BorgWarner (BWA) 10-Q 31 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 25, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		218,699,878
Entity Central Index Key	0000908255
Amendment Flag	false
Document Fiscal Year Focus	2024
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, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 2,000	$ 1,534
Receivables, net	3,215	3,109
Inventories, net	1,366	1,313
Prepayments and other current assets	275	261
Total current assets	6,856	6,217
Property, plant and equipment, net	3,814	3,783
Investments and long-term receivables	350	364
Goodwill	3,027	3,013
Other intangible assets, net	514	564
Other non-current assets	576	512
Total assets	15,137	14,453
LIABILITIES AND EQUITY
Short-term debt	398	73
Accounts payable	2,176	2,546
Other current liabilities	1,144	1,148
Total current liabilities	3,718	3,767
Long-term debt	4,195	3,707
Retirement-related liabilities	146	146
Other non-current liabilities	726	767
Total liabilities	8,785	8,387
Commitments and contingencies
Common stock	3	3
Capital in excess of par value	2,657	2,689
Retained earnings	6,840	6,152
Accumulated other comprehensive loss	(808)	(828)
Common stock held in treasury, at cost	(2,536)	(2,188)
Total BorgWarner Inc. stockholders’ equity	6,156	5,828
Noncontrolling interest	196	238
Total equity	6,352	6,066
Total liabilities and equity	$ 15,137	$ 14,453

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales	$ 3,449	$ 3,622	$ 10,647	$ 10,676
Cost of sales	2,813	2,970	8,682	8,767
Gross profit	636	652	1,965	1,909
Selling, general and administrative expenses	340	330	1,010	963
Restructuring expense	21	56	65	68
Other operating expense (income), net	5	(6)	28	(1)
Operating income	270	272	862	879
Equity in affiliates’ earnings, net of tax	(6)	(10)	(23)	(23)
Unrealized and realized (gain) loss on equity and debt securities	(2)	60	0	129
Interest expense (income), net	4	(19)	17	3
Other postretirement expense	4	3	10	8
Earnings from continuing operations before income taxes and noncontrolling interest	270	238	858	762
Provision for income taxes	13	133	44	230
Net earnings from continuing operations	257	105	814	532
Net loss from discontinued operations	(8)	(37)	(27)	(12)
Net earnings	249	68	787	520
Net earnings from continuing operations attributable to noncontrolling interest	15	18	44	49
Net earnings attributable to BorgWarner Inc.	234	50	743	471
Amounts attributable to BorgWarner Inc.:
Net earnings from continuing operations	$ 242	$ 87	$ 770	$ 483
Basic earnings per share:
Earnings per share from continuing operations — basic (in dollar per share)	$ 1.08	$ 0.37	$ 3.41	$ 2.07
Loss per share from discontinued operations — basic (in dollar per share)	(0.04)	(0.16)	(0.12)	(0.05)
Earnings per share attributable to BorgWarner Inc. — basic (in dollar per share)	1.04	0.21	3.29	2.02
Diluted earnings per share:
Earnings per share from continuing operations — diluted (in dollar per share)	1.08	0.37	3.40	2.06
Loss per share from discontinued operations — diluted (in dollar per share)	(0.04)	(0.16)	(0.12)	(0.05)
Earnings per share attributable to BorgWarner Inc. — diluted (in dollar per share)	$ 1.04	$ 0.21	$ 3.28	$ 2.01
Weighted average shares outstanding:
Basic (in shares)	223.1	233.4	225.7	233.2
Diluted (in shares)	224.5	235.3	226.8	234.6
Discontinued operations | Phinia
Amounts attributable to BorgWarner Inc.:
Net loss from discontinued operations	$ (8)	$ (37)	$ (27)	$ (12)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings attributable to BorgWarner Inc.		$ 234	$ 50	$ 743	$ 471
Other comprehensive income (loss)
Foreign currency translation adjustments		159	(16)	62	(72)
Hedge instruments	[1]	(28)	(12)	(46)	26
Postretirement defined benefit plans	[1]	(1)	11	4	7
Total other comprehensive income (loss) attributable to BorgWarner Inc.		130	(17)	20	(39)
Comprehensive income attributable to BorgWarner Inc.	[1]	364	33	763	432
Net earnings from continuing operations attributable to noncontrolling interest		15	18	44	49
Other comprehensive income (loss) attributable to noncontrolling interest	[1]	11	(4)	3	(18)
Comprehensive income		$ 390	$ 47	$ 810	$ 463
[1] Net of income taxes.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES OF CONTINUING OPERATIONS
Net cash provided by operating activities of continuing operations (see Note 23)	$ 700	$ 510
INVESTING ACTIVITIES OF CONTINUING OPERATIONS
Capital expenditures, including tooling outlays	(510)	(624)
Payments for businesses acquired, net of cash acquired	0	(31)
Proceeds from settlement of net investment hedges, net	46	25
(Payments for) proceeds from investments in equity and debt securities, net	(7)	63
Proceeds from the sale of business, net	8	0
Proceeds from asset disposals and other, net	3	29
Net cash used in investing activities from continuing operations	(460)	(538)
FINANCING ACTIVITIES OF CONTINUING OPERATIONS
Net increase in notes payable	0	3
Additions to debt	1,000	4
Payments for debt issuance costs	(9)	(3)
Repayments of debt, including current portion	(175)	(444)
Payments for purchase of treasury stock	(401)	0
Payments for stock-based compensation items	(23)	(25)
Payments for businesses acquired, net of cash acquired	(4)	0
Payments for contingent consideration	(1)	(23)
Purchase of noncontrolling interest	0	(15)
Net distribution from PHINIA	0	401
Dividends paid to BorgWarner stockholders	(74)	(105)
Dividends paid to noncontrolling stockholders	(63)	(71)
Net cash provided by (used in) financing activities from continuing operations	250	(278)
CASH FLOWS FROM DISCONTINUED OPERATIONS
Operating activities of discontinued operations	(27)	(66)
Investing activities of discontinued operations	0	(86)
Financing activities of discontinued operations	0	84
Net cash used in discontinued operations	(27)	(68)
Effect of exchange rate changes on cash	3	(15)
Net increase (decrease) in cash and cash equivalents	466	(389)
Cash and cash equivalents at beginning of year	1,534	1,338
Cash and cash equivalents at end of period	2,000	949
Less: Cash and cash equivalents of discontinued operations at end of period	0	0
Cash and cash equivalents of continuing operations at end of period	$ 2,000	$ 949

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
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. Additionally, in the nine months ended September 30, 2024, the Company recognized a $19 million increase in Net earnings attributable to BorgWarner Inc. in the Condensed Consolidated Statement of Operations for the correction of misstatements related to certain accruals, of which $12 million related to 2023 (the remainder relates to periods prior to 2023). The Company has evaluated the effect of these out-of-period adjustments for the current reporting period, as well as on the previous interim and annual periods in which they should have been recognized, and concluded that these adjustments are not material to any of the periods affected. Operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The balance sheet as of December 31, 2023 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, 2023. 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. Effective July 1, 2024, the Company implemented a new business unit and management structure designed to further enhance the execution of the Company’s Charging Forward strategy. The Company now reports its results in the following four reportable segments: Turbos & Thermal Technologies, Drivetrain & Morse Systems, PowerDrive Systems and Battery & Charging Systems. This new structure had no impact on the Company’s consolidated financial position, results of operations or cash flows. The reportable segment disclosures have been updated accordingly, which included recasting prior period information for the new reporting structure. Refer to Note 11, “Goodwill And Other Intangibles” and Note 22, “Reportable Segments,” to the Condensed Consolidated Financial Statements for more information. 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, stockholders 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 of PHINIA for periods prior to the Spin-Off are presented as discontinued operations in these Condensed Consolidated Financial Statements. 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. The Company completed the performance under the transition services agreement during the three months ended September 30, 2024.

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING PRONOUNCEMENTS	NEW ACCOUNTING PRONOUNCEMENTS In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” It requires incremental disclosures related to an entity’s reportable segments, including (i) significant segment expense categories and amounts for each reportable segment that are provided to the chief operating decision maker (“CODM”), (ii) an aggregate amount and description of other segment items included in each reported measure, (iii) all annual disclosures about a reportable segment’s profit or loss and assets required by Topic 280 to be disclosed in interim periods, (iv) the title and position of the individual or the name of the group identified as the CODM and (v) an explanation of how the CODM uses the reported measures of segment profit or loss to assess performance and allocate resources to the segment. The standard improves transparency by providing disaggregated expense information about an entity’s reportable segments. The standard does not change the definition of a segment, the method for determining segments or the criteria for aggregating operating segments into reportable segments. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods beginning after December 15, 2024. Upon adoption, the Company will provide additional disclosures as required. The Company does not expect this guidance to have a material impact on the identification of its reportable segments or its Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” It requires entities to disaggregate information related to the effective tax rate reconciliation and income taxes paid. The standard improves transparency by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. This guidance is effective for annual reporting periods beginning after December 15, 2024. The Company does not expect this guidance to have a material impact on its Consolidated Financial Statements.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 Company’s 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 December 1, 2023, the Company completed its acquisition of the electric hybrid systems business segment of Eldor Corporation (“Eldor”), which is headquartered in Italy. The Company expects the acquisition to complement its existing PowerDrive Systems product portfolio by enhancing the Company’s engineering capabilities in power electronics. The Company pa id €72 million ($78 million) at closing and is obligated to remit up to €175 million ($191 million) of earn-out payments that could be paid over the two years following closing. The earn-out payments are contingent upon booked business for future periods from new customer awards . The Company’s estimate at closing indicated that the minimum threshold for the earn-out target would not be achieved; thus, no amount of the potential earn-out payments was included in the purchase consideration. As of September 30, 2024, the Company’s estimate has not changed; thus, no amount is included in the Company’s Condensed Consolidated Balance Sheet. The purchase price was allocated on a preliminary basis as of December 1, 2023. Assets acquired and liabilities assumed were recorded at estimated fair values based on management’s estimates, available information, and supportable assu mptions that management considered reasonable. Certain estimated values for the acquisition, including goodwill, tangible and intangible assets and deferred taxes, are not yet finalized, and the preliminary purchase price allocations are subject to change as the Compa ny completes its analysis of the fair value at the date of acquisition. The final valuation of assets acquired and liabilities assumed may be materially different than the estimated values shown below. T he estimated fair values of assets acquired and liabilities assumed as of December 1, 2023 were assets of $86 million, including goodwill and intangibles of $25 million, and liabilities of $8 million. Any excess of the purchase price over the estimated fair value of net assets was recognized as goodwill. Goodwill of $14 million was recorded within the Company’s PowerDrive Systems segment. Goodwill consists of the Company’s expected future eco nomic benefits that will be realized from expanding the Company’s electric vehicle portfolio as electric vehicle production continues to increas e. Goodwill is not deductible for tax purposes in Italy. The following table summarizes the other intangible assets acquired: (in millions) Estimated Life Estimated Fair Value Developed technology 6 years $ 9 Customer relationships 10 years 2 Total other intangible assets $ 11 Identifiable intangible assets were valued using the market approach. 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 year ended December 31, 2023. The Company paid ¥25 million ($4 million) during the nine months ended September 30, 2024. In accordance with ASC Topic 230, since the payments made in 2024 are not soon after the acquisition close date, they are recorded as a financing activity in the Company’s Condensed Consolidated Statement of Cash Flows. Of the remaining ¥26 million ($4 million) of base purchase price, ¥6 million ($1 million) is payable by December 31, 2024 and is recorded in Other current liabilities in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2024. The remaining ¥20 million ($3 million) of base purchase price is payable before October 31, 2025 and is recorded in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2024. 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. In the nine months ended September 30, 2024, the Company paid ¥10 million ($1 million) of earnout related to the 2023 measurement period. The Company’s current estimate of the earn-out payments related to the 2024 measurement period is approximately ¥10 million ($2 million), which is recorded in Other current liabilities in the Company’s Condensed Consolidated Balance Sheet as of September 30, 2024. The Company finalized its valuation of the assets and liabilities of the SSE acquisition during the third quarter of 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. 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. Goodwill is not deductible for tax purposes in China. 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 total consideration was ₣37 million ($39 million), including ₣27 million ($29 million) of base purchase price and ₣10 million ($10 million) of estimated earn-out payments. The Company paid ₣27 million ($29 million) of base purchase price at closing. The Company’s obligation to remit up to ₣10 million ($10 million) of earn-out payments, over the three years following closing, is contingent upon achievement of estimated future sales targets associated with newly awarded business and future turnover rate targets. During the three months ended September 30, 2024, the Company revised its estimate of expected earn-out payments due to reductions in expected awarded business programs and increased headcount turnover. In accordance with ASC Topic 805, the ₣5 million ($6 million) change in estimate was included in Other operating expense, net in the Company’s Condensed Consolidated Statements of Operations. As of September 30, 2024, the Company’s estimate of the earn-out payments was approximately ₣5 million ($6 million), which is recorded in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheet. 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 estimate at closing indicated that the minimum thresholds for these earn-out targets would not be achieved; thus, no amount of the potential earn-out payments was included in the purchase consideration. As of September 30, 2024, the Company’s estimate has not changed; thus, no amount is included 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 are being accounted for as post-combination expense. 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 was recorded in Other operating expense, net during the three months ended March 31, 2023. 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 second quarter of 2023, the Company paid approximately ¥0.2 billion ($24 million) to settle the remaining earn-out liability and related adjustments.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2024
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 $18 million at September 30, 2024 and December 31, 2023, 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 and Other non-current liabilities in the Condensed Consolidated Balance Sheets and were $15 million and $18 million at September 30, 2024 and $18 million and $10 million at December 31, 2023, respectively. 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, 2024 and December 31, 2023, the Company recorded customer incentive payments of $25 million and $27 million, respectively, in Prepayments and other current assets, and $32 million and $58 million, respectively, in Other non-current assets in the Condensed Consolidated Balance Sheets. The Company’s products can be disaggregated by two types: eProducts and Foundational products. eProducts include all products utilized on or for electric vehicles (“EVs”) plus those same products and components that are included in hybrid powertrains whose underlying technologies are adaptable or applicable to those used in or for EVs. Foundational products include all products utilized on internal combustion engines plus those same products and components that are also included in hybrid powertrains. The following table represents a disaggregation of revenue from contracts with customers by Foundational products and eProducts for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Foundational products $ 2,810 $ 3,050 $ 8,926 $ 9,182 eProducts 639 572 1,721 1,494 Total $ 3,449 $ 3,622 $ 10,647 $ 10,676 The following tables represent a disaggregation of revenue from contracts with customers by reportable segment and region. The balances for prior periods have been recast for the reportable segment realignment for certain businesses that was completed in the third quarter of 2024. Refer to Note 22, “Reportable Segments,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 335 $ 478 $ 87 $ 32 $ 932 Europe 668 295 143 152 1,258 Asia 329 589 275 3 1,196 Other 53 — — 10 63 Total $ 1,385 $ 1,362 $ 505 $ 197 $ 3,449 Three Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 385 $ 523 $ 118 $ 39 $ 1,065 Europe 732 318 95 98 1,243 Asia 306 606 343 7 1,262 Other 50 — — 2 52 Total $ 1,473 $ 1,447 $ 556 $ 146 $ 3,622 Nine Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 1,111 $ 1,517 $ 231 $ 134 $ 2,993 Europe 2,261 984 390 396 4,031 Asia 945 1,717 769 13 3,444 Other 155 — — 24 179 Total $ 4,472 $ 4,218 $ 1,390 $ 567 $ 10,647 Nine Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 1,169 $ 1,543 $ 388 $ 100 $ 3,200 Europe 2,310 975 227 272 3,784 Asia 930 1,624 953 18 3,525 Other 158 — 4 5 167 Total $ 4,567 $ 4,142 $ 1,572 $ 395 $ 10,676

