule of Consolidated Statements of Operations	The following table provides details on Interest expense, net included in the Condensed Consolidated Statements of Operations: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Interest expense $ 21 $ 16 $ 57 $ 53 Gain on debt extinguishment (28) — (28) — Interest income (12) (4) (26) (12) Interest expense, net $ (19) $ 12 $ 3 $ 41

OTHER CURRENT AND NON-CURRENT_3

OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables)	9 Months Ended
OTHER CURRENT AND NON-CURRENT LIABILITIES (Tables)	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Summary of Additional Details Related to Other Liabilities	Additional detail related to liabilities is presented in the table below: September 30, December 31, ( in millions ) 2023 2022 Other current liabilities: Payroll and employee related $ 268 $ 314 Customer related 161 108 Indirect taxes 119 115 Income taxes payable 72 107 Product warranties (Note 12) 99 110 Employee termination benefits (Note 5) 62 20 Operating leases 41 22 Accrued freight 38 30 Interest 22 22 Supplier related 17 15 Insurance 17 18 Deferred engineering reimbursements 14 23 Other non-income taxes 14 12 Dividends payable 11 21 Contract liabilities (Note 4) 11 14 Retirement related 11 11 Earn-out liability (Note 3) 2 16 Other 135 106 Total other current liabilities $ 1,114 $ 1,084 Other non-current liabilities: Other income tax liabilities $ 222 $ 242 Deferred income taxes 179 143 Product warranties (Note 12) 95 75 Operating leases 91 85 Deferred income 69 59 Earn-out liability (Note 3) 12 10 Employee termination benefits (Note 5) 7 17 Other 55 55 Total other non-current liabilities $ 730 $ 686

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	The following tables classify assets and liabilities measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022: Basis of fair value measurements (in millions) Balance at September 30, 2023 Quoted prices in active markets for identical items Significant other observable inputs Significant unobservable inputs Valuation technique Assets measured at NAV 1 Assets: Investment in debt securities $ 262 $ — $ 262 $ — A $ — Investment in equity securities $ 28 $ — $ — $ — — $ 28 Foreign currency contracts $ 39 $ — $ 39 $ — A $ — Net investment hedge contracts $ 78 $ — $ 78 $ — A $ — Liabilities: Current earn-out liabilities $ 2 $ — $ — $ 2 C $ — Non-current earn-out liabilities $ 12 $ — $ — $ 12 C $ — Foreign currency contracts $ 2 $ — $ 2 $ — A $ — Basis of fair value measurements (in millions) Balance at Quoted prices in active markets for identical items Significant other observable inputs Significant unobservable inputs Valuation Assets measured at NAV 1 Assets: Current earn-out receivable $ 9 $ — $ — $ 9 C $ — Investment in debt securities $ 455 $ — $ 455 $ — A $ — Investment in equity securities $ 29 $ — $ — $ — — $ 29 Foreign currency contracts $ 12 $ — $ 12 $ — A $ — Net investment hedge contracts $ 68 $ — $ 68 $ — A $ — Liabilities: Current earn-out liability $ 21 $ — $ — $ 21 C $ — Non-current earn-out liability $ 10 $ — $ — $ 10 C $ — Foreign currency contracts $ 9 $ — $ 9 $ — A $ — Net investment hedge contracts $ 1 $ — $ 1 $ — A $ —

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Foreign Exchange Derivative Contracts Outstanding	At September 30, 2023 and December 31, 2022, the following foreign currency derivative contracts were outstanding and mature through the ending duration noted below: Foreign currency derivatives (in millions)* Functional Currency Traded Currency Notional in traded currency Notional in traded currency Ending Duration British Pound Euro 47 10 Dec - 24 Chinese Renminbi US Dollar 225 276 Dec - 24 Euro Hungarian Forint 7,033 — Dec - 24 Euro Korean Won 20,225 9,138 Mar - 24 Euro Polish Zloty 456 440 Dec - 24 Euro US Dollar 136 120 Dec - 24 US Dollar Chinese Renminbi 582 1,402 Dec - 23 US Dollar Euro 42 45 Oct - 23 US Dollar Korean Won 67,200 51,786 Nov - 24 US Dollar Mexican Peso 2,295 2,474 Dec - 24 US Dollar Thailand Baht 1,550 — Jun - 24 *Table above excludes non-significant traded currency pairings with total notional amounts less than $10 million U.S. dollar equivalent as of September 30, 2023 and December 31, 2022.
Schedule of Foreign Exchange Contracts, Statement of Financial Position	At September 30, 2023 and December 31, 2022, the following cross-currency swap contracts were outstanding: Cross-currency swaps (in millions) September 30, 2023 December 31, 2022 Ending duration US dollar to Euro: Fixed receiving notional $ 1,100 $ 1,100 Jul - 27 Fixed paying notional € 976 € 976 Jul - 27 US dollar to Euro: Fixed receiving notional $ 500 $ 500 Mar - 25 Fixed paying notional € 450 € 450 Mar - 25 US dollar to Japanese yen: Fixed receiving notional $ 100 $ 100 Feb - 29 Fixed paying notional ¥ 12,724 ¥ 12,724 Feb - 29
Schedule of Derivatives Instruments in Statements of Financial Position	At September 30, 2023 and December 31, 2022, the following amounts were recorded in the Condensed Consolidated Balance Sheets as being payable to or receivable from counterparties under ASC Topic 815, “Derivatives and Hedging”: (in millions) Assets Liabilities Derivatives designated as hedging instruments Under 815: Location September 30, 2023 December 31, 2022 Location September 30, 2023 December 31, 2022 Foreign currency Prepayments and other current assets $ 31 $ 9 Other current liabilities $ 1 $ 8 Foreign currency Other non-current assets $ 5 $ — Other non-current liabilities $ — $ 1 Net investment hedges Other non-current assets $ 78 $ 68 Other non-current liabilities $ — $ 1 Derivatives not designated as hedging instruments: Foreign currency Prepayments and other current assets $ 3 $ 3 Other current liabilities $ 1 $ —
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The table below shows deferred gains (losses) reported in AOCI as well as the amount expected to be reclassified to income in one year or less for designated net investment hedges. The amount expected to be reclassified to income in one year or less assumes no change in the current relationship of the hedged item at September 30, 2023 market rates. (in millions) Deferred gain (loss) in AOCI at Gain (loss) expected to be reclassified to income in one year or less Contract Type September 30, 2023 December 31, 2022 Net investment hedges: Foreign currency $ — $ (4) $ — Cross-currency swaps 78 67 — Foreign currency-denominated debt 146 133 — Total $ 224 $ 196 $ — Gains and losses on derivative instruments designated as net investment hedges were recognized in other comprehensive income (loss) during the periods presented below. (in millions) Three Months Ended September 30, Nine Months Ended September 30, Net investment hedges 2023 2022 2023 2022 Foreign currency $ — $ 3 $ — $ 6 Cross-currency swaps $ 40 $ 94 $ 11 $ 229 Foreign currency-denominated debt $ 34 $ 67 $ 13 $ 156
Schedule of Derivative Instruments	Derivative instruments designated as hedging instruments as defined by ASC Topic 815 held during the period resulted in the following gains and losses recorded in income: Three Months Ended September 30, 2023 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 3,622 $ 2,970 $ 330 $ (17) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ (11) Nine Months Ended September 30, 2023 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 10,676 $ 8,767 $ 963 $ (39) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 27 Three Months Ended September 30, 2022 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 3,226 $ 2,619 $ 325 $ (262) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 8 Nine Months Ended September 30, 2022 (in millions) Net sales Cost of sales Selling, general and administrative expenses Other comprehensive income (loss) Total amounts of earnings and other comprehensive income (loss) line items in which the effects of cash flow hedges are recorded $ 9,318 $ 7,588 $ 951 $ (527) Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 12 Gain (loss) reclassified from AOCI to income $ — $ (1) $ —
Schedule of Derivative Instruments, Gain (Loss)	Derivatives designated as net investment hedge instruments, as defined by ASC Topic 815, held during the period resulted in the following gains recorded in Interest expense on components excluded from the assessment of effectiveness: (in millions) Three Months Ended September 30, Nine Months Ended September 30, Net investment hedges 2023 2022 2023 2022 Cross-currency swaps $ 6 $ 7 $ 19 $ 20
Schedule of Derivatives Not Designated as Hedging Instruments	Derivatives not designated as hedging instruments are used to hedge remeasurement exposures of monetary assets and liabilities denominated in currencies other than the operating units’ functional currency. These derivatives resulted in the following gains (losses) recorded in income: (in millions) Three Months Ended September 30, Nine Months Ended September 30, Contract Type Location 2023 2022 2023 2022 Foreign Currency Selling, general and administrative expenses $ 16 $ 13 $ 8 $ 22

