v3.26.3
Segment Reporting and Revenue (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Net sales$2,450 $2,286 $7,106 $6,516 
Less:
Cost of sales2,120 1,990 6,211 5,708 
Selling, general and administrative112 104 309 313 
Other segment items (1)
106 79 277 174 
Net income$112 $113 $309 $321 
(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 nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in USD millions)
Income tax expense(35)(54)(72)(104)
Equity income, net— 3 9 11 
Amortization— — (1)(1)
Other expense, net(2)— (9)(1)
Interest expense (36)— (77)(3)
Separation costs (11)(7)(59)(14)
Restructuring(22)(21)(68)(62)
Depreciation and amortization (1)(55)(55)(167)(166)
Capital expenditures(55)(44)(172)(123)
(1)Segment depreciation and amortization is included within cost of sales, selling, general and administrative expense and amortization expense disclosed.

Included below is balance sheet data as of September 30, 2026 and December 31, 2025:
September 30, 2026December 31, 2025
(in USD millions)
Investments in affiliates 146 143 
Segment assets 5,527 4,485 
Schedule of Revenue by Product Line
Revenue by product line for the three and nine months ended September 30, 2026 and 2025 is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Low-Voltage Electrical Architecture$2,208 $2,041 $6,435 $5,786 
High-Voltage Electrical Architecture242 245 671 730 
Total net sales$2,450 $2,286 $7,106 $6,516 
Schedule of Revenue by Geographic Region
Net sales reflects the manufacturing location and is for the three and nine months ended September 30, 2026 and 2025.
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Geographic Markets:
North America $1,027 $965 $2,946 $2,708 
Europe, Middle East & Africa 471 501 1,504 1,569 
Asia Pacific
868 734 2,432 2,037 
South America 84 86 224 202 
Total net sales$2,450 $2,286 $7,106 $6,516