Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 31, 2020 | Jun. 28, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 1-1063 | ||
Entity Registrant Name | Dana Inc | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 26-1531856 | ||
Entity Address, Address Line One | 3939 Technology Drive, | ||
Entity Address, City or Town | Maumee, | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 43537 | ||
City Area Code | 419 | ||
Local Phone Number | 887-3000 | ||
Title of 12(b) Security | Common stock, par value $0.01 per share | ||
Trading Symbol | DAN | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,851,347,359 | ||
Entity Common Stock, Shares Outstanding | 143,942,539 | ||
Documents Incorporated by Reference | Portions of the definitive Proxy Statement to be delivered to stockholders in connection with the Annual Meeting of Shareholders to be held on April 22, 2020 are incorporated by reference into Part III. | ||
Amendment Flag | false | ||
Entity Central Index Key | 0000026780 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY |
Consolidated Statement Of Opera
Consolidated Statement Of Operations - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net sales | $ 8,620 | $ 8,143 | $ 7,209 |
Costs and expenses | |||
Cost of sales | 7,489 | 6,986 | 6,143 |
Selling, general and administrative expenses | 508 | 499 | 508 |
Amortization of intangibles | 12 | 8 | 11 |
Restructuring charges, net | 29 | 25 | 14 |
Impairment of goodwill and indefinite-lived intangible asset | (6) | (20) | |
Gain (loss) on disposal group held for sale | 3 | (27) | |
Pension settlement charges | (259) | ||
Other expense, net | (25) | (29) | (16) |
Earnings before interest and income taxes | 292 | 579 | 490 |
Loss on extinguishment of debt | (9) | (19) | |
Interest income | 10 | 11 | 11 |
Interest expense | 122 | 96 | 102 |
Earnings before income taxes | 171 | 494 | 380 |
Income tax expense (benefit) | (32) | 78 | 283 |
Equity in earnings of affiliates | 30 | 24 | 19 |
Net income | 233 | 440 | 116 |
Less: Noncontrolling interests net income | 13 | 13 | 10 |
Less: Redeemable noncontrolling interests net loss | (6) | (5) | |
Net income attributable to the parent company | $ 226 | $ 427 | $ 111 |
Net income per share available to common stockholders | |||
Basic | $ 1.57 | $ 2.94 | $ 0.72 |
Diluted | $ 1.56 | $ 2.91 | $ 0.71 |
Weighted-average common shares outstanding - Basic | 144 | 145 | 145.1 |
Weighted-average common shares outstanding - Diluted | 145.1 | 146.5 | 146.9 |
Consolidated Statement Of Compr
Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net income | $ 233 | $ 440 | $ 116 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||
Currency translation adjustments | 8 | (63) | (14) |
Hedging gains and losses | 24 | 10 | (30) |
Investment and other gains and losses | 2 | ||
Defined benefit plans | 344 | 23 | (6) |
Other comprehensive income (loss) | 376 | (30) | (48) |
Total comprehensive income | 609 | 410 | 68 |
Less: Comprehensive income attributable to noncontrolling interests | (9) | (7) | (17) |
Less: Comprehensive loss attributable to redeemable noncontrolling interests | 1 | 6 | 2 |
Comprehensive income attributable to the parent company | $ 601 | $ 409 | $ 53 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets [Abstract] | ||
Cash and cash equivalents | $ 508,000,000 | $ 510,000,000 |
Marketable securities | 19,000,000 | 21,000,000 |
Accounts receivable [Abstract] | ||
Trade, less allowance for doubtful accounts of $9 in 2019 and 2018 | 1,103,000,000 | 1,065,000,000 |
Other | 202,000,000 | 178,000,000 |
Inventories | 1,193,000,000 | 1,031,000,000 |
Other current assets | 137,000,000 | 102,000,000 |
Total current assets | 3,162,000,000 | 2,907,000,000 |
Goodwill | 493,000,000 | 264,000,000 |
Intangibles | 240,000,000 | 164,000,000 |
Deferred tax assets | 580,000,000 | 445,000,000 |
Other noncurrent assets | 120,000,000 | 80,000,000 |
Investments in affiliates | 182,000,000 | 208,000,000 |
Operating lease assets | 178,000,000 | |
Property, plant and equipment, net | 2,265,000,000 | 1,850,000,000 |
Total assets | 7,220,000,000 | 5,918,000,000 |
Current liabilities | ||
Short-term debt | 14,000,000 | 8,000,000 |
Current portion of long-term debt | 20,000,000 | 20,000,000 |
Accounts payable | 1,255,000,000 | 1,217,000,000 |
Accrued payroll and employee benefits | 206,000,000 | 186,000,000 |
Taxes on income | 46,000,000 | 47,000,000 |
Current portion of operating lease liabilities | 42,000,000 | |
Other accrued liabilities | 262,000,000 | 269,000,000 |
Total current liabilities | 1,845,000,000 | 1,747,000,000 |
Long-term debt, less debt issuance costs of $28 in 2019 and $18 in 2018 | 2,336,000,000 | 1,755,000,000 |
Noncurrent operating lease liabilities | 140,000,000 | |
Pension and postretirement obligations | 459,000,000 | 561,000,000 |
Other noncurrent liabilities | 305,000,000 | 313,000,000 |
Total liabilities | 5,085,000,000 | 4,376,000,000 |
Commitments and contingencies (Note 17) | ||
Redeemable noncontrolling interests | 167,000,000 | 100,000,000 |
Parent company stockholders' equity | ||
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares outstanding | 0 | 0 |
Common stock, 450,000,000 shares authorized, $0.01 par value, 143,942,539 and 144,663,403 shares outstanding | 2,000,000 | 2,000,000 |
Additional paid-in capital | 2,386,000,000 | 2,368,000,000 |
Retained earnings | 622,000,000 | 456,000,000 |
Treasury stock, at cost (10,111,191 and 8,342,185 shares) | (150,000,000) | (119,000,000) |
Accumulated other comprehensive loss | (987,000,000) | (1,362,000,000) |
Total parent company stockholders' equity | 1,873,000,000 | 1,345,000,000 |
Noncontrolling interests | 95,000,000 | 97,000,000 |
Total equity | 1,968,000,000 | 1,442,000,000 |
Total liabilities and equity | $ 7,220,000,000 | $ 5,918,000,000 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Trade, allowance for doubtful accounts | $ 9 | $ 9 |
Debt issuance costs | $ 28 | $ 18 |
Preferred stock, shares authorized | 50,000,000 | 50,000,000 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 450,000,000 | 450,000,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares outstanding | 143,942,539 | 144,663,403 |
Treasury stock, shares | 10,111,191 | 8,342,185 |
Consolidated Statement Of Cash
Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities [Abstract] | |||
Net income | $ 233 | $ 440 | $ 116 |
Depreciation | 322 | 260 | 220 |
Amortization | 17 | 10 | 13 |
Amortization of deferred financing charges | 6 | 4 | 5 |
Call premium on debt | 7 | 15 | |
Write-off of deferred financing costs | 2 | 4 | |
Earnings of affiliates, net of dividends received | (9) | (4) | (3) |
Stock compensation expense | 19 | 16 | 23 |
Deferred income taxes | (137) | (64) | 179 |
Pension expense, net | 211 | 3 | (6) |
Impairment of goodwill and indefinite-lived intangible asset | 6 | 20 | |
Gain on sale of subsidiaries | (3) | ||
Gain on disposal group held for sale | (2) | ||
(Gain) loss on disposal group held for sale | (3) | 27 | |
Change in working capital | (17) | (113) | (8) |
Change in other noncurrent assets and liabilities | (18) | (12) | (9) |
Other, net | (5) | 10 | (19) |
Net cash provided by operating activities | 637 | 568 | 554 |
Investing activities [Abstract] | |||
Purchases of property, plant and equipment | (426) | (325) | (393) |
Acquisition of businesses, net of cash acquired | (668) | (153) | (185) |
Proceeds from previous acquisition | 9 | ||
Purchases of marketable securities | (33) | (37) | (35) |
Proceeds from sales of marketable securities | 6 | 15 | 1 |
Proceeds from maturities of marketable securities | 29 | 37 | 27 |
Proceeds from sale of subsidiaries, net of cash disposed | 1 | 3 | |
Proceeds from sale of subsidiaries, net of cash disposed | (6) | ||
Settlements of undesignated derivatives | (20) | ||
Other, net | (12) | (2) | (1) |
Net cash used in investing activities | (1,123) | (462) | (583) |
Financing activities [Abstract] | |||
Net change in short-term debt | (3) | (21) | (90) |
Proceeds from long-term debt | 975 | 676 | |
Repayment of long-term debt | (423) | (13) | (640) |
Call premium on debt | (7) | (15) | |
Deferred financing payments | (20) | (1) | (9) |
Dividends paid to common stockholders | (58) | (58) | (35) |
Distributions to noncontrolling interests | (19) | (42) | (12) |
Sale of interest to noncontrolling shareholder | 53 | ||
Contributions from noncontrolling interests | 4 | 25 | |
Payments to acquire redeemable noncontrolling interests | (43) | ||
Repurchases of common stock | (25) | (25) | |
Other, net | 2 | (2) | 5 |
Net cash provided by (used in) financing activities | 479 | (180) | (120) |
Net decrease in cash, cash equivalents and restricted cash | (7) | (74) | (149) |
Cash, cash equivalents and restricted cash - beginning of period | 520 | 610 | 716 |
Effect of exchange rate changes on cash balances | 5 | (16) | 43 |
Cash, cash equivalents and restricted cash - end of period | $ 518 | $ 520 | $ 610 |
Consolidated Statement Of Stock
Consolidated Statement Of Stockholders' Equity - USD ($) $ in Millions | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive (Loss) [Member] | Parent [Member] | Noncontrolling Interest [Member] |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Adoption of new accounting standard, January 1 | Accounting Standards Update 2016-16 [Member] | $ (179) | $ (179) | $ (179) | ||||||
Beginning Balance at Dec. 31, 2016 | 1,242 | $ 0 | $ 2 | $ 2,327 | 195 | $ (83) | $ (1,284) | 1,157 | $ 85 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income attributable to the parent company | 111 | 111 | |||||||
Net income attributable to nonredeemable noncontrolling interests | 10 | ||||||||
Net income, including portion attributable to nonredeemable noncontrolling interests | 121 | ||||||||
Other comprehensive income (loss), net of tax | (48) | (58) | (58) | 7 | |||||
Other comprehensive income (loss), including portion attributable to nonredeemable noncontrolling interests | (51) | ||||||||
Common stock dividends | (35) | (35) | (35) | ||||||
Distributions to noncontrolling interests | (12) | (12) | |||||||
Increase from business combination | 12 | 12 | |||||||
Redeemable noncontrolling interests adjustment to redemption value | (6) | (6) | (6) | ||||||
Purchase of noncontrolling interests | (1) | (1) | |||||||
Stock compensation | 27 | 27 | 27 | ||||||
Stock withheld for employees taxes | (4) | (4) | (4) | ||||||
Ending Balance at Dec. 31, 2017 | 1,114 | 0 | 2 | 2,354 | 86 | (87) | (1,342) | 1,013 | 101 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Adoption of new accounting standard, January 1 | Accounting Standards Update 2016-01 [Member] | 0 | 2 | (2) | 0 | |||||
Net income attributable to the parent company | 427 | 427 | |||||||
Net income attributable to nonredeemable noncontrolling interests | 13 | ||||||||
Net income, including portion attributable to nonredeemable noncontrolling interests | 440 | ||||||||
Other comprehensive income (loss), net of tax | (30) | (18) | (18) | (6) | |||||
Other comprehensive income (loss), including portion attributable to nonredeemable noncontrolling interests | (24) | ||||||||
Common stock dividends | 1 | ||||||||
Common stock dividends | (58) | (59) | (58) | ||||||
Distributions to noncontrolling interests | (42) | (42) | |||||||
Purchase of noncontrolling interests | 0 | ||||||||
Purchase of noncontrolling interests | (9) | (9) | |||||||
Purchase of noncontrolling interests | 9 | ||||||||
Purchase of redeemable noncontrolling interests | 2 | 2 | 2 | ||||||
Contributions from noncontrolling interest | 22 | 22 | |||||||
Common stock share repurchases | (25) | (25) | (25) | ||||||
Stock compensation | 20 | 20 | 20 | ||||||
Stock withheld for employees taxes | (7) | (7) | (7) | ||||||
Ending Balance at Dec. 31, 2018 | 1,442 | 0 | 2 | 2,368 | 456 | (119) | (1,362) | 1,345 | 97 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Adoption of new accounting standard, January 1 | Accounting Standards Update 2016-02 [Member] | (1) | (1) | (1) | ||||||
Net income attributable to the parent company | 226 | 226 | |||||||
Net income attributable to nonredeemable noncontrolling interests | 13 | ||||||||
Net income, including portion attributable to nonredeemable noncontrolling interests | 239 | ||||||||
Other comprehensive income (loss), net of tax | 376 | 375 | 375 | (4) | |||||
Other comprehensive income (loss), including portion attributable to nonredeemable noncontrolling interests | 371 | ||||||||
Common stock dividends | 1 | ||||||||
Common stock dividends | (58) | (59) | (58) | ||||||
Distributions to noncontrolling interests | (19) | (19) | |||||||
Increase from business combination | 8 | 8 | |||||||
Common stock share repurchases | (25) | (25) | (25) | ||||||
Stock compensation | 17 | 17 | 17 | ||||||
Stock withheld for employees taxes | (6) | (6) | (6) | ||||||
Ending Balance at Dec. 31, 2019 | $ 1,968 | $ 0 | $ 2 | $ 2,386 | $ 622 | $ (150) | $ (987) | $ 1,873 | $ 95 |
Consolidated Statement Of Sto_2
Consolidated Statement Of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common stock dividends, per share | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.40 | $ 0.40 | $ 0.24 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Summary of Significant Accounting Policies [Text Block] | Organization and Summary of Significant Accounting Policies General Dana Incorporated (Dana) is headquartered in Maumee, Ohio, and was incorporated in Delaware in 2007. As a global provider of high technology driveline (axles, driveshafts and transmissions); sealing and thermal-management products; and motors, power inverters, and control systems for electric vehicles, our customer base includes virtually every major vehicle manufacturer in the global light vehicle, medium/heavy vehicle, and off-highway markets. The terms "Dana," "we," "our" and "us," when used in this report are references to Dana. These references include the subsidiaries of Dana unless otherwise indicated or the context requires otherwise. Summary of significant accounting policies Basis of presentation — Our consolidated financial statements include the accounts of all subsidiaries where we hold a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in 20 to 50% -owned affiliates, which are not required to be consolidated, are generally accounted for under the equity method. Equity in earnings of these investments is presented separately in the consolidated statement of operations, net of tax. Investments in less-than- 20% -owned companies are generally included in the financial statements at the cost of our investment. Dividends, royalties and fees from these cost basis affiliates are recorded in income when received. During the fourth quarter of 2019, we reclassified certain expenses previously reported as selling, general and administrative expenses to cost of sales. The reclassification aligns the financial reporting of the recently acquired ODS operations with our classification of similar expenses. The reclassification was retrospectively applied by restating the first, second, third and fourth quarters of 2019. Reference is made to the Quarterly Results disclosure in Item 8 below. The impact on the consolidated financial statements for the prior periods presented was insignificant. Held for sale — We classify long-lived assets or disposal groups as held for sale in the period: management commits to a plan to sell; the long-lived asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such long-lived assets or disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale is probable within one year; the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets and disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. Discontinued operations — The results of operations of a component or a group of components that either has been disposed of or is classified as held for sale is reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on operations and financial results. Estimates — Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP), which require the use of estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. We believe our assumptions and estimates are reasonable and appropriate. However, due to the inherent uncertainties in making estimates, actual results could differ from those estimates. Fair value measurements — A three-tier fair value hierarchy is used to prioritize the inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1 inputs (highest priority) include unadjusted quoted prices in active markets for identical instruments. Level 2 inputs include quoted prices for similar instruments that are observable either directly or indirectly. Level 3 inputs (lowest priority) include unobservable inputs in which there is little or no market data, which require management to develop its own assumptions. Classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The inputs we use in our valuation techniques include market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate. Our valuation techniques include a combination of observable and unobservable inputs. When available, we use quoted market prices to determine the fair value (market approach). In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, we consider the amount and timing of estimated future cash flows and assumed discount rates reflecting varying degrees of credit risk that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date (income approach). Fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. Cash and cash equivalents — Cash and cash equivalents includes cash on hand, demand deposits and short-term cash investments that are highly liquid in nature and have maturities of three months or less when purchased. Marketable securities — Our investments in marketable securities reported in the accompanying balance sheet are classified as available for sale and carried at fair value. We recorded unrealized gains and losses in accumulated other comprehensive income (loss) (AOCI) through the end of 2017 but recorded them in net income beginning in 2018 to comply with new accounting guidance. Realized gains and losses are recorded using the specific identification method. Inventories — Inventories are valued at the lower of cost or net realizable value. Cost is determined using the average or first-in, first-out (FIFO) cost method. Property, plant and equipment — Property, plant and equipment are recorded at cost. Depreciation is recognized over the estimated useful lives using primarily the straight-line method for financial reporting purposes and accelerated depreciation methods for federal income tax purposes. Useful lives of newly acquired assets are generally twenty to thirty years for buildings and building improvements, five to ten years for machinery and equipment, three to five years for tooling and office equipment and three to ten years for furniture and fixtures. If assets are impaired, their value is reduced via an increase in accumulated depreciation. Leases — Our global lease portfolio represents leases of real estate, including manufacturing, assembly and office facilities, while the remainder represents leases of personal property, including manufacturing, material handling and IT equipment. We have lease agreements with lease and non-lease components, which are accounted for separately. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Generally, we use our incremental borrowing rate in determining the present value of lease payments, unless there is a rate stated in the lease agreement. Pre-production costs related to long-term supply arrangements — The costs of tooling used to make products sold under long-term supply arrangements are capitalized as part of property, plant and equipment and amortized over their useful lives if we own the tooling or if we fund the purchase but our customer owns the tooling and grants us the irrevocable right to use the tooling over the contract period. If we have a contractual right to bill our customers, costs incurred in connection with the design and development of tooling are carried as a component of other accounts receivable until invoiced. Design and development costs related to customer products are deferred if we have an agreement to collect such costs from the customer; otherwise, they are expensed when incurred. At December 31, 2019 , the machinery and equipment component of property, plant and equipment includes $66 of our tooling related to long-term supply arrangements. Also at December 31, 2019 , trade and other accounts receivable includes $38 of costs related to tooling that we have a contractual right to collect from our customers. Goodwill — We test goodwill for impairment annually as of October 31 and more frequently if events occur or circumstances change that would warrant an interim review. Goodwill impairment testing is performed at the reporting unit level, which is the operating segment in the case of our Off-Highway and Commercial Vehicle goodwill. We estimate the fair value of the reporting units using various valuation methodologies, including discounted cash flow projections and multiples of current earnings. In determining fair value using discounted cash flow projections, we make significant assumptions and estimates about the extent and timing of future cash flows, including revenue growth rates, projected gross margins, discount rates, terminal growth rates, and exit earnings multiples. If the estimated fair value of the reporting unit exceeds its carrying value, the goodwill is considered not impaired. If the carrying value of the reporting unit exceeds its estimated fair value, a goodwill impairment charge is recorded for the difference. See Note 4 for more information about goodwill. Intangible assets — Intangible assets include the value of core technology, trademarks and trade names, customer relationships and intangible assets used in research and development activities. Core technology and customer relationships have definite lives while intangible assets used in research and development activities and substantially all of our trademarks and trade names have indefinite lives. Definite-lived intangible assets are amortized over their useful life using the straight-line method of amortization and are periodically reviewed for impairment indicators. Amortization of core technology is charged to cost of sales. Amortization of trademarks and trade names and customer relationships is charged to amortization of intangibles. Intangible assets used in research and development activities have an indefinite life until completion of the associated research and development efforts. Upon completion of development, the assets are amortized over their useful life; if the project is abandoned, the assets are written off immediately. Indefinite-lived intangible assets are tested for impairment annually and more frequently if impairment indicators exist. See Note 4 for more information about intangible assets. Investments in affiliates — Investments in affiliates include investments accounted for under the equity and cost methods. We monitor our investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis in accordance with GAAP. Indicators include, but are not limited to, current economic and market conditions, operating performance of the affiliate, including current earnings trends and undiscounted cash flows, and other affiliate-specific information. If we determine that an other-than-temporary decline in value has occurred, we recognize an impairment loss, which is measured as the excess of the investment's recorded carrying value over its fair value. The fair value determination, particularly for investments in privately-held companies, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and determination of whether any identified impairment is other than temporary. See Note 23 for further information about our investment in affiliates. Tangible asset impairments — We review the carrying value of amortizable long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the undiscounted future net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell and are no longer depreciated. Other long-lived assets and liabilities — We discount our workers’ compensation obligations by applying blended risk-free rates that are appropriate for the duration of the projected cash flows. The use of risk-free rates is considered appropriate given that other risks affecting the volume and timing of payments have been considered in developing the probability-weighted projected cash flows. The blended risk-free rates are revised annually to