RETIREMENT BENEFIT PLANS (Table

RETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
RETIREMENT BENEFIT PLANS (Tables)	Sep. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Benefit (Income) Costs	The components of net periodic benefit income and expense recorded in the Condensed Consolidated Statements of Operations are as follows: Pension benefits Other postemployment benefits (in millions) 2023 2022 Three Months Ended September 30, US Non-US US Non-US 2023 2022 Service cost $ — $ 4 $ — $ 4 $ — $ — Interest cost 2 26 1 3 — 1 Expected return on plan assets (1) (25) (3) (5) — — Amortization of unrecognized prior service credit — — (1) — (1) (1) Amortization of unrecognized loss 1 1 2 2 — — Net periodic benefit expense (income) $ 2 $ 6 $ (1) $ 4 $ (1) $ — Pension benefits Other postemployment benefits (in millions) 2023 2022 Nine Months Ended September 30, US Non-US US Non-US 2023 2022 Service cost $ — $ 11 $ — $ 14 $ — $ — Interest cost 5 37 3 10 1 1 Expected return on plan assets (4) (33) (6) (16) — — Amortization of unrecognized prior service credit — — (1) — (2) (2) Amortization of unrecognized loss 2 2 3 6 — — Net periodic benefit expense (income) $ 3 $ 17 $ (1) $ 14 $ (1) $ (1)

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The changes of the Stockholders’ Equity items during the three and nine months ended September 30, 2023 and 2022, are as follows: BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, June 30, 2023 $ 3 $ 2,657 $ (2,007) $ 7,796 $ (898) $ 230 $ 7,781 Dividends declared ($0.11 per share) — — — (26) — (5) (31) Net issuance for executive stock plan — 10 — — — — 10 Net issuance of restricted stock — 13 (3) — — — 10 Net earnings — — — 50 — 18 68 Other comprehensive loss — — — — (1) (4) (5) Spin-Off of PHINIA — — — (1,810) (16) — (1,826) Balance, September 30, 2023 $ 3 $ 2,680 $ (2,010) $ 6,010 $ (915) $ 239 $ 6,007 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, June 30, 2022 $ 3 $ 2,633 $ (1,936) $ 7,005 $ (816) $ 282 $ 7,171 Dividends declared ($0.17 per share) — — — (39) — (15) (54) Net issuance for executive stock plan — 6 (1) — — — 5 Net issuance of restricted stock — 11 (2) — — — 9 Purchase of treasury stock — — (100) — — — (100) Net earnings — — — 273 — 19 292 Other comprehensive loss — — — — (262) (24) (286) Balance, September 30, 2022 $ 3 $ 2,650 $ (2,039) $ 7,239 $ (1,078) $ 262 $ 7,037 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, December 31, 2022 $ 3 $ 2,675 $ (2,032) $ 7,454 $ (876) $ 284 $ 7,508 Dividends declared ($0.45 per share) — — — (105) — (63) (168) Net issuance for executive stock plan — 10 5 — — — 15 Net issuance of restricted stock — (3) 17 — — — 14 Purchase of noncontrolling interest — (2) — — — (13) (15) Net earnings — — — 471 — 49 520 Other comprehensive loss — — — — (23) (18) (41) Spin-Off of PHINIA — — — (1,810) (16) — (1,826) Balance, September 30, 2023 $ 3 $ 2,680 $ (2,010) $ 6,010 $ (915) $ 239 $ 6,007 BorgWarner Inc. stockholders' equity (in millions) Issued common stock Capital in excess of par value Treasury stock Retained earnings Accumulated other comprehensive income (loss) Noncontrolling interests Total Balance, December 31, 2021 $ 3 $ 2,637 $ (1,812) $ 6,671 $ (551) $ 314 $ 7,262 Dividends declared ($0.51 per share) — — — (121) — (64) (185) Net issuance for executive stock plan — 6 4 — — — 10 Net issuance of restricted stock — 6 9 — — — 15 Purchase/sale of noncontrolling interest — 1 — — — (4) (3) Purchase of treasury stock — — (240) — — — (240) Net earnings — — — 689 — 58 747 Other comprehensive loss — — — — (527) (42) (569) Balance, September 30, 2022 $ 3 $ 2,650 $ (2,039) $ 7,239 $ (1,078) $ 262 $ 7,037 __________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	Sep. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables summarize the activity within accumulated other comprehensive loss during the three and nine months ended September 30, 2023 and 2022: (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2023 $ (806) $ 42 $ (134) $ (898) Comprehensive income (loss) before reclassifications 17 (11) 5 11 Income taxes associated with comprehensive (loss) income before reclassifications (13) — 1 (12) Reclassification from accumulated other comprehensive loss — — 1 1 Income taxes reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2022 $ (703) $ 5 $ (118) $ (816) Comprehensive (loss) income before reclassifications (240) 8 3 (229) Income taxes associated with comprehensive (loss) income before reclassifications (34) — — (34) Reclassification from accumulated other comprehensive loss — — 2 2 Income taxes reclassified into net earnings — — (1) (1) Ending balance, September 30, 2022 $ (977) $ 13 $ (114) $ (1,078) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2022 $ (750) $ 4 $ (130) $ (876) Comprehensive (loss) income before reclassifications (51) 27 1 (23) Income taxes associated with comprehensive (loss) income before reclassifications (1) — — (1) Reclassification from accumulated other comprehensive loss — — 2 2 Income taxes reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2021 $ (423) $ — $ (128) $ (551) Comprehensive (loss) income before reclassifications (474) 12 9 (453) Income taxes associated with comprehensive (loss) income before reclassifications (80) — 1 (79) Reclassification from accumulated other comprehensive loss — 1 6 7 Income taxes reclassified into net earnings — — (2) (2) Ending balance, September 30, 2022 $ (977) $ 13 $ (114) $ (1,078)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	The following table reconciles the numerators and denominators used to calculate basic and diluted earnings per share of common stock: Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share amounts) 2023 2022 2023 2022 Basic earnings per share: Net earnings from continuing operations $ 87 $ 173 $ 483 $ 464 Weighted average shares of common stock outstanding 233.4 234.3 233.2 236.5 Basic earnings per share of common stock $ 0.37 $ 0.74 $ 2.07 $ 1.96 Diluted earnings per share: Net earnings from continuing operations $ 87 $ 173 $ 483 $ 464 Weighted average shares of common stock outstanding 233.4 234.3 233.2 236.5 Effect of stock-based compensation 1.9 1.3 1.4 1.0 Weighted average shares of common stock outstanding including dilutive shares 235.3 235.6 234.6 237.5 Diluted earnings per share of common stock $ 0.37 $ 0.73 $ 2.06 $ 1.95

