OTHER OPERATING (INCOME) EXPENSE, NET |
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER OPERATING (INCOME) EXPENSE, NET | OTHER OPERATING (INCOME) EXPENSE, NET Items included in Other operating expense, net consist of:
Adjustments associated with Spin-Off related balances: During the three and six months ended June 30, 2026, the Company recorded income of $1 million and expense of $1 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. During the three and six months ended June 30, 2025, the Company recorded expense of $2 million and income of $1 million, respectively, primarily for adjustments to net amounts owed to the Company related to the tax matters agreement between the Company and PHINIA. Merger and acquisition expense, net: During the six months ended June 30, 2026, the Company recorded merger and acquisition income of $2 million, primarily related to a revision of the Company’s expected earn-out related to the Drivetek acquisition. Refer to Note 3, “Acquisitions and Dispositions,” to the Condensed Consolidated Financial Statements for more information. During the six months ended June 30, 2025, the Company recorded merger and acquisition expense, net of $2 million, primarily related to professional fees associated with specific acquisition initiatives. Costs to exit charging business: During the three and six months ended June 30, 2025, the Company recorded charges of $4 million and $23 million, respectively, related to the exit of its charging business within its Battery Energy 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 six months ended June 30, 2025, the Company recorded charges of $6 million related to duplicative compensation. Loss on sale of assets: During the three and six months ended June 30, 2025, the Company recorded a loss of $5 million related to the sale of equipment from a closed facility in North America.
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