consider incremental cash flow projections. Financial instruments — The carrying values of cash and cash equivalents, trade receivables and short-term borrowings approximate fair value. Notes receivable are carried at fair value, which considers the contractual call or selling price, if applicable. Borrowings under our credit facilities are carried at historical cost and adjusted for principal payments and foreign currency fluctuations. Derivative s — Foreign currency forward contracts and currency swaps are carried at fair value. We enter into these contracts to manage our exposure to the impact of currency fluctuations on certain foreign currency-denominated assets and liabilities and on a portion of our forecasted purchase and sale transactions. On occasion, we also enter into net investment hedges to protect the translated U.S. dollar value of our investment in certain foreign subsidiaries. We also periodically enter into fixed-to-fixed cross-currency swaps on foreign currency-denominated external or intercompany debt instruments to reduce our exposure to foreign currency exchange rate risk. Such fixed-to-fixed cross-currency swaps are designated as cash flow hedges. We do not use derivatives for trading or speculative purposes and we do not hedge all of our exposures. For derivative instruments designated as cash flow hedges, at the cash flow hedge’s inception and on an ongoing basis, the company formally assesses whether the cash flow hedging instruments have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those cash flow hedging instruments may be expected to remain highly effective in future periods. Changes in the fair value of currency-related contracts treated as cash flow hedges are deferred and included as a component of other comprehensive income (loss) (OCI). For our fixed-to-fixed cross-currency swaps, a review of critical terms is performed each period to establish that an assumption of effectiveness remains appropriate. Deferred gains and losses are reclassified to earnings in the same periods in which the underlying transactions affect earnings. Changes in the fair value of contracts not treated as cash flow hedges or as net investment hedges are recognized in other expense, net in the period in which those changes occur. Changes in the fair value of contracts treated as net investment hedges are recorded in the cumulative translation adjustment (CTA) component of OCI. Amounts recorded in CTA are deferred until such time as the investment in the associated subsidiary is substantially liquidated. We may also use fixed-to-floating or floating-to-fixed interest rate swaps or other similar derivatives to manage exposure to fluctuations in interest rates and to adjust the mix of our fixed-rate and variable-rate debt. As a fair value hedge of the underlying debt, changes in the fair values of the swap and the underlying debt are recorded in interest expense. No such fixed-to-floating or floating-to-fixed swaps were outstanding at December 31, 2019. See Note 16 for additional information. Cash flows associated with designated derivatives are classified within the same category as the item being hedged on the consolidated statement of cash flows. Cash flows associated with undesignated derivatives are included in the investing category on the consolidated statement of cash flows. Warranty — Costs related to product warranty obligations are estimated and accrued at the time of sale with a charge against cost of sales. Warranty accruals are evaluated and adjusted as appropriate based on occurrences giving rise to potential warranty exposure and associated experience. Warranty accruals and adjustments require significant judgment, including a determination of our involvement in the matter giving rise to the potential warranty issue or claim, our contractual requirements, estimates of units requiring repair and estimates of repair costs. Environmental compliance and remediation — Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to existing conditions caused by past operations that do not contribute to our current or future revenue generation are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated. We consider the most probable method of remediation, current laws and regulations and existing technology in determining our environmental liabilities. Pension and other postretirement defined benefits — Net pension and postretirement benefits expenses and the related liabilities are determined on an actuarial basis. These plan expenses and obligations are dependent on management’s assumptions developed in consultation with our actuaries. We review these actuarial assumptions at least annually and make modifications when appropriate. With the input of independent actuaries and other relevant sources, we believe that the assumptions used are reasonable; however, changes in these assumptions, or experience different from that assumed, could impact our financial position, results of operations or cash flows. Postemployment benefits — Costs to provide postemployment benefits to employees are accounted for on an accrual basis. Obligations that do not accumulate or vest are recorded when payment is probable and the amount can be reasonably estimated. For those obligations that accumulate or vest and the amount can be reasonably estimated, expense and the related liability are recorded as service is rendered. Equity-based compensation — We measure compensation cost arising from the grant of share-based awards to employees at fair value. We recognize such costs in income over the period during which the requisite service is provided, usually the vesting period. The grant date fair value is estimated using valuation techniques that require the input of management estimates and assumptions. Revenue recognition — Sales are recognized when products are shipped and risk of loss has transferred to the customer. We accrue for warranty costs, sales returns and other allowances based on experience and other relevant factors when sales are recognized. Adjustments are made as new information becomes available. Shipping and handling fees billed to customers are included in sales, while costs of shipping and handling are included in cost of sales. Taxes collected from customers are excluded from revenues and credited directly to obligations to the appropriate governmental agencies. See Note 21 for additional information. Foreign currency translation — The financial statements of subsidiaries and equity affiliates outside the U.S. located in non-highly inflationary economies are measured using the currency of the primary economic environment in which they operate as the functional currency, which typically is the local currency. Transaction gains and losses resulting from translating assets and liabilities of these entities into the functional currency are included in other expense, net or in equity in earnings of affiliates. When translating into U.S. dollars, income and expense items are translated at average monthly rates of exchange, while assets and liabilities are translated at the rates of exchange at the balance sheet date. Translation adjustments resulting from translating the functional currency into U.S. dollars are deferred and included as a component of AOCI in stockholders’ equity. For operations whose functional currency is the U.S. dollar, nonmonetary assets are translated into U.S. dollars at historical exchange rates and monetary assets are translated at current exchange rates. Effective July 1, 2018, we accounted for Argentina as a highly inflationary economy, as the three-year cumulative inflation rate exceeded 100% . As such, beginning July 1, 2018 we began to remeasure the financial statements of our Argentine subsidiaries as if their functional currency was the U.S. dollar. Income taxes — In the ordinary course of business there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax assets or liabilities for all years subject to examination based upon management’s evaluation of the facts and circumstances and information available at the reporting dates. For those tax positions where it is more likely than not that a tax benefit will be sustained, we have recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, the related interest cost has also been recognized as a component of the income tax provision. Research and development — Research and development costs include expenditures for research activities relating to product development and improvement. Salaries, fringes and occupancy costs, including building, utility and overhead costs, comprise the vast majority of these expenses and are expensed as incurred. Research and development expenses were $112 , $103 and $102 in 2019 , 2018 and 2017 . Recently adopted accounting pronouncements On January 1, 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) , using the modified retrospective approach and an application date of January 1, 2019. Prior period amounts have not been adjusted and continue to be reflected in accordance with our historical accounting. This transition method resulted in the recognition of a right-of-use asset and a lease liability for virtually all leases at the application date with a cumulative-effect adjustment to retained earnings. We elected the package of practical expedients, which among other things, allowed us to carry forward the historical lease classification. We did not elect the practical expedient that allowed for hindsight to determine the lease term of existing leases. We separated the lease components from the non-lease components of each lease arrangement and, therefore, did not elect the practical expedient that would enable us to not separate them. During the fourth quarter of 2019 we adopted ASU 2017-04, Goodwill – Simplifying the Test for Goodwill Impairment, guidance which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 of the goodwill impairment test. The new guidance quantifies goodwill impairment as the amount by which the carrying amount of a reporting unit, including goodwill, exceeds its fair value, with the impairment loss limited to the total amount of goodwill allocated to that reporting unit. We performed our annual goodwill impairment tests as of October 31, 2019 in accordance with ASU 2017-04. See Note 4 for more information about goodwill and the results of our annual impairment tests. We also adopted the following standard during 2019, which did not have a material impact on our financial statements or financial statement disclosures: Standard Effective Date 2017-11 Earnings Per Share, Distinguishing Liabilities from Equity, Derivatives and Hedging – (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception January 1, 2019 Recently issued accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes . This guidance is intended to simplify various aspects of income tax accounting including the elimination of certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This guidance becomes effective January 1, 2021 and early adoption is permitted. Adoption of this guidance requires certain changes to primarily be made prospectively, with some changes to be made retrospectively. We are currently assessing the impact of this guidance on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This guidance allows for capitalization of implementation costs associated with certain cloud computing arrangements. This guidance becomes effective January 1, 2020 and early adoption is permitted. The guidance is to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We do not expect the adoption of this guidance to impact our consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General, Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance eliminated certain disclosures about defined benefit plans, added new disclosures, and clarified other requirements. This guidance becomes effective January 1, 2020 and early adoption is permitted. There were no changes to interim disclosure requirements. Adoption of this guidance will not have a material effect on our annual financial statement disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . The guidance removed or modified some disclosures while others were added. The removal and amendment of certain disclosures can be adopted immediately with retrospective application. The additional disclosure guidance becomes effective January 1, 2020. Adoption of this guidance will not have a material effect on our financial statement disclosures. In June 2016, the FASB issued ASU 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments, new guidance for the accounting for credit losses on certain financial instruments. This guidance introduces a new approach to estimating credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. This guidance, which becomes effective January 1, 2020, will not have a material impact on our consolidated financial statements. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Acquisitions Nordresa — On August 26, 2019, we acquired a 100% ownership interest in Nordresa Motors, Inc. (Nordresa) for consideration of $12 , using cash on hand. Nordresa is a prominent integration and application engineering expert for the development and commercialization of electric powertrains for commercial vehicles. The investment further enhances Dana's electrification capabilities by combining its complete portfolio of motors, inverters, chargers, gearboxes, and thermal-management products with Nordresa's proprietary battery-management system, electric powertrain controls and integration expertise to deliver complete electric powertrain systems. The results of operations of the business are reported within our Commercial Vehicle operating segment. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial information is presented. Hydro-Québec Relationship — On July 29, 2019, we broadened our relationship with Hydro-Québec, with Hydro-Québec acquiring an indirect 45% redeemable noncontrolling interest in S.M.E. S.p.A. (SME) and increasing its existing indirect 22.5% noncontrolling interest in Prestolite E-Propulsion Systems (Beijing) Limited (PEPS) to 45% . We received $65 at closing, consisting of $53 of cash and a note receivable of $12 . The note is payable in five years and bears annual interest of 5% . Dana will continue to consolidate SME and PEPS as the governing documents continue to provide Dana with a controlling financial interest in these subsidiaries. See Note 10 for additional information. See below for a discussion of Dana's acquisitions of PEPS, SME and TM4. Prestolite E-Propulsion Systems (Beijing) Limited — On June 6, 2019, we acquired Prestolite Electric Beijing Limited's (PEBL) 50% ownership interest in PEPS. PEPS manufactures and distributes electric mobility solutions, including electric motors, inverters, and generators for commercial vehicles and heavy machinery. PEPS has a state-of-the-art facility in China, enabling us to expand motor and inverter manufacturing capabilities in the world's largest electric-mobility market. The acquisition of PEBL's interest in PEPS, along with our existing ownership interest in PEPS through our TM4 subsidiary, provides us with a 100% ownership interest and a controlling financial interest in PEPS. We recognized a $2 gain to other expense, net on the required remeasurement of our previously held equity method investment in PEPS to fair value. See Hydro-Québec relationship discussion above for details of the subsequent change in our ownership interest in PEPS. We paid $50 at closing using cash on hand. The purchase consideration and related provisional allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Purchase consideration paid at closing $ 50 Fair value of previously held equity method investment 45 Total purchase consideration $ 95 Cash and cash equivalents $ 2 Accounts receivable - Trade 17 Inventories 9 Goodwill 63 Intangibles 10 Property, plant and equipment 2 Accounts payable (4 ) Other accrued liabilities (3 ) Other noncurrent liabilities (1 ) Total purchase consideration allocation $ 95 The fair value of the assets acquired and liabilities assumed, as well as the fair value of our previously held equity method investment, are provisional and could be revised as a result of additional information obtained regarding indemnified matters and liabilities assumed and revisions of provisional estimates of fair values, including but not limited to, the completion of independent appraisals and valuations related to inventories, intangibles and property, plant and equipment. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is not deductible for tax purposes. We used a combination of the discounted cash flow method, an income approach, and the guideline public company method, a market approach, to value our previously held equity method investment in PEPS. The fair value assigned to intangibles includes $10 allocated to customer relationships. We used the multi-period excess earnings method, an income approach, to value customer relationships. The customer relationships intangible asset is being amortized on a straight-line basis over seven years . The results of operations of the business are reported in our Commercial Vehicle operating segment from the date of acquisition. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial information is presented. PEPS had an insignificant impact on our consolidated results of operations during 2019. Oerlikon Drive Systems — On February 28, 2019, we acquired a 100% ownership interest in the Oerlikon Drive Systems (ODS) segment of the Oerlikon Group. ODS is a global manufacturer of high-precision gears, planetary hub drives for wheeled and tracked vehicles, and products, controls, and software that support vehicle electrification across the mobility industry. The acquisition of ODS is expected to deliver significant long-term value by accelerating our commitment to vehicle electrification and strengthening the technology portfolio for each of our end markets while further expanding and balancing the manufacturing presence of our off-highway business in key geographical markets. We paid $626 at closing which was funded primarily through debt proceeds. See Note 15 for additional information. The purchase consideration and related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Purchase consideration paid at closing $ 626 Less purchase consideration to be recovered for indemnified matters (11 ) Total purchase consideration $ 615 Cash and cash equivalents $ 76 Accounts receivable - Trade 150 Accounts receivable - Other 15 Inventories 190 Other current assets 16 Goodwill 92 Intangibles 58 Deferred tax assets 27 Other noncurrent assets 1 Investments in affiliates 7 Operating lease assets 4 Property, plant and equipment 333 Current portion of long-term debt (2 ) Accounts payable (151 ) Accrued payroll and employee benefits (37 ) Current portion of operating lease liabilities (1 ) Taxes on income (5 ) Other accrued liabilities (61 ) Long-term debt (8 ) Pension and postretirement obligations (49 ) Noncurrent operating lease liabilities (2 ) Other noncurrent liabilities (30 ) Noncontrolling interests (8 ) Total purchase consideration allocation $ 615 The valuation of current and deferred income tax assets and liabilities and certain non-income tax liabilities are provisional and subject to change as these amounts are finalized in the first quarter of 2020. Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is not deductible for tax purposes. The fair values assigned to intangibles includes $11 allocated to developed technology, $13 allocated to trademarks and trade names and $34 allocated to customer relationships. Various valuation techniques were used to determine the fair value of the intangible assets, with the primary techniques being forms of the income approach, specifically, the relief-from-royalty and excess earnings valuation methods, which use significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. Under these valuation approaches, Dana is required to make estimates and assumptions about sales, operating margins, growth rates, customer attrition rates, royalty rates and discount rates based on anticipated future cash flows and marketplace data. We used a replacement cost method to value fixed assets. The developed technology, trademarks and trade names and customer relationship intangible assets are being amortized on a straight-line basis over seven, ten and twelve years , respectively. Property, plant and equipment is being depreciated on a straight-line basis over useful lives ranging from three to twenty-five years . The results of operations of the business are primarily reported in our Off-Highway and Commercial Vehicle operating segments. Transaction related expenses associated with completion of the acquisition totaling $13 were charged to other expense, net. During 2019, the business contributed sales of $630 . The following unaudited pro forma information has been prepared as if the ODS acquisition and the related debt financing had occurred on January 1, 2018. 2019 2018 Net sales $ 8,765 $ 9,013 Net income $ 273 $ 425 The unaudited pro forma results include adjustments primarily related to purchase accounting, interest expense related to the debt proceeds used in connection with the acquisition of ODS, and non-recurring strategic transaction expenses. The unaudited pro forma financial information is not indicative of the operational results that would have been obtained had the transactions actually occurred as of that date, nor is it necessarily indicative of Dana’s future operational results. SME — On January 11, 2019, we acquired a 100% ownership interest in SME. SME designs, engineers, and manufactures low-voltage AC induction and synchronous reluctance motors, inverters, and controls for a wide range of off-highway electric vehicle applications, including material handling, agriculture, construction, and automated-guided vehicles. The addition of SME's low-voltage motors and inverters, which are primarily designed to meet the evolution of electrification in off-highway equipment, significantly expands Dana's electrified product portfolio. See Hydro-Québec relationship discussion above for details of the subsequent change in our ownership interest in SME. We paid $88 at closing, consisting of $62 in cash on hand and a note payable of $26 which allows for net settlement of potential contingencies as defined in the purchase agreement. The note is payable in five years and bears annual interest of 5% . The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 88 Accounts receivable - Trade $ 4 Accounts receivable - Other 1 Inventories 8 Goodwill 68 Intangibles 24 Property, plant and equipment 5 Short-term debt (8 ) Accounts payable (6 ) Accrued payroll and employee benefits (1 ) Other accrued liabilities (1 ) Other noncurrent liabilities (6 ) Total purchase consideration allocation $ 88 Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is not deductible for tax purposes. The fair values assigned to intangibles include $15 allocated to developed technology and $9 allocated to customer relationships. We used the relief from royalty method, an income approach, to value developed technology. We used the multi-period excess earnings method, an income approach, to value customer relationships. We used a replacement cost method to value fixed assets. The developed technology and customer relationship intangible assets are being amortized on a straight-line basis over twelve and ten years , respectively, and property, plant and equipment is being depreciated on a straight-line basis over useful lives ranging from one to twenty years . The results of operations of the business are reported in our Off-Highway operating segment from the date of acquisition. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial information is presented. During 2019, the business contributed sales of $21 . TM4 — On June 22, 2018, we acquired a 55% ownership interest in TM4 Inc. (TM4) from Hydro-Québec. TM4 designs and manufactures motors, power inverters, and control systems for electric vehicles, offering a complementary portfolio to Dana's electric gearboxes and thermal-management technologies for batteries, motors, and inverters. The transaction establishes Dana as the only supplier with full e-Drive design, engineering, and manufacturing capabilities – offering electro-mechanical propulsion solutions to each of its end markets. The transaction further strengthens Dana's position in China, the world's fastest-growing market for electric vehicles. The terms of the agreement provide Hydro-Québec with the right to put all, and not less than all, of its shares in TM4 to Dana at fair value any time after June 22, 2021, see Note 10 for additional information. TM4 owns a 50% interest in PEPS, a joint venture in China with PEBL, which offers electric mobility solutions throughout China and Asia. See discussion of Dana's subsequent acquisition of PEBL's 50% interest in PEPS above. We paid $125 at closing, using cash on hand. The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 125 Cash and cash equivalents $ 3 Accounts receivable - Trade 3 Accounts receivable - Other 1 Inventories 4 Goodwill 148 Intangibles 24 Investment in affiliates 49 Property, plant and equipment 5 Accounts payable (2 ) Accrued payroll and employee benefits (1 ) Other accrued liabilities (7 ) Redeemable noncontrolling interest (102 ) Total purchase consideration allocation $ 125 Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is not deductible for tax purposes. The fair values assigned to intangibles include $14 allocated to developed technology and $10 allocated to trademarks and trade names. We used the relief from royalty method, an income approach, to value developed technology and the trademarks and trade names. We used a replacement cost method to value fixed assets. We used a combination of the discounted cash flow, an income approach, and the guideline public company method, a market approach, to value the equity method investment in PEPS. The developed technology intangible assets are being amortized on a straight-line basis over ten years , and property, plant and equipment is being depreciated on a straight-line basis over useful lives ranging from five to six years . The trademarks and trade names are considered indefinite-lived intangible assets. Dana is consolidating TM4 as the governing documents provide Dana with a controlling financial interest. The results of operations of the business are reported in our Commercial Vehicle operating segment from the date of acquisition. Transaction related expenses associated with completion of the acquisition totaling $5 were charged to other expense, net in 2018. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial statements are presented. During 2018, the business contributed sales of $11 . USM – Warren — On March 1, 2017, we acquired certain assets and liabilities relating to the Warren, Michigan production unit of U.S. Manufacturing Corporation (USM). The production unit acquired is in the business of manufacturing axle housings, extruded tubular products and machined components for the automotive industry. The acquisition will increase Dana's revenue from light and commercial vehicle manufacturers and will vertically integrate a significant element of Dana's supply chain. It also provides Dana with new lightweight product and process technologies. USM contributed certain assets and liabilities relating to its Warren, Michigan production unit to Warren Manufacturing LLC (USM – Warren), a newly created legal entity, and Dana acquired all of the company units of USM – Warren. The company units were acquired by Dana free and clear of any liens. We paid $104 at closing, including $25 to effectively settle trade payable obligations originating from product purchases Dana made from USM prior to the acquisition, and received $1 in the third quarter of 2017 for purchase price adjustments determined under the terms of the agreement. The acquisition has been accounted for as a business combination. The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 78 Accounts receivable - Trade $ 17 Accounts receivable - Other 3 Inventories 9 Goodwill 3 Intangibles 33 Property, plant and equipment 50 Accounts payable (34 ) Accrued payroll and employee benefits (2 ) Other accrued liabilities (1 ) Total purchase consideration allocation $ 78 Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is deductible for tax purposes. Intangibles includes $30 allocated to customer relationships and $3 allocated to developed technology. We used the relief from royalty method, an income approach, to value developed technology. We used the multi-period excess earnings method, an income approach, to value customer relationships. We used a replacement cost method to value fixed assets. The developed technology and customer relationship intangible assets are being amortized on a straight-line basis over eighteen and eleven years , respectively, and property, plant and equipment is being depreciated on a straight-line basis over useful lives ranging from one to seventeen years . The results of operations of the business are reported in our Light Vehicle operating segment from the date of acquisition. We incurred transaction related expenses to complete the acquisition in 2017 totaling $5 , which were charged to other expense, net. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial statements are presented. During 2017, the business contributed sales of $96 . BFP and BPT — On February 1, 2017, we acquired 80% ownership interests in Brevini Fluid Power S.p.A. (BFP) and Brevini Power Transmission S.p.A. (BPT) from Brevini Group S.p.A. (Brevini). The acquisition expands our Off-Highway operating segment product portfolio to include technologies for tracked vehicles, doubling our addressable market for off-highway driveline systems and establishing Dana as the only off-highway solutions provider that can manage the power to both move the equipment and perform its critical work functions. This acquisition also brings a platform of technologies that can be leveraged in our light and commercial-vehicle end markets, helping to accelerate our hybridization and electrification initiatives. We paid $181 at closing, using cash on hand, and refinanced a significant portion of the debt assumed in the transaction during the first half of 2017. In December 2017, a purchase price reduction of $9 was agreed under the sale and purchase agreement provisions for determination of the net indebtedness and net working capital levels of BFP and BPT as of the closing date. The terms of the agreement provided Dana the right to call half of Brevini’s noncontrolling interests in BFP and BPT, and Brevini the right to put half of its noncontrolling interests in BFP and BPT to Dana, assuming Dana did not exercise its call right, after the 2017 BFP and BPT financial statements had been approved by the board of directors. Further, Dana had the right to call Brevini’s remaining noncontrolling interests in BFP and BPT, and Brevini the right to put its remaining noncontrolling interests in BFP and BPT to Dana, assuming Dana does not exercise its call right, after the 2019 BFP and BPT financial statements had been approved by the board of directors. The call and put prices were based on the amount Dana paid to acquire its initial 80% interest in BFP and BPT subject to adjustment based on the actual EBITDA and free cash flows, as defined in the agreement, of BFP and BPT. In connection with the acquisition of BFP and BPT, Dana agreed to purchase certain real estate being leased by BPT from a Brevini affiliate for €25 . Completion of the real estate purchase and receipt of the purchase price adjustment occurred in the second quarter of 2018 with a net cash payment of $20 . The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 201 Cash and cash equivalents $ 75 Accounts receivable - Trade 78 Accounts receivable - Other 18 Inventories 134 Other current assets 9 Goodwill 20 Intangibles 41 Deferred tax assets 3 Other noncurrent assets 4 Property, plant and equipment 174 Notes payable, including current portion of long-term debt (130 ) Accounts payable (51 ) Accrued payroll and employee benefits (14 ) Taxes on income (1 ) Other accrued liabilities (19 ) Long-term debt (51 ) Pension and postretirement obligations (11 ) Other noncurrent liabilities (22 ) Redeemable noncontrolling interest (44 ) Noncontrolling interests (12 ) Total purchase consideration allocation $ 201 Goodwill recognized in this transaction is primarily attributable to synergies expected to arise after the acquisition and the assembled workforce and is not deductible for tax purposes. Intangibles includes $29 allocated to customer relationships and $12 allocated to trademarks and trade names. We used the multi-period excess earnings method, an income approach, to value the customer relationships. We used the relief from royalty method, an income approach, to value trademarks and trade names. We used a replacement cost method to value fixed assets. We used a discounted cash flow approach to value the redeemable noncontrolling interests, inclusive of the put and call provisions. We used both discounted cash flow and cost approaches to value the noncontrolling interests. The customer relationships and trademarks and trade names intangible assets are being amortized on a straight-line basis over seventeen years , and property, plant and equipment is being depreciated on a straight-line basis over useful lives ranging from three to thirty years . The results of operations of the businesses are reported in our Off-Highway operating segment from the date of acquisition. Transaction related expenses in 2017 associated with completion of the acquisition totaling $7 were charged to other expense, net. The pro forma effects of this acquisition would not materially impact our reported results for any period presented, and as a result no pro forma financial statements are presented. During 2017, the businesses contributed sales of $401 . On August 8, 2018, we entered into an agreement to acquire Interfind S.p.A.'s, formerly Brevini Group S.p.A., remaining 20% ownership interests in BFP and BPT and to settle all claims between the parties. We paid $43 to acquire Interfind S.p.A.'s remaining ownership interests and received $10 in settlement of all pending and future claims. See Note 10 for additional information. |
Disposal Groups and Divestiture
Disposal Groups and Divestitures | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups and Divestitures [Text Block] | Disposal Groups and Divestitures Disposal group — In December 2017, we entered into an agreement to divest our Brazil suspension components business (the disposal group) for no consideration to an unaffiliated company. The results of operations of the Brazil suspension components business are reported within our Commercial Vehicle operating segment. To effectuate the sale, Dana was obligated to contribute $10 of additional cash to the business prior to closing. We classified the disposal group as held for sale at December 31, 2017, recognizing a $27 loss to adjust the carrying value of the net assets to fair value and to recognize the liability for the additional cash required to be contributed to the business prior to closing. During the first quarter of 2018, we made the required cash contribution to the disposal group. After being unable to complete the transaction with the counterparty to the December 2017 agreement, we entered into an agreement with another third party in June 2018. The transaction with the new counterparty closed in July 2018 and we received cash proceeds of $2 . We reversed $3 of the previously recognized $27 pre-tax loss, inclusive of the proceeds received in July 2018, during the second quarter of 2018. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets [Text Block] | Goodwill and Other Intangible Assets Goodwill —The increase in the carrying amount of goodwill in 2019 was due to the acquisitions of Nordresa, PEPS, ODS and SME and currency fluctuation. As a result of our annual goodwill impairment test performed in the fourth quarter of 2019, we concluded that the goodwill resulting from the acquisition of Magnum Gaskets in 2016 was unrecoverable. Accordingly, a full impairment charge of $6 was recorded for the year ended December 31, 2019. The estimated fair value of our Off-Highway and Commercial Vehicle reporting units were greater than their carrying values at October 31, 2019. The change in the carrying amount of goodwill in 2018 was due to the acquisition of a 55% interest in TM4 and currency fluctuation. See Note 2 for additional information on recent acquisitions. Changes in the carrying amount of goodwill by segment — Light Vehicle Commercial Vehicle Off-Highway Power Technologies Total Balance, December 31, 2017 $ 3 $ 8 $ 110 $ 6 $ 127 Acquisitions 148 148 Currency impact (6 ) (5 ) (11 ) Balance, December 31, 2018 3 150 105 6 264 Acquisition 74 160 234 Impairment (6 ) (6 ) Currency impact 4 (3 ) 1 Balance, December 31, 2019 $ 3 $ 228 $ 262 $ — $ 493 Non-amortizable intangible assets — Our non-amortizable intangible assets include a portion of our trademarks and trade names. Non-amortizable trademarks and trade names consist of the Dana ® , Spicer ® and TM4 ® trademarks and trade names utilized in our Commercial Vehicle and Off-Highway segments. We value trademarks and trade names using a relief from royalty method which is based on revenue streams. No impairment was recorded during the two years ended December 31, 2019 in connection with the required annual assessment for trademarks and trade names. During the third quarter of 2012, we entered a strategic alliance with Fallbrook Technologies Inc. (Fallbrook). The transaction with Fallbrook was accounted for as a business combination and the original purchase price allocation included $20 of intangible assets used in research and development activities, which had been classified as indefinite-lived. Since the third quarter of 2012, we had been working with several customers to commercialize the continuously variable planetary (CVP) technology primarily in combustion engine applications. During the second quarter of 2018 key customers notified us of their intention to redirect their development efforts to electrification and cease further development efforts of the CVP technology in combustion engine applications. We determined that it was more likely than not that the fair value of the related intangible assets was less than their carrying amount. We used the multi-period excess earnings method, an income approach, to fair value the assets used in research and development activities. Given the lack of adequate identifiable future revenue streams, it was determined that the $20 of intangible assets used in research and development activities was fully impaired during the second quarter of 2018. Amortizable intangible assets — Our amortizable intangible assets include core technology, customer relationships and a portion of our trademarks and trade names. Core technology includes the proprietary know-how and expertise that is inherent in our products and manufacturing processes. Customer relationships include the established relationships with our customers and the related ability of these customers to continue to generate future recurring revenue and income. Amortizable trademarks and trade names includes the Graziano TM , Fairfield ® and Brevini ® trademarks and trade names utilized in our Off-Highway segment. These assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. We group the assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against the undiscounted future cash flows. We use our internal forecasts, which we update quarterly, to develop our cash flow projections. These forecasts are based on our knowledge of our customers’ production forecasts, our assessment of market growth rates, net new business, material and labor cost estimates, cost recovery agreements with customers and our estimate of savings expected from our restructuring activities. The most likely factors that would significantly impact our forecasts are changes in customer production levels and loss of significant portions of our business. Our valuation is applied over the life of the primary assets within the asset groups. If the undiscounted cash flows do not indicate that the carrying amount of the asset group is recoverable, an impairment charge is recorded if the carrying amount of the asset group exceeds its fair value based on discounted cash flow analyses or appraisals. There were no impairments recorded during the two years ended December 31, 2019. Components of other intangible assets — December 31, 2019 December 31, 2018 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Amortizable intangible assets Core technology 8 $ 133 $ (94 ) $ 39 $ 107 $ (89 ) $ 18 Trademarks and trade names 13 30 (6 ) 24 16 (4 ) 12 Customer relationships 8 509 (407 ) 102 460 (400 ) 60 Non-amortizable intangible assets Trademarks and trade names 75 75 74 74 Used in research and development activities — 20 (20 ) — $ 747 $ (507 ) $ 240 $ 677 $ (513 ) $ 164 The net carrying amounts of intangible assets, other than goodwill, attributable to each of our operating segments at December 31, 2019 were as follows: Light Vehicle – $25 , Commercial Vehicle – $62 , Off-Highway – $145 and Power Technologies – $8 . Amortization expense related to amortizable intangible assets — 2019 2018 2017 Charged to cost of sales $ 5 $ 2 $ 2 Charged to amortization of intangibles 12 8 11 Total amortization $ 17 $ 10 $ 13 The following table provides the estimated aggregate pre-tax amortization expense related to intangible assets for each of the next five years based on December 31, 2019 exchange rates. Actual amounts may differ from these estimates due to such factors as currency translation, customer turnover, impairments, additional intangible asset acquisitions and other events. 2020 2021 2022 2023 2024 Amortization expense $ 18 $ 17 $ 17 $ 17 $ 17 |
Restructuring of Operations
Restructuring of Operations | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring of Operations [Text Block] | Restructuring of Operations Our restructuring activities have historically included rationalizing our operating footprint by consolidating facilities, positioning operations in lower cost locations and reducing overhead costs. In recent years, our focus has been primarily headcount reduction initiatives to reduce operating costs, including actions taken at acquired businesses to rationalize cost structures and achieve operating synergies. Restructuring expense includes costs associated with current and previously announced actions and is comprised of contractual and noncontractual separation costs and exit costs, including certain operating costs of facilities that we are in the process of closing. Restructuring charges of $29 in 2019 were comprised of severance and benefit costs related to integration of recent acquisitions, headcount reductions across our operations and exit costs related to previously announced actions. Restructuring charges of $25 in 2018 were primarily comprised of severance and benefit costs related to a voluntary retirement program in North America, headcount reduction actions in our operations and corporate functions in Brazil and administrative cost reduction initiatives primarily in Europe and North America. In response to continued market recovery in our Off-Highway business in Europe, management re-evaluated the economic conditions of our global Off-Highway business and determined that $7 of the previously approved restructuring actions were no longer economically prudent. During 2017, we approved plans to implement certain headcount reduction initiatives in our Off-Highway business as part of the BFP and BPT acquisition integration, resulting in the recognition of $14 , primarily for severance and benefits costs, during 2017. Including costs associated with the newly approved actions during 2017 and costs associated with previously announced initiatives, net of the reversal described below, restructuring expense during 2017 was $14 , including $8 of severance and benefits costs and $6 of exit costs. During the fourth quarter of 2017, in response to better-than-expected market recovery in our Off-Highway business in Europe, management re-evaluated the economic conditions of our global Off-Highway business and determined that a portion of the previously approved 2016 restructuring program is no longer economically prudent. This change in facts and circumstances led to the decision to reverse $8 of previously accrued liabilities. Accrued restructuring costs and activity, including noncurrent portion — Employee Termination Benefits Exit Costs Total Balance, December 31, 2016 $ 32 $ 6 $ 38 Charges to restructuring 16 6 22 Adjustments of accruals (8 ) (8 ) Cash payments (21 ) (7 ) (28 ) Currency impact 2 2 Balance, December 31, 2017 21 5 26 Charges to restructuring 28 4 32 Adjustments of accruals (7 ) (7 ) Cash payments (16 ) (5 ) (21 ) Currency impact (1 ) (1 ) Balance, December 31, 2018 25 4 29 Charges to restructuring 21 10 31 Adjustments of accruals (2 ) (2 ) Cash payments (31 ) (9 ) (40 ) Currency impact — Lease cease-use reclassification (4 ) (4 ) Balance, December 31, 2019 $ 13 $ 1 $ 14 At December 31, 2019 , accrued employee termination benefits include costs to reduce approximately 200 employees over the next year. Cost to complete — The following table provides project-to-date and estimated future restructuring expenses for completion of our approved restructuring initiatives for our business segments at December 31, 2019 . Expense Recognized Future Cost to Complete Prior to 2019 2019 Total to Date Commercial Vehicle $ 35 $ 4 $ 39 $ 4 The future cost to complete primarily includes exit costs through 2021, equipment transfers and other costs which are required to be recognized as closures are finalized or as incurred during the closure. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories [Text Block] | Inventories Inventory components at December 31 — 2019 2018 Raw materials $ 470 $ 433 Work in process and finished goods 787 649 Inventory reserves (64 ) (51 ) Total $ 1,193 $ 1,031 |
Supplemental Balance Sheet and
Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Supplemental Balance Sheet and Cash Flow Information [Text Block] | Supplemental Balance Sheet and Cash Flow Information Supplemental balance sheet information at December 31 — 2019 2018 Other current assets: Prepaid expenses $ 109 $ 76 Other 28 26 Total $ 137 $ 102 Other noncurrent assets: Contract asset $ 37 $ 25 Prepaid expenses 3 3 Deferred financing costs 6 4 Pension assets, net of related obligations 4 3 Other 70 45 Total $ 120 $ 80 Property, plant and equipment, net: Land and improvements to land $ 223 $ 207 Buildings and building fixtures 621 552 Machinery and equipment 3,355 2,817 Finance lease right-of-use assets 41 Total cost 4,240 3,576 Less: accumulated depreciation (1,975 ) (1,726 ) Net $ 2,265 $ 1,850 Other accrued liabilities (current): Non-income taxes payable $ 65 $ 53 Accrued interest 11 13 Warranty reserves 36 34 Deferred income 6 6 Work place injury costs 5 5 Restructuring costs 14 26 Payable under forward contracts 5 11 Environmental 5 5 Other expense accruals 115 116 Total $ 262 $ 269 Other noncurrent liabilities: Income tax liability $ 47 $ 48 Interest rate swap market valuation 71 118 Deferred income tax liability 40 28 Work place injury costs 17 19 Warranty reserves 65 41 Restructuring costs 3 Other noncurrent liabilities 65 56 Total $ 305 $ 313 Cash, cash equivalents and restricted cash at — December 31, 2019 December 31, 2018 December 31, 2017 December 31, 2016 Cash and cash equivalents $ 508 $ 510 $ 603 $ 707 Restricted cash included in other current assets 6 7 3 5 Restricted cash included in other noncurrent assets 4 3 4 4 Total cash, cash equivalents and restricted cash $ 518 $ 520 $ 610 $ 716 Supplemental cash flow information — 2019 2018 2017 Change in working capital: Change in accounts receivable $ 134 $ (113 ) $ (141 ) Change in inventories 35 (110 ) (146 ) Change in accounts payable (96 ) 97 234 Change in accrued payroll and employee benefits (21 ) (28 ) 53 Change in accrued income taxes (19 ) (3 ) 26 Change in other current assets and liabilities (50 ) 44 (34 ) Net $ (17 ) $ (113 ) $ (8 ) Cash paid during the period for: Interest $ 117 $ 90 $ 104 Income taxes 125 145 87 Noncash investing and financing activities: Purchases of property, plant and equipment held in accounts payable $ 71 $ 91 $ 86 Stock compensation plans 17 18 17 Noncash dividends declared 1 1 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lessee, Finance Leases [Text Block] | Leases Our leases generally have remaining lease terms of 1 year to 11 years , some of which include options to extend the leases for up to 10 years . Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2019. Classification 2019 Finance lease right-of-use assets Property, plant and equipment, net $ 41 Finance lease liabilities Current portion of long-term debt 5 Finance lease liabilities Long-term debt 24 Components of lease expense — 2019 Operating lease cost $ 50 Finance lease cost: Amortization of right-of-use assets $ 3 Interest on lease liabilities 1 Total finance lease cost $ 4 Supplemental cash flow information related to leases — 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 50 Operating cash flows from finance leases 1 Financing cash flows from finance leases 3 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 24 Finance leases 13 Supplemental balance sheet information related to leases — 2019 Weighted-average remaining lease term (years): Operating leases 6 Finance leases 9 Weighted-average discount rate: Operating leases 6.0 % Finance leases 4.0 % Maturities — Operating Leases Finance Leases 2020 $ 50 $ 5 2021 42 5 2022 32 5 2023 24 4 2024 19 2 Thereafter 46 13 Total lease payments 213 34 Less: interest 31 5 Present value of lease liabilities $ 182 $ 29 Disclosures related to periods prior to adoption of ASU 2016-02 — Cash obligations under future minimum rental commitments under operating leases as of December 31, 2018 are shown in the table below. Operating lease commitments are primarily related to facilities. 2019 2020 2021 2022 2023 Thereafter Total Lease commitments $ 57 $ 41 $ 35 $ 27 $ 21 $ 64 $ 245 |
