v3.26.1
Segment Reporting and Revenue (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Segment Reporting
Included below are segment net sales, significant expenses and operating data for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Net sales$2,444 $2,206 $4,656 $4,230 
Less:
Cost of sales2,123 1,943 4,091 3,718 
Selling, general and administrative100 104 197 209 
Other segment items (1)
105 47 171 95 
Net income$116 $112 $197 $208 
(1)Other segment items primarily include amortization, restructuring, separation costs, interest expense, other expense, net, income tax expense and equity income, net.
Included below is additional segment information for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Income tax expense$(46)$(21)$(37)$(50)
Equity income, net$5 $3 $9 $8 
Amortization$— $(1)$(1)$(1)
Other expense, net$(6)$— $(7)$(1)
Interest expense $(36)$(1)$(41)$(3)
Separation costs $(22)$(2)$(48)$(7)
Restructuring$— $(25)$(46)$(41)
Depreciation and amortization (1)$(51)$(59)$(112)$(111)
Capital expenditures$(51)$(42)$(117)$(79)
(1)Segment depreciation and amortization is included within segment cost of sales, selling, general and administrative expense and amortization expense disclosed.

Included below is balance sheet data as of June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(in millions)
Investments in affiliates $149 $143 
Segment assets $5,359 $4,485 
Schedule of Revenue by Product Line
Revenue by product line for the three and six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Low Voltage Electrical Architecture2,222 1,945 4,227 3,745 
High Voltage Electrical Architecture$222 $261 $429 $485 
Total net sales$2,444 $2,206 $4,656 $4,230 
Schedule of Revenue by Geographic Region
Net sales reflects the manufacturing location and is for the three and six months ended June 30, 2026 and 2025.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in millions)
Geographic Markets
North America $1,022 $921 $1,919 $1,743 
Europe, Middle East & Africa 524 555 1,033 1,068 
Asia Pacific
825 667 1,564 1,303 
South America 73 63 140 116 
Total net sales$2,444 $2,206 $4,656 $4,230