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company undertakes restructuring activities, 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 following tables display the Company’s restructuring expense by reportable segment: Three Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 7 $ 1 $ — $ — $ — $ 8 Other 8 — 5 — — 13 Total restructuring expense $ 15 $ 1 $ 5 $ — $ — $ 21 Three Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 53 $ 1 $ — $ — $ — $ 54 Other 1 1 — — — 2 Total restructuring expense $ 54 $ 2 $ — $ — $ — $ 56 Nine Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 16 $ 10 $ 10 $ 1 $ 1 $ 38 Other 14 1 12 — — 27 Total restructuring expense $ 30 $ 11 $ 22 $ 1 $ 1 $ 65 Nine Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 60 $ 3 $ — $ — $ — $ 63 Other 4 1 — — — 5 Total restructuring expense $ 64 $ 4 $ — $ — $ — $ 68 The following tables display rollforwards 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, 2024 $ 68 $ 7 $ 75 Restructuring expense, net 38 27 65 Cash payments (54) (30) (84) Foreign currency translation adjustment and other — 2 2 Balance at September 30, 2024 52 6 58 Less: Non-current restructuring liability 8 — 8 Current restructuring liability at September 30, 2024 $ 44 $ 6 $ 50 (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 2023 Structural Costs Plan In 2023, the Company announced a $130 million to $150 million restructuring plan to address structural costs primarily in its Foundational products businesses. During the three and nine months ended September 30, 2024, the Company recorded $18 million and $52 million, respectively, of restructuring charges related to this plan. 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. Cumulatively, the Company has incurred $131 million of restructuring charges related to this plan. 2024 Structural Costs Plan In June 2024, the Company approved an approximately $75 million restructuring plan to address the cost structure in its PowerDrive Systems segment due to increased market volatility, which could include realignment of the segment’s manufacturing footprint. During the three and nine months ended September 30, 2024, the Company recorded $3 million and $13 million, respectively, of restructuring charges related to this plan. The following provides details of restructuring expense incurred by the Company’s reportable segments during the three and nine months ended September 30, 2024 and 2023, related to the plans discussed above: Turbos & Thermal Technologies 2023 Structural Costs Plan • During the three and nine months ended September 30, 2024, the segment recorded $15 million and $30 million, respectively, of restructuring costs under this plan. These costs primarily related to $16 million of employee termination benefits and $14 million of professional fees and equipment relocation costs for facilities in Europe, China and the U.S. • During the three and nine months ended September 30, 2023, the segment recorded $54 million and $64 million, respectively, of restructuring costs under this plan. These costs primarily related to $60 million for a voluntary termination program during the nine months ended September 30, 2023. Drivetrain & Morse Systems 2023 Structural Costs Plan • During the three and nine months ended September 30, 2024, the segment recorded $1 million and $11 million, respectively, of restructuring costs under this plan. These costs primarily related to $10 million of employee termination benefits for a facility in Europe. • During the three and nine months ended September 30, 2023, the segment recorded $2 million and $4 million, respectively, of restructuring costs under this plan. These costs primarily related to employee termination benefits and equipment moves. PowerDrive Systems 2023 Structural Costs Plan • During the three and nine months ended September 30, 2024, the segment recorded $2 million and $9 million, respectively, of restructuring costs under this plan. These costs primarily related to $8 million of equipment relocation costs. 2024 Structural Costs Plan • During the three and nine months ended September 30, 2024, the segment recorded $3 million and $13 million, respectively, of restructuring costs under this plan. These costs primarily related to $9 million of employee termination benefits and $4 million of professional fees. The Company estimates restructuring expense 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
	Sep. 30, 2024
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 on 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 ) 2024 2023 2024 2023 Gross R&D expenditures $ 218 $ 215 $ 656 $ 625 Customer reimbursements (28) (23) (90) (84) Net R&D expenditures $ 190 $ 192 $ 566 $ 541

OTHER OPERATING EXPENSE (INCOME

OTHER OPERATING EXPENSE (INCOME), NET	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSE (INCOME), NET	OTHER OPERATING EXPENSE (INCOME), NET Items included in Other operating expense (income), net consist of: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2024 2023 2024 2023 Commercial contract settlement $ — $ — $ 15 $ — Adjustments associated with Spin-Off related balances 3 — 14 — Collective bargaining agreement ratification bonus 4 — 4 — Loss (gain) on sale of businesses 6 — 3 (5) Merger and acquisition expense, net (5) 2 — 18 Asset impairments and lease modifications — 2 — 11 Gain on sale of assets — (7) — (13) Other income, net (3) (3) (8) (12) Other operating expense (income), net $ 5 $ (6) $ 28 $ (1) Commercial contract settlement: During the nine months ended September 30, 2024, the Company recorded a loss of approximately $15 million related to the settlement of a commercial contract assumed in its acquisition of the electric hybrid systems business segment of Eldor. Adjustments associated with Spin-Off related balances: During the three and nine months ended September 30, 2024, the Company recorded expense of $3 million and $14 million, respectively, primarily for adjustments to net amounts owed to the Company related to the tax matters agreement between the Company and PHINIA. Collective bargaining agreement ratification bonus: During the three and nine months ended September 30, 2024, the Company recorded $4 million of expense for bonuses related to the ratification of a collective bargaining agreement at a facility in New York. Loss (gain) on sale of businesses: During the three and nine months ended September 30, 2024, the Company recorded a net loss on sales of businesses of $6 million and $3 million, respectively. During the three months ended September 30, 2024, the Company recorded a charge of $6 million related to the estimated loss on an immaterial business that met held for sale accounting criteria. Merger and acquisition expense, net: During the three months ended September 30, 2024, the Company recorded a gain related to merger and acquisition activity of $5 million, primarily due to a $6 million revision of its expected earn-out related to the Drivetek acquisition, offset by expense primarily related to professional fees associated with specific acquisition initiatives. During the three and nine months ended September 30, 2023, the Company recorded merger and acquisition expense of $2 million and $18 million, respectively, primarily related to professional fees associated with specific acquisition initiatives. Asset impairments and lease modifications: During the three and nine months ended September 30, 2023, the Company recorded charges of $2 million and $11 million, primarily related to a service and lease agreement termination and impairment of certain property, plant and equipment at a facility in North America. 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. 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
	Sep. 30, 2024
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, 2024 and 2023 was 5% and 56%, respectively. During the three months ended September 30, 2024, the Company recorded a discrete tax benefit of approximately $18 million related to a reduction in certain unrecognized tax benefits and accrued interest for matters where the statute of limitations lapsed, a discrete tax expense of $4 million related to net changes to valuation allowances, a discrete tax benefit of approximately $36 million related to post Spin-Off restructuring and a discrete tax benefit of approximately $1 million related to various changes in filing positions for prior years. During the three months ended September 30, 2023, the Company recorded a discrete tax benefit of approximately $31 million related to various changes in filing positions for prior years, a discrete tax benefit of approximately $12 million in relation to the Spin-Off and a discrete tax expense of approximately $87 million for changes in judgment 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. The Company’s effective tax rate for the nine months ended September 30, 2024 and 2023 was 5% and 30%, respectively. During the nine months ended September 30, 2024, the Company recorded a discrete tax benefit of approximately $107 million related to reductions in certain unrecognized tax benefits and accrued interest for matters where the statute of limitations lapsed, a discrete tax benefit of approximately $36 million related to post Spin-Off restructuring and a discrete tax benefit of approximately $4 million related to various changes in filing positions for prior years. During the nine months ended September 30, 2023, the Company recorded a discrete tax benefit of approximately $41 million in relation to the Spin-Off, a discrete tax benefit of approximately $39 million related to various changes in filing positions for prior years, a discrete tax benefit of approximately $14 million related to the resolution of tax audits, a discrete tax expense of approximately $9 million for the impact of enacted tax law changes and a discrete tax expense of approximately $85 million for changes in judgment 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.

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET A summary of Inventories, net is presented below: September 30, December 31, (in millions) 2024 2023 Raw material and supplies $ 1,026 $ 991 Work in progress 159 160 Finished goods 213 194 FIFO inventories 1,398 1,345 LIFO reserve (32) (32) Inventories, net $ 1,366 $ 1,313

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Additional detail related to assets is presented below: September 30, December 31, ( in millions ) 2024 2023 Prepayments and other current assets: Prepaid tooling $ 113 $ 89 Prepaid taxes 42 38 Customer incentive payments (Note 4) 25 27 Contract assets (Note 4) 16 18 Derivative instruments 10 32 Other 69 57 Total prepayments and other current assets $ 275 $ 261 Investments and long-term receivables: Investment in equity affiliates $ 242 $ 237 Investment in equity securities 70 71 Long-term receivables 38 56 Total investments and long-term receivables $ 350 $ 364 Other non-current assets: Deferred income taxes $ 333 $ 257 Operating leases 142 143 Customer incentive payments (Note 4) 32 58 Derivative instruments 24 15 Other 45 39 Total other non-current assets $ 576 $ 512

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	9 Months Ended
	Sep. 30, 2024
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. During the first quarter of 2024, the Company reduced the outlook of its PowerDrive Systems business in response to volatility in actual and expected customer production schedules. This was viewed as a triggering event, and as a result the Company performed an interim quantitative analysis of the fair value of the PowerDrive Systems reporting unit. The estimated fair value was determined using a combined income and market approach, consistent with the Company’s analysis performed during the fourth quarter of 2023. The most critical assumptions used in the calculation of the fair value of the PowerDrive Systems reporting unit were projected revenue growth rates, projected operating income margin, and discount rates. Additionally, at the time of that assessment, the carrying value of the PowerDrive Systems reporting unit was higher than the carrying value used in the most recent quantitative analysis in 2023 due to capital investments made in the business. Based on this interim impairment test, the PowerDrive Systems reporting unit had an estimated fair value that exceeded its carrying value, including goodwill, by approximately 5%, resulting in no impairment. The fair value of the PowerDrive Systems reporting unit’s goodwill is sensitive to differences between estimated and actual cash flows, including changes in the projected revenue, projected operating margin and discount rate used to evaluate the fair value of these assets and market multiples assumptions applied by the Company. Future changes in the judgments, assumptions and estimates from those used in 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. As further described in Note 22, “Reportable Segments,” as a result of the previously disclosed reportable segment realignment, the Company disaggregated certain entities within one of the Company’s historical goodwill reporting units across two reporting units: Drivetrain & Morse Systems and Battery & Charging Systems. As a result of this change, the Company allocated goodwill to these two reporting units on a relative fair value basis. The Company estimated the fair values of the businesses to be split from the historical reporting unit based upon the present value of their anticipated future cash flows. The Company’s determination of fair value involved judgment and the use of estimates and assumptions. In conjunction with the goodwill allocation, the Company performed a quantitative impairment assessment of the historical reporting units’ goodwill immediately before and after the segment realignment. The quantitative analyses did not result in any impairment charges as the fair value of each reporting unit exceeded its respective carrying value. The disclosures below have been updated accordingly, which included recasting prior period information for the new reporting structure. Other than as described above, the Company noted no events or circumstances related to any of the Company’s reporting units in the three and nine months ended September 30, 2024 that required additional assessment or testing. A summary of the changes in the carrying amount of goodwill are as follows: (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total Gross goodwill balance, December 31, 2023 $ 1,257 $ 1,126 $ 481 $ 651 $ 3,515 Accumulated impairment losses, December 31, 2023 (502) — — — (502) Net goodwill balance, December 31, 2023 $ 755 $ 1,126 $ 481 $ 651 $ 3,013 Goodwill during the period: Other, primarily translation adjustment 4 1 3 6 14 Ending balance, September 30, 2024 $ 759 $ 1,127 $ 484 $ 657 $ 3,027 The Company’s other intangible assets, primarily from acquisitions, consist of the following: September 30, 2024 December 31, 2023 (in millions) Estimated useful lives (years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patented and unpatented technology 5 - 15 $ 364 $ 169 $ 195 $ 364 $ 145 $ 219 Customer relationships 6 - 15 643 332 311 641 305 336 Miscellaneous 2 - 5 10 8 2 9 6 3 Total amortized intangible assets 1,017 509 508 1,014 456 558 Unamortized trade names 6 — 6 6 — 6 Total other intangible assets $ 1,023 $ 509 $ 514 $ 1,020 $ 456 $ 564

PRODUCT WARRANTY

PRODUCT WARRANTY	9 Months Ended
	Sep. 30, 2024
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) 2024 2023 Beginning balance, January 1 $ 196 $ 185 Provisions for current period sales 60 68 Adjustments of prior estimates 1 — Payments (47) (53) Other, primarily translation adjustment 2 (6) Ending balance, September 30 $ 212 $ 194 The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows: September 30, December 31, (in millions) 2024 2023 Other current liabilities $ 84 $ 91 Other non-current liabilities 128 105 Total product warranty liability $ 212 $ 196

DEBT

DEBT	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT As of September 30, 2024 and December 31, 2023, the Company had debt outstanding as follows: September 30, December 31, ( in millions ) 2024 2023 Short-term borrowings $ 60 $ 70 Long-term debt 3.375% Senior notes due 03/15/25 ($334 million par value) 334 384 5.000% Senior notes due 10/01/25 ($343 million par value) 1 354 477 2.650% Senior notes due 07/01/27 ($1,100 million par value) 1,095 1,093 7.125% Senior notes due 02/15/29 ($121 million par value) 120 120 4.950% Senior notes due 08/15/29 ($500 million par value) 495 — 1.000% Senior notes due 05/19/31 (€1,000 million par value) 1,099 1,088 5.400% Senior notes due 08/15/34 ($500 million par value) 493 — 4.375% Senior notes due 03/15/45 ($500 million par value) 495 495 Term loan facilities, finance leases and other 48 53 Total long-term debt 4,533 3,710 Less: current portion 338 3 Long-term debt, net of current portion $ 4,195 $ 3,707 _____________________________ 1 These notes include the fair value step up of $11 million and $24 million as of September 30, 2024 and December 31, 2023, respectively, related to the Delphi Technologies acquisition in 2020. 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. On August 16, 2024, the Company issued $500 million of 4.950% senior notes due August 2029 and $500 million of 5.400% senior notes due August 2034, primarily to retire the Company’s outstanding senior notes due in 2025. Interest is payable semi-annually in arrears on February 15 and August 15 of each year. These senior notes are not guaranteed by any of the Company’s subsidiaries. On August 7, 2024, the Company announced that it had commenced tender offers to purchase for cash certain of the Company’s outstanding debt, specifically the 3.375% senior notes due in March 2025 (the “March 2025 Senior Notes”) and the 5.000% senior notes due in October 2025 (the “October 2025 Senior Notes”). Pursuant to the Company’s tender offers, during the three months ended September 30, 2024, the Company repaid $50 million of the March 2025 Senior Notes and $110 million of the October 2025 Senior Notes, this resulted in a gain on debt extinguishment of $3 million, which is reflected in Interest expense, net in the Condensed Consolidated Statement of Operations. On October 17, 2024, the Company announced that the remaining outstanding balance of the October 2025 Senior Notes will be redeemed in full on November 1, 2024, in accordance with the terms of the agreement. The remaining outstanding balance of the March 2025 Senior Notes will be purchased or settled by maturity. 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 March 2025 Senior Notes and October 2025 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 expense, net, in the Condensed Consolidated Statement of Operations. The Company may utilize uncommitted lines of credit for short-term working capital requirements. As of September 30, 2024 and December 31, 2023, the Company had $60 million and $70 million, respectively, in borrowings under these facilities, which are classified in 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) 2024 2023 2024 2023 Interest expense $ 24 $ 21 $ 56 $ 57 Gain on debt extinguishment (3) (28) (3) (28) Interest income (17) (12) (36) (26) Interest expense (income), net $ 4 $ (19) $ 17 $ 3 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 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, 2024. At September 30, 2024 and December 31, 2023, 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, 2024 and December 31, 2023. 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, 2024 and December 31, 2023, the estimated fair values of the Company’s senior unsecured notes totaled $4,263 million and $3,304 million, respectively. The estimated fair values were $222 million lower than their carrying value at September 30, 2024 and $353 million lower than their carrying value at December 31, 2023. 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 $30 million and $37 million at September 30, 2024 and December 31, 2023, respectively. The letters of credit typically act as guarantees of payment to certain third parties in accordance with specified terms and conditions.

