v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Operating Results and Capital Expenditures by Reportable Segments
The operating results of the Company’s reportable segments were as follows:
Engine ProductsFastening SystemsEngineered StructuresForged WheelsTotal
Segment
Third quarter ended September 30, 2026
Sales:
Third-party sales$1,451 $630 $295 $327 $2,703 
Inter-segment sales2 — 13 — 15 
Total sales$1,453 $630 $308 $327 $2,718 
Expenses:
Segment Adjusted cost of goods sold(1)
$855 $403 $229 $230 $1,717 
Other segment items(2)
31 42 9 11 93 
Profit and loss:
Segment Adjusted EBITDA$567 $185 $70 $86 $908 
Provision for depreciation and amortization41 29 10 11 91 
Restructuring and other credits1 2 (1)— 2 
Other:
Capital expenditures$95 $19 $14 $14 $142 
Third quarter ended September 30, 2025
Sales:
Third-party sales$1,087 $448 $307 $247 $2,089 
Inter-segment sales2 — 7 — 9 
Total sales$1,089 $448 $314 $247 $2,098 
Expenses:
Segment Adjusted cost of goods sold(1)
$698 $280 $241 $162 $1,381 
Other segment items(2)
29 30 9 12 80 
Profit and loss:
Segment Adjusted EBITDA$362 $138 $64 $73 $637 
Provision for depreciation and amortization37 12 10 11 70 
Other:
Capital expenditures$73 $13 $10 $9 $105 
Engine ProductsFastening SystemsEngineered StructuresForged WheelsTotal
Segment
Nine months ended September 30, 2026
Sales:
Third-party sales$4,077 $1,690 $858 $938 $7,563 
Inter-segment sales7 — 29 — 36 
Total sales$4,084 $1,690 $887 $938 $7,599 
Expenses:
Segment Adjusted cost of goods sold(1)
$2,451 $1,065 $659 $641 $4,816 
Other segment items(2)
91 113 28 33 265 
Profit and loss:
Segment Adjusted EBITDA$1,542 $512 $200 $264 $2,518 
Provision for depreciation and amortization121 62 31 32 246 
Restructuring and other credits1 2 (94)— (91)
Other:
Capital expenditures$231 $47 $34 $21 $333 
Total assets5,942 4,745 1,268 756 12,711 
Nine months ended September 30, 2025
Sales:
Third-party sales$3,099 $1,291 $919 $775 $6,084 
Inter-segment sales7 — 22 — 29 
Total sales$3,106 $1,291 $941 $775 $6,113 
Expenses:
Segment Adjusted cost of goods sold(1)
$2,002 $812 $716 $525 $4,055 
Other segment items(2)
81 88 26 33 228 
Profit and loss:
Segment Adjusted EBITDA$1,023 $391 $199 $217 $1,830 
Provision for depreciation and amortization105 36 33 31 205 
Restructuring and other charges (credits)— 1 (4)(1)(4)
Other:
Capital expenditures$232 $32 $23 $32 $319 
Total assets5,512 2,782 1,446 733 $10,473 
(1)Segment Adjusted cost of goods sold is exclusive of Provision for depreciation and amortization, Restructuring and other credits, and Corporate expenses.
(2)Other segment items includes Selling, general administrative, and other expenses, and Research and development expenses; exclusive of Provision for depreciation and amortization, and Restructuring and credits.
The following table reconciles total segment capital expenditures with Capital expenditures as presented in the Statement of Consolidated Cash Flows.
Third quarter endedNine months ended
September 30,September 30,
2026202520262025
Total segment capital expenditures$142 $105 $333 $319 
Corporate5 3 12 10 
Capital expenditures$147 $108 $345 $329 
Schedule of Reconciliation of Total Segment Operating Profit to Income Before Income Taxes
The following table reconciles Total Segment Adjusted EBITDA to Income before income taxes. Differences between the total segment and consolidated totals are in Corporate.
Third quarter endedNine months ended
September 30,September 30,
2026202520262025
Total Segment Adjusted EBITDA$908 $637 $2,518 $1,830 
Segment provision for depreciation and amortization(91)(70)(246)(205)
Unallocated amounts:
Restructuring and other credits(2)— 91 4 
Corporate expense(1)
(38)(25)(122)(72)
Operating income$777 $542 $2,241 $1,557 
Interest expense, net(48)(37)(142)(114)
Other expense, net(8)(10)(21)(33)
Income before income taxes$721 $495 $2,078 $1,410 
(1)    Corporate expense includes selling, general administrative and other expenses, costs of corporate headquarters, acquisition and acquisition-related costs, costs associated with closures, supply chain disruptions, and other items.
Schedule of Disaggregation of Revenue by Major End Market Served
The following table disaggregates segment revenue by major market served. Differences between the total segment and consolidated totals are in Corporate.
Engine ProductsFastening SystemsEngineered StructuresForged WheelsTotal
Segment
Third quarter ended September 30, 2026
Aerospace - Commercial$824 $439 $196 $— $1,459 
Aerospace - Defense 239 73 79 — 391 
Commercial Transportation— 57 — 327 384 
Gas Turbines348 1 — — 349 
Other40 60 20 — 120 
Total end-market revenue$1,451 $630 $295 $327 $2,703 
Third quarter ended September 30, 2025
Aerospace - Commercial$591 $310 $208 $— $1,109 
Aerospace - Defense 229 44 84 — 357 
Commercial Transportation— 54 — 247 301 
Gas Turbines241 — — — 241 
Other26 40 15 — 81 
Total end-market revenue$1,087 $448 $307 $247 $2,089 
Nine months ended September 30, 2026
Aerospace - Commercial$2,296 $1,173 $564 $— $4,033 
Aerospace - Defense 727 188 231 — 1,146 
Commercial Transportation— 164 — 938 1,102 
Gas Turbines953 1 — — 954 
Other101 164 63 — 328 
Total end-market revenue$4,077 $1,690 $858 $938 $7,563 
Nine months ended September 30, 2025
Aerospace - Commercial$1,688 $882 $615 $— $3,185 
Aerospace - Defense 654 130 258 — 1,042 
Commercial Transportation— 163 — 775 938 
Gas Turbines678 — — — 678 
Other79 116 46 — 241 
Total end-market revenue$3,099 $1,291 $919 $775 $6,084