REPORTABLE SEGMENTS AND RELAT_2

REPORTABLE SEGMENTS AND RELATED INFORMATION (Tables)	9 Months Ended
REPORTABLE SEGMENTS AND RELATED INFORMATION (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Net Sales and Total Assets by Reporting Segment	The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments: Net Sales by Reportable Segment Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in millions) Customers Inter-segment Net Customers Inter-segment Net Air Management $ 1,922 $ 23 $ 1,945 $ 5,888 $ 63 $ 5,951 Drivetrain & Battery Systems 1,144 1 1,145 3,216 2 3,218 ePropulsion 556 15 571 1,572 52 1,624 Inter-segment eliminations — (39) (39) — (117) (117) Net sales $ 3,622 $ — $ 3,622 $ 10,676 $ — $ 10,676 Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022 (in millions) Customers Inter-segment Net Customers Inter-segment Net Air Management $ 1,827 $ 16 $ 1,843 $ 5,283 $ 45 $ 5,328 Drivetrain & Battery Systems 954 — 954 2,745 — 2,745 ePropulsion 445 44 489 1,290 71 1,361 Inter-segment eliminations — (60) (60) — (116) (116) Net sales $ 3,226 $ — $ 3,226 $ 9,318 $ — $ 9,318 Total Assets of Continuing Operations by Reportable Segment (in millions) September 30, 2023 December 31, 2022 Air Management $ 5,559 $ 5,329 Drivetrain & Battery Systems 3,954 3,963 ePropulsion 2,847 2,349 Total 12,360 11,641 Corporate 1,744 1,691 Consolidated $ 14,104 $ 13,332
Schedule of Segment Earnings Before Interest and Income Taxes	Segment Adjusted Operating Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2023 2022 2023 2022 Air Management $ 294 $ 291 $ 884 $ 793 Drivetrain & Battery Systems 147 103 400 330 ePropulsion (20) (33) (74) (89) Segment Adjusted Operating Income 421 361 1,210 1,034 Corporate, including stock-based compensation 72 61 194 198 Restructuring expense (Note 5) 56 5 68 42 Intangible asset amortization expense 17 16 51 52 Merger and acquisition expense, net 3 5 22 13 Service and lease agreement termination — — 9 — Loss (gain) on sale of business — 9 (5) (15) Gain on sale of assets (7) — (13) — Other non-comparable items 8 — 5 — Equity in affiliates’ earnings, net of tax (10) (5) (23) (21) Realized and unrealized loss (gain) on debt and equity securities 60 (1) 129 27 Interest (income) expense, net (19) 12 3 41 Other postretirement expense (income) 3 (1) 8 (2) Earnings from continuing operations before income taxes and noncontrolling interest 238 260 762 699 Provision for income taxes 133 68 230 177 Net earnings from continuing operations $ 105 $ 192 $ 532 $ 522

OPERATING CASH FLOWS AND OTHE_2

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Nine Months Ended September 30, (in millions) 2023 2022 OPERATING ACTIVITIES OF CONTINUING OPERATIONS Net earnings $ 520 $ 747 Net (loss) earnings from discontinued operations (12) 225 Net earnings from continuing operations 532 522 Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations: Depreciation and tooling amortization 376 360 Intangible asset amortization 51 52 Restructuring expense, net of cash paid 61 39 Stock-based compensation expense 50 36 Gain on debt extinguishment (28) — Gain on sale of business (5) (17) Deferred income tax expense (benefit) 19 (14) Realized and unrealized loss on debt and equity securities 129 27 Other non-cash adjustments (80) (1) Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations 1,105 1,004 Retirement plan contributions (13) (18) Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: Receivables (767) (544) Inventories (126) (187) Prepayments and other current assets (16) 11 Accounts payable and accrued expenses 301 274 Prepaid taxes and income taxes payable (44) 14 Other assets and liabilities 70 (2) Net cash provided by operating activities from continuing operations $ 510 $ 552 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the period for: Interest $ 105 $ 95 Income taxes, net of refunds $ 284 $ 204 Balance as of: Non-cash investing transactions: September 30, December 31, Period end accounts payable related to property, plant and equipment purchases $ 124 $ 165

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
DISCONTINUED OPERATIONS (Tables)	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations	The following table summarizes the assets and liabilities from discontinued operations of PHINIA. ( in millions ) December 31, 2022 ASSETS Cash, cash equivalents and restricted cash $ 255 Receivables, net 852 Inventories, net 470 Prepayments and other current assets 39 Total current assets of discontinued operations $ 1,616 Property, plant and equipment, net 939 Investments and long-term receivables 77 Goodwill 419 Other intangible assets, net 432 Other non-current assets 179 Total non-current assets of discontinued operations $ 2,046 LIABILITIES Notes payable and other short-term debt $ 2 Accounts payable 538 Other current liabilities 406 Total current liabilities of discontinued operations $ 946 Long-term debt 26 Retirement-related liabilities 94 Other non-current liabilities 175 Total non-current liabilities of discontinued operations $ 295 The following table summarizes the financial results from discontinued operations of PHINIA. ( in millions ) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net sales $ — $ 857 $ 1,723 $ 2,496 Cost of sales — 658 1,362 1,958 Gross profit — 199 361 538 Selling, general and administrative expenses — 72 173 228 Restructuring expense — 3 7 8 Other operating expense, net 52 — 117 33 Operating (loss) income (52) 124 64 269 Equity in affiliates’ earnings, net of tax — (5) (5) (8) Interest expense, net — — — 1 Other postretirement expense (income) — (7) — (24) Earnings from discontinued operations before income taxes (52) 136 69 300 Provision for income taxes (15) 36 81 75 Net (loss) earnings from discontinued operations attributable to PHINIA $ (37) $ 100 $ (12) $ 225

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Jul. 03, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Distribution of outstanding common stock percentage	100%
Conversion ratio of common stock distribution	0.2

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) € in Millions, ¥ in Millions, SFr in Millions, $ in Millions

9 Months Ended

12 Months Ended

Mar. 01, 2023 USD ($)

Mar. 01, 2023 CNY (¥)

Dec. 01, 2022 USD ($)

Dec. 01, 2022 CHF (SFr)

Jul. 29, 2022 USD ($)

Mar. 31, 2022 USD ($)

Mar. 31, 2022 CNY (¥)

Sep. 30, 2023 USD ($)

Sep. 30, 2023 CNY (¥)

Dec. 31, 2022 USD ($)

Dec. 31, 2022 CNY (¥)

Sep. 30, 2023 CNY (¥)

Sep. 30, 2023 CHF (SFr)

Jun. 19, 2023 USD ($)

Jun. 19, 2023 EUR (€)

Mar. 31, 2023 USD ($)

Mar. 01, 2023 CNY (¥)

Dec. 01, 2022 CHF (SFr)

Mar. 31, 2022 CNY (¥)

Business Acquisition [Line Items]

Goodwill

$ 2,936

$ 2,978

ePropulsion

Business Acquisition [Line Items]

Goodwill

452

480

Eldor Corporation’s Electric Hybrid Systems Business

Business Acquisition [Line Items]

Earn out payment liability

$ 79

€ 75

Contractual earn-out payments

$ 185

€ 175

Retention payment payable period

2 years

Hubei Surpass Sun Electric Charging Business

Business Acquisition [Line Items]

Contractual earn-out payments

$ 15

¥ 103

Business acquisition, percentage of voting interests acquired

100%

Business consideration

$ 42

¥ 288

Base purchase price

268

Payments to acquire businesses

¥ 217

Remaining consideration payable

¥ 51

Estimated fair values of assets acquired and liabilities assumed, assets

Estimated fair value of goodwill and intangibles

Estimated fair values of assets acquired and liabilities assumed, liabilities

$ 3

Goodwill

$ 2

Hubei Surpass Sun Electric Charging Business | Other current liabilities

Business Acquisition [Line Items]

Consideration payable in next two years

Consideration payable in next three months

¥ 31

Drivetek AG

Business Acquisition [Line Items]

Contractual earn-out payments

$ 10

SFr 10

Retention payment payable period

3 years

Business acquisition, percentage of voting interests acquired

100%

Payments to acquire businesses

$ 29

SFr 27

Estimated fair values of assets acquired and liabilities assumed, assets

Estimated fair value of goodwill and intangibles

Estimated fair values of assets acquired and liabilities assumed, liabilities

Goodwill

$ 22

Other non-current liability

SFr 10

Rhombus Energy Solutions

Business Acquisition [Line Items]

Contractual earn-out payments

$ 30

Business acquisition, percentage of voting interests acquired

100%

Payments to acquire businesses

$ 131

Goodwill

104

Rhombus Energy Solutions | Employee Retention Payment

Business Acquisition [Line Items]

Contractual earn-out payments

$ 25

Retention payment payable period

3 years

Santroll Automotive Components

Business Acquisition [Line Items]

Earn out payment liability

$ 40

¥ 200

¥ 250

Contractual earn-out payments

$ 47

¥ 300

Business acquisition, percentage of voting interests acquired

100%

Business consideration

$ 192

Base purchase price

$ 152

¥ 1,000

Payments to acquire businesses

157

¥ 1,000

Business combination, other operating expense

$ 5

Santroll Automotive Components | ePropulsion

Business Acquisition [Line Items]