Lessee, Operating Leases [Text Block] | Leases Our leases generally have remaining lease terms of 1 year to 11 years , some of which include options to extend the leases for up to 10 years . Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2019. Classification 2019 Finance lease right-of-use assets Property, plant and equipment, net $ 41 Finance lease liabilities Current portion of long-term debt 5 Finance lease liabilities Long-term debt 24 Components of lease expense — 2019 Operating lease cost $ 50 Finance lease cost: Amortization of right-of-use assets $ 3 Interest on lease liabilities 1 Total finance lease cost $ 4 Supplemental cash flow information related to leases — 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 50 Operating cash flows from finance leases 1 Financing cash flows from finance leases 3 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 24 Finance leases 13 Supplemental balance sheet information related to leases — 2019 Weighted-average remaining lease term (years): Operating leases 6 Finance leases 9 Weighted-average discount rate: Operating leases 6.0 % Finance leases 4.0 % Maturities — Operating Leases Finance Leases 2020 $ 50 $ 5 2021 42 5 2022 32 5 2023 24 4 2024 19 2 Thereafter 46 13 Total lease payments 213 34 Less: interest 31 5 Present value of lease liabilities $ 182 $ 29 Disclosures related to periods prior to adoption of ASU 2016-02 — Cash obligations under future minimum rental commitments under operating leases as of December 31, 2018 are shown in the table below. Operating lease commitments are primarily related to facilities. 2019 2020 2021 2022 2023 Thereafter Total Lease commitments $ 57 $ 41 $ 35 $ 27 $ 21 $ 64 $ 245 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Stockholders' Equity [Text Block] | Stockholders' Equity Preferred Stock We are authorized to issue 50,000,000 of Dana preferred stock, par value $0.01 per share. There were no preferred shares outstanding at December 31, 2019 or 2018. Common Stock We are authorized to issue 450,000,000 shares of Dana common stock, par value $0.01 per share. At December 31, 2019 , there were 154,053,730 shares of our common stock issued and 143,942,539 shares outstanding, net of 10,111,191 in treasury shares. Treasury shares include those shares withheld at cost to satisfy tax obligations from stock awards issued under our stock compensation plan in addition to share repurchases noted below. Our Board of Directors declared a quarterly cash dividend of ten cents per share of common stock in each quarter of 2019 . Aggregate 2019 declared dividends total $59 and paid cash dividends total $58 . Dividends accrue on restricted stock units (RSUs) granted under our stock compensation program and will be paid in cash or additional units when the underlying units vest. Share repurchase program — On December 11, 2019 our Board of Directors approved an extension of our existing common stock share repurchase program through December 31, 2021. Under the existing program, we spent $25 to repurchase 1,432,275 shares of our common stock during the first quarter of 2019 through open market transactions. Approximately $150 remained available under the program for future share repurchases as of December 31, 2019. Changes in equity — During the first quarter of 2018, a wholly-owned subsidiary of Dana purchased the ownership interest in Dana Spicer (Thailand) Limited (a non wholly-owned consolidated subsidiary of Dana) held by ROC Spicer, Ltd. (a non wholly-owned consolidated subsidiary of Dana). Dana maintained its controlling financial interest in Dana Spicer (Thailand) Limited and accordingly accounted for the purchase as an equity transaction. The excess of the fair value of the consideration paid over the carrying value of the investment attributable to the noncontrolling interest in ROC Spicer, Ltd. was recognized as additional noncontrolling interest with a corresponding reduction of the additional paid-in capital of Dana. During the third quarter of 2018, Yulon Motor Co., Ltd. (Yulon) purchased a direct ownership interest in two of our consolidated operating subsidiaries. Yulon's ownership interest in the two consolidated operating subsidiaries did not change as a result of the transactions, as it previously owned the same percentages indirectly through a series of consolidated holding companies. The cash received from Yulon was recognized as additional noncontrolling interest. The amount received, less withholding taxes, was returned to Yulon in the form of a dividend in the fourth quarter of 2018. Changes in each component of AOCI of the parent — Parent Company Stockholders Foreign Currency Translation Hedging Investments Defined Benefit Plans Accumulated Other Comprehensive Loss Balance, December 31, 2016 $ (646 ) $ (34 ) $ — $ (604 ) $ (1,284 ) Other comprehensive income (loss): Currency translation adjustments (22 ) (22 ) Holding loss on net investment hedge (2 ) (2 ) Holding gains and losses (162 ) 1 (161 ) Reclassification of amount to net income (a) 128 128 Net actuarial losses (28 ) (28 ) Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 31 31 Tax (expense) benefit 4 1 (9 ) (4 ) Other comprehensive income (loss) (24 ) (30 ) 2 (6 ) (58 ) Balance, December 31, 2017 (670 ) (64 ) 2 (610 ) (1,342 ) Other comprehensive income (loss): Currency translation adjustments (48 ) (48 ) Holding loss on net investment hedge (3 ) (3 ) Holding gains and losses 66 66 Reclassification of amount to net income (a) (56 ) (56 ) Net actuarial losses (8 ) (8 ) Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 34 34 Other 2 2 Tax expense (5 ) (5 ) Other comprehensive income (loss) (51 ) 10 — 23 (18 ) Adoption of ASU 2016-01 financial instruments adjustment, January 1, 2018 (2 ) (2 ) Balance, December 31, 2018 (721 ) (54 ) — (587 ) (1,362 ) Other comprehensive income (loss): Currency translation adjustments 8 8 Holding gains and losses 58 58 Reclassification of amount to net income (a) (33 ) (33 ) Net actuarial gains 71 71 Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 286 286 Tax expense (1 ) (1 ) (13 ) (15 ) Other comprehensive income 7 24 — 344 375 Balance, December 31, 2019 $ (714 ) $ (30 ) $ — $ (243 ) $ (987 ) ___________________________________________________ Notes: (a) For 2019 and 2018, realized gains and losses from currency-related forward contracts associated with forecasted transactions or from other derivative instruments treated as cash flow hedges are reclassified from AOCI into the same line item in the consolidated statement of operations in which the underlying forecasted transaction or other hedged item is recorded. See Note 16 for additional details. For 2017, reclassifications from AOCI were included in other expense, net. (b) See Note 13 for additional details. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2019 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Noncontrolling Interest Disclosure [Text Block] | Redeemable Noncontrolling Interests In connection with the acquisition of a controlling interest in TM4 from Hydro-Québec on June 22, 2018, we recognized $102 for Hydro-Québec's 45% redeemable noncontrolling interest in TM4. On July 29, 2019, we broadened our relationship with Hydro-Québec, with Hydro-Québec acquiring an indirect 45% redeemable noncontrolling interest in SME and an additional indirect 22.5% redeemable noncontrolling interest in PEPS which resulted in recognition of additional redeemable noncontrolling interest of $64 . The terms of the agreement provide Hydro-Québec with the right to put all, and not less than all, of its ownership interests in TM4, SME and PEPS to Dana at fair value any time after June 22, 2021. See Note 2 for additional information. On August 8, 2018, we entered into an agreement to acquire Brevini's remaining 20% ownership interests in BFP and BPT and to settle all claims between the parties. We paid $43 to acquire Brevini's remaining ownership interests and received $10 in settlement of all pending and future claims. AOCI attributable to Brevini's redeemable noncontrolling interests was reclassified to AOCI of the parent company. The difference between the carrying value of Brevini's redeemable noncontrolling interests and the cash paid was recorded to additional paid-in capital of the parent company. See Note 2 for additional information. Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the redeemable noncontrolling interest balances adjusted for comprehensive income items and distributions or the redemption values. Redeemable noncontrolling interest adjustments of redemption value are recorded in retained earnings. During 2017 there was a $6 adjustment to reflect a redemption value in excess of carrying value. See Note 11 for additional information. Reconciliation of changes in redeemable noncontrolling interests — 2019 2018 Balance, beginning of period $ 100 $ 47 Initial fair value of redeemable noncontrolling interests of acquired businesses 102 Capital contribution from redeemable noncontrolling interest 4 3 Purchase of redeemable noncontrolling interest (46 ) Sale of redeemable noncontrolling interest 64 Comprehensive income (loss) adjustments: Net loss attributable to redeemable noncontrolling interests (6 ) Other comprehensive income (loss) attributable to redeemable noncontrolling interests 5 (6 ) Balance, end of period $ 167 $ 100 |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings per Share [Text Block] | Earnings per Share Reconciliation of the numerators and denominators of the earnings per share calculations — 2019 2018 2017 Net income attributable to the parent company $ 226 $ 427 $ 111 Less: Redeemable noncontrolling interests adjustment to redemption value (6 ) Net income available to common stockholders - Numerator basic and diluted $ 226 $ 427 $ 105 Denominator: Weighted-average common shares outstanding - Basic 144.0 145.0 145.1 Employee compensation-related shares, including stock options 1.1 1.5 1.8 Weighted-average common shares outstanding - Diluted 145.1 146.5 146.9 The share count for diluted earnings per share is computed on the basis of the weighted-average number of common shares outstanding plus the effects of dilutive common stock equivalents (CSEs) outstanding during the period. We excluded 0.1 million , 0.2 million and 0.1 million CSEs from the calculations of diluted earnings per share for the years 2019, 2018 and 2017 as the effect of including them would have been anti-dilutive. |
Stock Compensation
Stock Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Stock Compensation [Text Block] | Stock Compensation 2017 Omnibus Incentive Plan The 2017 Omnibus Incentive Plan (the Plan) authorizes the grant of stock options, stock appreciation rights (SARs), RSUs and performance share units (PSUs) through April 2027. Cash-settled awards do not count against the maximum aggregate number. At December 31, 2019 , there were 4.4 million shares available for future grants. Shares of common stock to be issued under the Plan are made available from authorized and unissued Dana common stock. Award activity — (shares in millions) Options SARs RSUs PSUs Shares Exercise Price* Shares Exercise Price* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* December 31, 2018 0.7 $ 15.33 0.1 1.8 $ 20.06 0.5 $ 22.45 Granted 1.0 17.08 0.4 16.17 Exercised or vested (0.1 ) 4.80 (0.7 ) 14.66 (0.2 ) 18.63 Forfeited or expired (0.1 ) 20.49 December 31, 2019 0.6 16.13 0.1 $ 16.27 2.0 20.56 0.7 19.99 * Weighted-average per share 2019 2018 2017 Total stock compensation expense $ 19 $ 16 $ 23 Total grant-date fair value of awards vested 16 16 17 Cash received from exercise of stock options 2 10 Cash paid to settle SARs and RSUs 2 2 4 Intrinsic value of stock options and SARs exercised 1 3 8 Intrinsic value of RSUs and PSUs vested 17 18 20 Compensation expense is generally measured based on the fair value at the date of grant and is recognized on a straight-line basis over the vesting period. For options and SARs, we use an option-pricing model to estimate fair value. For RSUs and PSUs, the fair value is based on the closing market price of our common stock at the date of grant. Awards that are settled in cash are subject to liability accounting. Accordingly, the fair value of such awards is remeasured at the end of each reporting period until settled or expired. We had accrued $3 and $2 for cash-settled awards at December 31, 2019 and 2018 . During 2019 we issued 0.7 million and 0.2 million shares of common stock based on vesting of RSUs and PSUs. At December 31, 2019 , the total unrecognized compensation cost related to the nonvested awards granted and expected to vest was $22 . This cost is expected to be recognized over a weighted-average period of 1.8 years. Stock options and stock appreciation rights — The exercise price of each option or SAR equals the closing market price of our common stock on the date of grant. Options and SARs generally vest over three years and their maximum term is ten years . Shares issued upon the exercise of options are recorded as common stock and additional paid-in capital at the option price. SARs are settled in cash for the difference between the market price on the date of exercise and the exercise price. We have not granted stock options or SARs since 2013. All outstanding awards are fully vested and exercisable. At December 31, 2019 , the outstanding awards have an aggregate intrinsic value of $1 and a weighted-average remaining contractual life of 2.2 years. Restricted stock units and performance shares units — Each RSU or PSU granted represents the right to receive one share of Dana common stock or, at the election of Dana (for units awarded to board members) or for employees located outside the U.S. (for employee awarded units), cash equal to the market value per share. All RSUs contain dividend equivalent rights. RSUs granted to non-employee directors vest on the first anniversary date of the grant and those granted to employees generally cliff vest fully after three years . PSUs granted to employees vest if specified performance goals are achieved during the respective performance period, generally three years . The number of PSUs that ultimately vest is contingent on achieving specified return on invested capital targets and specified margin targets, with an even distribution between the two targets. We estimated the fair value at grant date based on the closing market price of our common stock at the date of grant adjusted for the value of assumed dividends over the period because the awards are not dividend protected. The estimated grant date value is accrued over the performance period and adjusted as appropriate based on performance relative to the target. Cash incentive awards — Our 2017 Omnibus Incentive Plan provides for cash incentive awards. We make awards annually to certain eligible employees designated by Dana, including certain executive officers. Awards under the plan are based on achieving certain financial performance goals. The performance goals of the plan are established annually by the Board of Directors. Under the 2019, 2018 and 2017 annual incentive programs, participants were eligible to receive cash awards based on achieving earnings and cash flow performance goals. Our 2017 long-term incentive program had a performance-based cash component which had a three -year contractual vesting period. The vesting of the 2017 award was based on achieving a return on invested capital target measured on an average basis over the contractual period. The 2017 award also has a component that was based on achieving a margin target in the third year of the program that was established at the grant date. We accrued $27 , $33 and $77 of expense in 2019 , 2018 and 2017 for the expected cash payments under these programs. |
Pension and Postretirement Bene
Pension and Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plan [Abstract] | |
Pension and Postretirement Benefit Plans [Text Block] | Pension and Postretirement Benefit Plans We sponsor various defined benefit, qualified and nonqualified, pension plans covering eligible employees. Other postretirement benefits (OPEB), including medical and life insurance, are provided for certain employees upon retirement. We also sponsor various defined contribution plans that cover the majority of our employees. Under the terms of the qualified defined contribution retirement plans, employee and employer contributions may be directed into a number of diverse investments. None of these qualified defined contribution plans allow direct investment in our stock. Components of net periodic benefit cost (credit) and other amounts recognized in OCI — Pension Benefits 2019 2018 2017 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Interest cost $ 40 $ 8 $ 43 $ 7 $ 51 $ 7 Expected return on plan assets (51 ) (3 ) (71 ) (3 ) (82 ) (3 ) Service cost 8 7 7 Amortization of net actuarial loss 22 6 28 6 23 7 Settlement charge 256 3 Termination benefit 1 Curtailment (1 ) Other 2 Net periodic benefit cost (credit) 267 21 — 19 (8 ) 19 Recognized in OCI: Amount due to net actuarial (gains) losses (107 ) 33 11 4 22 4 Reclassification adjustment for net actuarial losses in net periodic benefit cost (278 ) (9 ) (28 ) (6 ) (23 ) (7 ) Curtailment (1 ) Other (2 ) Total recognized in OCI (385 ) 24 (17 ) (4 ) (1 ) (4 ) Net recognized in benefit cost (credit) and OCI $ (118 ) $ 45 $ (17 ) $ 15 $ (9 ) $ 15 OPEB 2019 2018 2017 U.S. Non-U.S. Non-U.S. Non-U.S. Interest cost $ — $ 3 $ 3 $ 3 Service cost 1 1 Amortization of net actuarial gain (1 ) Net periodic benefit cost — 2 4 4 Recognized in OCI: Amount due to net actuarial (gains) losses 1 2 (7 ) 2 Reclassification adjustment for net actuarial gain in net periodic benefit cost 1 Total recognized in OCI 1 3 (7 ) 2 Net recognized in benefit cost (credit) and OCI $ 1 $ 5 $ (3 ) $ 6 Our U.S. defined benefit pension plans are frozen and no additional service cost is being accrued. The estimated net actuarial loss for the defined benefit pension plans that will be amortized from AOCI into benefit cost in 2020 is $11 for our U.S. plans and $9 for our non-U.S. plans. We use the corridor approach for purposes of systematically amortizing deferred gains or losses as a component of net periodic benefit cost into the income statement in future reporting periods. The amortization period used is generally the average remaining service period of active participants in the plan unless almost all of the plan’s participants are inactive, in which case we use the average remaining life expectancy of the inactive participants. No portion of the estimated net actuarial gain related to OPEB plans will be amortized from AOCI into benefit cost in 2020 . In October 2017, upon authorization by the Dana Board of Directors, we commenced the process of terminating one of our U.S. defined benefit pension plans. During the second quarter of 2019, payments were made from plan assets to those plan participants that elected to take the lump-sum payout option. In June 2019, we entered into (a) a definitive commitment agreement by and among Dana, Athene Annuity and Life Company (Athene) and State Street Global Advisors, as independent fiduciary to the plan, and (b) a definitive commitment agreement by and among Dana, Companion Life Insurance Company (Companion) and State Street Global Advisors, as independent fiduciary to the plan. Pursuant to the definitive commitment agreements, the plan purchased group annuity contracts that irrevocably transferred to the insurance companies the remaining future pension benefit obligations of the plan. Plan participant’s benefits are unchanged as a result of the termination. We contributed $59 to the plan prior to the purchase of the group annuity contracts. The purchase of group annuity contracts was then funded directly by the assets of the plan in June 2019. By irrevocably transferring the obligations to Athene and Companion, we reduced our unfunded pension obligation by approximately $165 and recognized a pre-tax pension settlement charge of $256 in 2019. Funded status — The following tables provide reconciliations of the changes in benefit obligations, plan assets and funded status. Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Reconciliation of benefit obligation: Obligation at beginning of period $ 1,501 $ 364 $ 1,730 $ 377 $ — $ 83 $ 99 Interest cost 40 8 43 7 3 3 Service cost 8 7 1 Actuarial (gain) loss 13 41 (148 ) 7 1 2 (7 ) Benefit payments (90 ) (14 ) (124 ) (14 ) (1 ) (4 ) (5 ) Acquisitions 161 25 3 Settlements (853 ) (13 ) (2 ) Curtailment (1 ) Translation adjustments (6 ) (18 ) 4 (8 ) Obligation at end of period $ 772 $ 412 $ 1,501 $ 364 $ 3 $ 88 $ 83 Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Reconciliation of fair value of plan assets: Fair value at beginning of period $ 1,301 $ 71 $ 1,513 $ 71 $ — $ — $ — Actual return on plan assets 171 11 (88 ) 6 Employer contributions 59 17 16 1 4 5 Benefit payments (90 ) (14 ) (124 ) (14 ) (1 ) (4 ) (5 ) Settlements (853 ) (13 ) (2 ) Acquisitions 136 7 Translation adjustments (1 ) (6 ) Fair value at end of period $ 724 $ 78 $ 1,301 $ 71 $ — $ — $ — Funded status at end of period $ (48 ) $ (334 ) $ (200 ) $ (293 ) $ (3 ) $ (88 ) $ (83 ) Amounts recognized in the balance sheet — Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Amounts recognized in the consolidated balance sheet: Noncurrent assets $ — $ 4 $ — $ 3 $ — $ — $ — Current liabilities (13 ) (13 ) (5 ) (5 ) Noncurrent liabilities (48 ) (325 ) (200 ) (283 ) (3 ) (83 ) (78 ) Net amount recognized $ (48 ) $ (334 ) $ (200 ) $ (293 ) $ (3 ) $ (88 ) $ (83 ) Amounts recognized in AOCI — Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Amounts recognized in AOCI: Net actuarial loss (gain) $ 157 $ 108 $ 542 $ 84 $ 1 $ (12 ) $ (15 ) AOCI before tax 157 108 542 84 1 (12 ) (15 ) Deferred taxes 13 (28 ) (6 ) (22 ) 4 4 Net $ 170 $ 80 $ 536 $ 62 $ 1 $ (8 ) $ (11 ) The 2019 actuarial gain of $107 on the U.S plans was largely the result of the actual return on assets exceeding the expected asset return. The 2018 actuarial loss of $11 on the U.S plans was largely the result of the expected return on assets exceeding the actual asset return. Additionally, a custom mortality table was developed during 2018 using our historical mortality experience. These custom mortality tables are projected generationally from 2015 using the Society of Actuaries projection scale, MP-2019, modified to use a 0.75% long-term improvement rate, being attained in 2027. Aggregate funding levels — The following table presents information regarding the aggregate funding levels of our defined benefit pension plans at December 31: 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Plans with fair value of plan assets in excess of obligations: Accumulated benefit obligation $ 15 $ 17 $ 14 $ 15 Projected benefit obligation 15 17 14 16 Fair value of plan assets 16 21 15 19 Plans with obligations in excess of fair value of plan assets: Accumulated benefit obligation $ 757 $ 363 $ 1,487 $ 322 Projected benefit obligation 757 395 1,487 348 Fair value of plan assets 708 57 1,286 52 Fair value of pension plan assets — Fair Value Measurements at December 31, 2019 U.S. Non-U.S. Asset Category Total Level 1 Level 2 Level 3 NAV (a) Level 1 Level 2 Level 3 Equity securities: U.S. all cap (b) $ 39 $ 39 $ — $ — $ — $ — $ — $ — U.S. large cap 28 28 EAFE composite 19 19 Emerging markets 9 9 Fixed income securities: Corporate bonds 492 186 306 U.S. Treasury strips 37 37 Non-U.S. government securities 21 21 Emerging market debt 11 11 Alternative investments: Insurance contracts (d) 50 4 46 Real estate 20 20 Other 11 11 Cash and cash equivalents 65 65 Total $ 802 $ 39 $ 288 $ 4 $ 393 $ — $ 32 $ 46 Fair Value Measurements at December 31, 2018 U.S. Non-U.S. Asset Category Total Level 1 Level 2 NAV (a) Level 1 Level 2 Level 3 Equity securities: U.S. all cap (b) $ 35 $ 35 $ — $ — $ — $ — $ — U.S. large cap 43 43 U.S. small cap 4 4 EAFE composite 41 41 Emerging markets 28 28 Fixed income securities: U.S. bonds (c) 33 33 Corporate bonds 814 616 198 U.S. Treasury strips 115 115 Non-U.S. government securities 25 25 Emerging market debt 48 48 Alternative investments: Insurance contracts (d) 35 35 Real estate 21 21 Other 10 10 Cash and cash equivalents 120 119 1 Total $ 1,372 $ 39 $ 883 $ 379 $ — $ 36 $ 35 ________________________________ Notes: (a) Certain assets are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. (b) This category comprises a combination of small-, mid- and large-cap equity stocks that are allocated at the investment manager's discretion. Investments include common and preferred securities as well as equity funds that invest in these instruments. (c) This category represents a combination of high-yield and investment grade corporate bonds, sovereign bonds, Yankee bonds, asset-backed securities and U.S. government bonds. Investments include fixed income funds that invest in these instruments. (d) This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities. 