OTHER LIABILITIES

OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES Additional detail related to liabilities is presented in the table below: September 30, December 31, ( in millions ) 2024 2023 Other current liabilities: Payroll and employee related $ 327 $ 329 Customer related 175 124 Indirect taxes 116 121 Product warranties (Note 12) 84 91 Income taxes payable 49 103 Employee termination benefits (Note 5) 44 61 Operating leases 36 37 Interest 28 26 Accrued freight 25 26 Dividends payable to noncontrolling stockholders 25 — Supplier related 23 16 Insurance 17 16 Contract liabilities (Note 4) 15 18 Other non-income taxes 14 12 Retirement related 11 11 Deferred engineering 15 13 Other 140 144 Total other current liabilities $ 1,144 $ 1,148 Other non-current liabilities: Deferred income taxes $ 157 $ 160 Product warranties (Note 12) 128 105 Other income tax liabilities 121 226 Operating leases 110 112 Deferred income 95 83 Employee termination benefits (Note 5) 8 7 Earn-out liability (Note 3) 8 13 Other 99 61 Total other non-current liabilities $ 726 $ 767

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023: Basis of fair value measurements (in millions) Balance at September 30, 2024 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 equity securities $ 26 $ — $ — $ — — $ 26 Foreign currency contracts $ 11 $ — $ 11 $ — A $ — Net investment hedge contracts $ 23 $ — $ 23 $ — A $ — Liabilities: Non-current earn-out liability $ 8 $ — $ — $ 8 C $ — Net investment hedge contracts $ 6 $ — $ 6 $ — A $ — Foreign currency contracts $ 27 $ — $ 27 $ — 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 $ 5 $ — $ — $ 5 C $ — Investment in equity securities $ 26 $ — $ — $ — — $ 26 Foreign currency contracts $ 33 $ — $ 33 $ — A $ — Net investment hedge contracts $ 14 $ — $ 14 $ — A $ — Liabilities: Current earn-out liability $ 2 $ — $ — $ 2 C $ — Non-current earn-out liability $ 13 $ — $ — $ 13 C $ — Foreign currency contracts $ 3 $ — $ 3 $ — A $ — Net investment hedge contracts $ 2 $ — $ 2 $ — A $ — _____________________________ 1 Certain assets that are measured at fair value using the net asset value (“NAV”) per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. These amounts represent investments in commingled and managed funds that have underlying assets in fixed income securities, equity securities, and other assets and the fair values have been estimated using the net asset value of the Company's ownership interest in partners' capital. The Company’s redemption of its investments with the funds is governed by the partnership agreements and subject to approval from the general partners. With the exception of annual distributions in connection with the Company’s deemed tax liability, distributions from each fund will be received as the underlying investments of the funds are liquidated, the timing of which is unknown. The following table provides a reconciliation of the Company’s Level 3 earn-out assets and liabilities: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in millions) Current earn-out receivables Current earn-out liabilities Non-current earn-out liabilities Balance at January 1, 2023 $ 9 $ 21 $ 10 Contingent earn-out recognized upon acquisition or disposition 5 5 3 Change in fair value of contingent consideration (9) (24) — Balance at December 31, 2023 $ 5 $ 2 $ 13 Change in fair value of contingent consideration 3 (1) (5) Earn-out settlements (8) (1) — Balance at September 30, 2024 $ — $ — $ 8 Refer to Note 3, “Acquisitions,” to the Condensed Consolidated Financial Statements for more information regarding earn-outs.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023, the Company had no derivative contracts that contained credit-risk-related contingent features. Cash Flow Hedges 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, 2024 and December 31, 2023, 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. At September 30, 2024 and December 31, 2023, 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. 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. 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. At September 30, 2024 and December 31, 2023, 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 80 83 Sep - 26 Chinese Renminbi U.S. Dollar 221 209 Sep - 26 Euro British Pound — 15 Aug - 24 Euro Hungarian Forint 9,291 8,233 Sep - 26 Euro Swiss Franc 39 24 Sep - 26 Euro Polish Zloty 620 573 Sep - 26 Euro U.S. Dollar 172 152 Sep - 26 Thai Baht U.S. Dollar 31 30 Sep - 25 U.S. Dollar Chinese Renminbi 666 582 Aug - 25 U.S. Dollar Korean Won 51,548 34,209 Nov - 25 U.S. Dollar Mexican Peso 4,621 3,280 Sep - 26 U.S. Dollar Thai Baht — 2,100 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, 2024 and December 31, 2023. Net Investment Hedges In addition, the Company is also exposed to the risk that adverse changes in foreign currency exchange rates could impact its net investment in non-U.S. subsidiaries. The Company selectively uses cross-currency swaps to hedge that foreign currency exposure. At September 30, 2024 and December 31, 2023, the following cross-currency swap contracts were outstanding: Cross-currency swaps (in millions) September 30, 2024 December 31, 2023 Ending duration U.S. Dollar to Euro: Fixed receiving notional $ 1,100 $ 1,100 Jul - 27 Fixed paying notional € 976 € 976 Jul - 27 U.S. Dollar to Euro: Fixed receiving notional $ — $ 500 Mar - 25 Fixed paying notional € — € 450 Mar - 25 Fixed receiving notional $ 500 $ — Mar - 29 Fixed paying notional € 470 € — Mar - 29 U.S. Dollar to Japanese yen: Fixed receiving notional $ 100 $ 100 Feb - 29 Fixed paying notional ¥ 12,724 ¥ 12,724 Feb - 29 In April 2024, the Company terminated its $500 million cross-currency swap contract originally maturing in March 2025, resulting in cash proceeds of $23 million, which is expected to remain in accumulated other comprehensive loss until the net investment is sold, completely liquidated or substantially liquidated. Concurrently, the Company executed a $500 million cross-currency swap contract maturing in March 2029. In addition, the Company has designated the €1,000 million 1.000% Senior Notes due May 19, 2031, as a net investment hedge of the foreign currency exposure of its investments in certain Euro-denominated subsidiaries. Refer to Note 13, “Debt,” to the Condensed Consolidated Financial Statements for more information. The Company assesses the effectiveness for net investment hedges 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. Fair Value of Derivative Instruments in the Balance Sheet At September 30, 2024 and December 31, 2023, the following amounts were recorded in the Condensed Consolidated Balance Sheets as being payable to or receivable from counterparties for derivative instruments under ASC Topic 815, “Derivatives and Hedging”: (in millions) Assets Liabilities Derivatives designated as hedging instruments Under 815: Location September 30, 2024 December 31, 2023 Location September 30, 2024 December 31, 2023 Foreign currency Prepayments and other current assets $ 9 $ 30 Other current liabilities $ 20 $ 2 Foreign currency Other non-current assets $ 1 $ 1 Other non-current liabilities $ 6 $ — Net investment hedges Other non-current assets $ 23 $ 14 Other non-current liabilities $ 6 $ 2 Derivatives not designated as hedging instruments: Foreign currency Prepayments and other current assets $ 1 $ 2 Other current liabilities $ 1 $ 1 Effect of Derivatives on the Statements of Operations and Statements of 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, 2024 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, 2024 December 31, 2023 Net investment hedges: Cross-currency swaps $ 17 $ 12 $ — Foreign currency-denominated debt 90 100 — Total $ 107 $ 112 $ — Derivative instruments designated as hedging instruments as defined by ASC Topic 815 held during the period resulted in the gains and losses recorded in income shown in the table below. Certain prior period amounts have been revised and moved to these tables from the table disclosing gains recorded on derivatives not designated as hedging instruments. Three Months Ended September 30, 2024 (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 $ 3,449 $ 2,813 $ 340 $ 130 Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 23 Gain (loss) reclassified from AOCI to income $ 1 $ 4 $ — $ — Nine Months Ended September 30, 2024 (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 $ 10,647 $ 8,682 $ 1,010 $ 20 Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 19 Gain (loss) reclassified from AOCI to income $ 1 $ 26 $ — $ — 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 $ 1 Gain (loss) reclassified from AOCI to income $ — $ — $ 12 $ — 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 $ 49 Gain (loss) reclassified from AOCI to income $ — $ — $ 22 $ — 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 2024 2023 2024 2023 Foreign currency $ — $ — $ — $ — Cross-currency swaps $ (33) $ 40 $ 5 $ 11 Foreign currency-denominated debt $ (42) $ 34 $ (10) $ 13 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 2024 2023 2024 2023 Cross-currency swaps $ 6 $ 6 $ 17 $ 19 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 Hedges 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 gains (losses) recorded in income as shown in the table below. Certain prior period amounts have been moved from this table to the table disclosing gains and losses recorded on derivatives designated as hedging instruments (in millions) Three Months Ended September 30, Nine Months Ended September 30, Contract Type Location 2024 2023 2024 2023 Foreign Currency Selling, general and administrative expenses $ 1 $ 4 $ 1 $ (14)

RETIREMENT BENEFIT PLANS

RETIREMENT BENEFIT PLANS	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
RETIREMENT BENEFIT PLANS	RETIREMENT BENEFIT PLANS The Company has 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 2024 range from $20 million to $30 million, of which $16 million has been contributed through the nine months ended September 30, 2024. 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 expense recorded in the Condensed Consolidated Statements of Operations are as follows: Pension benefits Other postemployment benefits (in millions) 2024 2023 Three Months Ended September 30, US Non-US US Non-US 2024 2023 Service cost $ — $ 2 $ — $ 4 $ — $ — Interest cost 2 5 2 26 — — Expected return on plan assets (1) (3) (1) (25) — — Amortization of unrecognized prior service credit (1) — — — — (1) Amortization of unrecognized loss — 2 1 1 — — Net periodic benefit cost $ — $ 6 $ 2 $ 6 $ — $ (1) Pension benefits Other postemployment benefits (in millions) 2024 2023 Nine Months Ended September 30, US Non-US US Non-US 2024 2023 Service cost $ — $ 9 $ — $ 11 $ — $ — Interest cost 5 15 5 37 1 1 Expected return on plan assets (4) (11) (4) (33) — — Amortization of unrecognized prior service credit (1) — — — (1) (2) Amortization of unrecognized loss 2 4 2 2 — — Net periodic benefit cost $ 2 $ 17 $ 3 $ 17 $ — $ (1) The components of net periodic benefit expense other than the service cost component are included in Other postretirement expense in the Condensed Consolidated Statements of Operations.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY The changes of the Stockholders’ Equity items during the three and nine months ended September 30, 2024 and 2023, 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, 2024 $ 3 $ 2,645 $ (2,237) $ 6,620 $ (938) $ 192 $ 6,285 Dividends declared ($0.11 per share*) — — — (24) — (22) (46) Issuance for executive stock plan, net of tax — 8 — — — — 8 Issuance of restricted stock, net of tax — 4 5 — — — 9 Purchase of treasury stock — — (304) — — — (304) Net earnings — — — 234 — 15 249 Other comprehensive income — — — — 130 11 141 Spin-Off of PHINIA — — — 10 — — 10 Balance, September 30, 2024 $ 3 $ 2,657 $ (2,536) $ 6,840 $ (808) $ 196 $ 6,352 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) Issuance for executive stock plan, net of tax — 10 — — — — 10 Issuance of restricted stock, net of tax — 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, December 31, 2023 $ 3 $ 2,689 $ (2,188) $ 6,152 $ (828) $ 238 $ 6,066 Dividends declared ($0.22 per share*) — — — (74) — (89) (163) Issuance for executive stock plan, net of tax — (14) 21 — — — 7 Issuance of restricted stock, net of tax — (18) 35 — — — 17 Purchase of treasury stock — — (404) — — — (404) Net earnings — — — 743 — 44 787 Other comprehensive income — — — — 20 3 23 Spin-Off of PHINIA — — — 19 — — 19 Balance, September 30, 2024 $ 3 $ 2,657 $ (2,536) $ 6,840 $ (808) $ 196 $ 6,352 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) Issuance for executive stock plan, net of tax — 10 5 — — — 15 Issuance of restricted stock, net of tax — (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 __________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Certain prior period amounts have been updated to reflect the gains and losses on hedge instruments that were reclassified to the income statement. (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2024 $ (816) $ 10 $ (132) $ (938) Comprehensive (loss) income before reclassifications 143 (23) (1) 119 Income taxes associated with comprehensive (loss) income before reclassifications 16 — 3 19 Reclassification from accumulated other comprehensive (loss) income — (5) (1) (6) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (2) (2) Ending balance, September 30, 2024 $ (657) $ (18) $ (133) $ (808) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2023 $ (806) $ 42 $ (134) $ (898) Comprehensive (loss) income before reclassifications 17 1 5 23 Income taxes associated with comprehensive (loss) income before reclassifications (13) — 1 (12) Reclassification from accumulated other comprehensive (loss) income — (12) 1 (11) Income taxes associated with comprehensive income (loss) 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, 2023 $ (719) $ 28 $ (137) $ (828) Comprehensive income (loss) before reclassifications 67 (19) 7 55 Income taxes associated with comprehensive income (loss) before reclassifications (5) — 2 (3) Reclassification from accumulated other comprehensive (loss) income — (27) (4) (31) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (1) (1) Ending balance, September 30, 2024 $ (657) $ (18) $ (133) $ (808) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2022 $ (750) $ 4 $ (130) $ (876) Comprehensive income (loss) before reclassifications (51) 49 1 (1) Income taxes associated with comprehensive income (loss) before reclassifications (1) — — (1) Reclassification from accumulated other comprehensive (loss) income — (22) 2 (20) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915)

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
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 what the impact might be. The Company 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 as the ultimate resolutions of these matters are inherently unpredictable. On September 19, 2024, the Company commenced a lawsuit against PHINIA, seeking to recover from PHINIA approximately $120 million of value added tax (“VAT”) refunds that PHINIA has received or expects to receive from governmental agencies as well as damages and interest, which PHINIA has refused to pay to the Company. These refunds consist of VAT paid by the Company in periods prior to or directly related to the Spin-Off through which the Company established PHINIA as an independent company. Prior to the initiation of the lawsuit, PHINIA had paid certain VAT refund amounts to the Company. The Company asserts PHINIA’s obligation to pay the Company these VAT refunds and related amounts is plainly set forth in a binding tax matters agreement between the Company and PHINIA, which the parties agreed to prior to the Spin-Off. As of September 30, 2024, the Company had an asset related to these VAT refunds of approximately $120 million, which is included in Receivables, net in the Condensed Consolidated Balance Sheet. 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 local 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 such sites as of both September 30, 2024 and December 31, 2023. 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 $5 million and $6 million as of September 30, 2024 and December 31, 2023, respectively, included in Other current and Other non-current liabilities in the Condensed Consolidated Balance Sheets. As of September 30, 2024, this accrual, which relates to four 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 local 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 13 sites, for which there was no accrual as of September 30, 2024.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
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 1.0 million and 0.8 million performance share units excluded from the computation of the diluted earnings for the three months ended September 30, 2024 and 2023, respectively. There were 0.9 million and 0.7 million performance share units excluded from the computation of the diluted earnings for the nine months ended September 30, 2024 and 2023, 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) 2024 2023 2024 2023 Basic earnings per share: Net earnings from continuing operations $ 242 $ 87 $ 770 $ 483 Weighted average shares of common stock outstanding 223.1 233.4 225.7 233.2 Basic earnings per share of common stock $ 1.08 $ 0.37 $ 3.41 $ 2.07 Diluted earnings per share: Net earnings from continuing operations $ 242 $ 87 $ 770 $ 483 Weighted average shares of common stock outstanding 223.1 233.4 225.7 233.2 Effect of stock-based compensation 1.4 1.9 1.1 1.4 Weighted average shares of common stock outstanding including dilutive shares 224.5 235.3 226.8 234.6 Diluted earnings per share of common stock $ 1.08 $ 0.37 $ 3.40 $ 2.06