Goodwill

$ 112

ACQUISITIONS - Schedule of Othe

ACQUISITIONS - Schedule of Other Intangible Assets Acquired (Details) - USD ($) $ in Millions	Mar. 01, 2023	Dec. 01, 2022	Jul. 29, 2022	Mar. 31, 2022
Hubei Surpass Sun Electric Charging Business
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 3
Hubei Surpass Sun Electric Charging Business \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Life	5 years
Estimated Fair Value	$ 2
Hubei Surpass Sun Electric Charging Business \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life	6 years
Estimated Fair Value	$ 1
Drivetek AG
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value		$ 18
Drivetek AG \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Life		8 years
Estimated Fair Value		$ 11
Drivetek AG \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life		12 years
Estimated Fair Value		$ 7
Rhombus Energy Solutions
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value			$ 27
Rhombus Energy Solutions \| Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Life			13 years
Estimated Fair Value			$ 22
Rhombus Energy Solutions \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life			8 years
Estimated Fair Value			$ 5
Santroll Automotive Components
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value				$ 87
Santroll Automotive Components \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life				12 years
Estimated Fair Value				$ 62
Santroll Automotive Components \| Manufacturing processes (know-how)
Finite-Lived Intangible Assets [Line Items]
Estimated Life				10 years
Estimated Fair Value				$ 25

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Allowance for credit loss	$ 16	$ 14
Contract liabilities - current	11	14
Customer incentive payments	27	34
Customer incentive payments, noncurrent	$ 75	99
Minimum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction (in years)	3 years
Maximum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction (in years)	7 years
Other current liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities - current	$ 11	14
Prepayments and other current assets
Disaggregation of Revenue [Line Items]
Customer incentive payments	27	34
Other non-current assets
Disaggregation of Revenue [Line Items]
Customer incentive payments, noncurrent	$ 75	$ 99

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 3,622	$ 3,226	$ 10,676	$ 9,318
Air Management
Disaggregation of Revenue [Line Items]
Net sales	1,922	1,827	5,888	5,283
Drivetrain & Battery Systems
Disaggregation of Revenue [Line Items]
Net sales	1,144	954	3,216	2,745
ePropulsion
Disaggregation of Revenue [Line Items]
Net sales	556	445	1,572	1,290
North America
Disaggregation of Revenue [Line Items]
Net sales	1,065	1,011	3,200	2,892
North America \| Air Management
Disaggregation of Revenue [Line Items]
Net sales	542	526	1,622	1,497
North America \| Drivetrain & Battery Systems
Disaggregation of Revenue [Line Items]
Net sales	405	376	1,190	1,020
North America \| ePropulsion
Disaggregation of Revenue [Line Items]
Net sales	118	109	388	375
Europe
Disaggregation of Revenue [Line Items]
Net sales	1,243	1,004	3,784	3,028
Europe \| Air Management
Disaggregation of Revenue [Line Items]
Net sales	819	729	2,577	2,156
Europe \| Drivetrain & Battery Systems
Disaggregation of Revenue [Line Items]
Net sales	329	226	980	724
Europe \| ePropulsion
Disaggregation of Revenue [Line Items]
Net sales	95	49	227	148
Asia
Disaggregation of Revenue [Line Items]
Net sales	1,262	1,171	3,525	3,253
Asia \| Air Management
Disaggregation of Revenue [Line Items]
Net sales	511	522	1,531	1,490
Asia \| Drivetrain & Battery Systems
Disaggregation of Revenue [Line Items]
Net sales	408	352	1,041	1,001
Asia \| ePropulsion
Disaggregation of Revenue [Line Items]
Net sales	343	297	953	762
Other
Disaggregation of Revenue [Line Items]
Net sales	52	40	167	145
Other \| Air Management
Disaggregation of Revenue [Line Items]
Net sales	50	50	158	140
Other \| Drivetrain & Battery Systems
Disaggregation of Revenue [Line Items]
Net sales	2	0	5	0
Other \| ePropulsion
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ (10)	$ 4	$ 5

RESTRUCTURING - Reserve by Type

RESTRUCTURING - Reserve by Type of Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid			$ 61	$ 39
Restructuring expense	$ 56	$ 5	68	42
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	(1)
Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	54	5	66	19
Drivetrain & Battery Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	2	0	2	23
ePropulsion
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	1
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense	54	5	63	32
Employee termination benefits \| Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	(1)
Employee termination benefits \| Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	53	5	62	19
Employee termination benefits \| Drivetrain & Battery Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	0	1	14
Employee termination benefits \| ePropulsion
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring expense	2	0	5	10
Other \| Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	0
Other \| Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	0	4	0
Other \| Drivetrain & Battery Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	0	1	9
Other \| ePropulsion
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	$ 0	$ 0	$ 0	$ 1

RESTRUCTURING - Roll Forward of

RESTRUCTURING - Roll Forward of Restructuring Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 48	$ 79
Restructuring expense, net	$ 56	$ 5	68	42
Cash payments			(41)	(56)
Foreign currency translation adjustment and other			1	(10)
Restructuring reserve, ending balance	76	55	76	55
Less: Non-current restructuring liability	7	14	7	14
Current restructuring liability	69	41	69	41
Employee Termination Benefits
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			39	66
Restructuring expense, net	54	5	63	32
Cash payments			(32)	(39)
Foreign currency translation adjustment and other			(1)	(12)
Restructuring reserve, ending balance	69	47	69	47
Less: Non-current restructuring liability	7	13	7	13
Current restructuring liability	62	34	62	34
Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			9	13
Restructuring expense, net	2	0	5	10
Cash payments			(9)	(17)
Foreign currency translation adjustment and other			2	2
Restructuring reserve, ending balance	7	8	7	8
Less: Non-current restructuring liability	0	1	0	1
Current restructuring liability	$ 7	$ 7	$ 7	$ 7

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
RESTRUCTURING - Narrative (Details) $ in Millions	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) employee	Sep. 30, 2022 USD ($) employee	Dec. 31, 2020 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net	$ 56	$ 5	$ 68	$ 42
Restructuring expense, net of cash paid			61	39
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net	54	5	63	32
Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	54	5	66	19
Air Management \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	53	5	62	19
Drivetrain & Battery Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	2	0	2	23
Drivetrain & Battery Systems \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	0	1	14
ePropulsion
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	1
ePropulsion \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	0
2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net	56		68
2023 Restructuring Plan \| Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan	130		130
2023 Restructuring Plan \| Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan	150		150
2023 Restructuring Plan \| Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	54		$ 66
2023 Restructuring Plan \| Air Management \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated (in employees) \| employee			200
2023 Restructuring Plan \| Drivetrain & Battery Systems \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	$ 2		$ 2
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan					$ 300
2020 Restructuring Plan \| Air Management
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid		$ 5		19
2020 Restructuring Plan \| Air Management \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid				$ 11
Number of positions eliminated (in employees) \| employee				47
2020 Restructuring Plan \| Drivetrain & Battery Systems \| Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid				$ 14
Number of positions eliminated (in employees) \| employee				80
2020 Restructuring Plan \| Drivetrain & Battery Systems \| Contractual settlements and professional fees
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid				$ 9

RESEARCH AND DEVELOPMENT COST_2

RESEARCH AND DEVELOPMENT COSTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Research and Development [Abstract]
Gross R&D expenditures	$ 215	$ 190	$ 625	$ 566
Customer reimbursements	(23)	(12)	(84)	(32)
Net R&D expenditures	$ 192	$ 178	$ 541	$ 534

OTHER OPERATING (INCOME) EXPE_3

OTHER OPERATING (INCOME) EXPENSE, NET - Other Operating Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Income and Expenses [Abstract]
Merger and acquisition expense, net	$ 2	$ 5	$ 18	$ 13
Service and lease agreement termination	0	0	9	0
Asset impairments	2	0	2	0
Loss (gain) on sale of business	0	(9)	5	15
Gain on sale of assets	(7)	0	(13)	0
Other (income) expense, net	(3)	(2)	(12)	(5)
Other operating (income) expense, net	$ (6)	$ 12	$ (1)	$ (7)

OTHER OPERATING (INCOME) EXPE_4

OTHER OPERATING (INCOME) EXPENSE, NET - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Merger and acquisition expense, net	$ 2	$ 5	$ 18	$ 13
Gain on sale of business	0	(9)	5	15
Gain on sale of assets	$ 7	$ 0	$ 13	0
BorgWarner Romeo Power LLC
Business Acquisition [Line Items]
Gain on sale of business				$ (24)
Percent of ownership interest disposal				60%

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation (as percent)	56%	26%	30%	25%
Discrete tax expense (benefit)	$ (31)	$ (1)	$ (14)	$ (8)
Tax law changes, expense (benefit)	(87)		(9)	$ 39
Decrease in unrecognized tax benefits			97
Spinoff
Income Tax Contingency [Line Items]
Discrete tax expense (benefit)	$ (12)		85
Tax law changes, expense (benefit)			$ 41