2019 2019 2018 U.S. Non-U.S. Non-U.S. Reconciliation of Level 3 Assets Insurance Contracts Insurance Contracts Insurance Contracts Fair value at beginning of period $ — $ 35 $ 33 Actual gains relating to assets still held at the reporting date 7 4 Purchases, sales and settlements 4 5 (1 ) Currency impact (1 ) (1 ) Fair value at end of period $ 4 $ 46 $ 35 Valuation Methods Equity securities — The fair value of equity securities held directly by the trust is based on quoted market prices. When the equity securities are held in commingled funds that are not publicly traded, the fair value of our interest in the fund is its NAV as determined by quoted market prices for the underlying holdings. Fixed income securities — The fair value of fixed income securities held directly by the trust is based on a bid evaluation process with input from independent pricing sources. When the fixed income securities are held in commingled funds that are not publicly traded, the fair value of our interest in the fund is its NAV as determined by a similar valuation of the underlying holdings. Insurance contracts — The values shown for insurance contracts are the amounts reported by the insurance company and approximate the fair values of the underlying investments. Real estate — The investments in real estate represent ownership interests in commingled funds and partnerships that invest in real estate. The investment managers determine the NAV of these ownership interests using the fair value of the underlying real estate which is obtained via independent third party appraisals prepared on a periodic basis. Assumptions used to value the properties are updated quarterly. For the component of the real estate portfolio under development, the investments are carried at cost until they are completed and valued by a third party appraiser. Cash and cash equivalents — The fair value of cash and cash equivalents is set equal to its amortized cost. The methods described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we believe the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. Investment policy — Target asset allocations of U.S. pension plans are established through an investment policy, which is updated periodically and reviewed by an Investment Committee, comprised of certain company officers. The investment policy allows for a flexible asset allocation mix which is intended to provide appropriate diversification to lessen market volatility while assuming a reasonable level of economic risk. Our policy recognizes that properly managing the relationship between pension assets and pension liabilities serves to mitigate the impact of market volatility on our funding levels. The investment policy permits plan assets to be invested in a number of diverse categories, including a Growth Portfolio, an Immunizing Portfolio and a Liquidity Portfolio. These sub-portfolios are intended to balance the generation of incremental returns with the management of overall risk. The Growth Portfolio is invested in a diversified pool of assets in order to generate an incremental return with an acceptable level of risk. The Immunizing Portfolio is a hedging portfolio that may be comprised of fixed income securities and overlay positions. This portfolio is designed to offset changes in the value of the pension liability due to changes in interest rates. The Liquidity Portfolio is a cash portfolio designed to meet short-term liquidity needs and reduce the plans’ overall risk. As a result of our diversification strategies, there are no significant concentrations of risk within the portfolio of investments. The allocations among portfolios are adjusted as needed to meet changing objectives and constraints and to manage the risk of adverse changes in the unfunded positions of our plans. At December 31, 2019 , the U.S. plans had targets of 20% for the Growth Portfolio (U.S. and non-U.S. equities, high-yield fixed income, real estate, emerging market debt and cash), 78% for the Immunizing Portfolio (long duration U.S. Treasury strips, corporate bonds and cash) and 2% for the Liquidity Portfolio (cash and short-term securities). The assets held at December 31, 2019 by the U.S. plans were invested 20% in the Growth Portfolio, 77% in the Immunizing Portfolio and 3% in the Liquidity Portfolio. Significant assumptions — The significant weighted-average assumptions used in the measurement of pension benefit obligations at December 31 of each year and the net periodic benefit cost for each year are as follows: 2019 2018 2017 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Pension benefit obligations: Discount rate 3.21 % 1.72 % 4.22 % 2.42 % 3.55 % 2.25 % Net periodic benefit cost: Discount rate 3.41 % 2.50 % 2.56 % 2.54 % 3.24 % 2.34 % Rate of compensation increase N/A 3.28 % N/A 3.21 % N/A 3.33 % Expected return on plan assets 6.00 % 4.61 % 6.00 % 4.66 % 6.00 % 5.92 % The pension plan discount rate assumptions are evaluated annually in consultation with our outside actuarial advisers. Long-term interest rates on high quality corporate debt instruments are used to determine the discount rate. For our largest plans, discount rates are developed using a discounted bond portfolio analysis, with appropriate consideration given to defined benefit payment terms and duration of the liabilities. In the above table, the discount rate used to determine U.S. pension obligations at the end of 2017 and 2018 does not consider the terminated plan which had an implied discount rate of 3.46% . For pension and other postretirement benefit plans that utilize a full yield curve approach to estimate the interest and service components of net periodic benefit cost, we apply the specific spot rates along the yield curve used in the most recent remeasurement of the benefit obligation to the relevant projected cash flows. We believe this method improves the correlation between the projected cash flows and the corresponding interest rates and provides a more precise measurement of interest and service costs. Since the remeasurement of total benefit obligations is not affected, the resulting reduction in periodic benefit cost is offset by an increase in the actuarial loss. The expected rate of return on plan assets was selected on the basis of our long-term view of return and risk assumptions for major asset classes. We define long-term as forecasts that span at least the next ten years . Our long-term outlook is influenced by a combination of return expectations by individual asset class, actual historical experience and our diversified investment strategy. We consult with and consider the opinions of financial professionals in developing appropriate capital market assumptions. Return projections are also validated using a simulation model that incorporates yield curves, credit spreads and risk premiums to project long-term prospective returns. The appropriateness of the expected rate of return is assessed on an annual basis and revised if necessary. We have a high percentage of total assets in fixed income securities since the benefit accruals are frozen for all of our U.S. pension plans. Based on this assessment, we have selected a 5.00% expected return on asset assumption for 2020 for our U.S. plans. The significant weighted-average assumptions used in the measurement of OPEB obligations at December 31 of each year and the net periodic benefit cost for each year are as follows: 2019 2018 2017 U.S. Non-U.S. Non-U.S. Non-U.S. OPEB benefit obligations: Discount rate 3.37 % 3.10 % 3.71 % 3.41 % Net periodic benefit cost: Discount rate 4.08 % 3.76 % 3.42 % 3.70 % Initial health care cost trend rate N/A 4.22 % 4.12 % 5.07 % Ultimate health care cost trend rate N/A 4.93 % 5.10 % 5.07 % Year ultimate reached N/A 2023 2023 2018 The discount rate selection process was similar to the process used for the pension plans. Assumed health care cost trend rates have a significant effect on the health care obligation. To determine the trend rates, consideration is given to the plan design, recent experience and health care economics. A one-percentage-point change in assumed health care cost trend rates would have the following effects for 2019 : 1% Point Increase 1% Point Decrease Effect on total of service and interest cost components $ — $ — Effect on OPEB obligations 9 (8 ) Estimated future benefit payments and contributions — Expected benefit payments by our pension and OPEB plans for each of the next five years and for the following five-year period are as follows: Pension Benefits OPEB Year U.S. Non-U.S. U.S. Non-U.S. 2020 $ 52 $ 19 $ — $ 5 2021 52 15 5 2022 52 17 5 2023 51 17 5 2024 50 20 5 2025 to 2029 236 103 1 24 Total $ 493 $ 191 $ 1 $ 49 Pension benefits are funded through deposits with trustees that satisfy, at a minimum, the applicable funding regulations. OPEB benefits are funded as they become due. Projected contributions to be made during 2020 to the defined benefit pension plans are $1 for our U.S. plans and $16 for our non-U.S. plans. Multi-employer pension plans — We participate in the Steelworkers Pension Trust (SPT) multi-employer pension plan which provides pension benefits to certain of our U.S. employees represented by the United Steelworkers and United Automobile Workers unions. Contributions are made in accordance with our collective bargaining agreements and rates are generally based on hours worked. The collective bargaining agreements expire August 18, 2021. The trustees of the SPT have provided us with the latest data available for the plan year ended December 31, 2019 . As of that date, the plan is not fully funded. We could be held liable to the plan for our obligations as well as those of other employers as a result of our participation in the plan. Contribution rates could increase if the plan is required to adopt a funding improvement plan or a rehabilitation plan, if the performance of plan assets does not meet expectations or as a result of future collectively bargained wage and benefit agreements. If we choose to stop participating in the plan, we may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability. The Pension Protection Act (PPA) defines a zone status for each plan. Plans in the green zone are at least 80% funded, plans in the yellow zone are at least 65% funded and plans in the red zone are generally less than 65% funded. The SPT plan has utilized extended amortization provisions to amortize its losses from 2008. The plan recertified its zone status after using the extended amortization provisions as allowed by law. The SPT plan has not implemented a funding improvement or rehabilitation plan, nor are such plans pending. Our contributions to the SPT exceeded 5% of the total contributions to the plan. Employer Identification Number/ Plan Number PPA Zone Status Funding Plan Pending/ Implemented Contributions by Dana Surcharge Imposed Pension Fund 2019 2018 2019 2018 2017 SPT 23-6648508 / 499 Green Green No $ 13 $ 12 $ 11 No |
Marketable Securities
Marketable Securities | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities [Text Block] | Marketable Securities 2019 2018 Cost Unrealized Gains (Losses) Fair Value Cost Unrealized Gains (Losses) Fair Value U.S. government securities $ — $ — $ — $ 2 $ — $ 2 Corporate securities — 4 4 Certificates of deposit 19 19 15 15 Total marketable securities $ 19 $ — $ 19 $ 21 $ — $ 21 U.S. government securities include bonds issued by government-sponsored agencies and Treasury notes. Corporate securities are primarily debt securities. Certificates of deposit maturing in one year or less total $19 at December 31, 2019 . |
Financing Agreements
Financing Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Financing Agreements [Text Block] | Financing Agreements Long-term debt at December 31 — Interest 2019 2018 Senior Notes due September 15, 2023 6.000% $ — $ 300 Senior Notes due December 15, 2024 5.500% 425 425 Senior Notes due April 15, 2025 5.750% * 400 400 Senior Notes due June 1, 2026 6.500% * 375 375 Senior Notes due November 15, 2027 5.375% 300 — Term Facility A 474 265 Term Facility B 349 — Other indebtedness 61 28 Debt issuance costs (28 ) (18 ) 2,356 1,775 Less: Current portion of long-term debt 20 20 Long-term debt, less debt issuance costs $ 2,336 $ 1,755 * In conjunction with the issuance of the April 2025 Notes we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . In conjunction with the issuance of the June 2026 Notes we entered into 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro-denominated debt at a fixed rate of 5.140% . See Note 16 for additional information. Interest on the senior notes is payable semi-annually and interest on the Term Facilities is payable quarterly. Other indebtedness includes the note payable to SME, borrowings from various financial institutions, finance lease obligations and the unamortized fair value adjustment related to a terminated interest rate swap. See Note 2 for additional information on the note payable to SME and Note 16 for additional information on the terminated interest rate swap. Scheduled principal payments on long-term debt, excluding finance leases at December 31, 2019 — 2020 2021 2022 2023 2024 Maturities $ 15 $ 31 $ 30 $ 30 $ 821 Senior notes activity — In November 2019, we completed the sale of $300 in senior unsecured notes (November 2027 Notes) at 5.375% . The November 2027 Notes rank equally with Dana's other unsecured senior notes. Interest on the notes is payable on May 15 and November 15 of each year, beginning on May 15, 2020. The November 2027 Notes will mature on November 15, 2027. Net proceeds of the offering totaled $296 . Financing costs of $4 were recorded as deferred costs and are being amortized to interest expense over the life of the notes. The proceeds from the offering were used to redeem our September 2023 Notes. On November 22, 2019, we redeemed $162 of our September 2023 Notes pursuant to a tender offer at a weighted average price equal to 102.250% plus accrued and unpaid interest. On November 26, 2019, we called the remaining $138 of our September 2023 Notes at a price equal to 102.000% plus accrued and unpaid interest. The $9 loss on extinguishment of debt recorded in November 2019 includes the redemption premiums and transaction costs associated with the tender offer and the call and the write-off of $2 of previously deferred financing costs associated with the September 2023 Notes. On April 4, 2017, Dana Financing Luxembourg S.à r.l., a wholly-owned subsidiary of Dana, issued $400 in senior notes (April 2025 Notes) at 5.750% , which are guaranteed by Dana. The April 2025 Notes were issued through a private placement and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act). The April 2025 Notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and, outside the United States, only to non-U.S. investors in reliance on Regulation S under the Securities Act. The April 2025 Notes rank equally with Dana's other unsecured senior notes. Interest on the notes is payable on April 15 and October 15 of each year. The April 2025 Notes will mature on April 15, 2025. Net proceeds of the offering totaled $394 . Financing costs of $6 were recorded as deferred costs and are being amortized to interest expense over the life of the April 2025 Notes. The proceeds from the offering were used to repay indebtedness of our BPT and BFP subsidiaries, repay indebtedness of a wholly-owned subsidiary in Brazil, redeem $100 of our September 2021 Notes and for general corporate purposes. The September 2021 Notes were redeemed on April 4, 2017 at a price equal to 104.031% plus accrued and unpaid interest. The $6 loss on extinguishment of debt includes the $4 redemption premium and the $1 write-off of previously deferred financing costs associated with the September 2021 Notes and the $1 redemption premium associated with the repayment of indebtedness of a wholly-owned subsidiary in Brazil. In conjunction with the issuance of the April 2025 Notes, we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . See Note 16 for additional information. On September 18, 2017, we redeemed the remaining $350 of our September 2021 Notes at a price equal to 102.688% plus accrued and unpaid interest. The $13 loss on extinguishment of debt includes the $10 redemption premium and the $3 write-off of previously deferred financing costs associated with the September 2021 Notes. Senior notes redemption provisions — We may redeem some or all of the senior notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date, if redeemed during the 12-month period commencing on the anniversary date of the senior notes in the years set forth below: Redemption Price December April June November Year 2024 Notes 2025 Notes 2026 Notes 2027 Notes 2020 101.833 % 104.313 % 2021 100.917 % 102.875 % 103.250 % 2022 100.000 % 101.438 % 102.167 % 102.688 % 2023 100.000 % 100.000 % 101.083 % 101.344 % 2024 100.000 % 100.000 % 100.000 % 2025 100.000 % 100.000 % 2026 100.000 % At any time prior to April 15, 2020, we may redeem up to 35% of the aggregate principal amount of the April 2025 Notes in an amount not to exceed the amount of proceeds of one or more equity offerings, at a price equal to 105.750% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, provided that at least 50% of the original aggregate principal amount of the April 2025 Notes remains outstanding after the redemption. Prior to April 15, 2020, we may redeem some or all of the April 2025 Notes at a redemption price of 100.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a “make-whole” premium. We have not separated the make-whole premium from the underlying debt instrument to account for it as a derivative instrument as the economic characteristics and the risks of this embedded derivative are clearly and closely related to the economic characteristics and risks of the underlying debt. Prior to June 1, 2021, we may redeem some or all of the June 2026 Notes at a redemption price of 100.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a “make-whole” premium. We have not separated the make-whole premium from the underlying debt instrument to account for it as a derivative instrument as the economic characteristics and the risks of this embedded derivative are clearly and closely related to the economic characteristics and risks of the underlying debt. At any time prior to November 15, 2022, we may redeem up to 35% of the aggregate principal amount of the November 2027 Notes in an amount not to exceed the amount of proceeds of one or more equity offerings, at a price equal to 105.375% of the principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date, provided that at least 50% of the original aggregate principal amount of the November 2027 Notes remains outstanding after the redemption. Prior to November 15, 2022, we may redeem some or all of the November 2027 Notes at a redemption price of 100.000% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date plus a “make-whole” premium. We have not separated the make-whole premium from the underlying debt instrument to account for it as a derivative instrument as the economic characteristics and the risks of this embedded derivative are clearly and closely related to the economic characteristics and risks of the underlying debt. Credit agreement — On February 28, 2019, we entered into an amended credit and guaranty agreement comprised of a $500 term facility (the Term A Facility), a $450 term facility (the Term B Facility and, together with the Term A Facility, the Term Facilities) and a $750 revolving credit facility (the Revolving Facility). The Term A Facility and the Revolving Facility were expansions of our existing facilities. On February 28, 2019, we drew the $225 available under the Term A Facility and the $450 available under the Term B Facility. The proceeds from the Term Facilities were used to acquire the Oerlikon Drive Systems segment of the Oerlikon Group and pay for related integration activities. On September 14, 2017, we borrowed $275 under the Term A Facility, using the proceeds to repay our September 2021 Notes and for general corporate purposes. We were required to make equal quarterly installments on the Term A Facility on the last day of each fiscal quarter of $8 beginning March 31, 2019 and 0.25% of the aggregate principal advances of the Term B Facility quarterly commencing on June 30, 2019. On August 30, 2019, we amended our credit and guaranty agreement, increasing the Revolving Facility to $1,000 and extending the maturities and reducing the interest rates of both the Revolving Facility and the Term A Facility. On August 30, we borrowed $100 on the Revolving Facility and paid down a similar amount of the Term B Facility. Outstanding borrowings on the Revolving Facility are included in short-term debt. We are now required to make quarterly installments on the Term A Facility on the last day of each fiscal quarter of $7 beginning on September 30, 2020 and are no longer required to make quarterly installments on the Term B Facility. We may prepay some or all of the amounts under the Term Facilities without penalty. We recorded deferred fees of $13 and $4 related to the amendments to the Term Facilities and the Revolving Facility, respectively. The deferred fees are being amortized over the life of the applicable facilities. Deferred financing costs on our Revolving Facility are included in other noncurrent assets. The Revolving Facility and the Term A Facility mature on August 17, 2024. The Term B Facility matures on February 28, 2026. The Term Facilities and the Revolving Facility are guaranteed by all of our wholly-owned domestic subsidiaries subject to certain exceptions (the guarantors) and are secured by a first-priority lien on substantially all of the assets of Dana and the guarantors, subject to certain exceptions. Advances under the Term A Facility and Revolving Facility bear interest at a floating rate based on, at our option, the base rate or Eurodollar rate (each as described in the credit agreement) plus a margin as set forth below: Margin Total Net Leverage Ratio Base Rate Eurodollar Rate Less than or equal to 1.00:1.00 0.25 % 1.25 % Greater than 1.00:1.00 but less than or equal to 2.00:1.00 0.50 % 1.50 % Greater than 2.00:1.00 0.75 % 1.75 % The Term B Facility bears interest based on, at our option, the Base Rate plus 1.25% or the Eurodollar rate plus 2.25% . We have elected to pay interest on our advances under the Term Facilities at the Eurodollar Rate. The interest rate on the Term A Facility was 3.30% and the Term B Facility was 4.05% , inclusive of the applicable margins, as of December 31, 2019. Commitment fees are applied based on the average daily unused portion of the available amounts under the Revolving Facility as set forth below: Total Net Leverage Ratio Commitment Fee Less than or equal to 1.00:1.00 0.250 % Greater than 1.00:1.00 but less than or equal to 2.00:1.00 0.375 % Greater than 2.00:1.00 0.500 % Up to $275 of the Revolving Facility may be applied to letters of credit, which reduces availability. We pay a fee for issued and undrawn letters of credit in an amount per annum equal to the applicable margin for Eurodollar rate advances based on a quarterly average availability under issued and undrawn letters of credit under the Revolving Facility and a per annum fronting fee of 0.125% , payable quarterly. At December 31, 2019 , we had no outstanding borrowings under the Revolving Facility but we had utilized $21 for letters of credit. We had availability at December 31, 2019 under the Revolving Facility of $979 after deducting the outstanding letters of credit. Debt covenants — At December 31, 2019 , we were in compliance with the covenants of our financing agreements. Under the Term Facilities, Revolving Facility and the senior notes, we are required to comply with certain incurrence-based covenants customary for facilities of these types and, in the case of the Term A Facility and Revolving Facility, a maintenance covenant tested on the last day of each fiscal quarter requiring us to maintain a first lien net leverage ratio not to exceed 2.00 to 1.00. |
