OTHER OPERATING EXPENSE, NET |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER OPERATING EXPENSE, NET | OTHER OPERATING EXPENSE, NET Items included in Other operating expense, net consist of:
Legal settlement: During the three and nine months ended September 30, 2025, the Company recorded a charge of $38 million, related to a legal settlement, inclusive of associated legal fees. Refer to Note 20, “Contingencies,” to the Condensed Consolidated Financial Statements for more information. Costs to exit charging business: During the nine months ended September 30, 2025, the Company recorded charges of $23 million related to the exit of its charging business within the Battery & Charging Systems reportable segment. Refer to Note 3, “Acquisitions and Dispositions,” and Note 11, “Goodwill And Other Intangibles,” to the Condensed Consolidated Financial Statements for more information. Chief Executive Officer ("CEO") transition compensation: During the three and nine months ended September 30, 2025, the Company recorded charges of $5 million and $11 million, respectively, related to duplicative compensation. Adjustments associated with Spin-Off related balances: During the three and nine months ended September 30, 2025, the Company recorded expense of $8 million and $7 million, respectively, primarily for adjustments related to the contract manufacturing agreement with PHINIA and adjustments to net amounts owed to the Company related to the tax matters agreement between the Company and PHINIA, unrelated to the legal settlement discussed above. 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. Loss on sale of assets: During the three and nine months ended September 30, 2025, the Company recorded a loss of $1 million and $6 million, respectively, related to the sale of equipment from a closed facility in North America. Merger and acquisition expense, net: During the three and nine months ended September 30, 2025, the Company recorded merger and acquisition expense, net of $2 million and net of $4 million, respectively, primarily related to professional fees associated with specific acquisition initiatives. 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 $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. Loss on sale of businesses: During the three and nine months ended September 30, 2025, the Company recorded a net loss of $1 million and $2 million, respectively, related to a business closure in North America, plant disposal in China and the sale of an operation in Europe. 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, related to the estimated loss on an immaterial business that met held for sale accounting criteria. Collective bargaining agreement ratification bonus: During the three 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 the State of New York. 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 2023 acquisition of the electric hybrid systems business segment of Eldor Corporation.
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