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company discloses segment information under four reportable segments, consistent with the way operating results are evaluated by management. The segments are further described below. These segments are strategic business groups that are managed separately as each represents a specific grouping of related automotive components and systems. In prior quarters, the Company presented its results under three reportable segments: Air Management, Drivetrain & Battery Systems and ePropulsion. Effective July 1, 2024, the Company implemented a new business unit and management structure designed to further enhance the execution of the Company’s Charging Forward strategy. The Company now reports its results in the following four reportable segments: Turbos & Thermal Technologies, Drivetrain & Morse Systems, PowerDrive Systems and Battery & Charging Systems. The reportable segment disclosures have been updated accordingly, which included recasting prior period information for the new reporting structure. • Turbos & Thermal Technologies. This segment’s products include turbochargers, eBoosters, eTurbos, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters and battery heaters. • Drivetrain & Morse Systems. This segment’s products include control modules, friction and mechanical clutch products for automatic transmissions, torque-management products and rear-wheel drive (“RWD”) and all-wheel drive (“AWD”) transfer case systems and coupling systems. Additionally, the Drivetrain & Morse Systems products include chain systems and variable camshaft phasing products. • PowerDrive Systems (formerly ePropulsion). This segment’s products include power electronics such as inverters, onboard chargers, DC/DC converters and combination boxes, rotating electric machines, fully integrated drive modules (consisting of inverter, eMotor and gear reducer), and electronic controls. • Battery & Charging Systems. This segment’s products include high-performance lithium-ion battery systems for electrified bus-, truck- and off-highway applications and DC (direct current) fast chargers suitable for all types of electric vehicles. 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 for the Company’s reportable segments 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, 2024 Nine Months Ended September 30, 2024 (in millions) Customers Inter-segment Net Customers Inter-segment Net Turbos & Thermal Technologies $ 1,385 $ 1 $ 1,386 $ 4,472 $ 3 $ 4,475 Drivetrain & Morse Systems 1,362 3 1,365 4,218 8 4,226 PowerDrive Systems 505 7 512 1,390 22 1,412 Battery & Charging Systems 197 — 197 567 — 567 Inter-segment eliminations — (11) (11) — (33) (33) Net sales $ 3,449 $ — $ 3,449 $ 10,647 $ — $ 10,647 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in millions) Customers Inter-segment Net Customers Inter-segment Net Turbos & Thermal Technologies $ 1,473 $ 1 $ 1,474 $ 4,567 $ 3 $ 4,570 Drivetrain & Morse Systems 1,447 2 1,449 4,142 4 4,146 PowerDrive Systems 556 15 571 1,572 52 1,624 Battery & Charging Systems 146 — 146 395 — 395 Inter-segment eliminations — (18) (18) — (59) (59) Net sales $ 3,622 $ — $ 3,622 $ 10,676 $ — $ 10,676 Total Assets by Reportable Segment (in millions) September 30, 2024 December 31, 2023 Turbos & Thermal Technologies $ 4,007 $ 3,938 Drivetrain & Morse Systems 4,128 4,262 PowerDrive Systems 3,326 3,185 Battery & Charging Systems 1,380 1,335 Total 12,841 12,720 Corporate 2,296 1,733 Consolidated $ 15,137 $ 14,453 Segment Adjusted Operating Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Turbos & Thermal Technologies $ 202 $ 214 $ 654 $ 660 Drivetrain & Morse Systems 251 253 770 700 PowerDrive Systems (19) (20) (130) (74) Battery & Charging Systems (8) (26) (33) (76) Segment Adjusted Operating Income 426 421 1,261 1,210 Corporate, including stock-based compensation 76 72 196 194 Restructuring expense (Note 5) 21 56 65 68 Intangible asset amortization expense 17 17 51 51 Accelerated depreciation 27 1 35 4 Commercial contract settlement — — 15 — Adjustments associated with Spin-Off related balances 3 — 14 — Collective bargaining agreement ratification bonus 4 — 4 — Loss (gain) on sale of businesses 6 — 3 (5) Asset impairment and lease modification — 2 — 11 Merger and acquisition expense, net (5) 2 — 18 Gain on sale of assets — (7) — (13) Other non-comparable items 7 6 16 3 Equity in affiliates’ earnings, net of tax (6) (10) (23) (23) Unrealized and realized (gain) loss on equity and debt securities (2) 60 — 129 Interest expense (income), net 4 (19) 17 3 Other postretirement expense 4 3 10 8 Earnings from continuing operations before income taxes and noncontrolling interest $ 270 $ 238 $ 858 $ 762

OPERATING CASH FLOWS AND OTHER

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2024
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) 2024 2023 OPERATING ACTIVITIES OF CONTINUING OPERATIONS Net earnings $ 787 $ 520 Net loss from discontinued operations (27) (12) Net earnings from continuing operations 814 532 Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations: Depreciation and tooling amortization 444 376 Intangible asset amortization 51 51 Restructuring expense, net of cash paid 8 61 Stock-based compensation expense 46 50 Gain on debt extinguishment (3) (28) Loss (gain) on sale of businesses 3 (5) Deferred income tax (benefit) expense (79) 19 Unrealized and realized loss on equity and debt securities — 129 Other non-cash adjustments 2 (80) Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations 472 573 Retirement plan contributions (16) (13) Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: Receivables (83) (767) Inventories (54) (126) Prepayments and other current assets (25) (16) Accounts payable and accrued expenses (307) 301 Prepaid taxes and income taxes payable (58) (44) Other assets and liabilities (43) 70 Net cash provided by operating activities from continuing operations $ 700 $ 510 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the period for: Interest $ 96 $ 105 Income taxes, net of refunds $ 268 $ 284 Balance as of: Non-cash investing transactions: September 30, December 31, Period end accounts payable related to property, plant and equipment purchases $ 106 $ 124

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS The following table summarizes the financial results from discontinued operations of PHINIA. ( in millions ) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ — $ — $ — $ 1,723 Cost of sales — — — 1,362 Gross profit — — — 361 Selling, general and administrative expenses — — — 173 Restructuring expense — — — 7 Other operating expense, net 4 52 28 117 Operating (loss) income (4) (52) (28) 64 Equity in affiliates’ earnings, net of tax — — — (5) (Loss) earnings from discontinued operations before income taxes (4) (52) (28) 69 Provision (benefit) for income taxes 4 (15) (1) 81 Net loss from discontinued operations attributable to PHINIA $ (8) $ (37) $ (27) $ (12) In connection with the Spin-Off, the Company entered into a transition services agreement through which the Company and PHINIA provided certain services to each other following the Spin-Off. These services were related to information technology, human resources, finance, facilities, procurement, sales, intellectual property and engineering. The Company completed the performance under the transition services agreement during the three months ended September 30, 2024. The combined impact of these services is reported in results of continuing operations in the Condensed Consolidated Financial Statements. During the nine months ended September 30, 2024, the Company provided services at a cost of $7 million to PHINIA and PHINIA provided services at a cost of $2 million to the Company. The Company incurred $4 million and $28 million of costs relating to the Spin-Off during the three and nine months ended September 30, 2024, respectively. 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. These costs are reflected within Net loss from discontinued operations in the Company’s Condensed Consolidated Statements of Operations. Spin-Off costs are primarily comprised of professional fees and costs to separate certain operational activities, including costs to separate information technology systems which the Company expects to decrease and ultimately conclude by the end of 2024.

OTHER MATTERS

OTHER MATTERS	9 Months Ended
	Sep. 30, 2024
Unusual or Infrequent Items, or Both [Abstract]
OTHER MATTERS	OTHER MATTERS On September 26, 2024, a hurricane made landfall in North Carolina disrupting operations at the Company’s facility in Arden, North Carolina (the “Arden Plant”). The Arden Plant was largely untouched, but the Company believes there is some loss or damage to the Company’s assets. While the Company is still assessing the full impact of the damage, the Company expects the loss of assets to be less than $10 million. The Company’s insurance policies (less applicable deductibles) are expected to cover the repair or replacement of the Company’s assets that incurred loss or damage. In addition, the Company’s insurance policies are expected to provide coverage for interruption to its business, including lost profits, and reimbursement for other expenses and costs that have been incurred relating to the damages and losses sustained. The Arden plant resumed limited production in early October 2024; however, has not yet resumed full operations. The Company has not yet determined the full impact to its financial position, results of operations or cash flows, including the timing of those impacts.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net earnings	$ 234	$ 50	$ 743	$ 471

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
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
	Sep. 30, 2024
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. Additionally, in the nine months ended September 30, 2024, the Company recognized a $19 million increase in Net earnings attributable to BorgWarner Inc. in the Condensed Consolidated Statement of Operations for the correction of misstatements related to certain accruals, of which $12 million related to 2023 (the remainder relates to periods prior to 2023). The Company has evaluated the effect of these out-of-period adjustments for the current reporting period, as well as on the previous interim and annual periods in which they should have been recognized, and concluded that these adjustments are not material to any of the periods affected. Operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. The balance sheet as of December 31, 2023 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, 2023.
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 November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” It requires incremental disclosures related to an entity’s reportable segments, including (i) significant segment expense categories and amounts for each reportable segment that are provided to the chief operating decision maker (“CODM”), (ii) an aggregate amount and description of other segment items included in each reported measure, (iii) all annual disclosures about a reportable segment’s profit or loss and assets required by Topic 280 to be disclosed in interim periods, (iv) the title and position of the individual or the name of the group identified as the CODM and (v) an explanation of how the CODM uses the reported measures of segment profit or loss to assess performance and allocate resources to the segment. The standard improves transparency by providing disaggregated expense information about an entity’s reportable segments. The standard does not change the definition of a segment, the method for determining segments or the criteria for aggregating operating segments into reportable segments. This guidance is effective for annual reporting periods beginning after December 15, 2023, and interim reporting periods beginning after December 15, 2024. Upon adoption, the Company will provide additional disclosures as required. The Company does not expect this guidance to have a material impact on the identification of its reportable segments or its Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” It requires entities to disaggregate information related to the effective tax rate reconciliation and income taxes paid. The standard improves transparency by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. This guidance is effective for annual reporting periods beginning after December 15, 2024. The Company does not expect this guidance to have a material impact on its Consolidated Financial Statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 6 years $ 9 Customer relationships 10 years 2 Total other intangible assets $ 11 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

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table represents a disaggregation of revenue from contracts with customers by Foundational products and eProducts for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Foundational products $ 2,810 $ 3,050 $ 8,926 $ 9,182 eProducts 639 572 1,721 1,494 Total $ 3,449 $ 3,622 $ 10,647 $ 10,676 The following tables represent a disaggregation of revenue from contracts with customers by reportable segment and region. The balances for prior periods have been recast for the reportable segment realignment for certain businesses that was completed in the third quarter of 2024. Refer to Note 22, “Reportable Segments,” to the Condensed Consolidated Financial Statements for more information. Three Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 335 $ 478 $ 87 $ 32 $ 932 Europe 668 295 143 152 1,258 Asia 329 589 275 3 1,196 Other 53 — — 10 63 Total $ 1,385 $ 1,362 $ 505 $ 197 $ 3,449 Three Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 385 $ 523 $ 118 $ 39 $ 1,065 Europe 732 318 95 98 1,243 Asia 306 606 343 7 1,262 Other 50 — — 2 52 Total $ 1,473 $ 1,447 $ 556 $ 146 $ 3,622 Nine Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 1,111 $ 1,517 $ 231 $ 134 $ 2,993 Europe 2,261 984 390 396 4,031 Asia 945 1,717 769 13 3,444 Other 155 — — 24 179 Total $ 4,472 $ 4,218 $ 1,390 $ 567 $ 10,647 Nine Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total North America $ 1,169 $ 1,543 $ 388 $ 100 $ 3,200 Europe 2,310 975 227 272 3,784 Asia 930 1,624 953 18 3,525 Other 158 — 4 5 167 Total $ 4,567 $ 4,142 $ 1,572 $ 395 $ 10,676

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Expense by Reportable Segment	The following tables display the Company’s restructuring expense by reportable segment: Three Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 7 $ 1 $ — $ — $ — $ 8 Other 8 — 5 — — 13 Total restructuring expense $ 15 $ 1 $ 5 $ — $ — $ 21 Three Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 53 $ 1 $ — $ — $ — $ 54 Other 1 1 — — — 2 Total restructuring expense $ 54 $ 2 $ — $ — $ — $ 56 Nine Months Ended September 30, 2024 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 16 $ 10 $ 10 $ 1 $ 1 $ 38 Other 14 1 12 — — 27 Total restructuring expense $ 30 $ 11 $ 22 $ 1 $ 1 $ 65 Nine Months Ended September 30, 2023 (in millions) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Corporate Total Employee termination benefits $ 60 $ 3 $ — $ — $ — $ 63 Other 4 1 — — — 5 Total restructuring expense $ 64 $ 4 $ — $ — $ — $ 68
Schedule of Restructuring Reserve of Roll Forward of the Restructuring Liability	The following tables display rollforwards 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, 2024 $ 68 $ 7 $ 75 Restructuring expense, net 38 27 65 Cash payments (54) (30) (84) Foreign currency translation adjustment and other — 2 2 Balance at September 30, 2024 52 6 58 Less: Non-current restructuring liability 8 — 8 Current restructuring liability at September 30, 2024 $ 44 $ 6 $ 50 (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

RESEARCH AND DEVELOPMENT COSTS

RESEARCH AND DEVELOPMENT COSTS (Tables)	9 Months Ended
	Sep. 30, 2024
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 ) 2024 2023 2024 2023 Gross R&D expenditures $ 218 $ 215 $ 656 $ 625 Customer reimbursements (28) (23) (90) (84) Net R&D expenditures $ 190 $ 192 $ 566 $ 541

OTHER OPERATING EXPENSE (INCO_2

OTHER OPERATING EXPENSE (INCOME), NET (Tables)	9 Months Ended
	Sep. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Expense (Income), Net	Items included in Other operating expense (income), net consist of: Three Months Ended September 30, Nine Months Ended September 30, ( in millions ) 2024 2023 2024 2023 Commercial contract settlement $ — $ — $ 15 $ — Adjustments associated with Spin-Off related balances 3 — 14 — Collective bargaining agreement ratification bonus 4 — 4 — Loss (gain) on sale of businesses 6 — 3 (5) Merger and acquisition expense, net (5) 2 — 18 Asset impairments and lease modifications — 2 — 11 Gain on sale of assets — (7) — (13) Other income, net (3) (3) (8) (12) Other operating expense (income), net $ 5 $ (6) $ 28 $ (1)

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	A summary of Inventories, net is presented below: September 30, December 31, (in millions) 2024 2023 Raw material and supplies $ 1,026 $ 991 Work in progress 159 160 Finished goods 213 194 FIFO inventories 1,398 1,345 LIFO reserve (32) (32) Inventories, net $ 1,366 $ 1,313

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
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 ) 2024 2023 Prepayments and other current assets: Prepaid tooling $ 113 $ 89 Prepaid taxes 42 38 Customer incentive payments (Note 4) 25 27 Contract assets (Note 4) 16 18 Derivative instruments 10 32 Other 69 57 Total prepayments and other current assets $ 275 $ 261 Investments and long-term receivables: Investment in equity affiliates $ 242 $ 237 Investment in equity securities 70 71 Long-term receivables 38 56 Total investments and long-term receivables $ 350 $ 364 Other non-current assets: Deferred income taxes $ 333 $ 257 Operating leases 142 143 Customer incentive payments (Note 4) 32 58 Derivative instruments 24 15 Other 45 39 Total other non-current assets $ 576 $ 512

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	9 Months Ended
	Sep. 30, 2024
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) Turbos & Thermal Technologies Drivetrain & Morse Systems PowerDrive Systems Battery & Charging Systems Total Gross goodwill balance, December 31, 2023 $ 1,257 $ 1,126 $ 481 $ 651 $ 3,515 Accumulated impairment losses, December 31, 2023 (502) — — — (502) Net goodwill balance, December 31, 2023 $ 755 $ 1,126 $ 481 $ 651 $ 3,013 Goodwill during the period: Other, primarily translation adjustment 4 1 3 6 14 Ending balance, September 30, 2024 $ 759 $ 1,127 $ 484 $ 657 $ 3,027
Schedule of Intangible Assets Gross Roll Forward	The Company’s other intangible assets, primarily from acquisitions, consist of the following: September 30, 2024 December 31, 2023 (in millions) Estimated useful lives (years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patented and unpatented technology 5 - 15 $ 364 $ 169 $ 195 $ 364 $ 145 $ 219 Customer relationships 6 - 15 643 332 311 641 305 336 Miscellaneous 2 - 5 10 8 2 9 6 3 Total amortized intangible assets 1,017 509 508 1,014 456 558 Unamortized trade names 6 — 6 6 — 6 Total other intangible assets $ 1,023 $ 509 $ 514 $ 1,020 $ 456 $ 564

PRODUCT WARRANTY (Tables)

PRODUCT WARRANTY (Tables)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	The following table summarizes the activity in the product warranty accrual accounts: (in millions) 2024 2023 Beginning balance, January 1 $ 196 $ 185 Provisions for current period sales 60 68 Adjustments of prior estimates 1 — Payments (47) (53) Other, primarily translation adjustment 2 (6) Ending balance, September 30 $ 212 $ 194 The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows: September 30, December 31, (in millions) 2024 2023 Other current liabilities $ 84 $ 91 Other non-current liabilities 128 105 Total product warranty liability $ 212 $ 196