Fair Value Measurements and Der
Fair Value Measurements and Derivatives | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Derivatives [Text Block] | Fair Value Measurements and Derivatives In measuring the fair value of our assets and liabilities, we use market data or assumptions that we believe market participants would use in pricing an asset or liability including assumptions about risk when appropriate. Our valuation techniques include a combination of observable and unobservable inputs. Fair value measurements on a recurring basis — Assets and liabilities that are carried in our balance sheet at fair value are as follows: Fair Value Category Balance Sheet Location Fair Value Level December 31, 2019 December 31, 2018 Available-for-sale securities Marketable securities 2 $ 19 $ 21 Currency forward contracts Cash flow hedges Accounts receivable - Other 2 14 6 Cash flow hedges Other accrued liabilities 2 2 5 Undesignated Accounts receivable - Other 2 1 2 Undesignated Other accrued liabilities 2 1 1 Interest rate collars Other accrued liabilities 2 3 Currency swaps Cash flow hedges Other noncurrent liabilities 2 71 118 Fair Value Level 1 assets and liabilities reflect quoted prices in active markets. Fair Value Level 2 assets and liabilities reflect the use of significant other observable inputs. Fair value of financial instruments — The financial instruments that are not carried in our balance sheet at fair value are as follows: 2019 2018 Fair Value Level Carrying Value Fair Value Carrying Value Fair Value Senior notes 2 $ 1,500 $ 1,570 $ 1,500 $ 1,442 Term Facility 2 823 823 265 265 Other indebtedness* 2 61 57 28 23 Total $ 2,384 $ 2,450 $ 1,793 $ 1,730 * The carrying value includes the unamortized portion of a fair value adjustment related to a terminated interest rate swap at both dates. Interest rate derivatives — Our portfolio of derivative financial instruments periodically includes interest rate swaps designed to mitigate our interest rate risk. As of December 31, 2019 , no fixed-to-floating interest rate swaps were outstanding. However, a $5 fair value adjustment to the carrying amount of our December 2024 Notes, associated with a fixed-to-floating interest rate swap that had been executed but was subsequently terminated during 2015, remains deferred at December 31, 2019 . This amount is being amortized as a reduction of interest expense through the period ending December 2024, the scheduled maturity date of the December 2024 Notes. Approximately $1 was amortized as a reduction of interest expense during the year ended December 31, 2019 . We have outstanding interest rate collars with a notional value of $425 that will mature in December 2021. For interest rate collars, no payments or receipts are exchanged unless interest rates rise or fall in excess of a predetermined ceiling or floor rate. Foreign currency derivatives — Our foreign currency derivatives include forward contracts associated with forecasted transactions, primarily involving the purchases and sales of inventory through the next eighteen months , as well as currency swaps associated with certain recorded external notes payable and intercompany loans receivable and payable. Periodically, our foreign currency derivatives also include net investment hedges of certain of our investments in foreign operations. We have executed fixed-to-fixed cross-currency swaps in conjunction with the issuance of certain notes to eliminate the variability in the functional-currency-equivalent cash flows due to changes in exchange rates associated with the forecasted principal and interest payments. All of the underlying designated financial instruments, and any subsequent replacement debt, have been designated as the hedged items in each respective cash flow hedge relationship, as shown in the table below. Designated as cash flow hedges of the forecasted principal and interest payments of the underlying designated financial instruments, or subsequent replacement debt, all of the swaps economically convert the underlying designated financial instruments into the functional currency of each respective holder. The impact of the interest rate differential between the inflow and outflow rates on all fixed-to-fixed cross-currency swaps is recognized during each period as a component of interest expense. The following fixed-to-fixed cross-currency swaps were outstanding at December 31, 2019 : Underlying Financial Instrument Derivative Financial Instrument Description Type Face Amount Rate Designated Notional Amount Traded Amount Inflow Rate Outflow Rate June 2026 Notes Payable $ 375 6.50 % $ 375 € 338 6.50 % 5.14 % April 2025 Notes Payable $ 400 5.75 % $ 400 € 371 5.75 % 3.85 % Luxembourg Intercompany Notes Receivable € 281 3.91 % € 281 $ 300 6.00 % 3.91 % All of the swaps are expected to be highly effective in offsetting the corresponding currency-based changes in cash outflows related to the underlying designated financial instruments. Based on our qualitative assessment that the critical terms of all of the underlying designated financial instruments and all of the associated swaps match and that all other required criteria have been met, we do not expect to incur any ineffectiveness. As effective cash flow hedges, changes in the fair value of the swaps will be recorded in OCI during each period. Additionally, to the extent the swaps remain effective, the appropriate portion of AOCI will be reclassified to earnings each period as an offset to the foreign exchange gain or loss resulting from the remeasurement of the underlying designated financial instruments. See Note 15 for additional information about the June 2026 Notes and the April 2025 Notes. To the extent the swaps are no longer effective, changes in their fair values will be recorded in earnings. The total notional amount of outstanding foreign currency forward contracts, involving the exchange of various currencies, was $508 at December 31, 2019 and $1,007 at December 31, 2018 . The total notional amount of outstanding foreign currency swaps, including the fixed-to-fixed cross-currency swaps, was $1,090 at December 31, 2019 and $1,097 at December 31, 2018 . The following currency derivatives were outstanding at December 31, 2019 : Notional Amount (U.S. Dollar Equivalent) Functional Currency Traded Currency Designated Undesignated Total Maturity U.S. dollar Mexican peso, euro $ 161 $ 16 $ 177 Mar-21 Euro U.S. dollar, Canadian dollar, Hungarian forint, British pound, Swiss franc, Indian rupee, Russian ruble, Chinese renminbi, Mexican peso, Australian dollar, Japanese yen 110 21 131 Jan-24 British pound U.S. dollar, euro 2 5 7 Nov-20 Swedish krona euro 1 1 Jan-20 South African rand U.S. dollar, euro, Thai baht 7 4 11 Dec-20 Canadian dollar U.S. dollar 11 11 Feb-21 Thai baht U.S. dollar, euro 14 38 52 Sep-20 Brazilian real U.S. dollar, euro 64 10 74 Dec-20 Indian rupee U.S. dollar, British pound, euro 37 37 Dec-20 Chinese renminbi U.S. dollar, Canadian dollar, euro 7 7 Feb-20 Total forward contracts 369 139 508 U.S. dollar Euro 315 315 Sep-23 Euro U.S. dollar 775 775 Jun-26 Total currency swaps 1,090 — 1,090 Total currency derivatives $ 1,459 $ 139 $ 1,598 Designated cash flow hedges — With respect to contracts designated as cash flow hedges, changes in fair value during the period in which the contracts remain outstanding are reported in OCI to the extent such contracts remain effective. Effectiveness is measured by using regression analysis to determine the degree of correlation between the change in the fair value of the derivative instrument and the change in the associated foreign currency exchange rates. Changes in fair value of contracts not designated as cash flow hedges or as net investment hedges are recognized in other expense, net in the period in which the changes occur. Realized gains and losses from currency-related forward contracts associated with forecasted transactions or from other derivative instruments, including those that have been designated as cash flow hedges and those that have not been designated, are recognized in the same line item in the consolidated statement of operations in which the underlying forecasted transaction or other hedged item is recorded. Accordingly, amounts are potentially recorded in sales, cost of sales or, in certain circumstances, other expense, net. The following table provides a summary of deferred gains (losses) reported in AOCI as well as the amount expected to be reclassified to income in one year or less: Deferred Gain (Loss) in AOCI December 31, 2019 December 31, 2018 Gain (loss) expected to be reclassified into income in one year or less Forward Contracts $ 6 $ 2 $ 6 Collar (3 ) Cross-Currency Swaps (36 ) (60 ) Total $ (33 ) $ (58 ) $ 6 The following table provides a summary of the location and amount of gains or losses recognized in the consolidated statement of operations associated with cash flow hedging relationships: 2019 Derivatives Designated as Cash Flow Hedges Net sales Cost of sales Other expense, net Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 8,620 $ 7,489 $ 25 (Gain) or loss on cash flow hedging relationships Foreign currency forwards Amount of (gain) loss reclassified from AOCI into income (9 ) Cross-currency swaps Amount of (gain) loss reclassified from AOCI into income (24 ) 2018 Derivatives Designated as Cash Flow Hedges Net sales Cost of sales Other expense, net Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 8,143 $ 6,986 $ 29 (Gain) or loss on cash flow hedging relationships Foreign currency forwards Amount of (gain) loss reclassified from AOCI into income (1 ) Cross-currency swaps Amount of (gain) loss reclassified from AOCI into income (55 ) The amounts reclassified from AOCI into income for the cross-currency swaps represent an offset to a foreign exchange loss on our foreign currency-denominated intercompany and external debt instruments. Certain of our hedges of forecasted transactions have not formally been designated as cash flow hedges. As undesignated forward contracts, the changes in the fair value of such contracts are included in earnings for the duration of the outstanding forward contract. Any realized gain or loss on the settlement of such contracts is recognized in the same period and in the same line item in the consolidated statement of operations as the underlying transaction. The following table provides a summary of the location and amount of gains or losses recognized in the consolidated statement of operations associated with undesignated hedging relationships. Amount of Gain (Loss) Recognized in Income Derivatives Not Designated as Hedging Instruments 2019 2018 Foreign currency forward contracts $ — $ (5 ) Cost of sales Foreign currency forward contracts (14 ) (5 ) Other expense, net During the first quarter of 2019 we settled the outstanding undesignated Swiss franc notional deal contingent forward related to the ODS acquisition for $21 , resulting in a realized loss of $13 included in other expense, net in the first quarter of 2019. Net investment hedges — We periodically designate derivative contracts or underlying non-derivative financial instruments as net investment hedges. With respect to contracts designated as net investment hedges, we apply the forward method, but for non-derivative financial instruments designated as net investment hedges, we apply the spot method. Under both methods, we report changes in fair value in the CTA component of OCI during the period in which the contracts remain outstanding to the extent such contracts and non-derivative financial instruments remain effective. In 2017, we designated the principal amount of an existing non-derivative Mexican peso-denominated intercompany note payable (the "MXN-denominated intercompany note") by Dana European Holdings Luxembourg S.à r.l. to Dana de Mexico Corporacion S. de R.L. de C.V., one of our Mexican subsidiaries, as a net investment hedge of the equivalent portion of the investment in the associated Mexican operations. During the third quarter of 2018 the intercompany note was repaid and no additional net investment hedges are outstanding. On a cumulative basis, a deferred loss of $4 has been recorded in the CTA component of AOCI for this non-derivative instrument. Amounts recorded in CTA remain deferred in AOCI until such time as the investments in the associated subsidiaries are substantially liquidated. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Product liabilities — We had accrued $10 and $19 for product liability costs at December 31, 2019 and 2018 . We had also recognized amounts recoverable from third parties of $13 and $24 at the respective dates. Payments made to claimants precede recovery of amounts from third parties, and may result in recoverable amounts in excess of the total liability. We estimate these liabilities based on current information and assumptions about the value and likelihood of the claims against us. Environmental liabilities — Accrued environmental liabilities were $13 and $10 at December 31, 2019 and 2018. We consider the most probable method of remediation, current laws and regulations and existing technology in estimating our environmental liabilities. Guarantee of lease obligations — In connection with the divestiture of our Structural Products business in 2010, leases covering three U.S. facilities were assigned to a U.S. affiliate of Metalsa. Under the terms of the sale agreement, we will guarantee the affiliate’s performance under the leases, which run through June 2025, including approximately $6 of annual payments. In the event of a required payment by Dana as guarantor, we are entitled to pursue full recovery from Metalsa of the amounts paid under the guarantee and to take possession of the leased property. Other legal matters — We are subject to various pending or threatened legal proceedings arising out of the normal course of business or operations. In view of the inherent difficulty of predicting the outcome of such matters, we cannot state what the eventual outcome of these matters will be. However, based on current knowledge and after consultation with legal counsel, we believe that any liabilities that may result from these proceedings will not have a material adverse effect on our liquidity, financial condition or results of operations. |
Warranty Obligations
Warranty Obligations | 12 Months Ended |
Dec. 31, 2019 | |
Product Warranties Disclosures [Abstract] | |
Warranty Obligations [Text Block] | Warranty Obligations We record a liability for estimated warranty obligations at the dates our products are sold. We record the liability based on our estimate of costs to settle future claims. Adjustments to our estimated costs at time of sale are made as claim experience and other new information becomes available. Obligations for service campaigns and other occurrences are recognized as adjustments to prior estimates when the obligation is probable and can be reasonably estimated. Changes in warranty liabilities — 2019 2018 2017 Balance, beginning of period $ 75 $ 76 $ 66 Acquisitions 24 6 Amounts accrued for current period sales 35 37 32 Adjustments of prior estimates 2 (1 ) 11 Settlements of warranty claims (35 ) (35 ) (42 ) Currency impact (2 ) 3 Balance, end of period $ 101 $ 75 $ 76 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes [Text Block] | Income Taxes Income tax expense (benefit) — 2019 2018 2017 Current U.S. federal and state $ 13 $ 14 $ 6 Non-U.S. 92 128 98 Total current 105 142 104 Deferred U.S. federal and state (104 ) (47 ) 164 Non-U.S. (33 ) (17 ) 15 Total deferred (137 ) (64 ) 179 Total expense (benefit) $ (32 ) $ 78 $ 283 We record interest and penalties related to uncertain tax positions as a component of income tax expense or benefit. Net interest expense for the periods presented herein is not significant. Income before income taxes — 2019 2018 2017 U.S. operations $ (166 ) $ 26 $ 60 Non-U.S. operations 337 468 320 Earnings before income taxes $ 171 $ 494 $ 380 Income tax audits — We conduct business globally and, as a result, file income tax returns in multiple jurisdictions that are subject to examination by taxing authorities throughout the world. With few exceptions, we are no longer subject to U.S. federal, state and local or foreign income tax examinations for years before 2009. We are currently under audit by U.S. and foreign authorities for certain taxation years. When the issues related to these periods are settled, the total amounts of unrecognized tax benefits for all open tax years may be modified. Audit outcomes and the timing of the audit settlements are subject to uncertainty and we cannot make an estimate of the impact on our financial position at this time. U.S. tax reform legislation — On December 22, 2017, the Tax Cuts and Jobs Act ("Act") was signed into law in the U.S. The Act includes a broad range of tax reforms, certain of which were required by GAAP to be recognized upon enactment. Based on our historical financial performance in the U.S., at December 31, 2017, we had a significant net deferred tax asset position. As such, with the Act's reduction of the corporate tax rate from 35% to 21% , we remeasured our net deferred tax assets at the lower corporate rate of 21% and recognized tax expense to adjust net deferred tax assets to the reduced value. The Act introduced provisions that fundamentally change the U.S. approach to taxation of foreign earnings. Under the Act, qualified dividends of foreign subsidiaries are no longer subject to U.S. tax. Under the previously-existing tax rules, dividends from foreign operations were subjected to U.S. tax, and if not considered permanently reinvested, we had recognized expense and recorded a liability for the tax expected to be incurred upon receipt of the dividend of these foreign earnings. Although the Act excludes dividends of foreign subsidiaries from taxation, it included a provision for a mandatory deemed dividend of undistributed foreign earnings at tax rates of 15.5% or 8% ("transition tax") depending on the nature of the foreign operations' assets. Companies may utilize tax attributes (including net operating losses and tax credits) to offset the transition tax. The net effect of applying the provisions of the Act on our 2017 results of operations was a non-cash charge to tax expense of $186 . Beginning in 2018, the Act may also trigger a taxable deemed dividend to the extent that the annual earnings of our foreign subsidiaries exceed a specified threshold, based on the value of tangible foreign operating assets. The deemed dividend, if any, from this global intangible low-taxed income (GILTI) may be offset by the use of other tax attributes in that year, and specifically, the GILTI rules may impact the amount of cash tax savings that net operating losses provide. The SEC staff has indicated that a company should make and disclose certain policy elections related to accounting for GILTI. As to whether we will recognize deferred taxes for basis differences expected to reverse as GILTI or account for the effect of GILTI as a period cost when incurred, we intend to account for the tax effect of GILTI as a period cost. As to the realizability of the tax benefit provided by net operating losses, we are electing to utilize the tax law ordering approach. Effective tax rate reconciliation — 2019 2018 2017 U.S. federal income tax rate 21 % 21 % 35 % Adjustments resulting from: State and local income taxes, net of federal benefit (1 ) 1 1 Non-U.S. income (expense) 15 5 (11 ) Credits and tax incentives (37 ) (18 ) (16 ) Foreign derived intangible income (2 ) U.S. tax on non-U.S. earnings 12 3 12 Intercompany sale of certain operating assets 1 (6 ) Settlement and return adjustments (11 ) 6 (2 ) Enacted change in tax laws 2 1 49 Pension settlement 43 Miscellaneous items (1 ) 1 Valuation allowance adjustments (60 ) (4 ) 11 Effective income tax rate (19 )% 16 % 74 % During 2019, we recognized a benefit of $22 for the release of valuation allowance in a subsidiary in Brazil based on recent history of profitability and increased income projections. A pre-tax pension settlement charge of $259 was recorded, resulting in income tax expense of $11 and a valuation allowance release of $18 . For the year, we also recognized benefits for the release of valuation allowance in the US of $34 based on increased income projections and $30 based on the development of a tax planning strategy related to federal tax credits. Partially offsetting this benefit in the US was $6 of expense related to a US state law change. During the second quarter of 2019, we also recorded tax benefits of $48 related to tax actions that adjusted federal tax credits. During 2018, we recognized a benefit of $44 related to U.S. state law changes and the development and implementation of a tax planning strategy which adjusted federal tax credits, along with federal and state net operating losses and the associated valuation allowances. We also recognized benefits of $11 relating to the reversal of a provision for an uncertain tax position, $5 relating to the release of valuation allowances in the US based on improved income projections and $7 due to permanent reinvestment assertions. Partially offsetting these benefits was $5 of expense to settle outstanding tax matters in a foreign jurisdiction. The net effect in 2017 of applying the U.S. tax reform provisions of the Act was tax expense of $186 . This impact, which increased the effective rate for 2017 by 49% , was principally attributable to the reduction of net deferred tax assets to reflect the reduced corporate tax rate. Foreign tax credits of $49 which were generated in 2017 but not utilized to offset the transition tax are included as a benefit in the credits and incentives component of the effective rate reconciliation, with an offsetting expense of $49 in the valuation allowance component to recognize that such credits were not likely to be realized. Foreign income repatriation — Prior to the U.S. tax reform provisions enacted with passage of the Act, we provided for U.S. federal income and non-U.S. withholding taxes on the earnings of our non-U.S. operations that are not considered to be permanently reinvested. As indicated above, with passage of the Act, dividends of earnings from non-U.S. operations are generally no longer subjected to U.S. income tax. Accordingly, in the fourth quarter of 2017, we reduced the previously recorded liability for U.S. income tax on expected repatriations of non-U.S. earnings. We continue to analyze and adjust the estimated impact of the non-U.S. income and withholding tax liabilities based on the amount and source of these earnings, as well as the expected means through which those earnings may be taxed. We recognized a net expense of $3 in 2019, net benefit of $7 in 2018, and net expense of $2 in 2017 related to future income taxes and non-U.S. withholding taxes on repatriations from operations that are not permanently reinvested. We also paid withholding taxes of $10 , $11 and $7 during 2019 , 2018 and 2017 related to the actual transfer of funds to the U.S. The unrecognized tax liability associated with the operations in which we are permanently reinvested is $9 at December 31, 2019. The earnings of our certain non-U.S. subsidiaries may be repatriated to the U.S. in the form of repayments of intercompany borrowings. Certain of our international operations had intercompany loan obligations to the U.S. totaling $1,015 at the end of 2019 . Included in this amount are intercompany loans and related interest accruals with an equivalent value of $19 which are denominated in a foreign currency and considered to be permanently invested. Valuation allowance adjustments — We have recorded valuation allowances in several entities where the recent history of operating losses does not allow us to satisfy the “more likely than not” criterion for the recognition of deferred tax assets. Consequently, there is no income tax expense or benefit recognized on the pre-tax income or losses in these jurisdictions as valuation allowances are adjusted to offset the associated tax expense or benefit. When evaluating the need for a valuation allowance we consider all components of comprehensive income, and we weigh the positive and negative evidence, putting greater reliance on objectively verifiable evidence than on projections of future profitability that are dependent on actions that have not occurred as of the assessment date. We also consider changes to the historical financial results due to activities that were either new to the business or not expected to recur in the future, in order to identify the core earnings of the business. A sustained period of profitability, after considering changes to the historical results due to implemented actions and nonrecurring events, along with positive expectations for future profitability are necessary to reach a determination that a valuation allowance should be released. During the third quarter of 2019, we recognized a benefit of $22 for the release of a valuation allowance in a subsidiary in Brazil based on recent history of profitability and increased income projections. Deferred tax assets and liabilities — Temporary differences and carryforwards give rise to the following deferred tax assets and liabilities. 