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw material and supplies	$ 1,005	$ 919
Work in progress	154	136
Finished goods	202	187
FIFO inventories	1,361	1,242
LIFO reserve	(33)	(25)
Inventories, net	$ 1,328	$ 1,217

OTHER CURRENT AND NON-CURRENT_4

OTHER CURRENT AND NON-CURRENT ASSETS (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Prepayments and other current assets:
Prepaid tooling	$ 99	$ 77
Derivative instruments	34	12
Prepaid taxes	40	33
Customer incentive payments (Note 4)	27	34
Contract assets (Note 4)	16	14
Other	56	60
Total prepayments and other current assets	272	230
Investments and long-term receivables:
Investment in debt securities	262	455
Investment in equity affiliates	232	235
Long-term receivables	57	56
Equity securities	73	73
Total investments and long-term receivables	624	819
Other non-current assets:
Operating leases	128	106
Deferred income taxes	193	179
Customer incentive payments (Note 4)	75	99
Derivative instruments	83	68
Other	39	37
Total other non-current assets	$ 518	$ 489

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES - Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2022	$ 3,480
Accumulated impairment losses, December 31, 2022		$ (502)
Beginning balance, December 31, 2022	2,978
Acquisitions	2
Other, primarily translation adjustment	(44)
Ending balance, September 30, 2023	2,936
Air Management
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2022	1,566
Accumulated impairment losses, December 31, 2022		(502)
Beginning balance, December 31, 2022	1,064
Acquisitions	2
Other, primarily translation adjustment	(6)
Ending balance, September 30, 2023	1,060
Drivetrain & Battery Systems
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2022	1,434
Accumulated impairment losses, December 31, 2022		0
Beginning balance, December 31, 2022	1,434
Acquisitions	0
Other, primarily translation adjustment	(10)
Ending balance, September 30, 2023	1,424
ePropulsion
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2022	480
Accumulated impairment losses, December 31, 2022		$ 0
Beginning balance, December 31, 2022	480
Acquisitions	0
Other, primarily translation adjustment	(28)
Ending balance, September 30, 2023	$ 452

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	$ 978	$ 997
Amortized intangible assets, accumulated amortization	427	384
Amortized intangible assets, net carrying amount	551	613
Intangible assets, gross (excluding goodwill)	984	1,003
Other intangible assets, net	557	619
Unamortized trade names
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Unamortized trade names	6	6
Patented and unpatented technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	349	349
Amortized intangible assets, accumulated amortization	134	111
Amortized intangible assets, net carrying amount	215	238
Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	620	639
Amortized intangible assets, accumulated amortization	287	267
Amortized intangible assets, net carrying amount	333	372
Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	9	9
Amortized intangible assets, accumulated amortization	6	6
Amortized intangible assets, net carrying amount	$ 3	$ 3
Minimum \| Patented and unpatented technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	5 years
Minimum \| Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	6 years
Minimum \| Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	2 years
Maximum \| Patented and unpatented technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	15 years
Maximum \| Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	15 years
Maximum \| Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	5 years

PRODUCT WARRANTY - Narrative (D

PRODUCT WARRANTY - Narrative (Details)	9 Months Ended
PRODUCT WARRANTY - Narrative (Details)	Sep. 30, 2023
Minimum
Guarantor Obligations [Line Items]
Product warranty term	1 year
Maximum
Guarantor Obligations [Line Items]
Product warranty term	3 years

PRODUCT WARRANTY - Product Warr

PRODUCT WARRANTY - Product Warranty Accrual Accounts (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Product warranty rollforward
Beginning balance, January 1	$ 185	$ 168
Provisions for current period sales	68	40
Adjustments of prior estimates	0	(6)
Payments	(53)	(34)
Other, primarily translation adjustment	(6)	(20)
Ending balance, September 30	194	148
Other current liabilities	99		$ 110
Other non-current liabilities	95		75
Total product warranty liability	$ 194	$ 148	$ 185

NOTES PAYABLE AND DEBT - Debt O

NOTES PAYABLE AND DEBT - Debt Outstanding (Details)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Long-term debt
Total long-term debt	$ 3,668,000,000		$ 4,142,000,000
Less: current portion	3,000,000		2,000,000
Long-term debt, net of current portion	3,665,000,000		4,140,000,000
Senior notes \| 3.375% Senior notes due 03/15/25 ($500 million par value)
Long-term debt
Long-term debt	$ 384,000,000		499,000,000
Debt instrument stated interest rate	3.375%	3.375%
Debt instrument face value	$ 500,000,000
Senior notes \| 5.000% Senior notes due 10/01/25 ($800 million par value)
Long-term debt
Long-term debt	$ 481,000,000		840,000,000
Debt instrument stated interest rate	5%	5%
Debt instrument face value	$ 800,000,000
Senior notes \| 2.650% Senior notes due 07/01/27 ($1,100 million par value)
Long-term debt
Long-term debt	$ 1,093,000,000		1,092,000,000
Debt instrument stated interest rate	2.65%	2.65%
Debt instrument face value	$ 1,100,000,000
Senior notes \| 7.125% Senior notes due 02/15/29 ($121 million par value)
Long-term debt
Long-term debt	$ 120,000,000		120,000,000
Debt instrument stated interest rate	7.125%	7.125%
Debt instrument face value	$ 121,000,000
Senior notes \| 1.000% Senior Notes due 05/19/31 (€1,000 million par value)
Long-term debt
Long-term debt	$ 1,041,000,000		1,051,000,000
Debt instrument stated interest rate	1%	1%
Debt instrument face value \| €		€ 1,000,000,000
Senior notes \| 4.375% Senior notes due 03/15/45 ($500 million par value)
Long-term debt
Long-term debt	$ 495,000,000		495,000,000
Debt instrument stated interest rate	4.375%	4.375%
Debt instrument face value	$ 500,000,000
Term Loan \| Term loan facilities, finance leases and other
Long-term debt
Long-term debt	$ 54,000,000		$ 45,000,000

NOTES PAYABLE AND DEBT - Narrat

NOTES PAYABLE AND DEBT - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
NOTES PAYABLE AND DEBT - Narrative (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Oct. 01, 2020	Mar. 13, 2020
Line of Credit Facility
Cash consideration paid on debt extinguishment	$ 430,000,000
Gain on debt extinguishment		$ 28,000,000	$ 0	$ 28,000,000	$ 0
Unamortized Premium and debt issuance costs	20,000,000	20,000,000		20,000,000
Potential additional increase to credit facility	2,000,000,000	2,000,000,000		2,000,000,000
Estimated fair value of senior unsecured notes	3,099,000,000	3,099,000,000		3,099,000,000		$ 3,530,000,000
Debt, difference between fair value and carrying value	(515,000,000)	(515,000,000)		(515,000,000)		(567,000,000)
Letters of credit outstanding, amount	35,000,000	35,000,000		35,000,000		31,000,000
Senior notes
Line of Credit Facility
Extinguishment of debt, amount	438,000,000
Short Term Borrowings
Line of Credit Facility
Short-term borrowings	60,000,000	60,000,000		$ 60,000,000		58,000,000
Short Term Borrowings \| Euribor
Line of Credit Facility
Basis spread on variable rate				1.75%
Revolving Credit Facility
Line of Credit Facility
Maximum borrowing capacity							$ 2,000,000,000
Potential additional increase to credit facility								$ 1,000,000,000
Line of credit outstanding	0	0		$ 0		0
Commercial Paper
Line of Credit Facility
Current borrowing capacity	2,000,000,000	2,000,000,000		2,000,000,000
Short-term, Unsecured Commercial Paper Notes
Line of Credit Facility
Line of credit outstanding	0	$ 0		$ 0		$ 0
3.375% Senior notes due 03/15/25 ($500 million par value) \| Senior notes
Line of Credit Facility
Extinguishment of debt, amount	$ 115,000,000
Debt instrument stated interest rate	3.375%	3.375%		3.375%
5.000% Senior notes due 10/01/25 ($800 million par value) \| Senior notes
Line of Credit Facility
Extinguishment of debt, amount	$ 323,000,000
Debt instrument stated interest rate	5%	5%		5%
Cash Settlement \| Senior notes
Line of Credit Facility
Gain on debt extinguishment		$ (8,000,000)

NOTES PAYABLE AND DEBT - Schedu

NOTES PAYABLE AND DEBT - Schedule of Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Disclosure [Abstract]
Interest expense	$ 21	$ 16	$ 57	$ 53
Gain on debt extinguishment	(28)	0	(28)	0
Interest income	(12)	(4)	(26)	(12)
Interest expense, net	$ (19)	$ 12	$ 3	$ 41