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Instruments	As of September 30, 2024 and December 31, 2023, the Company had debt outstanding as follows: September 30, December 31, ( in millions ) 2024 2023 Short-term borrowings $ 60 $ 70 Long-term debt 3.375% Senior notes due 03/15/25 ($334 million par value) 334 384 5.000% Senior notes due 10/01/25 ($343 million par value) 1 354 477 2.650% Senior notes due 07/01/27 ($1,100 million par value) 1,095 1,093 7.125% Senior notes due 02/15/29 ($121 million par value) 120 120 4.950% Senior notes due 08/15/29 ($500 million par value) 495 — 1.000% Senior notes due 05/19/31 (€1,000 million par value) 1,099 1,088 5.400% Senior notes due 08/15/34 ($500 million par value) 493 — 4.375% Senior notes due 03/15/45 ($500 million par value) 495 495 Term loan facilities, finance leases and other 48 53 Total long-term debt 4,533 3,710 Less: current portion 338 3 Long-term debt, net of current portion $ 4,195 $ 3,707 _____________________________ 1 These notes include the fair value step up of $11 million and $24 million as of September 30, 2024 and December 31, 2023, respectively, related to the Delphi Technologies acquisition in 2020. 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) 2024 2023 2024 2023 Interest expense $ 24 $ 21 $ 56 $ 57 Gain on debt extinguishment (3) (28) (3) (28) Interest income (17) (12) (36) (26) Interest expense (income), net $ 4 $ (19) $ 17 $ 3

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Additional Details Related to Other Liabilities	Additional detail related to liabilities is presented in the table below: September 30, December 31, ( in millions ) 2024 2023 Other current liabilities: Payroll and employee related $ 327 $ 329 Customer related 175 124 Indirect taxes 116 121 Product warranties (Note 12) 84 91 Income taxes payable 49 103 Employee termination benefits (Note 5) 44 61 Operating leases 36 37 Interest 28 26 Accrued freight 25 26 Dividends payable to noncontrolling stockholders 25 — Supplier related 23 16 Insurance 17 16 Contract liabilities (Note 4) 15 18 Other non-income taxes 14 12 Retirement related 11 11 Deferred engineering 15 13 Other 140 144 Total other current liabilities $ 1,144 $ 1,148 Other non-current liabilities: Deferred income taxes $ 157 $ 160 Product warranties (Note 12) 128 105 Other income tax liabilities 121 226 Operating leases 110 112 Deferred income 95 83 Employee termination benefits (Note 5) 8 7 Earn-out liability (Note 3) 8 13 Other 99 61 Total other non-current liabilities $ 726 $ 767

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule 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, 2024 and December 31, 2023: Basis of fair value measurements (in millions) Balance at September 30, 2024 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 equity securities $ 26 $ — $ — $ — — $ 26 Foreign currency contracts $ 11 $ — $ 11 $ — A $ — Net investment hedge contracts $ 23 $ — $ 23 $ — A $ — Liabilities: Non-current earn-out liability $ 8 $ — $ — $ 8 C $ — Net investment hedge contracts $ 6 $ — $ 6 $ — A $ — Foreign currency contracts $ 27 $ — $ 27 $ — 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 $ 5 $ — $ — $ 5 C $ — Investment in equity securities $ 26 $ — $ — $ — — $ 26 Foreign currency contracts $ 33 $ — $ 33 $ — A $ — Net investment hedge contracts $ 14 $ — $ 14 $ — A $ — Liabilities: Current earn-out liability $ 2 $ — $ — $ 2 C $ — Non-current earn-out liability $ 13 $ — $ — $ 13 C $ — Foreign currency contracts $ 3 $ — $ 3 $ — A $ — Net investment hedge contracts $ 2 $ — $ 2 $ — A $ — _____________________________ 1
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a reconciliation of the Company’s Level 3 earn-out assets and liabilities: Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (in millions) Current earn-out receivables Current earn-out liabilities Non-current earn-out liabilities Balance at January 1, 2023 $ 9 $ 21 $ 10 Contingent earn-out recognized upon acquisition or disposition 5 5 3 Change in fair value of contingent consideration (9) (24) — Balance at December 31, 2023 $ 5 $ 2 $ 13 Change in fair value of contingent consideration 3 (1) (5) Earn-out settlements (8) (1) — Balance at September 30, 2024 $ — $ — $ 8

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Exchange Derivative Contracts Outstanding	At September 30, 2024 and December 31, 2023, 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 80 83 Sep - 26 Chinese Renminbi U.S. Dollar 221 209 Sep - 26 Euro British Pound — 15 Aug - 24 Euro Hungarian Forint 9,291 8,233 Sep - 26 Euro Swiss Franc 39 24 Sep - 26 Euro Polish Zloty 620 573 Sep - 26 Euro U.S. Dollar 172 152 Sep - 26 Thai Baht U.S. Dollar 31 30 Sep - 25 U.S. Dollar Chinese Renminbi 666 582 Aug - 25 U.S. Dollar Korean Won 51,548 34,209 Nov - 25 U.S. Dollar Mexican Peso 4,621 3,280 Sep - 26 U.S. Dollar Thai Baht — 2,100 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, 2024 and December 31, 2023.
Schedule of Foreign Exchange Contracts, Statement of Financial Position	At September 30, 2024 and December 31, 2023, the following cross-currency swap contracts were outstanding: Cross-currency swaps (in millions) September 30, 2024 December 31, 2023 Ending duration U.S. Dollar to Euro: Fixed receiving notional $ 1,100 $ 1,100 Jul - 27 Fixed paying notional € 976 € 976 Jul - 27 U.S. Dollar to Euro: Fixed receiving notional $ — $ 500 Mar - 25 Fixed paying notional € — € 450 Mar - 25 Fixed receiving notional $ 500 $ — Mar - 29 Fixed paying notional € 470 € — Mar - 29 U.S. 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, 2024 and December 31, 2023, the following amounts were recorded in the Condensed Consolidated Balance Sheets as being payable to or receivable from counterparties for derivative instruments under ASC Topic 815, “Derivatives and Hedging”: (in millions) Assets Liabilities Derivatives designated as hedging instruments Under 815: Location September 30, 2024 December 31, 2023 Location September 30, 2024 December 31, 2023 Foreign currency Prepayments and other current assets $ 9 $ 30 Other current liabilities $ 20 $ 2 Foreign currency Other non-current assets $ 1 $ 1 Other non-current liabilities $ 6 $ — Net investment hedges Other non-current assets $ 23 $ 14 Other non-current liabilities $ 6 $ 2 Derivatives not designated as hedging instruments: Foreign currency Prepayments and other current assets $ 1 $ 2 Other current liabilities $ 1 $ 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, 2024 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, 2024 December 31, 2023 Net investment hedges: Cross-currency swaps $ 17 $ 12 $ — Foreign currency-denominated debt 90 100 — Total $ 107 $ 112 $ — 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 2024 2023 2024 2023 Foreign currency $ — $ — $ — $ — Cross-currency swaps $ (33) $ 40 $ 5 $ 11 Foreign currency-denominated debt $ (42) $ 34 $ (10) $ 13
Schedule of Derivative Instruments	Derivative instruments designated as hedging instruments as defined by ASC Topic 815 held during the period resulted in the gains and losses recorded in income shown in the table below. Certain prior period amounts have been revised and moved to these tables from the table disclosing gains recorded on derivatives not designated as hedging instruments. Three Months Ended September 30, 2024 (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 $ 3,449 $ 2,813 $ 340 $ 130 Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 23 Gain (loss) reclassified from AOCI to income $ 1 $ 4 $ — $ — Nine Months Ended September 30, 2024 (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 $ 10,647 $ 8,682 $ 1,010 $ 20 Gain (loss) on cash flow hedging relationships: Foreign currency: Gain (loss) recognized in other comprehensive income $ 19 Gain (loss) reclassified from AOCI to income $ 1 $ 26 $ — $ — 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 $ 1 Gain (loss) reclassified from AOCI to income $ — $ — $ 12 $ — 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 $ 49 Gain (loss) reclassified from AOCI to income $ — $ — $ 22 $ —
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 2024 2023 2024 2023 Cross-currency swaps $ 6 $ 6 $ 17 $ 19
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 gains (losses) recorded in income as shown in the table below. Certain prior period amounts have been moved from this table to the table disclosing gains and losses recorded on derivatives designated as hedging instruments (in millions) Three Months Ended September 30, Nine Months Ended September 30, Contract Type Location 2024 2023 2024 2023 Foreign Currency Selling, general and administrative expenses $ 1 $ 4 $ 1 $ (14)

RETIREMENT BENEFIT PLANS (Table

RETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit (Income) Costs	The components of net periodic benefit expense recorded in the Condensed Consolidated Statements of Operations are as follows: Pension benefits Other postemployment benefits (in millions) 2024 2023 Three Months Ended September 30, US Non-US US Non-US 2024 2023 Service cost $ — $ 2 $ — $ 4 $ — $ — Interest cost 2 5 2 26 — — Expected return on plan assets (1) (3) (1) (25) — — Amortization of unrecognized prior service credit (1) — — — — (1) Amortization of unrecognized loss — 2 1 1 — — Net periodic benefit cost $ — $ 6 $ 2 $ 6 $ — $ (1) Pension benefits Other postemployment benefits (in millions) 2024 2023 Nine Months Ended September 30, US Non-US US Non-US 2024 2023 Service cost $ — $ 9 $ — $ 11 $ — $ — Interest cost 5 15 5 37 1 1 Expected return on plan assets (4) (11) (4) (33) — — Amortization of unrecognized prior service credit (1) — — — (1) (2) Amortization of unrecognized loss 2 4 2 2 — — Net periodic benefit cost $ 2 $ 17 $ 3 $ 17 $ — $ (1)

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity	The changes of the Stockholders’ Equity items during the three and nine months ended September 30, 2024 and 2023, 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, 2024 $ 3 $ 2,645 $ (2,237) $ 6,620 $ (938) $ 192 $ 6,285 Dividends declared ($0.11 per share*) — — — (24) — (22) (46) Issuance for executive stock plan, net of tax — 8 — — — — 8 Issuance of restricted stock, net of tax — 4 5 — — — 9 Purchase of treasury stock — — (304) — — — (304) Net earnings — — — 234 — 15 249 Other comprehensive income — — — — 130 11 141 Spin-Off of PHINIA — — — 10 — — 10 Balance, September 30, 2024 $ 3 $ 2,657 $ (2,536) $ 6,840 $ (808) $ 196 $ 6,352 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) Issuance for executive stock plan, net of tax — 10 — — — — 10 Issuance of restricted stock, net of tax — 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, December 31, 2023 $ 3 $ 2,689 $ (2,188) $ 6,152 $ (828) $ 238 $ 6,066 Dividends declared ($0.22 per share*) — — — (74) — (89) (163) Issuance for executive stock plan, net of tax — (14) 21 — — — 7 Issuance of restricted stock, net of tax — (18) 35 — — — 17 Purchase of treasury stock — — (404) — — — (404) Net earnings — — — 743 — 44 787 Other comprehensive income — — — — 20 3 23 Spin-Off of PHINIA — — — 19 — — 19 Balance, September 30, 2024 $ 3 $ 2,657 $ (2,536) $ 6,840 $ (808) $ 196 $ 6,352 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) Issuance for executive stock plan, net of tax — 10 5 — — — 15 Issuance of restricted stock, net of tax — (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 __________________________________ * Per share dividends amount declared relate to BorgWarner common stock.

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and 2023. Certain prior period amounts have been updated to reflect the gains and losses on hedge instruments that were reclassified to the income statement. (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2024 $ (816) $ 10 $ (132) $ (938) Comprehensive (loss) income before reclassifications 143 (23) (1) 119 Income taxes associated with comprehensive (loss) income before reclassifications 16 — 3 19 Reclassification from accumulated other comprehensive (loss) income — (5) (1) (6) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (2) (2) Ending balance, September 30, 2024 $ (657) $ (18) $ (133) $ (808) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, June 30, 2023 $ (806) $ 42 $ (134) $ (898) Comprehensive (loss) income before reclassifications 17 1 5 23 Income taxes associated with comprehensive (loss) income before reclassifications (13) — 1 (12) Reclassification from accumulated other comprehensive (loss) income — (12) 1 (11) Income taxes associated with comprehensive income (loss) 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, 2023 $ (719) $ 28 $ (137) $ (828) Comprehensive income (loss) before reclassifications 67 (19) 7 55 Income taxes associated with comprehensive income (loss) before reclassifications (5) — 2 (3) Reclassification from accumulated other comprehensive (loss) income — (27) (4) (31) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (1) (1) Ending balance, September 30, 2024 $ (657) $ (18) $ (133) $ (808) (in millions) Foreign currency translation adjustments Hedge instruments Defined benefit retirement plans Total Beginning balance, December 31, 2022 $ (750) $ 4 $ (130) $ (876) Comprehensive income (loss) before reclassifications (51) 49 1 (1) Income taxes associated with comprehensive income (loss) before reclassifications (1) — — (1) Reclassification from accumulated other comprehensive (loss) income — (22) 2 (20) Income taxes associated with comprehensive income (loss) reclassified into net earnings — — (1) (1) Spin-Off of PHINIA (20) (1) 5 (16) Ending balance, September 30, 2023 $ (822) $ 30 $ (123) $ (915)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
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) 2024 2023 2024 2023 Basic earnings per share: Net earnings from continuing operations $ 242 $ 87 $ 770 $ 483 Weighted average shares of common stock outstanding 223.1 233.4 225.7 233.2 Basic earnings per share of common stock $ 1.08 $ 0.37 $ 3.41 $ 2.07 Diluted earnings per share: Net earnings from continuing operations $ 242 $ 87 $ 770 $ 483 Weighted average shares of common stock outstanding 223.1 233.4 225.7 233.2 Effect of stock-based compensation 1.4 1.9 1.1 1.4 Weighted average shares of common stock outstanding including dilutive shares 224.5 235.3 226.8 234.6 Diluted earnings per share of common stock $ 1.08 $ 0.37 $ 3.40 $ 2.06

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Net Sales and Total Assets by Reporting Segment	The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments: Net Sales by Reportable Segment Three Months Ended September 30, 2024 Nine Months Ended September 30, 2024 (in millions) Customers Inter-segment Net Customers Inter-segment Net Turbos & Thermal Technologies $ 1,385 $ 1 $ 1,386 $ 4,472 $ 3 $ 4,475 Drivetrain & Morse Systems 1,362 3 1,365 4,218 8 4,226 PowerDrive Systems 505 7 512 1,390 22 1,412 Battery & Charging Systems 197 — 197 567 — 567 Inter-segment eliminations — (11) (11) — (33) (33) Net sales $ 3,449 $ — $ 3,449 $ 10,647 $ — $ 10,647 Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 (in millions) Customers Inter-segment Net Customers Inter-segment Net Turbos & Thermal Technologies $ 1,473 $ 1 $ 1,474 $ 4,567 $ 3 $ 4,570 Drivetrain & Morse Systems 1,447 2 1,449 4,142 4 4,146 PowerDrive Systems 556 15 571 1,572 52 1,624 Battery & Charging Systems 146 — 146 395 — 395 Inter-segment eliminations — (18) (18) — (59) (59) Net sales $ 3,622 $ — $ 3,622 $ 10,676 $ — $ 10,676 Total Assets by Reportable Segment (in millions) September 30, 2024 December 31, 2023 Turbos & Thermal Technologies $ 4,007 $ 3,938 Drivetrain & Morse Systems 4,128 4,262 PowerDrive Systems 3,326 3,185 Battery & Charging Systems 1,380 1,335 Total 12,841 12,720 Corporate 2,296 1,733 Consolidated $ 15,137 $ 14,453
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) 2024 2023 2024 2023 Turbos & Thermal Technologies $ 202 $ 214 $ 654 $ 660 Drivetrain & Morse Systems 251 253 770 700 PowerDrive Systems (19) (20) (130) (74) Battery & Charging Systems (8) (26) (33) (76) Segment Adjusted Operating Income 426 421 1,261 1,210 Corporate, including stock-based compensation 76 72 196 194 Restructuring expense (Note 5) 21 56 65 68 Intangible asset amortization expense 17 17 51 51 Accelerated depreciation 27 1 35 4 Commercial contract settlement — — 15 — Adjustments associated with Spin-Off related balances 3 — 14 — Collective bargaining agreement ratification bonus 4 — 4 — Loss (gain) on sale of businesses 6 — 3 (5) Asset impairment and lease modification — 2 — 11 Merger and acquisition expense, net (5) 2 — 18 Gain on sale of assets — (7) — (13) Other non-comparable items 7 6 16 3 Equity in affiliates’ earnings, net of tax (6) (10) (23) (23) Unrealized and realized (gain) loss on equity and debt securities (2) 60 — 129 Interest expense (income), net 4 (19) 17 3 Other postretirement expense 4 3 10 8 Earnings from continuing operations before income taxes and noncontrolling interest $ 270 $ 238 $ 858 $ 762

