OTHER OPERATING (INCOME) EXPENSE, NET |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER OPERATING EXPENSE, NET | OTHER OPERATING (INCOME) EXPENSE, NET Items included in Other operating (income) expense, net consist of:
Transaction-related (benefits) costs: The Company classifies certain expenses and benefits related to the Spin-Off, acquisitions and divestitures as transaction-related (benefits) costs. Spin-Off costs and adjustments include professional fees and other costs associated with the separation of the Company, including the adjustment of certain historical liabilities allocated to the Company in connection with the Spin-Off, and indemnities related to the Tax Matters Agreement between the Company and Former Parent. During the three and six months ended June 30, 2025, the Company recorded transaction-related benefits of $4 million and $5 million, respectively, which includes an $11 million and $18 million benefit related to indemnities under the Tax Matters Agreement during the three and six months ended June 30, 2025, respectively; $5 million and $8 million of costs related to the Spin-Off during the three and six months ended June 30, 2025, respectively; and $2 million and $5 million of costs related to the evaluation of strategic acquisition initiatives during the three and six months ended June 30, 2025, respectively, as further discussed below. During the three and six months ended June 30, 2024, the Company recorded transaction-related costs of $3 million and $20 million, respectively, which primarily related to Spin-Off costs. On June 10, 2025, the Company announced that it entered into a definitive agreement to acquire all of the issued and outstanding shares of Swedish Electromagnet Invest AB (SEM), a prominent provider of advanced natural gas, hydrogen and other alternative fuel ignition systems, injector stators and linear position sensors for approximately $47 million. The transaction is expected to close in the third quarter of 2025. Restructuring: The Company recorded $2 million and $7 million in the three and six months ended June 30, 2025, respectively, and $3 million and $5 million in the three and six months ended June 30, 2024, respectively, of restructuring costs for individually approved restructuring actions that primarily related to reductions in headcount in the Fuel Systems segment.
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