OTHER CURRENT AND NON-CURRENT_5

OTHER CURRENT AND NON-CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Other current liabilities:
Payroll and employee related	$ 268	$ 314
Customer related	161	108
Indirect taxes	119	115
Income taxes payable	72	107
Product warranties (Note 12)	99	110
Employee termination benefits (Note 5)	62	20
Operating leases	41	22
Accrued freight	38	30
Interest	22	22
Supplier related	17	15
Insurance	17	18
Deferred engineering reimbursements	14	23
Other non-income taxes	14	12
Dividends payable	11	21
Contract liabilities (Note 4)	11	14
Retirement related	11	11
Earn-out liability (Note 3)	2	16
Other	135	106
Total other current liabilities	1,114	1,084
Other non-current liabilities:
Other income tax liabilities	222	242
Deferred income taxes	179	143
Product warranties (Note 12)	95	75
Operating leases	91	85
Deferred income	69	59
Earn-out liability (Note 3)	12	10
Employee termination benefits (Note 5)	7	17
Other	55	55
Total other non-current liabilities	$ 730	$ 686

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Fair value, recurring - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Income approach
Assets:
Current earn-out receivable		$ 9
Liabilities:
Current earn-out liabilities	$ 2	21
Non-current earn-out liability	12	10
Income approach \| Quoted prices in active markets for identical items (Level 1)
Assets:
Current earn-out receivable		0
Liabilities:
Current earn-out liabilities	0	0
Non-current earn-out liability	0	0
Income approach \| Significant other observable inputs (Level 2)
Assets:
Current earn-out receivable		0
Liabilities:
Current earn-out liabilities	0	0
Non-current earn-out liability	0	0
Income approach \| Significant unobservable inputs (Level 3)
Assets:
Current earn-out receivable		9
Liabilities:
Current earn-out liabilities	2	21
Non-current earn-out liability	12	10
Income approach \| Assets Measured at NAV
Assets:
Current earn-out receivable		0
Liabilities:
Current earn-out liabilities	0	0
Non-current earn-out liability	0	0
Market approach
Assets:
Investment in debt securities	262	455
Investment in equity securities	28	29
Foreign currency contracts	39	12
Net investment hedge contracts	78	68
Liabilities:
Foreign currency contracts	2	9
Net investment hedge contracts		1
Market approach \| Quoted prices in active markets for identical items (Level 1)
Assets:
Investment in debt securities	0	0
Investment in equity securities	0	0
Foreign currency contracts	0	0
Net investment hedge contracts	0	0
Liabilities:
Foreign currency contracts	0	0
Net investment hedge contracts		0
Market approach \| Significant other observable inputs (Level 2)
Assets:
Investment in debt securities	262	455
Investment in equity securities	0	0
Foreign currency contracts	39	12
Net investment hedge contracts	78	68
Liabilities:
Foreign currency contracts	2	9
Net investment hedge contracts		1
Market approach \| Significant unobservable inputs (Level 3)
Assets:
Investment in debt securities	0	0
Investment in equity securities	0	0
Foreign currency contracts	0	0
Net investment hedge contracts	0	0
Liabilities:
Foreign currency contracts	0	0
Net investment hedge contracts		0
Market approach \| Assets Measured at NAV
Assets:
Investment in debt securities	0	0
Investment in equity securities	28	29
Foreign currency contracts	0	0
Net investment hedge contracts	0	0
Liabilities:
Foreign currency contracts	$ 0	0
Net investment hedge contracts		$ 0

FINANCIAL INSTRUMENTS - Foreign

FINANCIAL INSTRUMENTS - Foreign Currency Derivative Contract (Details) € in Millions, ₩ in Millions, ฿ in Millions, ¥ in Millions, zł in Millions, Ft in Millions, $ in Millions, $ in Millions

Sep. 30, 2023 EUR (€)

Sep. 30, 2023 USD ($)

Sep. 30, 2023 HUF (Ft)

Sep. 30, 2023 KRW (₩)

Sep. 30, 2023 PLN (zł)

Sep. 30, 2023 CNY (¥)

Sep. 30, 2023 MXN ($)

Sep. 30, 2023 THB (฿)

Dec. 31, 2022 EUR (€)

Dec. 31, 2022 USD ($)

Dec. 31, 2022 HUF (Ft)

Dec. 31, 2022 KRW (₩)

Dec. 31, 2022 PLN (zł)

Dec. 31, 2022 CNY (¥)

Dec. 31, 2022 MXN ($)

Dec. 31, 2022 THB (฿)

British Pound | Foreign currency

Derivative [Line Items]

Derivative, notional amount | €

€ 47

€ 10

Chinese Renminbi | Foreign currency

Derivative [Line Items]

Derivative, notional amount

$ 225

$ 276

Euro | Foreign currency

Derivative [Line Items]

Derivative, notional amount

136

Ft 7,033

₩ 20,225

zł 456

120

Ft 0

₩ 9,138

zł 440

US Dollar

Derivative [Line Items]

Derivative, notional amount

$ 10

US Dollar | Foreign currency

Derivative [Line Items]

Derivative, notional amount

€ 42

₩ 67,200

¥ 582

$ 2,295

฿ 1,550

€ 45

₩ 51,786

¥ 1,402

$ 2,474

฿ 0

FINANCIAL INSTRUMENTS - Cross-C

FINANCIAL INSTRUMENTS - Cross-Currency Swap Contract (Details) € in Millions, ¥ in Millions, $ in Millions	Sep. 30, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 JPY (¥)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)
US Dollar
Derivative [Line Items]
Derivative, notional amount		$ 10			$ 10
Cross-currency swaps \| US Dollar \| Maturity period July 2027
Derivative [Line Items]
Derivative, notional amount		1,100			1,100
Cross-currency swaps \| US Dollar \| Maturity period March 2025
Derivative [Line Items]
Derivative, notional amount		500			500
Cross-currency swaps \| US Dollar \| Maturity period Feb 2029
Derivative [Line Items]
Derivative, notional amount		$ 100			$ 100
Cross-currency swaps \| Euro \| Maturity period July 2027
Derivative [Line Items]
Derivative, notional amount \| €	€ 976			€ 976
Cross-currency swaps \| Euro \| Maturity period March 2025
Derivative [Line Items]
Derivative, notional amount \| €	€ 450			€ 450
Cross-currency swaps \| Japanese Yen \| Maturity period Feb 2029
Derivative [Line Items]
Derivative, notional amount \| ¥			¥ 12,724			¥ 12,724

FINANCIAL INSTRUMENTS - Balance

FINANCIAL INSTRUMENTS - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Designated as hedging instrument \| Foreign currency \| Prepayments and other current assets
Derivatives, Fair Value
Derivative assets	$ 31	$ 9
Designated as hedging instrument \| Foreign currency \| Other current liabilities
Derivatives, Fair Value
Derivative liability	1	8
Designated as hedging instrument \| Foreign currency \| Other non-current assets
Derivatives, Fair Value
Derivative assets	5	0
Designated as hedging instrument \| Foreign currency \| Other non-current liabilities
Derivatives, Fair Value
Derivative liability	0	1
Designated as hedging instrument \| Cross-currency swaps \| Other non-current assets \| Net investment hedging
Derivatives, Fair Value
Derivative assets	78	68
Designated as hedging instrument \| Cross-currency swaps \| Other non-current liabilities \| Net investment hedging
Derivatives, Fair Value
Derivative liability	0	1
Not designated as hedging instrument \| Foreign currency \| Prepayments and other current assets
Derivatives, Fair Value
Derivative assets	3	3
Not designated as hedging instrument \| Foreign currency \| Other current liabilities
Derivatives, Fair Value
Derivative liability	$ 1	$ 0

FINANCIAL INSTRUMENTS - AOCI (D

FINANCIAL INSTRUMENTS - AOCI (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value
Accumulated other comprehensive income (loss), cumulative changes in net gain (loss) from hedges, before tax	$ 224	$ 196
Gain (loss) expected to be reclassified to income in one year or less	0
Foreign currency \| Net investment hedging
Derivatives, Fair Value
Accumulated other comprehensive income (loss), cumulative changes in net gain (loss) from hedges, before tax	0	(4)
Gain (loss) expected to be reclassified to income in one year or less	0
Cross-currency swaps \| Net investment hedging
Derivatives, Fair Value
Accumulated other comprehensive income (loss), cumulative changes in net gain (loss) from hedges, before tax	78	67
Gain (loss) expected to be reclassified to income in one year or less	0
Foreign currency-denominated debt \| Net investment hedging
Derivatives, Fair Value
Accumulated other comprehensive income (loss), cumulative changes in net gain (loss) from hedges, before tax	146	$ 133
Gain (loss) expected to be reclassified to income in one year or less	$ 0