OPERATING CASH FLOWS AND OTHE_2

OPERATING CASH FLOWS AND OTHER SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Nine Months Ended September 30, (in millions) 2024 2023 OPERATING ACTIVITIES OF CONTINUING OPERATIONS Net earnings $ 787 $ 520 Net loss from discontinued operations (27) (12) Net earnings from continuing operations 814 532 Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations: Depreciation and tooling amortization 444 376 Intangible asset amortization 51 51 Restructuring expense, net of cash paid 8 61 Stock-based compensation expense 46 50 Gain on debt extinguishment (3) (28) Loss (gain) on sale of businesses 3 (5) Deferred income tax (benefit) expense (79) 19 Unrealized and realized loss on equity and debt securities — 129 Other non-cash adjustments 2 (80) Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations 472 573 Retirement plan contributions (16) (13) Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments: Receivables (83) (767) Inventories (54) (126) Prepayments and other current assets (25) (16) Accounts payable and accrued expenses (307) 301 Prepaid taxes and income taxes payable (58) (44) Other assets and liabilities (43) 70 Net cash provided by operating activities from continuing operations $ 700 $ 510 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the period for: Interest $ 96 $ 105 Income taxes, net of refunds $ 268 $ 284 Balance as of: Non-cash investing transactions: September 30, December 31, Period end accounts payable related to property, plant and equipment purchases $ 106 $ 124

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations	The following table summarizes the financial results from discontinued operations of PHINIA. ( in millions ) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ — $ — $ — $ 1,723 Cost of sales — — — 1,362 Gross profit — — — 361 Selling, general and administrative expenses — — — 173 Restructuring expense — — — 7 Other operating expense, net 4 52 28 117 Operating (loss) income (4) (52) (28) 64 Equity in affiliates’ earnings, net of tax — — — (5) (Loss) earnings from discontinued operations before income taxes (4) (52) (28) 69 Provision (benefit) for income taxes 4 (15) (1) 81 Net loss from discontinued operations attributable to PHINIA $ (8) $ (37) $ (27) $ (12)

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Millions		3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 03, 2023	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) segment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net earnings		$ 234	$ 50	$ 743	$ 471
Number of reportable segments (segments) | segment		4		4		3
Distribution of outstanding common stock percentage	100%
Conversion ratio of common stock distribution	0.2
BorgWarner | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net earnings				$ 19		$ 12

ACQUISITIONS - Narrative (Detai

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

3 Months Ended

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 (¥)

Jun. 30, 2024 USD ($)

Jun. 30, 2024 CNY (¥)

Sep. 30, 2024 USD ($)

Sep. 30, 2024 CNY (¥)

Sep. 30, 2023 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2023 CNY (¥)

Dec. 31, 2022 USD ($)

Dec. 31, 2022 CNY (¥)

Sep. 30, 2024 CNY (¥)

Sep. 30, 2024 CHF (SFr)

Dec. 01, 2023 USD ($)

Dec. 01, 2023 EUR (€)

Jun. 30, 2023 USD ($)

Jun. 30, 2023 CNY (¥)

Mar. 01, 2023 CNY (¥)

Dec. 01, 2022 CHF (SFr)

Mar. 31, 2022 CNY (¥)

Business Acquisition [Line Items]

Goodwill

$ 3,027

$ 3,013

Company paid

1

$ 23

Eldor Corporation’s Electric Hybrid Systems Business

Business Acquisition [Line Items]

Earn out payment liability

$ 78

€ 72

Contractual earn-out payments

$ 191

€ 175

Retention payment payable period

2 years

2 years

Estimated fair values of assets acquired and liabilities assumed, assets

$ 86

Estimated fair value of goodwill and intangibles

25

Estimated fair values of assets acquired and liabilities assumed, liabilities

8

Goodwill

$ 14

Hubei Surpass Sun Electric Charging Business

Business Acquisition [Line Items]

Contractual earn-out payments

$ 15

¥ 103

Goodwill

$ 2

Business acquisition, percentage of voting interests acquired

100%

100%

Business consideration

$ 42

¥ 288

Base purchase price

39

268

Payments to acquire businesses

4

¥ 25

$ 31

¥ 217

Remaining consideration payable

$ 4

¥ 26

Company paid

$ 1

¥ 10

Hubei Surpass Sun Electric Charging Business | Other current liabilities

Business Acquisition [Line Items]

Consideration payable in next three months

1

¥ 6

Hubei Surpass Sun Electric Charging Business | Other current liabilities

Business Acquisition [Line Items]

Consideration payable in next two years

3

¥ 20

Consideration payable

2

¥ 10

Drivetek AG

Business Acquisition [Line Items]

Earn out payment liability

$ 6

SFr 5

Contractual earn-out payments

$ 10

SFr 10

Retention payment payable period

3 years

3 years

Business acquisition, percentage of voting interests acquired

100%

100%

Business consideration

$ 39

SFr 37

Base purchase price

29

27

Payments to acquire businesses

$ 29

SFr 27

Other non-current liability

$ 6

SFr 5

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

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

$ 24

¥ 200

¥ 250

Contractual earn-out payments

$ 47

¥ 300

Business acquisition, percentage of voting interests acquired

100%

100%

Business consideration

$ 192

Base purchase price

$ 152

¥ 1,000

Payments to acquire businesses

$ 157

¥ 1,000

Business combination, other operating expense

$ 5

ACQUISITIONS - Schedule of Othe

ACQUISITIONS - Schedule of Other Intangible Assets Acquired (Details) - USD ($) $ in Millions	Dec. 01, 2023	Mar. 01, 2023
Eldor Corporation’s Electric Hybrid Systems Business
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 11
Eldor Corporation’s Electric Hybrid Systems Business | Developed technology
Finite-Lived Intangible Assets [Line Items]
Estimated Life	6 years
Estimated Fair Value	$ 9
Eldor Corporation’s Electric Hybrid Systems Business | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Life	10 years
Estimated Fair Value	$ 2
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

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Allowance for credit loss	$ 16	$ 18
Contract liabilities - current	15	18
Customer incentive payments	25	27
Customer incentive payments, noncurrent	$ 32	58
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	$ 15	18
Other non-current liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities - current	18	10
Prepayments and other current assets
Disaggregation of Revenue [Line Items]
Customer incentive payments	25	27
Other non-current assets
Disaggregation of Revenue [Line Items]
Customer incentive payments, noncurrent	$ 32	$ 58

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue Foundational Products and eProducts (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from External Customer [Line Items]
Total	$ 3,449	$ 3,622	$ 10,647	$ 10,676
Foundational products
Revenue from External Customer [Line Items]
Total	2,810	3,050	8,926	9,182
eProducts
Revenue from External Customer [Line Items]
Total	$ 639	$ 572	$ 1,721	$ 1,494

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 3,449	$ 3,622	$ 10,647	$ 10,676
Turbos & Thermal Technologies
Disaggregation of Revenue [Line Items]
Net sales	1,385	1,473	4,472	4,567
Drivetrain & Morse Systems
Disaggregation of Revenue [Line Items]
Net sales	1,362	1,447	4,218	4,142
PowerDrive Systems
Disaggregation of Revenue [Line Items]
Net sales	505	556	1,390	1,572
Battery & Charging Systems
Disaggregation of Revenue [Line Items]
Net sales	197	146	567	395
North America
Disaggregation of Revenue [Line Items]
Net sales	932	1,065	2,993	3,200
North America | Turbos & Thermal Technologies
Disaggregation of Revenue [Line Items]
Net sales	335	385	1,111	1,169
North America | Drivetrain & Morse Systems
Disaggregation of Revenue [Line Items]
Net sales	478	523	1,517	1,543
North America | PowerDrive Systems
Disaggregation of Revenue [Line Items]
Net sales	87	118	231	388
North America | Battery & Charging Systems
Disaggregation of Revenue [Line Items]
Net sales	32	39	134	100
Europe
Disaggregation of Revenue [Line Items]
Net sales	1,258	1,243	4,031	3,784
Europe | Turbos & Thermal Technologies
Disaggregation of Revenue [Line Items]
Net sales	668	732	2,261	2,310
Europe | Drivetrain & Morse Systems
Disaggregation of Revenue [Line Items]
Net sales	295	318	984	975
Europe | PowerDrive Systems
Disaggregation of Revenue [Line Items]
Net sales	143	95	390	227
Europe | Battery & Charging Systems
Disaggregation of Revenue [Line Items]
Net sales	152	98	396	272
Asia
Disaggregation of Revenue [Line Items]
Net sales	1,196	1,262	3,444	3,525
Asia | Turbos & Thermal Technologies
Disaggregation of Revenue [Line Items]
Net sales	329	306	945	930
Asia | Drivetrain & Morse Systems
Disaggregation of Revenue [Line Items]
Net sales	589	606	1,717	1,624
Asia | PowerDrive Systems
Disaggregation of Revenue [Line Items]
Net sales	275	343	769	953
Asia | Battery & Charging Systems
Disaggregation of Revenue [Line Items]
Net sales	3	7	13	18
Other
Disaggregation of Revenue [Line Items]
Net sales	63	52	179	167
Other | Turbos & Thermal Technologies
Disaggregation of Revenue [Line Items]
Net sales	53	50	155	158
Other | Drivetrain & Morse Systems
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Other | PowerDrive Systems
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	4
Other | Battery & Charging Systems
Disaggregation of Revenue [Line Items]
Net sales	$ 10	$ 2	$ 24	$ 5

RESTRUCTURING - Schedule of Res

RESTRUCTURING - Schedule of Reserve by Type of Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid			$ 8	$ 61
Restructuring expense	$ 21	$ 56	65	68
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	1	0
Turbos & Thermal Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	15	54	30	64
Drivetrain & Morse Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	2	11	4
PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	5	0	22	0
Battery & Charging Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	1	0
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense	8	54	38	63
Employee termination benefits | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	1	0
Employee termination benefits | Turbos & Thermal Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	7	53	16	60
Employee termination benefits | Drivetrain & Morse Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	1	10	3
Employee termination benefits | PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	10	0
Employee termination benefits | Battery & Charging Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	1	0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring expense	13	2	27	5
Other | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	0	0	0
Other | Turbos & Thermal Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	8	1	14	4
Other | Drivetrain & Morse Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	0	1	1	1
Other | PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	5	0	12	0
Other | Battery & Charging Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	$ 0	$ 0	$ 0	$ 0

RESTRUCTURING - Schedule of Rol

RESTRUCTURING - Schedule of Roll Forward of Restructuring Liability (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 75	$ 48	$ 48
Restructuring expense, net	$ 21	$ 56	65	68
Cash payments			(84)	(41)
Foreign currency translation adjustment and other			2	1
Restructuring reserve, ending balance	58	76	58	76	75
Less: Non-current restructuring liability	8	7	8	7
Current restructuring liability	50	69	50	69
Employee Termination Benefits
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			68	39	39
Restructuring expense, net	8	54	38	63
Cash payments			(54)	(32)
Foreign currency translation adjustment and other			0	(1)
Restructuring reserve, ending balance	52	69	52	69	68
Less: Non-current restructuring liability	8	7	8	7
Current restructuring liability	44	62	44	62
Other
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			7	9	9
Restructuring expense, net	13	2	27	5
Cash payments			(30)	(9)
Foreign currency translation adjustment and other			2	2
Restructuring reserve, ending balance	6	7	6	7	$ 7
Less: Non-current restructuring liability	0	0	0	0
Current restructuring liability	$ 6	$ 7	$ 6	$ 7

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net	$ 21	$ 56	$ 65	$ 68
Restructuring expense, net of cash paid			8	61
Turbos & Thermal Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	15	54	30	64
Drivetrain & Morse Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	2	11	4
PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	5	0	22	0
2023 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net	18		52		$ 131
Restructuring expense, net of cash paid		56		68
2023 Restructuring Plan | Turbos & Thermal Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	15	54	30	64
2023 Restructuring Plan | Turbos & Thermal Technologies | Severance Costs and Professional Fees
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			16	60
2023 Restructuring Plan | Turbos & Thermal Technologies | Professional Fees and Equipment Relocation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			14
2023 Restructuring Plan | Drivetrain & Morse Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	1	$ 2	11	$ 4
2023 Restructuring Plan | Drivetrain & Morse Systems | Severance Costs and Professional Fees
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			10
2023 Restructuring Plan | PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	2		9
2023 Restructuring Plan | PowerDrive Systems | Professional Fees and Equipment Relocation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			8
2023 Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan					130
2023 Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan					$ 150
2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related plan						$ 75
2024 Restructuring Plan | PowerDrive Systems
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net of cash paid	$ 3		13
2024 Restructuring Plan | PowerDrive Systems | Severance Costs and Professional Fees
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			9
2024 Restructuring Plan | PowerDrive Systems | Professional Fees and Equipment Relocation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring expense, net			$ 4

RESEARCH AND DEVELOPMENT COST_2

RESEARCH AND DEVELOPMENT COSTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Research and Development [Abstract]
Gross R&D expenditures	$ 218	$ 215	$ 656	$ 625
Customer reimbursements	(28)	(23)	(90)	(84)
Net R&D expenditures	$ 190	$ 192	$ 566	$ 541

OTHER OPERATING EXPENSE (INCO_3

OTHER OPERATING EXPENSE (INCOME), NET - Schedule of Other Operating Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Commercial contract settlement	$ 0	$ 0	$ 15	$ 0
Adjustments associated with Spin-Off related balances	3	0	14	0
Collective bargaining agreement ratification bonus	4	0	4	0
Merger and acquisition expense, net	(5)	2	0	18
Loss (gain) on sale of businesses	6	0	3	(5)
Asset impairments and lease modifications	0	2	0	11
Gain on sale of assets	0	(7)	0	(13)
Other income, net	(3)	(3)	(8)	(12)
Other operating expense (income), net	$ 5	$ (6)	$ 28	$ (1)

OTHER OPERATING EXPENSE (INCO_4

OTHER OPERATING EXPENSE (INCOME), NET - Narrative (Details) SFr in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 01, 2022 USD ($)	Dec. 01, 2022 CHF (SFr)
Business Acquisition [Line Items]
Commercial contract settlement	$ 0	$ 0	$ 15	$ 0
Adjustments associated with Spin-Off related balances	3	0	14	0
Collective bargaining agreement ratification bonus	4	0	4	0
Loss on sale of businesses	6	0	3	(5)
Estimated loss on immaterial business	6
Merger and acquisition expense, net	(5)	2	0	18
Asset impairments and lease modifications	0	2	0	11
Gain on sale of assets	$ 0	$ 7	$ 0	$ 13
Drivetek AG
Business Acquisition [Line Items]
Earn out payment liability					$ 6	SFr 5

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation (as percent)	5%	56%	5%	30%
Tax adjustment expense (benefit)	$ 18	$ 31	$ 107	$ 39
Net changes to valuation allowances	4		(4)
Tax law changes, expense (benefit)		87		9
Resolution of tax audit, expense (benefit)				(14)
Effective income tax reconciliation, discrete tax benefit				85
Spinoff
Income Tax Contingency [Line Items]
Tax adjustment expense (benefit)	36	$ 12	$ 36	$ 41
Net changes to valuation allowances	$ (1)

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw material and supplies	$ 1,026	$ 991
Work in progress	159	160
Finished goods	213	194
FIFO inventories	1,398	1,345
LIFO reserve	(32)	(32)
Inventories, net	$ 1,366	$ 1,313

