v3.26.1
Segment Reporting and Revenue (Tables)
 3 Months Ended
Mar. 31, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Segment Reporting Information, by Segment
Included below are segment sales, significant expenses and operating data for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
(in millions)
Net sales$2,212 $2,024 
Less:
Cost of sales1,968 1,775 
Selling, general and administrative97 105 
Other segment items (1)
66 48 
Net income$81 $96 
(1)Other segment items primarily include amortization, restructuring, separation costs, interest expense, other expense, net, income tax benefit (expense) and equity income, net.
Included below is additional segment information for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
(in millions)
Income tax benefit (expense)$9 $(29)
Equity income, net$4 $5 
Amortization$(1)$— 
Other expense, net$(1)$(1)
Interest expense $(5)$(2)
Separation costs $(26)$(5)
Restructuring$(46)$(16)
Depreciation and amortization (1)$(61)$(52)
Capital expenditures$(66)$(37)
(1)Segment depreciation and amortization disclosed is included within segment cost of sales, selling, general and administrative expense and amortization expense disclosed.

Included below is balance sheet data as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
Investment in affiliates $142 $143 
Segment assets $4,909 $4,485 
Schedule of Revenue by Product Line
Revenue by product line for the three months ended March 31, 2026 and 2025 is as follows:
Three Months Ended March 31,
 20262025
 (in millions)
High Voltage Electrical Architecture$208 $224 
Low Voltage Electrical Architecture2,004 1,800 
Total net sales$2,212 $2,024 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Net sales reflects the manufacturing location and is for the three months ended March 31, 2026 and 2025.
Three Months Ended March 31,
20262025
(in millions)
Geographic Markets
North America $897 $822 
Europe, Middle East & Africa 509 513 
Asia Pacific
739 636 
South America 67 53 
Total net sales$2,212 $2,024