2019 2018 Net operating loss carryforwards $ 258 $ 255 Postretirement benefits, including pensions 87 98 Research and development costs 124 94 Expense accruals 81 75 Other tax credits recoverable 244 232 Capital loss carryforwards 42 40 Inventory reserves 19 13 Postemployment and other benefits 6 6 Leasing activities 46 Total 907 813 Valuation allowances (190 ) (281 ) Deferred tax assets 717 532 Unremitted earnings (4 ) (1 ) Intangibles (34 ) (11 ) Depreciation (104 ) (44 ) Other (33 ) (59 ) Deferred tax liabilities (175 ) (115 ) Net deferred tax assets $ 542 $ 417 Carryforwards — Our deferred tax assets include benefits expected from the utilization of net operating loss (NOL), capital loss and credit carryforwards in the future. The following table identifies the net operating loss deferred tax asset components and the related allowances that existed at December 31, 2019 . Due to time limitations on the ability to realize the benefit of the carryforwards, additional portions of these deferred tax assets may become unrealizable in the future. Deferred Tax Asset Valuation Allowance Carryforward Period Earliest Year of Expiration Net operating losses U.S. federal $ 59 $ — 20 2030 U.S. state 75 (37 ) Various 2020 Brazil 17 (6 ) Unlimited France 8 Unlimited Australia 24 (24 ) Unlimited Italy 32 (6 ) Unlimited Germany 6 (6 ) Unlimited U.K. 3 (3 ) Unlimited Canada 21 (20 ) 20 2022 Argentina 1 (1 ) 5 2024 China 12 (11 ) 5 2020 Total $ 258 $ (114 ) In addition to the NOL carryforwards listed in the table above, we have deferred tax assets related to capital loss carryforwards of $42 which are fully offset with valuation allowances at December 31, 2019 . We also have deferred tax assets of $244 related to other credit carryforwards which are partially offset with $18 of valuation allowances at December 31, 2019 . The capital losses can be carried forward indefinitely while the other credits are generally available for 10 to 20 years. The use of our $281 U.S. federal NOL as of December 31, 2019 is subject to limitation due to the change in ownership of our stock in January 2008. Generally, the application of the relevant Internal Revenue Code (IRC) provisions will release the limitation on $84 of pre-change NOLs each year, allowing pre-change losses to offset post-change taxable income. However, there can be no assurance that trading in our shares will not affect another change in ownership under the IRC which could further limit our ability to utilize our available NOLs. Unrecognized tax benefits — Unrecognized tax benefits are the difference between a tax position taken, or expected to be taken, in a tax return and the benefit recognized for accounting purposes. Interest income or expense, as well as penalties relating to income tax audit adjustments and settlements, are recognized as components of income tax expense or benefit. Interest of $12 and $11 was accrued on the uncertain tax positions at December 31, 2019 and 2018 . Reconciliation of gross unrecognized tax benefits — 2019 2018 2017 Balance, beginning of period $ 107 $ 119 $ 117 Decrease related to expiration of statute of limitations (10 ) (4 ) (3 ) Decrease related to prior years tax positions (15 ) (25 ) Increase related to prior years tax positions 13 8 15 Increase related to current year tax positions 9 10 15 Decrease related to settlements (11 ) Balance, end of period $ 119 $ 107 $ 119 The 2017 decrease related to prior years tax positions includes $23 that resulted from the reduction of the U.S. income tax rate from 35% to 21% since these positions represent a reduction of U.S. net operating losses. We anticipate that our gross unrecognized tax benefits will decrease by $17 in the next twelve months upon the expected completion of examinations in various jurisdictions. The settlement of these matters will not impact the effective tax rate. Gross unrecognized tax benefits of $90 would impact the effective tax rate if recognized. If other open matters are settled with the IRS or other taxing jurisdictions, the total amounts of unrecognized tax benefits for open tax years may be modified. |
Other Expense, Net
Other Expense, Net | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Expense, Net [Text Block] | Other Expense, Net 2019 2018 2017 Non-service cost components of pension and OPEB costs $ (23 ) $ (15 ) $ (7 ) Government grants and incentives 15 12 7 Foreign exchange loss (11 ) (12 ) (3 ) Strategic transaction expenses, net of transaction breakup fee income (41 ) (18 ) (25 ) Non-income tax legal judgment 6 Gain on sale of marketable securities 1 Gain on liquidation of foreign subsidiary 12 Amounts attributable to previously divested/closed operations 3 Other, net 16 4 9 Other expense, net (25 ) (29 ) (16 ) Foreign exchange gains and losses on cross-currency intercompany loan balances that are not of a long-term investment nature are included above. Foreign exchange gains and losses on intercompany loans that are permanently invested are reported in OCI. Strategic transaction expenses relate primarily to costs incurred in connection with acquisition and divestiture related activities, including costs to complete the transaction and post-closing integration costs. Strategic transaction expenses in 2019 were primarily attributable to our acquisition of ODS. Strategic transaction expenses in 2018 were primarily attributable to our bid to acquire the driveline business of GKN plc., our acquisition of an ownership interest in TM4, our pending acquisition of the ODS and integration costs associated with our acquisitions of BFP and BPT, and were partially offset by a $40 transaction breakup fee associated with the GKN plc. transaction. Strategic transaction expenses in 2017 are primarily attributable to our acquisitions of USM - Warren, BFP and BPT. See Note 2 for additional information. During the first quarter of 2019, we won a legal judgment regarding the methodology used to calculate PIS/COFINS tax on imports into Brazil. During the fourth quarter of 2019, we liquidated a foreign subsidiary. The resulting non-cash gain is attributable to the recognition of accumulated currency translation adjustments. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers [Text Block] | Revenue from Contracts with Customers We generate revenue from selling production parts to original equipment manufacturers (OEMs) and service parts to OEMs and aftermarket customers. While we provide production and service parts to certain OEMs under awarded multi-year programs, these multi-year programs do not contain any commitment to volume by the customer. As such, individual customer releases or purchase orders represent the contract with the customer. Our customer contracts do not provide us with an enforceable right to payment for performance completed to date throughout the contract term. As such, we recognize part sales revenue at the point in time when the parts are shipped, and risk of loss has transferred to the customer. We have elected to continue to include shipping and handling fees billed to customers in revenue, while including costs of shipping and handling in costs of sales. Taxes collected from customers are excluded from revenues and credited directly to obligations to the appropriate government agencies. Payment terms with our customers are established based on industry and regional practices and generally do not exceed 180 days. Certain of our customer contracts include rebate incentives. We estimate expected rebates and accrue the corresponding refund liability, as a reduction of revenue, at the time covered product is sold to the customer based on anticipated customer purchases during the rebate period and contractual rebate percentages. Refund liabilities are included in other accrued liabilities on our consolidated balance sheet. We provide standard fitness for use warranties on the products we sell, accruing for estimated costs related to product warranty obligations at time of sale. See Note 18 for additional information. Contract liabilities are primarily comprised of cash deposits made by customers with cash in advance payment terms. Generally, our contract liabilities turn over frequently given our relatively short production cycles. Contract liabilities were $23 and $12 at December 31, 2019 and December 31, 2018 . Contract liabilities are included in other accrued liabilities on our consolidated balance sheet. Disaggregation of revenue — The following table disaggregates revenue for each of our operating segments by geographical market: 2019 Light Vehicle Commercial Vehicle Off-Highway Power Technologies Total North America $ 2,679 $ 948 $ 317 $ 529 $ 4,473 Europe 325 233 1,617 431 2,606 South America 137 312 40 20 509 Asia Pacific 468 118 386 60 1,032 Total $ 3,609 $ 1,611 $ 2,360 $ 1,040 $ 8,620 2018 North America $ 2,477 $ 908 $ 141 $ 580 $ 4,106 Europe 347 271 1,423 443 2,484 South America 186 308 34 18 546 Asia Pacific 565 125 246 71 1,007 Total $ 3,575 $ 1,612 $ 1,844 $ 1,112 $ 8,143 |
Segments, Geographical Area and
Segments, Geographical Area and Major Customer Information | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segments, Geographical Area and Major Customer Information [Text Block] | Segments, Geographical Area and Major Customer Information We are a global provider of high-technology products to virtually every major vehicle manufacturer in the world. We also serve the stationary industrial market. Our technologies include drive systems (axles, driveshafts, transmissions, and wheel and track drives); motion systems (winches, slew drives, and hub drives); electrodynamic technologies (motors, inverters, software and control systems, battery-management systems, and fuel cell plates); sealing solutions (gaskets, seals, cam covers, and oil pan modules); thermal-management technologies (transmission and engine oil cooling, battery and electronics cooling, charge air cooling, and thermal-acoustical protective shielding); and digital solutions (active and passive system controls and descriptive and predictive analytics). We serve our global light vehicle, medium/heavy vehicle and off-highway markets through four operating segments – Light Vehicle Drive Systems (Light Vehicle), Commercial Vehicle Drive and Motion Systems (Commercial Vehicle), Off-Highway Drive and Motion Systems (Off-Highway) and Power Technologies, which is the center of excellence for sealing and thermal-management technologies that span all customers in our on-highway and off-highway markets. These operating segments have global responsibility and accountability for business commercial activities and financial performance. Dana evaluates the performance of its operating segments based on external sales and segment EBITDA. Segment EBITDA is a primary driver of cash flows from operations and a measure of our ability to maintain and continue to invest in our operations and provide shareholder returns. Our segments are charged for corporate and other shared administrative costs. Segment EBITDA may not be comparable to similarly titled measures reported by other companies. Segment information — 2019 External Sales Inter- Segment Sales Segment EBITDA Capital Spend Depreciation Net Assets Light Vehicle $ 3,609 $ 124 $ 438 $ 179 $ 149 $ 1,310 Commercial Vehicle 1,611 100 138 52 37 888 Off-Highway 2,360 17 330 85 87 1,369 Power Technologies 1,040 23 117 46 30 379 Eliminations and other (264 ) 64 19 221 Total $ 8,620 $ — $ 1,023 $ 426 $ 322 $ 4,167 2018 Light Vehicle $ 3,575 $ 133 $ 398 $ 195 $ 124 $ 1,264 Commercial Vehicle 1,612 107 146 27 38 577 Off-Highway 1,844 12 285 36 43 709 Power Technologies 1,112 23 149 36 30 376 Eliminations and other (275 ) 31 25 83 Total $ 8,143 $ — $ 978 $ 325 $ 260 $ 3,009 2017 Light Vehicle $ 3,172 $ 130 $ 359 $ 279 $ 88 $ 1,192 Commercial Vehicle 1,412 97 116 31 41 575 Off-Highway 1,521 4 212 32 40 698 Power Technologies 1,104 17 168 32 29 380 Eliminations and other (248 ) 19 22 124 Total $ 7,209 $ — $ 855 $ 393 $ 220 $ 2,969 Upon our adoption of ASU 2017-07 on January 1, 2018, we changed our measurement of segment profit to exclude the non-service cost components of pension and OPEB costs. The service cost components continue to be included as part of compensation cost and remain eligible for capitalization in inventory and other assets. Segment EBITDA amounts for 2017 were not recast due to the insignificance of the adjustments. Had amounts been recast to conform with the current presentation, segment EBITDA for 2017 would have been $359 for Light Vehicle, $119 for Commercial Vehicle, $213 for Off-Highway and $173 for Power Technologies. Net assets include accounts receivable, inventories, other current assets, goodwill, intangibles, investments in affiliates, other noncurrent assets, net property, plant and equipment, accounts payable and current accrued liabilities. Reconciliation of segment EBITDA to consolidated net income — 2019 2018 2017 Segment EBITDA $ 1,023 $ 978 $ 855 Corporate expense and other items, net (4 ) (21 ) (20 ) Depreciation (322 ) (260 ) (220 ) Amortization (17 ) (10 ) (13 ) Non-service cost components of pension and OPEB costs (23 ) (15 ) Restructuring charges, net (29 ) (25 ) (14 ) Stock compensation expense (19 ) (16 ) (23 ) Strategic transaction expenses, net of transaction breakup fee income (41 ) (18 ) (25 ) Acquisition related inventory adjustments (13 ) (14 ) Non-income tax legal judgment 6 Other items (11 ) (17 ) (11 ) Gain (loss) on disposal group held for sale 3 (27 ) Gain on liquidation of foreign subsidiary 12 Impairment of goodwill and indefinite-lived intangible asset (6 ) (20 ) Amounts attributable to previously divested/closed operations (5 ) 2 Pension settlement charges (259 ) Earnings before interest and income taxes 292 579 490 Loss on extinguishment of debt (9 ) (19 ) Interest expense 122 96 102 Interest income 10 11 11 Earnings before income taxes 171 494 380 Income tax expense (benefit) (32 ) 78 283 Equity in earnings of affiliates 30 24 19 Net income $ 233 $ 440 $ 116 Reconciliation of segment net assets to consolidated total assets — 2019 2018 Segment net assets $ 4,167 $ 3,009 Accounts payable and other current liabilities 1,723 1,672 Other current and long-term assets 1,330 1,237 Consolidated total assets $ 7,220 $ 5,918 Geographic information — Of our 2019 consolidated net sales, the U.S., Italy and Germany account for 47% , 14% and 6% , respectively. No other country accounted for more than 5% of our consolidated net sales during 2019. Sales are attributed to the location of the product entity recording the sale. Long-lived assets represent property, plant and equipment. Net Sales Long-Lived Assets 2019 2018 2017 2019 2018 2017 North America United States $ 4,069 $ 3,613 $ 3,209 $ 972 $ 860 $ 828 Other North America 404 493 479 105 87 82 Total 4,473 4,106 3,688 1,077 947 910 Europe Italy 1,186 971 762 248 138 122 Germany 478 513 473 131 133 149 Other Europe 942 1,000 919 265 241 211 Total 2,606 2,484 2,154 644 512 482 South America 509 546 500 126 129 153 Asia Pacific 1,032 1,007 867 418 262 262 Total $ 8,620 $ 8,143 $ 7,209 $ 2,265 $ 1,850 $ 1,807 Sales to major customers — Ford is the only individual customer to whom sales have exceeded 10% of our consolidated sales in each of the past three years. Sales to Ford were $1,753 ( 20% ) in 2019 , $1,646 ( 20% ) in 2018 and $1,553 ( 22% ) in 2017 . Sales to FCA (via a directed supply relationship) exceeded the threshold in 2019 at $988 ( 11% ) and 2018 at $911 ( 11% ). |
Equity Affiliates
Equity Affiliates | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Affiliates [Text Block] | Equity Affiliates We have a number of investments in entities that engage in the manufacture and supply of vehicular parts (primarily axles, driveshafts, wheel-end braking systems) and motors for electric vehicles and industrial applications. Dividends received from equity affiliates were $21 , $20 and $16 in 2019 , 2018 and 2017 . Equity method investments exceeding $5 at December 31, 2019 — Ownership Investment Dongfeng Dana Axle Co., Ltd. (DDAC) 50% $ 97 Bendix Spicer Foundation Brake, LLC 20% 54 Axles India Limited 48% 10 Ashwoods Innovations Ltd. 63% 8 Taiway Ltd 28% 5 All others as a group 6 Investments in equity affiliates 180 Investment in affiliates carried at cost 2 Investment in affiliates $ 182 The decrease in equity method investments from the prior year is due to our acquisition of PEBL's interest in PEPS. The acquisition of PEBL's interest in PEPS, along with our existing ownership interest in PEPS through our TM4 subsidiary, provides us with a controlling financial interest in PEPS. See Note 2 for additional information. As part of the ODS acquisition, we acquired an ownership interest in Ashwoods Innovations Ltd. (Ashwoods). The minority shareholders in this entity have substantive participating rights that allow them to effectively participate in the decisions made in the ordinary course of business that are significant to its operations. Due to these factors, we do not have control over this entity and therefore account for this investment under the equity method of accounting. Our equity method investment in Ashwoods is included in the net assets of our Off-Highway operating segment. Our equity method investments in DDAC, Bendix Spicer Foundation Brake, LLC and Axles India Limited are included in the net assets of our Commercial Vehicle operating segment. Our equity method investment in Taiway Ltd. is included in the net assets of our Light Vehicle segment. The carrying value of our equity method investments at December 31, 2019 was $22 more than our share of the affiliates’ book value, including $19 attributable to goodwill. The difference between the investment carrying value and the amount of underlying equity in assets, excluding goodwill, is being amortized on a straight-line basis over the underlying assets’ estimated useful lives of five to forty-five years . |
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results Unaudited [Text Block] | Dana Incorporated Quarterly Results (Unaudited) (In millions, except per share amounts) 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 2,163 $ 2,306 $ 2,164 $ 1,987 Gross margin $ 300 $ 326 $ 282 $ 223 Net income (loss) $ 101 $ (66 ) $ 112 $ 86 Net income (loss) attributable to the parent company $ 98 $ (68 ) $ 111 $ 85 Net income (loss) per share available to parent company common stockholders Basic $ 0.68 $ (0.47 ) $ 0.77 $ 0.59 Diluted $ 0.68 $ (0.47 ) $ 0.77 $ 0.58 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 2,138 $ 2,054 $ 1,978 $ 1,973 Gross margin $ 307 $ 308 $ 286 $ 256 Net income $ 111 $ 127 $ 96 $ 106 Net income attributable to the parent company $ 108 $ 124 $ 95 $ 100 Net income per share available to parent company common stockholders Basic $ 0.74 $ 0.85 $ 0.66 $ 0.69 Diluted $ 0.73 $ 0.85 $ 0.65 $ 0.69 _________________________________________________________ Note: Gross margin is net sales less cost of sales. Net income for the first quarter of 2019 includes $16 of net income tax benefits related to discrete items. Net loss for the second quarter of 2019 includes a $258 pre-tax pension settlement charge related to the termination of one of our U.S. defined benefit pension plans and $87 of net income tax benefits related to discrete items. Net income for the third quarter of 2019 includes $22 of income tax benefit related to a discrete item. Net income for the fourth quarter of 2019 includes a $6 pre-tax goodwill impairment charge and a $9 pre-tax loss on extinguishment of debt. Net income for the second quarter of 2018 includes a $20 pre-tax charge to fully impair intangible assets used in research and development activities and $39 of net income tax benefits related to discrete items. See Note 4 and Note 19 for additional information. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts and Reserves | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule II Valuation and Qualifying Accounts and Reserves [Text Block] | Dana Incorporated Schedule II Valuation and Qualifying Accounts and Reserves (In millions) Amounts deducted from assets in the balance sheets — Balance at beginning of period Amounts charged (credited) to income Allowance utilized Adjustments arising from change in currency exchange rates and other items Balance at end of period Accounts Receivable - Allowance for Doubtful Accounts 2019 $ 9 $ 2 $ — $ (2 ) $ 9 2018 $ 8 $ 3 $ — $ (2 ) $ 9 2017 $ 6 $ 2 $ — $ — $ 8 Inventory Reserves 2019 $ 51 $ 25 $ (16 ) $ 4 $ 64 2018 $ 53 $ 15 $ (11 ) $ (6 ) $ 51 2017 $ 51 $ 10 $ (11 ) $ 3 $ 53 Deferred Tax Assets - Valuation Allowance 2019 $ 281 $ (102 ) $ — $ 11 $ 190 2018 $ 301 $ (31 ) $ — $ 11 $ 281 2017 $ 285 $ 29 $ — $ (13 ) $ 301 |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of presentation [Policy Text Block] | Basis of presentation — Our consolidated financial statements include the accounts of all subsidiaries where we hold a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Investments in 20 to 50% -owned affiliates, which are not required to be consolidated, are generally accounted for under the equity method. Equity in earnings of these investments is presented separately in the consolidated statement of operations, net of tax. Investments in less-than- 20% -owned companies are generally included in the financial statements at the cost of our investment. Dividends, royalties and fees from these cost basis affiliates are recorded in income when received. During the fourth quarter of 2019, we reclassified certain expenses previously reported as selling, general and administrative expenses to cost of sales. The reclassification aligns the financial reporting of the recently acquired ODS operations with our classification of similar expenses. The reclassification was retrospectively applied by restating the first, second, third and fourth quarters of 2019. Reference is made to the Quarterly Results disclosure in Item 8 below. The impact on the consolidated financial statements for the prior periods presented was insignificant. |
Held for sale [Policy Text Block] | Held for sale — We classify long-lived assets or disposal groups as held for sale in the period: management commits to a plan to sell; the long-lived asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such long-lived assets or disposal groups; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale is probable within one year; the asset or disposal group is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Long-lived assets and disposal groups classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. |