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Prepayments and other current assets:
Prepaid tooling	$ 113	$ 89
Prepaid taxes	42	38
Customer incentive payments (Note 4)	25	27
Derivative instruments	10	32
Contract assets (Note 4)	16	18
Other	69	57
Total prepayments and other current assets	275	261
Investments and long-term receivables:
Investment in equity affiliates	242	237
Investment in equity securities	70	71
Long-term receivables	38	56
Total investments and long-term receivables	350	364
Other non-current assets:
Deferred income taxes	333	257
Operating leases	142	143
Derivative instruments	24	15
Customer incentive payments (Note 4)	32	58
Other	45	39
Total other non-current assets	$ 576	$ 512

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES - Narrative (Details)	9 Months Ended
	Sep. 30, 2024 reportingUnit
Goodwill [Line Items]
Number of reporting units	2
PowerDrive Systems
Goodwill [Line Items]
Percentage of fair value of reporting unit in excess of carrying amount.	5%

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Schedule of Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2023	$ 3,515
Accumulated impairment losses, December 31, 2023		$ (502)
Goodwill, beginning balance	3,013
Other, primarily translation adjustment	14
Goodwill, ending balance	3,027
Turbos & Thermal Technologies
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2023	1,257
Accumulated impairment losses, December 31, 2023		(502)
Goodwill, beginning balance	755
Other, primarily translation adjustment	4
Goodwill, ending balance	759
Drivetrain & Morse Systems
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2023	1,126
Accumulated impairment losses, December 31, 2023		0
Goodwill, beginning balance	1,126
Other, primarily translation adjustment	1
Goodwill, ending balance	1,127
PowerDrive Systems
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2023	481
Accumulated impairment losses, December 31, 2023		0
Goodwill, beginning balance	481
Other, primarily translation adjustment	3
Goodwill, ending balance	484
Battery & Charging Systems
Goodwill [Roll Forward]
Gross goodwill balance, December 31, 2023	651
Accumulated impairment losses, December 31, 2023		$ 0
Goodwill, beginning balance	651
Other, primarily translation adjustment	6
Goodwill, ending balance	$ 657

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	$ 1,017	$ 1,014
Amortized intangible assets, accumulated amortization	509	456
Amortized intangible assets, net carrying amount	508	558
Intangible assets, gross (excluding goodwill)	1,023	1,020
Other intangible assets, net	514	564
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	364	364
Amortized intangible assets, accumulated amortization	169	145
Amortized intangible assets, net carrying amount	195	219
Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	643	641
Amortized intangible assets, accumulated amortization	332	305
Amortized intangible assets, net carrying amount	311	336
Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortized intangible assets, gross carrying amount	10	9
Amortized intangible assets, accumulated amortization	8	6
Amortized intangible assets, net carrying amount	$ 2	$ 3
Minimum | Patented and unpatented technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	5 years	5 years
Minimum | Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	6 years	6 years
Minimum | Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	2 years	2 years
Maximum | Patented and unpatented technology
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	15 years	15 years
Maximum | Customer relationships
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	15 years	15 years
Maximum | Miscellaneous
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Estimated useful lives (years)	5 years	5 years

PRODUCT WARRANTY - Narrative (D

PRODUCT WARRANTY - Narrative (Details)	9 Months Ended
	Sep. 30, 2024
Minimum
Guarantor Obligations [Line Items]
Product warranty term	1 year
Maximum
Guarantor Obligations [Line Items]
Product warranty term	3 years

PRODUCT WARRANTY - Schedule of

PRODUCT WARRANTY - Schedule of Product Warranty Accrual Accounts (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Product warranty rollforward
Beginning balance, January 1	$ 196	$ 185
Provisions for current period sales	60	68
Adjustments of prior estimates	1	0
Payments	(47)	(53)
Other, primarily translation adjustment	2	(6)
Ending balance, September 30	212	194
Other current liabilities	84		$ 91
Other non-current liabilities	128		105
Total product warranty liability	$ 212	$ 194	$ 196

DEBT - Schedule of Debt Outstan

DEBT - Schedule of Debt Outstanding (Details)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 EUR (€)	Aug. 16, 2024 USD ($)	Aug. 07, 2024 USD ($)	Dec. 31, 2023 USD ($)
Long-term debt
Total long-term debt	$ 4,533,000,000				$ 3,710,000,000
Less: current portion	338,000,000				3,000,000
Long-term debt, net of current portion	4,195,000,000				3,707,000,000
Notes fair value step-up	11,000,000				24,000,000
Senior Notes | 3.375% Senior notes due 03/15/25 ($334 million par value)
Long-term debt
Long-term debt	$ 334,000,000				384,000,000
Debt instrument stated interest rate	3.375%	3.375%		3.375%
Debt instrument face value	$ 334,000,000			$ 50,000,000
Senior Notes | 5.000% Senior notes due 10/01/25 ($453 million par value)
Long-term debt
Long-term debt	$ 354,000,000				477,000,000
Debt instrument stated interest rate	5%	5%		5%
Debt instrument face value	$ 343,000,000			$ 110,000,000
Senior Notes | 2.650% Senior notes due 07/01/27 ($1,100 million par value)
Long-term debt
Long-term debt	$ 1,095,000,000				1,093,000,000
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 | 4.950% Senior notes due 08/15/29 ($500 million par value)
Long-term debt
Long-term debt	$ 495,000,000				0
Debt instrument stated interest rate	4.95%	4.95%	4.95%
Debt instrument face value	$ 500,000,000		$ 500,000,000
Senior Notes | 1.000% Senior notes due 05/19/31 (€1,000 million par value)
Long-term debt
Long-term debt	$ 1,099,000,000				1,088,000,000
Debt instrument stated interest rate	1%	1%
Debt instrument face value | €		€ 1,000,000,000
Senior Notes | 5.400% Senior notes due 08/15/34 ($500 million par value)
Long-term debt
Long-term debt	$ 493,000,000				0
Debt instrument stated interest rate	5.40%	5.40%	5.40%
Debt instrument face value	$ 500,000,000		$ 500,000,000
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	$ 48,000,000				$ 53,000,000

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 07, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Aug. 16, 2024	Dec. 31, 2023	Oct. 01, 2020	Mar. 13, 2020
Line of Credit Facility [Line Items]
Gain on debt extinguishment			$ 3,000,000	$ 28,000,000	$ 3,000,000	$ 28,000,000
Cash consideration paid on debt extinguishment		$ 430,000,000
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
Cash consideration			4,263,000,000		4,263,000,000			$ 3,304,000,000
Debt, difference between fair value and carrying value			(222,000,000)		(222,000,000)			(353,000,000)
Letters of credit outstanding, amount			30,000,000		30,000,000			37,000,000
Senior Notes
Line of Credit Facility [Line Items]
Extinguishment of debt, amount		438,000,000
4.950% Senior notes due 08/15/29 ($500 million par value) | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument face value			$ 500,000,000		$ 500,000,000		$ 500,000,000
Debt instrument stated interest rate			4.95%		4.95%		4.95%
5.400% Senior notes due 08/15/34 ($500 million par value) | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument face value			$ 500,000,000		$ 500,000,000		$ 500,000,000
Debt instrument stated interest rate			5.40%		5.40%		5.40%
3.375% Senior notes due 03/15/25 ($334 million par value) | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument face value	$ 50,000,000		$ 334,000,000		$ 334,000,000
Debt instrument stated interest rate	3.375%		3.375%		3.375%
Extinguishment of debt, amount		115,000,000
5.000% Senior notes due 10/01/25 ($453 million par value) | Senior Notes
Line of Credit Facility [Line Items]
Debt instrument face value	$ 110,000,000		$ 343,000,000		$ 343,000,000
Debt instrument stated interest rate	5%		5%		5%
Gain on debt extinguishment	$ 3,000,000
Extinguishment of debt, amount		$ 323,000,000
Cash Settlement | Senior Notes
Line of Credit Facility [Line Items]
Gain on debt extinguishment				$ 8,000,000
Short Term Borrowings
Line of Credit Facility [Line Items]
Short-term borrowings			$ 60,000,000		$ 60,000,000			70,000,000
Basis spread on variable rate					1.75%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity									$ 2,000,000,000
Potential additional increase to credit facility										$ 1,000,000,000
Line of credit outstanding			0		$ 0			0
Commercial Paper
Line of Credit Facility [Line Items]
Current borrowing capacity			2,000,000,000		2,000,000,000
Short-term, Unsecured Commercial Paper Notes
Line of Credit Facility [Line Items]
Line of credit outstanding			$ 0		$ 0			$ 0

DEBT - Schedule of Consolidated

DEBT - Schedule of Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Interest expense	$ 24	$ 21	$ 56	$ 57
Gain on debt extinguishment	(3)	(28)	(3)	(28)
Interest income	(17)	(12)	(36)	(26)
Interest expense (income), net	$ 4	$ (19)	$ 17	$ 3

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Other current liabilities:
Payroll and employee related	$ 327	$ 329
Customer related	175	124
Indirect taxes	116	121
Product warranties (Note 12)	84	91
Employee termination benefits (Note 5)	44	61
Income taxes payable	49	103
Operating leases	36	37
Accrued freight	25	26
Supplier related	23	16
Insurance	17	16
Interest	28	26
Contract liabilities (Note 4)	15	18
Dividends payable to noncontrolling stockholders	25	0
Other non-income taxes	14	12
Retirement related	11	11
Deferred engineering	15	13
Other	140	144
Total other current liabilities	1,144	1,148
Other non-current liabilities:
Deferred income taxes	157	160
Other income tax liabilities	121	226
Product warranties (Note 12)	128	105
Operating leases	110	112
Deferred income	95	83
Earn-out liability (Note 3)	8	13
Employee termination benefits (Note 5)	8	7
Other	99	61
Total other non-current liabilities	$ 726	$ 767

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Recurring - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Market Approach
Assets:
Investment in equity securities	$ 26	$ 26
Foreign currency contracts	11	33
Net investment hedge contracts	23	14
Liabilities:
Foreign currency contracts	27	3
Net investment hedge contracts	6	2
Market Approach | Quoted prices in active markets for identical items (Level 1)
Assets:
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	0
Market Approach | Significant other observable inputs (Level 2)
Assets:
Investment in equity securities	0	0
Foreign currency contracts	11	33
Net investment hedge contracts	23	14
Liabilities:
Foreign currency contracts	27	3
Net investment hedge contracts	6	2
Market Approach | Significant unobservable inputs (Level 3)
Assets:
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	0
Market Approach | Assets measured at NAV
Assets:
Investment in equity securities	26	26
Foreign currency contracts	0	0
Net investment hedge contracts	0	0
Liabilities:
Foreign currency contracts	0	0
Net investment hedge contracts	0	0
Income Approach
Assets:
Current earn-out receivable		5
Liabilities:
Current earn-out liability		2
Non-current earn-out liability	8	13
Income Approach | Quoted prices in active markets for identical items (Level 1)
Assets:
Current earn-out receivable		0
Liabilities:
Current earn-out liability		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 liability		0
Non-current earn-out liability	0	0
Income Approach | Significant unobservable inputs (Level 3)
Assets:
Current earn-out receivable		5
Liabilities:
Current earn-out liability		2
Non-current earn-out liability	8	13
Income Approach | Assets measured at NAV
Assets:
Current earn-out receivable		0
Liabilities:
Current earn-out liability		0
Non-current earn-out liability	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Level 3 Earn-out Assets and Liabilities (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Current earn-out receivables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 5	$ 9
Contingent earn-out recognized upon acquisition or disposition		5
Change in fair value of contingent consideration	3	(9)
Earn-out settlements	(8)
Ending balance	0	5
Current earn-out liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2	21
Contingent earn-out recognized upon acquisition or disposition		5
Change in fair value of contingent consideration	(1)	(24)
Earn-out settlements	(1)
Ending balance	0	2
Non-current earn-out liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	13	10
Contingent earn-out recognized upon acquisition or disposition		3
Change in fair value of contingent consideration	(5)	0
Earn-out settlements	0
Ending balance	$ 8	$ 13

FINANCIAL INSTRUMENTS - Schedul

FINANCIAL INSTRUMENTS - Schedule of Foreign Currency Derivative Contract (Details) € in Millions, ฿ in Millions, ¥ in Millions, £ in Millions, $ in Millions	Sep. 30, 2024 GBP (£)	Sep. 30, 2024 CNY (¥)	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 THB (฿)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 GBP (£)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 THB (฿)	Dec. 31, 2023 USD ($)
Euro | Foreign currency
Derivative [Line Items]
Derivative, notional amount | £	£ 80					£ 83
U.S. Dollar
Derivative [Line Items]
Derivative, notional amount					$ 10					$ 10
U.S. Dollar | Foreign currency
Derivative [Line Items]
Derivative, notional amount		¥ 221	€ 172	฿ 31			¥ 209	€ 152	฿ 30
British Pound | Foreign currency
Derivative [Line Items]
Derivative, notional amount | €			0					15
Hungarian Forint | Foreign currency
Derivative [Line Items]
Derivative, notional amount | €			9,291					8,233
Swiss Franc | Foreign currency
Derivative [Line Items]
Derivative, notional amount | €			39					24
Polish Zloty | Foreign currency
Derivative [Line Items]
Derivative, notional amount | €			€ 620					€ 573
Chinese Renminbi | Foreign currency
Derivative [Line Items]
Derivative, notional amount					666					582
Korean Won | Foreign currency
Derivative [Line Items]
Derivative, notional amount					51,548					34,209
Mexican Peso | Foreign currency
Derivative [Line Items]
Derivative, notional amount					4,621					3,280
Thai Baht | Foreign currency
Derivative [Line Items]
Derivative, notional amount					$ 0					$ 2,100

FINANCIAL INSTRUMENTS - Sched_2

FINANCIAL INSTRUMENTS - Schedule of Cross-Currency Swap Contract (Details) - Cross-currency swaps € in Millions, ¥ in Millions, $ in Millions	Sep. 30, 2024 EUR (€)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 JPY (¥)	Apr. 30, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 JPY (¥)
Maturity period July 2027
Derivative [Line Items]
Derivative, notional amount	€ 976	$ 1,100			€ 976	$ 1,100
Maturity Period March 2025
Derivative [Line Items]
Derivative, notional amount	0	0		$ 500	450	500
Maturity Period March 2029
Derivative [Line Items]
Derivative, notional amount	€ 470	500		$ 500	€ 0	0
Maturity period Feb 2029
Derivative [Line Items]
Derivative, notional amount		$ 100	¥ 12,724			$ 100	¥ 12,724

FINANCIAL INSTRUMENTS - Narrati

FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions	1 Months Ended	9 Months Ended
	Apr. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)
Derivative [Line Items]
Proceeds from settlement of net investment hedges, net		$ 46	$ 25
1.000% Senior notes due 05/19/31 (€1,000 million par value) | Senior Notes
Derivative [Line Items]
Debt instrument face value | €				€ 1,000,000,000
Debt instrument stated interest rate		1%		1%
Cross-currency swaps | Maturity Period March 2025
Derivative [Line Items]
Derivative, notional amount	$ 500	$ 0		€ 0	$ 500	€ 450,000,000
Proceeds from settlement of net investment hedges, net	23
Cross-currency swaps | Maturity Period March 2029
Derivative [Line Items]
Derivative, notional amount	$ 500	$ 500		€ 470,000,000	$ 0	€ 0

FINANCIAL INSTRUMENTS - Sched_3

FINANCIAL INSTRUMENTS - Schedule of Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Designated as Hedging Instrument | Foreign currency | Prepayments and other current assets
Derivatives, Fair Value
Derivative assets	$ 9	$ 30
Designated as Hedging Instrument | Foreign currency | Other current liabilities
Derivatives, Fair Value
Derivative liability	20	2
Designated as Hedging Instrument | Foreign currency | Other non-current assets
Derivatives, Fair Value
Derivative assets	1	1
Designated as Hedging Instrument | Foreign currency | Other non-current liabilities
Derivatives, Fair Value
Derivative liability	6	0
Designated as Hedging Instrument | Cross-currency swaps | Other non-current assets | Net Investment Hedging
Derivatives, Fair Value
Derivative assets	23	14
Designated as Hedging Instrument | Cross-currency swaps | Other non-current liabilities | Net Investment Hedging
Derivatives, Fair Value
Derivative liability	6	2
Not Designated as Hedging Instrument | Foreign currency | Prepayments and other current assets
Derivatives, Fair Value
Derivative assets	1	2
Not Designated as Hedging Instrument | Foreign currency | Other current liabilities
Derivatives, Fair Value
Derivative liability	$ 1	$ 1

