v3.25.2
Revenue from Contracts with Customers (Notes)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block]
11. REVENUE FROM CONTRACTS WITH CUSTOMERS

Net sales recognized from contracts with customers, disaggregated by segment and geographical location, are presented in the following table for the three and six months ended June 30, 2025 and 2024. Net sales are attributed to regions based on the location of production. Intersegment sales have been excluded from the table.

Three Months Ended June 30, 2025
(in millions)
DrivelineMetal FormingTotal
North America$822.7 $317.8 $1,140.5 
Asia142.9 2.7 145.6 
Europe88.6 111.5 200.1 
South America27.1 22.9 50.0 
Total$1,081.3 $454.9 $1,536.2 
Three Months Ended June 30, 2024
(in millions)
DrivelineMetal FormingTotal
North America$849.2 $357.7 $1,206.9 
Asia143.9 5.2 149.1 
Europe110.5 123.1 233.6 
South America20.7 22.0 42.7 
Total$1,124.3 $508.0 $1,632.3 
Six Months Ended June 30, 2025
(in millions)
DrivelineMetal FormingTotal
North America$1,537.2 $636.3 $2,173.5 
Asia280.6 6.1 286.7 
Europe172.5 222.7 395.2 
South America48.2 43.9 92.1 
Total$2,038.5 $909.0 $2,947.5 
Six Months Ended June 30, 2024
(in millions)
DrivelineMetal FormingTotal
North America$1,677.2 $703.6 $2,380.8 
Asia286.6 13.2 299.8 
Europe232.0 247.4 479.4 
South America34.9 44.3 79.2 
Total$2,230.7 $1,008.5 $3,239.2 
Contract Assets and Liabilities

The following table summarizes our beginning and ending balances for accounts receivable and contract liabilities associated with our contracts with customers (in millions):
Accounts Receivable, NetContract Liabilities (Current)Contract Liabilities (Long-term)
December 31, 2024$709.1 $14.2 $37.0 
June 30, 2025844.5 27.4 38.4 
Increase/(decrease)$135.4 $13.2 $1.4 
Contract liabilities relate to deferred revenue associated with various settlements and commercial agreements for which we have a future performance obligation to the customer. We recognize this deferred revenue into revenue over the life of the associated program as we satisfy our performance obligations to the customer. We do not have contract assets as defined in ASC 606. We amortized previously recorded contract liabilities into revenue as we satisfied performance obligations with our customers of approximately $10.9 million and $8.1 million for the six months ended June 30, 2025 and 2024, respectively.