FINANCIAL INSTRUMENTS - Income

FINANCIAL INSTRUMENTS - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments, Gain (Loss)
Net sales	$ 3,622	$ 3,226	$ 10,676	$ 9,318
Cost of sales	2,970	2,619	8,767	7,588
Selling, general and administrative expenses	330	325	963	951
Other comprehensive income (loss)	(17)	(262)	(39)	(527)
Gain (loss) on cash flow hedging relationships:
Gain (loss) recognized in other comprehensive income	$ (11)	$ 8	$ 27	12
Foreign currency \| Cash flow hedging \| Gain (loss) reclassified from AOCI to income
Derivative Instruments, Gain (Loss)
Net sales				0
Cost of sales				(1)
Selling, general and administrative expenses				$ 0

FINANCIAL INSTRUMENTS - Other C

FINANCIAL INSTRUMENTS - Other Comprehensive Income (Loss) (Details) - Net investment hedging - Other comprehensive income (loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Foreign currency
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	$ 0	$ 3	$ 0	$ 6
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	40	94	11	229
Foreign currency-denominated debt
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	$ 34	$ 67	$ 13	$ 156

FINANCIAL INSTRUMENTS - Derivat

FINANCIAL INSTRUMENTS - Derivative Instruments Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Net investment hedges	$ 6	$ 7	$ 19	$ 20

FINANCIAL INSTRUMENTS - Deriv_2

FINANCIAL INSTRUMENTS - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative [Line Items]
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, general and administrative expenses	Selling, general and administrative expenses	Selling, general and administrative expenses	Selling, general and administrative expenses
Foreign currency \| Not designated as hedging instrument
Derivative [Line Items]
Gain (loss) on derivatives not designated as hedges	$ 16	$ 13	$ 8	$ 22

RETIREMENT BENEFIT PLANS - Narr

RETIREMENT BENEFIT PLANS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Actual contribution to defined benefit pension plans	$ 14
Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions, current fiscal year	15
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions, current fiscal year	$ 20

RETIREMENT BENEFIT PLANS - Net

RETIREMENT BENEFIT PLANS - Net Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pension benefits \| US
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	2	1	5	3
Expected return on plan assets	(1)	(3)	(4)	(6)
Amortization of unrecognized prior service credit	0	(1)	0	(1)
Amortization of unrecognized loss	1	2	2	3
Net periodic benefit expense (income)	2	(1)	3	(1)
Pension benefits \| Non-US
Defined Benefit Plan Disclosure [Line Items]
Service cost	4	4	11	14
Interest cost	26	3	37	10
Expected return on plan assets	(25)	(5)	(33)	(16)
Amortization of unrecognized prior service credit	0	0	0	0
Amortization of unrecognized loss	1	2	2	6
Net periodic benefit expense (income)	6	4	17	14
Other postemployment benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	1	1	1
Expected return on plan assets	0	0	0	0
Amortization of unrecognized prior service credit	(1)	(1)	(2)	(2)
Amortization of unrecognized loss	0	0	0	0
Net periodic benefit expense (income)	$ (1)	$ 0	$ (1)	$ (1)

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 7,508
Net earnings	$ 68	$ 292	520	$ 747
Other comprehensive loss	47	$ 6	463	$ 178
Ending balance	$ 6,007		$ 6,007
Dividends declared (in dollar per share)	$ 0.11	$ 0.17	$ 0.45	$ 0.51
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 7,781	$ 7,171	$ 7,508	$ 7,262
Dividends declared	(31)	(54)	(168)	(185)
Net issuance for executive stock plan	10	5	15	10
Net issuance of restricted stock	10	9	14	15
Purchase/sale of noncontrolling interest			(15)	(3)
Purchase of treasury stock		(100)		(240)
Net earnings	68	292	520	747
Other comprehensive loss	(5)	(286)	(41)	(569)
Spin-Off of PHINIA	(1,826)		(1,826)
Ending balance	6,007	7,037	6,007	7,037
Issued common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3	3	3	3
Ending balance	3	3	3	3
Capital in excess of par value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,657	2,633	2,675	2,637
Net issuance for executive stock plan	10	6	10	6
Net issuance of restricted stock	13	11	(3)	6
Purchase/sale of noncontrolling interest			(2)	1
Ending balance	2,680	2,650	2,680	2,650
Treasury stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(2,007)	(1,936)	(2,032)	(1,812)
Net issuance for executive stock plan		(1)	5	4
Net issuance of restricted stock	(3)	(2)	17	9
Purchase of treasury stock		(100)		(240)
Ending balance	(2,010)	(2,039)	(2,010)	(2,039)
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	7,796	7,005	7,454	6,671
Dividends declared	(26)	(39)	(105)	(121)
Net earnings	50	273	471	689
Spin-Off of PHINIA	(1,810)		(1,810)
Ending balance	6,010	7,239	6,010	7,239
Accumulated other comprehensive income (loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(898)	(816)	(876)	(551)
Other comprehensive loss	(1)	(262)	(23)	(527)
Spin-Off of PHINIA	(16)		(16)
Ending balance	(915)	(1,078)	(915)	(1,078)
Noncontrolling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	230	282	284	314
Dividends declared	(5)	(15)	(63)	(64)
Purchase/sale of noncontrolling interest			(13)	(4)
Net earnings	18	19	49	58
Other comprehensive loss	(4)	(24)	(18)	(42)
Ending balance	$ 239	$ 262	$ 239	$ 262

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 7,508
Comprehensive (loss) income before reclassifications	$ 11	$ (229)	(23)	$ (453)
Income taxes associated with comprehensive (loss) income before reclassifications	(12)	(34)	(1)	(79)
Reclassification from accumulated other comprehensive loss	1	2	2	7
Income taxes reclassified into net earnings	(133)	(68)	(230)	(177)
Spin-Off of PHINIA	(16)		(16)
Ending balance	6,007		6,007
Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes reclassified into net earnings	(1)	(1)	(1)	(2)
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(898)	(816)	(876)	(551)
Ending balance	(915)	(1,078)	(915)	(1,078)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(806)	(703)	(750)	(423)
Comprehensive (loss) income before reclassifications	17	(240)	(51)	(474)
Income taxes associated with comprehensive (loss) income before reclassifications	(13)	(34)	(1)	(80)
Reclassification from accumulated other comprehensive loss	0	0	0	0
Spin-Off of PHINIA	(20)		(20)
Ending balance	(822)	(977)	(822)	(977)
Foreign currency translation adjustments \| Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes reclassified into net earnings	0	0	0	0
Hedge instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	42	5	4	0
Comprehensive (loss) income before reclassifications	(11)	8	27	12
Income taxes associated with comprehensive (loss) income before reclassifications	0	0	0	0
Reclassification from accumulated other comprehensive loss	0	0	0	1
Spin-Off of PHINIA	(1)		(1)
Ending balance	30	13	30	13
Hedge instruments \| Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes reclassified into net earnings	0	0	0	0
Defined benefit retirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(134)	(118)	(130)	(128)
Comprehensive (loss) income before reclassifications	5	3	1	9
Income taxes associated with comprehensive (loss) income before reclassifications	1	0	0	1
Reclassification from accumulated other comprehensive loss	1	2	2	6
Spin-Off of PHINIA	5		5
Ending balance	(123)	(114)	(123)	(114)
Defined benefit retirement plans \| Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes reclassified into net earnings	$ (1)	$ (1)	$ (1)	$ (2)

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Millions	9 Months Ended	12 Months Ended
CONTINGENCIES (Details) $ in Millions	Sep. 30, 2023 USD ($) site	Dec. 31, 2022 USD ($) site
Commitments and Contingencies Disclosure [Abstract]
Waste disposal sites	17	22
Accrual for environmental loss contingencies \| $	$ 6	$ 6
Number of sites with accrual	6
Completed or near completed clean up activities	11