FINANCIAL INSTRUMENTS - Sched_4

FINANCIAL INSTRUMENTS - Schedule of AOCI (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value
Accumulated other comprehensive income (loss), cumulative changes in net gain (loss) from hedges, before tax	$ 107	$ 112
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	17	12
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	90	$ 100
Gain (loss) expected to be reclassified to income in one year or less	$ 0

FINANCIAL INSTRUMENTS - Sched_5

FINANCIAL INSTRUMENTS - Schedule of Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss)
Net sales	$ 3,449	$ 3,622	$ 10,647	$ 10,676
Cost of sales	2,813	2,970	8,682	8,767
Selling, general and administrative expenses	340	330	1,010	963
Other comprehensive income	130	(17)	20	(39)
Gain (loss) recognized in other comprehensive income	23	1	19	49
Foreign currency | Cash flow hedging | Gain (loss) reclassified from AOCI to income
Derivative Instruments, Gain (Loss)
Net sales	1	0	1	0
Cost of sales	4	0	26	0
Selling, general and administrative expenses	$ 0	$ 12	$ 0	$ 22

FINANCIAL INSTRUMENTS - Sched_6

FINANCIAL INSTRUMENTS - Schedule of Other Comprehensive Income (Loss) (Details) - Net Investment Hedging - Other comprehensive income (loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign currency
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	$ 0	$ 0	$ 0	$ 0
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	(33)	40	5	11
Foreign currency-denominated debt
Derivative Instruments, Gain (Loss)
Gains and (losses) on derivative instruments	$ (42)	$ 34	$ (10)	$ 13

FINANCIAL INSTRUMENTS - Sched_7

FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cross-currency swaps
Derivative Instruments, Gain (Loss)
Net investment hedges	$ 6	$ 6	$ 17	$ 19

FINANCIAL INSTRUMENTS - Sched_8

FINANCIAL INSTRUMENTS - Schedule of Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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	$ 1	$ 4	$ 1	$ (14)

RETIREMENT BENEFIT PLANS - Narr

RETIREMENT BENEFIT PLANS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Actual contribution to defined benefit pension plans	$ 16
Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions, current fiscal year	20
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions, current fiscal year	$ 30

RETIREMENT BENEFIT PLANS - Sche

RETIREMENT BENEFIT PLANS - Schedule of Net Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension benefits | US
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	2	2	5	5
Expected return on plan assets	(1)	(1)	(4)	(4)
Amortization of unrecognized prior service credit	(1)	0	(1)	0
Amortization of unrecognized loss	0	1	2	2
Net periodic benefit cost	0	2	2	3
Pension benefits | Non-US
Defined Benefit Plan Disclosure [Line Items]
Service cost	2	4	9	11
Interest cost	5	26	15	37
Expected return on plan assets	(3)	(25)	(11)	(33)
Amortization of unrecognized prior service credit	0	0	0	0
Amortization of unrecognized loss	2	1	4	2
Net periodic benefit cost	6	6	17	17
Other postemployment benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	0	0	1	1
Expected return on plan assets	0	0	0	0
Amortization of unrecognized prior service credit	0	(1)	(1)	(2)
Amortization of unrecognized loss	0	0	0	0
Net periodic benefit cost	$ 0	$ (1)	$ 0	$ (1)

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 6,066
Net earnings	$ 249	$ 68	787	$ 520
Other comprehensive income (loss)	390	$ 47	810	$ 463
Ending balance	$ 6,352		$ 6,352
Dividends declared (in dollar per share)	$ 0.11	$ 0.11	$ 0.22	$ 0.45
Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 6,285	$ 7,781	$ 6,066	$ 7,508
Dividends declared	(46)	(31)	(163)	(168)
Issuance for executive stock plan, net of tax	8	10	7	15
Issuance of restricted stock, net of tax	9	10	17	14
Purchase of treasury stock	(304)		(404)
Net earnings	249	68	787	520
Purchase of noncontrolling interest				(15)
Other comprehensive income (loss)	141	(5)	23	(41)
Spin-Off of PHINIA	10	(1,826)	19	(1,826)
Ending balance	6,352	6,007	6,352	6,007
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	2,645	2,657	2,689	2,675
Issuance for executive stock plan, net of tax	8	10	(14)	10
Issuance of restricted stock, net of tax	4	13	(18)	(3)
Purchase of noncontrolling interest				(2)
Ending balance	2,657	2,680	2,657	2,680
Treasury stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(2,237)	(2,007)	(2,188)	(2,032)
Issuance for executive stock plan, net of tax			21	5
Issuance of restricted stock, net of tax	5	(3)	35	17
Purchase of treasury stock	(304)		(404)
Ending balance	(2,536)	(2,010)	(2,536)	(2,010)
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	6,620	7,796	6,152	7,454
Dividends declared	(24)	(26)	(74)	(105)
Net earnings	234	50	743	471
Spin-Off of PHINIA	10	(1,810)	19	(1,810)
Ending balance	6,840	6,010	6,840	6,010
Accumulated other comprehensive income (loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(938)	(898)	(828)	(876)
Other comprehensive income (loss)	130	(1)	20	(23)
Spin-Off of PHINIA		(16)		(16)
Ending balance	(808)	(915)	(808)	(915)
Noncontrolling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	192	230	238	284
Dividends declared	(22)	(5)	(89)	(63)
Net earnings	15	18	44	49
Purchase of noncontrolling interest				(13)
Other comprehensive income (loss)	11	(4)	3	(18)
Ending balance	$ 196	$ 239	$ 196	$ 239

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 6,066
Comprehensive income (loss) before reclassifications	$ 119	$ 23	55	$ (1)
Income taxes associated with comprehensive income (loss) before reclassifications	19	(12)	(3)	(1)
Reclassification from accumulated other comprehensive (loss) income	(6)	(11)	(31)	(20)
Income taxes associated with comprehensive income (loss) reclassified into net earnings	(13)	(133)	(44)	(230)
Spin-Off of PHINIA		(16)		(16)
Ending balance	6,352		6,352
Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes associated with comprehensive income (loss) reclassified into net earnings	(2)	(1)	(1)	(1)
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(938)	(898)	(828)	(876)
Ending balance	(808)	(915)	(808)	(915)
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(816)	(806)	(719)	(750)
Comprehensive income (loss) before reclassifications	143	17	67	(51)
Income taxes associated with comprehensive income (loss) before reclassifications	16	(13)	(5)	(1)
Reclassification from accumulated other comprehensive (loss) income	0	0	0	0
Spin-Off of PHINIA		(20)		(20)
Ending balance	(657)	(822)	(657)	(822)
Foreign currency translation adjustments | Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes associated with comprehensive income (loss) reclassified into net earnings	0	0	0	0
Hedge instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	10	42	28	4
Comprehensive income (loss) before reclassifications	(23)	1	(19)	49
Income taxes associated with comprehensive income (loss) before reclassifications	0	0	0	0
Reclassification from accumulated other comprehensive (loss) income	(5)	(12)	(27)	(22)
Spin-Off of PHINIA		(1)		(1)
Ending balance	(18)	30	(18)	30
Hedge instruments | Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes associated with comprehensive income (loss) reclassified into net earnings	0	0	0	0
Defined benefit retirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(132)	(134)	(137)	(130)
Comprehensive income (loss) before reclassifications	(1)	5	7	1
Income taxes associated with comprehensive income (loss) before reclassifications	3	1	2	0
Reclassification from accumulated other comprehensive (loss) income	(1)	1	(4)	2
Spin-Off of PHINIA		5		5
Ending balance	(133)	(123)	(133)	(123)
Defined benefit retirement plans | Gain (loss) reclassified from AOCI to income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Income taxes associated with comprehensive income (loss) reclassified into net earnings	$ (2)	$ (1)	$ (1)	$ (1)

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Millions		9 Months Ended	12 Months Ended
	Sep. 19, 2024 USD ($)	Sep. 30, 2024 USD ($) site	Dec. 31, 2023 USD ($) site
Commitments and Contingencies Disclosure [Abstract]
Damages sought | $	$ 120
Waste disposal sites		17	17
Accrual for environmental loss contingencies | $		$ 5	$ 6
Number of sites with accrual		4
Completed or near completed clean up activities		13

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Performance Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1	0.8	0.9	0.7

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic earnings per share:
Net earnings from continuing operations	$ 242	$ 87	$ 770	$ 483
Weighted average shares of common stock outstanding (in shares)	223.1	233.4	225.7	233.2
Basic earnings per share of common stock (in dollars per share)	$ 1.08	$ 0.37	$ 3.41	$ 2.07
Diluted earnings per share:
Net earnings from continuing operations	$ 242	$ 87	$ 770	$ 483
Weighted average shares of common stock outstanding (in shares)	223.1	233.4	225.7	233.2
Effect of stock-based compensation (in shares)	1.4	1.9	1.1	1.4
Weighted average shares of common stock outstanding including dilutive shares (in shares)	224.5	235.3	226.8	234.6
Diluted earnings per share of common stock (in dollars per share)	$ 1.08	$ 0.37	$ 3.40	$ 2.06

REPORTABLE SEGMENTS - Narrative

REPORTABLE SEGMENTS - Narrative (Details) - segment	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting [Abstract]
Number of reportable segments (segments)	4	4	3

REPORTABLE SEGMENTS - Schedule

REPORTABLE SEGMENTS - Schedule of Net sales and total assets by reporting segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information
Net sales	$ 3,449	$ 3,622	$ 10,647	$ 10,676
Total assets	15,137		15,137		$ 14,453
Customers
Segment Reporting Information
Net sales	3,449	3,622	10,647	10,676
Inter-segment
Segment Reporting Information
Net sales	0	0	0	0
Operating segments
Segment Reporting Information
Total assets	12,841		12,841		12,720
Inter-segment eliminations
Segment Reporting Information
Net sales	(11)	(18)	(33)	(59)
Inter-segment eliminations | Customers
Segment Reporting Information
Net sales	0	0	0	0
Inter-segment eliminations | Inter-segment
Segment Reporting Information
Net sales	(11)	(18)	(33)	(59)
Corporate
Segment Reporting Information
Total assets	2,296		2,296		1,733
Turbos & Thermal Technologies
Segment Reporting Information
Net sales	1,385	1,473	4,472	4,567
Turbos & Thermal Technologies | Operating segments
Segment Reporting Information
Net sales	1,386	1,474	4,475	4,570
Total assets	4,007		4,007		3,938
Turbos & Thermal Technologies | Operating segments | Customers
Segment Reporting Information
Net sales	1,385	1,473	4,472	4,567
Turbos & Thermal Technologies | Operating segments | Inter-segment
Segment Reporting Information
Net sales	1	1	3	3
Drivetrain & Morse Systems
Segment Reporting Information
Net sales	1,362	1,447	4,218	4,142
Drivetrain & Morse Systems | Operating segments
Segment Reporting Information
Net sales	1,365	1,449	4,226	4,146
Total assets	4,128		4,128		4,262
Drivetrain & Morse Systems | Operating segments | Customers
Segment Reporting Information
Net sales	1,362	1,447	4,218	4,142
Drivetrain & Morse Systems | Operating segments | Inter-segment
Segment Reporting Information
Net sales	3	2	8	4
PowerDrive Systems
Segment Reporting Information
Net sales	505	556	1,390	1,572
PowerDrive Systems | Operating segments
Segment Reporting Information
Net sales	512	571	1,412	1,624
Total assets	3,326		3,326		3,185
PowerDrive Systems | Operating segments | Customers
Segment Reporting Information
Net sales	505	556	1,390	1,572
PowerDrive Systems | Operating segments | Inter-segment
Segment Reporting Information
Net sales	7	15	22	52
Battery & Charging Systems
Segment Reporting Information
Net sales	197	146	567	395
Battery & Charging Systems | Operating segments
Segment Reporting Information
Net sales	197	146	567	395
Total assets	1,380		1,380		$ 1,335
Battery & Charging Systems | Operating segments | Customers
Segment Reporting Information
Net sales	197	146	567	395
Battery & Charging Systems | Operating segments | Inter-segment
Segment Reporting Information
Net sales	$ 0	$ 0	$ 0	$ 0

REPORTABLE SEGMENTS - Schedul_2

REPORTABLE SEGMENTS - Schedule of Earnings before interest and income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information
Segment Adjusted Operating Income	$ 426	$ 421	$ 1,261	$ 1,210
Corporate, including stock-based compensation	76	72	196	194
Restructuring expense (Note 5)	21	56	65	68
Intangible asset amortization expense	17	17	51	51
Accelerated depreciation	27	1	35	4
Commercial contract settlement	0	0	15	0
Adjustments associated with Spin-Off related balances	3	0	14	0
Asset impairment and lease modification	0	2	0	11
Collective bargaining agreement ratification bonus	4	0	4	0
Merger and acquisition expense, net	(5)	2	0	18
Loss (gain) on sale of businesses	6	0	3	(5)
Gain on sale of assets	0	(7)	0	(13)
Other non-comparable items	7	6	16	3
Equity in affiliates’ earnings, net of tax	(6)	(10)	(23)	(23)
Unrealized and realized (gain) loss on equity and debt securities	(2)	60	0	129
Interest expense (income), net	4	(19)	17
Other postretirement expense	4	3	10	8
Earnings from continuing operations before income taxes and noncontrolling interest	270	238	858	762
Turbos & Thermal Technologies
Segment Reporting Information
Segment Adjusted Operating Income	202	214	654	660
Drivetrain & Morse Systems
Segment Reporting Information
Segment Adjusted Operating Income	251	253	770	700
PowerDrive Systems
Segment Reporting Information
Segment Adjusted Operating Income	(19)	(20)	(130)	(74)
Battery & Charging Systems
Segment Reporting Information
Segment Adjusted Operating Income	$ (8)	$ (26)	$ (33)	$ (76)

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Net earnings	$ 249	$ 68	$ 787	$ 520
Net loss from discontinued operations	(8)	(37)	(27)	(12)
Net earnings from continuing operations	257	105	814	532
Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations:
Depreciation and tooling amortization			444	376
Intangible asset amortization	17	17	51	51
Restructuring expense, net of cash paid			8	61
Stock-based compensation expense			46	50
Gain on debt extinguishment	(3)	(28)	(3)	(28)
Loss (gain) on sale of businesses			3	(5)
Deferred income tax (benefit) expense			(79)	19
Unrealized and realized (gain) loss on equity and debt securities	$ (2)	$ 60	0	129
Other non-cash adjustments			2	(80)
Adjustments to reconcile net earnings from continuing operations to net cash provided by operating activities from continuing operations			472	573
Retirement plan contributions			(16)	(13)
Changes in assets and liabilities, excluding effects of acquisitions, divestitures and foreign currency translation adjustments:
Receivables			(83)	(767)
Inventories			(54)	(126)
Prepayments and other current assets			(25)	(16)
Accounts payable and accrued expenses			(307)	301
Prepaid taxes and income taxes payable			(58)	(44)
Other assets and liabilities			(43)	70
Net cash provided by operating activities from continuing operations			700	510
Cash paid during the period for:
Interest			96	105
Income taxes, net of refunds			268	$ 284
Non-cash investing transactions:
Period end accounts payable related to property, plant and equipment purchases			$ 106		$ 124

DISCONTINUED OPERATIONS - Sched

DISCONTINUED OPERATIONS - Schedule of Financial Results from Discontinued Operations (Details) - Phinia - Discontinued operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 1,723
Cost of sales	0	0	0	1,362
Gross profit	0	0	0	361
Selling, general and administrative expenses	0	0	0	173
Restructuring expense	0	0	0	7
Other operating expense, net	4	52		117
Operating (loss) income	(4)	(52)	(28)	64
Equity in affiliates’ earnings, net of tax	0	0	0	(5)
(Loss) earnings from discontinued operations before income taxes	(4)	(52)	(28)	69
Provision (benefit) for income taxes	4	(15)	(1)	81
Net loss from discontinued operations attributable to PHINIA	$ (8)	$ (37)	$ (27)	$ (12)

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - Phinia - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
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	$ (4)	$ (52)		$ (117)
Services | Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, services			2
Other operating expense, net	$ 4	$ 52	$ 28	$ 117

OTHER MATTERS (Details)

OTHER MATTERS (Details) $ in Millions	Sep. 26, 2024 USD ($)
Unusual or Infrequent Items, or Both [Abstract]
Expected loss on asset (less than)	$ 10