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.8	0.9	0.7	0.9

EARNINGS PER SHARE - Basic and

EARNINGS PER SHARE - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic earnings per share:
Net earnings from continuing operations	$ 87	$ 173	$ 483	$ 464
Weighted average shares of common stock outstanding (in shares)	233.4	234.3	233.2	236.5
Basic earnings per share of common stock (in dollars per share)	$ 0.37	$ 0.74	$ 2.07	$ 1.96
Diluted earnings per share:
Net earnings from continuing operations	$ 87	$ 173	$ 483	$ 464
Weighted average shares of common stock outstanding (in shares)	233.4	234.3	233.2	236.5
Effect of stock-based compensation (in shares)	1.9	1.3	1.4	1
Weighted average shares of common stock outstanding including dilutive shares (in shares)	235.3	235.6	234.6	237.5
Diluted earnings per share of common stock (in dollars per share)	$ 0.37	$ 0.73	$ 2.06	$ 1.95

REPORTABLE SEGMENTS AND RELAT_3

REPORTABLE SEGMENTS AND RELATED INFORMATION - Narrative (Details) - segment	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023
Segment Reporting [Abstract]
Number of reportable segments (segments)	5		3
Number of newly disaggregated segments (segments)		2
Number of additional reportable segments (segments)	2

REPORTABLE SEGMENTS AND RELAT_4

REPORTABLE SEGMENTS AND RELATED INFORMATION - Net sales and total assets by reporting segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information
Net sales	$ 3,622	$ 3,226	$ 10,676	$ 9,318
Total assets	14,104		14,104		$ 13,332
Customers
Segment Reporting Information
Net sales	3,622	3,226	10,676	9,318
Inter-segment
Segment Reporting Information
Net sales	0	0	0	0
Operating segments
Segment Reporting Information
Total assets	12,360		12,360		11,641
Inter-segment eliminations
Segment Reporting Information
Net sales	(39)	(60)	(117)	(116)
Inter-segment eliminations \| Customers
Segment Reporting Information
Net sales	0	0	0	0
Inter-segment eliminations \| Inter-segment
Segment Reporting Information
Net sales	(39)	(60)	(117)	(116)
Corporate
Segment Reporting Information
Total assets	1,744		1,744		1,691
Air Management
Segment Reporting Information
Net sales	1,922	1,827	5,888	5,283
Air Management \| Operating segments
Segment Reporting Information
Net sales	1,945	1,843	5,951	5,328
Total assets	5,559		5,559		5,329
Air Management \| Operating segments \| Customers
Segment Reporting Information
Net sales	1,922	1,827	5,888	5,283
Air Management \| Operating segments \| Inter-segment
Segment Reporting Information
Net sales	23	16	63	45
Drivetrain & Battery Systems
Segment Reporting Information
Net sales	1,144	954	3,216	2,745
Drivetrain & Battery Systems \| Operating segments
Segment Reporting Information
Net sales	1,145	954	3,218	2,745
Total assets	3,954		3,954		3,963
Drivetrain & Battery Systems \| Operating segments \| Customers
Segment Reporting Information
Net sales	1,144	954	3,216	2,745
Drivetrain & Battery Systems \| Operating segments \| Inter-segment
Segment Reporting Information
Net sales	1	0	2	0
ePropulsion
Segment Reporting Information
Net sales	556	445	1,572	1,290
ePropulsion \| Operating segments
Segment Reporting Information
Net sales	571	489	1,624	1,361
Total assets	2,847		2,847		$ 2,349
ePropulsion \| Operating segments \| Customers
Segment Reporting Information
Net sales	556	445	1,572	1,290
ePropulsion \| Operating segments \| Inter-segment
Segment Reporting Information
Net sales	$ 15	$ 44	$ 52	$ 71

REPORTABLE SEGMENTS AND RELAT_5

REPORTABLE SEGMENTS AND RELATED INFORMATION - Earnings before interest and income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information
Segment Adjusted Operating Income	$ 421	$ 361	$ 1,210	$ 1,034
Corporate, including stock-based compensation	72	61	194	198
Restructuring expense	56	5	68	42
Intangible asset amortization expense	17	16	51	52
Merger and acquisition expense, net	3	5	22	13
Service and lease agreement termination	0	0	9	0
Loss (gain) on sale of business	0	(9)	5	15
Gain on sale of assets	(7)	0	(13)	0
Other non-comparable items	8	0	5	0
Equity in affiliates’ earnings, net of tax	(10)	(5)	(23)	(21)
Realized and unrealized loss (gain) on debt and equity securities	60	(1)	129	27
Interest (income) expense, net	(19)	12	3	41
Other postretirement expense (income)	3	(1)	8	(2)
Earnings from continuing operations before income taxes and noncontrolling interest	238	260	762	699
Provision for income taxes	133	68	230	177
Net earnings from continuing operations	105	192	532	522
Air Management
Segment Reporting Information
Segment Adjusted Operating Income	294	291	884	793
Drivetrain & Battery Systems
Segment Reporting Information
Segment Adjusted Operating Income	147	103	400	330
ePropulsion
Segment Reporting Information
Segment Adjusted Operating Income	$ (20)	$ (33)	$ (74)	$ (89)

OPERATING CASH FLOWS AND OTHE_3

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Net earnings	$ 68	$ 292	$ 520	$ 747
Net (loss) earnings from discontinued operations	(37)	100	(12)	225
Net earnings from continuing operations	105	192	532	522
Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations:
Depreciation and tooling amortization			376	360
Intangible asset amortization	17	16	51	52
Restructuring expense, net of cash paid			61	39
Stock-based compensation expense			50	36
Gain on debt extinguishment	(28)	0	(28)	0
Gain on sale of business			(5)	(17)
Deferred income tax expense (benefit)			19	(14)
Realized and unrealized loss (gain) on debt and equity securities	$ 60	$ (1)	129	27
Other non-cash adjustments			(80)	(1)
Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations			1,105	1,004
Retirement plan contributions			(13)	(18)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments:
Receivables			(767)	(544)
Inventories			(126)	(187)
Prepayments and other current assets			(16)	11
Accounts payable and accrued expenses			301	274
Prepaid taxes and income taxes payable			(44)	14
Other assets and liabilities			70	(2)
Net cash provided by operating activities from continuing operations			510	552
Cash paid during the period for:
Interest			105	95
Income taxes, net of refunds			284	$ 204
Non-cash investing transactions:
Period end accounts payable related to property, plant and equipment purchases			$ 124		$ 165

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - Phinia - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, services			$ 7
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other operating expense, net	$ 52	$ 0	$ 117	$ 33
Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, services	$ 2

DISCONTINUED OPERATIONS - Asset

DISCONTINUED OPERATIONS - Assets and Liabilities from Discontinued Operations (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Current assets of discontinued operations	$ 0	$ 1,616
Total non-current assets of discontinued operations	0	2,046
LIABILITIES
Total non-current liabilities of discontinued operations	$ 0	295
Phinia \| Discontinued Operations
ASSETS
Cash, cash equivalents and restricted cash		255
Receivables, net		852
Inventories, net		470
Prepayments and other current assets		39
Current assets of discontinued operations		1,616
Property, plant and equipment, net		939
Investments and long-term receivables		77
Goodwill		419
Other intangible assets, net		432
Other non-current assets		179
Total non-current assets of discontinued operations		2,046
LIABILITIES
Notes payable and other short-term debt		2
Accounts payable		538
Other current liabilities		406
Total current liabilities of discontinued operations		946
Long-term debt		26
Retirement-related liabilities		94
Other non-current liabilities		175
Total non-current liabilities of discontinued operations		$ 295

DISCONTINUED OPERATIONS - Finan

DISCONTINUED OPERATIONS - Financial Results from Discontinued Operations (Details) - Phinia - Discontinued Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 0	$ 857	$ 1,723	$ 2,496
Cost of sales	0	658	1,362	1,958
Gross profit	0	199	361	538
Selling, general and administrative expenses	0	72	173	228
Restructuring expense	0	3	7	8
Other operating expense, net	52	0	117	33
Operating (loss) income	(52)	124	64	269
Equity in affiliates’ earnings, net of tax	0	(5)	(5)	(8)
Interest expense, net	0	0	0	1
Other postretirement expense (income)	0	(7)	0	(24)
Earnings from discontinued operations before income taxes	(52)	136	69	300
Provision for income taxes	(15)	36	81	75
Net (loss) earnings from discontinued operations attributable to PHINIA	$ (37)	$ 100	$ (12)	$ 225