Discontinued operations [Policy Text Block] | Discontinued operations — The results of operations of a component or a group of components that either has been disposed of or is classified as held for sale is reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on operations and financial results. |
Estimates [Policy Text Block] | Estimates — Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP), which require the use of estimates, judgments and assumptions that affect the amounts reported in the consolidated financial statements and accompanying disclosures. We believe our assumptions and estimates are reasonable and appropriate. However, due to the inherent uncertainties in making estimates, actual results could differ from those estimates. |
Fair value measurements [Policy Text Block] | Fair value measurements — A three-tier fair value hierarchy is used to prioritize the inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows: Level 1 inputs (highest priority) include unadjusted quoted prices in active markets for identical instruments. Level 2 inputs include quoted prices for similar instruments that are observable either directly or indirectly. Level 3 inputs (lowest priority) include unobservable inputs in which there is little or no market data, which require management to develop its own assumptions. Classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The inputs we use in our valuation techniques include market data or assumptions that we believe market participants would use in pricing an asset or liability, including assumptions about risk when appropriate. Our valuation techniques include a combination of observable and unobservable inputs. When available, we use quoted market prices to determine the fair value (market approach). In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, we consider the amount and timing of estimated future cash flows and assumed discount rates reflecting varying degrees of credit risk that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date (income approach). Fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. |
Cash and cash equivalents [Policy Text Block] | Cash and cash equivalents — Cash and cash equivalents includes cash on hand, demand deposits and short-term cash investments that are highly liquid in nature and have maturities of three months or less when purchased. |
Marketable securities [Policy Text Block] | Marketable securities — Our investments in marketable securities reported in the accompanying balance sheet are classified as available for sale and carried at fair value. We recorded unrealized gains and losses in accumulated other comprehensive income (loss) (AOCI) through the end of 2017 but recorded them in net income beginning in 2018 to comply with new accounting guidance. Realized gains and losses are recorded using the specific identification method. |
Inventories [Policy Text Block] | Inventories — Inventories are valued at the lower of cost or net realizable value. Cost is determined using the average or first-in, first-out (FIFO) cost method. |
Property, plant and equipment [Policy Text Block] | Property, plant and equipment — Property, plant and equipment are recorded at cost. Depreciation is recognized over the estimated useful lives using primarily the straight-line method for financial reporting purposes and accelerated depreciation methods for federal income tax purposes. Useful lives of newly acquired assets are generally twenty to thirty years for buildings and building improvements, five to ten years for machinery and equipment, three to five years for tooling and office equipment and three to ten years for furniture and fixtures. If assets are impaired, their value is reduced via an increase in accumulated depreciation. |
Leases [Policy Text Block] | Leases — Our global lease portfolio represents leases of real estate, including manufacturing, assembly and office facilities, while the remainder represents leases of personal property, including manufacturing, material handling and IT equipment. We have lease agreements with lease and non-lease components, which are accounted for separately. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term. Generally, we use our incremental borrowing rate in determining the present value of lease payments, unless there is a rate stated in the lease agreement. |
Pre-production costs related to long-term supply arrangements [Policy Text Block] | Pre-production costs related to long-term supply arrangements — The costs of tooling used to make products sold under long-term supply arrangements are capitalized as part of property, plant and equipment and amortized over their useful lives if we own the tooling or if we fund the purchase but our customer owns the tooling and grants us the irrevocable right to use the tooling over the contract period. If we have a contractual right to bill our customers, costs incurred in connection with the design and development of tooling are carried as a component of other accounts receivable until invoiced. Design and development costs related to customer products are deferred if we have an agreement to collect such costs from the customer; otherwise, they are expensed when incurred. At December 31, 2019 , the machinery and equipment component of property, plant and equipment includes $66 of our tooling related to long-term supply arrangements. Also at December 31, 2019 , trade and other accounts receivable includes $38 of costs related to tooling that we have a contractual right to collect from our customers. |
Goodwill [Policy Text Block] | Goodwill — We test goodwill for impairment annually as of October 31 and more frequently if events occur or circumstances change that would warrant an interim review. Goodwill impairment testing is performed at the reporting unit level, which is the operating segment in the case of our Off-Highway and Commercial Vehicle goodwill. We estimate the fair value of the reporting units using various valuation methodologies, including discounted cash flow projections and multiples of current earnings. In determining fair value using discounted cash flow projections, we make significant assumptions and estimates about the extent and timing of future cash flows, including revenue growth rates, projected gross margins, discount rates, terminal growth rates, and exit earnings multiples. If the estimated fair value of the reporting unit exceeds its carrying value, the goodwill is considered not impaired. If the carrying value of the reporting unit exceeds its estimated fair value, a goodwill impairment charge is recorded for the difference. See Note 4 for more information about goodwill. |
Intangible assets [Policy Text Block] | Intangible assets — Intangible assets include the value of core technology, trademarks and trade names, customer relationships and intangible assets used in research and development activities. Core technology and customer relationships have definite lives while intangible assets used in research and development activities and substantially all of our trademarks and trade names have indefinite lives. Definite-lived intangible assets are amortized over their useful life using the straight-line method of amortization and are periodically reviewed for impairment indicators. Amortization of core technology is charged to cost of sales. Amortization of trademarks and trade names and customer relationships is charged to amortization of intangibles. Intangible assets used in research and development activities have an indefinite life until completion of the associated research and development efforts. Upon completion of development, the assets are amortized over their useful life; if the project is abandoned, the assets are written off immediately. Indefinite-lived intangible assets are tested for impairment annually and more frequently if impairment indicators exist. See Note 4 for more information about intangible assets. |
Investments in affiliates [Policy Text Block] | Investments in affiliates — Investments in affiliates include investments accounted for under the equity and cost methods. We monitor our investments in affiliates for indicators of other-than-temporary declines in value on an ongoing basis in accordance with GAAP. Indicators include, but are not limited to, current economic and market conditions, operating performance of the affiliate, including current earnings trends and undiscounted cash flows, and other affiliate-specific information. If we determine that an other-than-temporary decline in value has occurred, we recognize an impairment loss, which is measured as the excess of the investment's recorded carrying value over its fair value. The fair value determination, particularly for investments in privately-held companies, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and determination of whether any identified impairment is other than temporary. See Note 23 for further information about our investment in affiliates. |
Tangible asset impairments [Policy Text Block] | Tangible asset impairments — We review the carrying value of amortizable long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the undiscounted future net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell and are no longer depreciated. |
Other long-lived assets and liabilities [Policy Text Block] | Other long-lived assets and liabilities — We discount our workers’ compensation obligations by applying blended risk-free rates that are appropriate for the duration of the projected cash flows. The use of risk-free rates is considered appropriate given that other risks affecting the volume and timing of payments have been considered in developing the probability-weighted projected cash flows. The blended risk-free rates are revised annually to consider incremental cash flow projections. |
Financial instruments [Policy Text Block] | Financial instruments — The carrying values of cash and cash equivalents, trade receivables and short-term borrowings approximate fair value. Notes receivable are carried at fair value, which considers the contractual call or selling price, if applicable. Borrowings under our credit facilities are carried at historical cost and adjusted for principal payments and foreign currency fluctuations. |
Derivatives [Policy Text Block] | Derivative s — Foreign currency forward contracts and currency swaps are carried at fair value. We enter into these contracts to manage our exposure to the impact of currency fluctuations on certain foreign currency-denominated assets and liabilities and on a portion of our forecasted purchase and sale transactions. On occasion, we also enter into net investment hedges to protect the translated U.S. dollar value of our investment in certain foreign subsidiaries. We also periodically enter into fixed-to-fixed cross-currency swaps on foreign currency-denominated external or intercompany debt instruments to reduce our exposure to foreign currency exchange rate risk. Such fixed-to-fixed cross-currency swaps are designated as cash flow hedges. We do not use derivatives for trading or speculative purposes and we do not hedge all of our exposures. For derivative instruments designated as cash flow hedges, at the cash flow hedge’s inception and on an ongoing basis, the company formally assesses whether the cash flow hedging instruments have been highly effective in offsetting changes in the cash flows of the hedged transactions and whether those cash flow hedging instruments may be expected to remain highly effective in future periods. Changes in the fair value of currency-related contracts treated as cash flow hedges are deferred and included as a component of other comprehensive income (loss) (OCI). For our fixed-to-fixed cross-currency swaps, a review of critical terms is performed each period to establish that an assumption of effectiveness remains appropriate. Deferred gains and losses are reclassified to earnings in the same periods in which the underlying transactions affect earnings. Changes in the fair value of contracts not treated as cash flow hedges or as net investment hedges are recognized in other expense, net in the period in which those changes occur. Changes in the fair value of contracts treated as net investment hedges are recorded in the cumulative translation adjustment (CTA) component of OCI. Amounts recorded in CTA are deferred until such time as the investment in the associated subsidiary is substantially liquidated. We may also use fixed-to-floating or floating-to-fixed interest rate swaps or other similar derivatives to manage exposure to fluctuations in interest rates and to adjust the mix of our fixed-rate and variable-rate debt. As a fair value hedge of the underlying debt, changes in the fair values of the swap and the underlying debt are recorded in interest expense. No such fixed-to-floating or floating-to-fixed swaps were outstanding at December 31, 2019. See Note 16 for additional information. Cash flows associated with designated derivatives are classified within the same category as the item being hedged on the consolidated statement of cash flows. Cash flows associated with undesignated derivatives are included in the investing category on the consolidated statement of cash flows. |
Standard Product Warranty [Policy Text Block] | Warranty — Costs related to product warranty obligations are estimated and accrued at the time of sale with a charge against cost of sales. Warranty accruals are evaluated and adjusted as appropriate based on occurrences giving rise to potential warranty exposure and associated experience. Warranty accruals and adjustments require significant judgment, including a determination of our involvement in the matter giving rise to the potential warranty issue or claim, our contractual requirements, estimates of units requiring repair and estimates of repair costs. |
Extended Product Warranty [Policy Text Block] | Warranty — Costs related to product warranty obligations are estimated and accrued at the time of sale with a charge against cost of sales. Warranty accruals are evaluated and adjusted as appropriate based on occurrences giving rise to potential warranty exposure and associated experience. Warranty accruals and adjustments require significant judgment, including a determination of our involvement in the matter giving rise to the potential warranty issue or claim, our contractual requirements, estimates of units requiring repair and estimates of repair costs. |
Environmental compliance and remediation [Policy Text Block] | Environmental compliance and remediation — Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to existing conditions caused by past operations that do not contribute to our current or future revenue generation are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated. We consider the most probable method of remediation, current laws and regulations and existing technology in determining our environmental liabilities. |
Pension and other postretirement defined benefits [Policy Text Block] | Pension and other postretirement defined benefits — Net pension and postretirement benefits expenses and the related liabilities are determined on an actuarial basis. These plan expenses and obligations are dependent on management’s assumptions developed in consultation with our actuaries. We review these actuarial assumptions at least annually and make modifications when appropriate. With the input of independent actuaries and other relevant sources, we believe that the assumptions used are reasonable; however, changes in these assumptions, or experience different from that assumed, could impact our financial position, results of operations or cash flows. |
Postemployment benefits [Policy Text Block] | Postemployment benefits — Costs to provide postemployment benefits to employees are accounted for on an accrual basis. Obligations that do not accumulate or vest are recorded when payment is probable and the amount can be reasonably estimated. For those obligations that accumulate or vest and the amount can be reasonably estimated, expense and the related liability are recorded as service is rendered. |
Equity-based compensation [Policy Text Block] | Equity-based compensation — We measure compensation cost arising from the grant of share-based awards to employees at fair value. We recognize such costs in income over the period during which the requisite service is provided, usually the vesting period. The grant date fair value is estimated using valuation techniques that require the input of management estimates and assumptions. |
Revenue recognition [Policy Text Block] | Revenue recognition |
Foreign currency translation [Policy Text Block] | Foreign currency translation — The financial statements of subsidiaries and equity affiliates outside the U.S. located in non-highly inflationary economies are measured using the currency of the primary economic environment in which they operate as the functional currency, which typically is the local currency. Transaction gains and losses resulting from translating assets and liabilities of these entities into the functional currency are included in other expense, net or in equity in earnings of affiliates. When translating into U.S. dollars, income and expense items are translated at average monthly rates of exchange, while assets and liabilities are translated at the rates of exchange at the balance sheet date. Translation adjustments resulting from translating the functional currency into U.S. dollars are deferred and included as a component of AOCI in stockholders’ equity. For operations whose functional currency is the U.S. dollar, nonmonetary assets are translated into U.S. dollars at historical exchange rates and monetary assets are translated at current exchange rates. Effective July 1, 2018, we accounted for Argentina as a highly inflationary economy, as the three-year cumulative inflation rate exceeded 100% . As such, beginning July 1, 2018 we began to remeasure the financial statements of our Argentine subsidiaries as if their functional currency was the U.S. dollar. |
Income taxes [Policy Text Block] | Income taxes — In the ordinary course of business there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax assets or liabilities for all years subject to examination based upon management’s evaluation of the facts and circumstances and information available at the reporting dates. For those tax positions where it is more likely than not that a tax benefit will be sustained, we have recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, the related interest cost has also been recognized as a component of the income tax provision. |
Research and development [Policy Text Block] | Research and development — Research and development costs include expenditures for research activities relating to product development and improvement. Salaries, fringes and occupancy costs, including building, utility and overhead costs, comprise the vast majority of these expenses and are expensed as incurred. Research and development expenses were $112 , $103 and $102 in 2019 , 2018 and 2017 . |
Recently adopted accounting pronouncements [Policy Text Block] | Recently adopted accounting pronouncements On January 1, 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) , using the modified retrospective approach and an application date of January 1, 2019. Prior period amounts have not been adjusted and continue to be reflected in accordance with our historical accounting. This transition method resulted in the recognition of a right-of-use asset and a lease liability for virtually all leases at the application date with a cumulative-effect adjustment to retained earnings. We elected the package of practical expedients, which among other things, allowed us to carry forward the historical lease classification. We did not elect the practical expedient that allowed for hindsight to determine the lease term of existing leases. We separated the lease components from the non-lease components of each lease arrangement and, therefore, did not elect the practical expedient that would enable us to not separate them. During the fourth quarter of 2019 we adopted ASU 2017-04, Goodwill – Simplifying the Test for Goodwill Impairment, guidance which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 of the goodwill impairment test. The new guidance quantifies goodwill impairment as the amount by which the carrying amount of a reporting unit, including goodwill, exceeds its fair value, with the impairment loss limited to the total amount of goodwill allocated to that reporting unit. We performed our annual goodwill impairment tests as of October 31, 2019 in accordance with ASU 2017-04. See Note 4 for more information about goodwill and the results of our annual impairment tests. We also adopted the following standard during 2019, which did not have a material impact on our financial statements or financial statement disclosures: Standard Effective Date 2017-11 Earnings Per Share, Distinguishing Liabilities from Equity, Derivatives and Hedging – (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception January 1, 2019 |
Recently issued accounting pronouncements [Policy Text Block] | Recently issued accounting pronouncements In December 2019, the FASB issued ASU 2019-12, Income Taxes – Simplifying the Accounting for Income Taxes . This guidance is intended to simplify various aspects of income tax accounting including the elimination of certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. This guidance becomes effective January 1, 2021 and early adoption is permitted. Adoption of this guidance requires certain changes to primarily be made prospectively, with some changes to be made retrospectively. We are currently assessing the impact of this guidance on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . This guidance allows for capitalization of implementation costs associated with certain cloud computing arrangements. This guidance becomes effective January 1, 2020 and early adoption is permitted. The guidance is to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We do not expect the adoption of this guidance to impact our consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General, Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans . The guidance eliminated certain disclosures about defined benefit plans, added new disclosures, and clarified other requirements. This guidance becomes effective January 1, 2020 and early adoption is permitted. There were no changes to interim disclosure requirements. Adoption of this guidance will not have a material effect on our annual financial statement disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . The guidance removed or modified some disclosures while others were added. The removal and amendment of certain disclosures can be adopted immediately with retrospective application. The additional disclosure guidance becomes effective January 1, 2020. Adoption of this guidance will not have a material effect on our financial statement disclosures. In June 2016, the FASB issued ASU 2016-13, Credit Losses – Measurement of Credit Losses on Financial Instruments, new guidance for the accounting for credit losses on certain financial instruments. This guidance introduces a new approach to estimating credit losses on certain types of financial instruments and modifies the impairment model for available-for-sale debt securities. This guidance, which becomes effective January 1, 2020, will not have a material impact on our consolidated financial statements. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The purchase consideration and related provisional allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Purchase consideration paid at closing $ 50 Fair value of previously held equity method investment 45 Total purchase consideration $ 95 Cash and cash equivalents $ 2 Accounts receivable - Trade 17 Inventories 9 Goodwill 63 Intangibles 10 Property, plant and equipment 2 Accounts payable (4 ) Other accrued liabilities (3 ) Other noncurrent liabilities (1 ) Total purchase consideration allocation $ 95 Total purchase consideration $ 201 Cash and cash equivalents $ 75 Accounts receivable - Trade 78 Accounts receivable - Other 18 Inventories 134 Other current assets 9 Goodwill 20 Intangibles 41 Deferred tax assets 3 Other noncurrent assets 4 Property, plant and equipment 174 Notes payable, including current portion of long-term debt (130 ) Accounts payable (51 ) Accrued payroll and employee benefits (14 ) Taxes on income (1 ) Other accrued liabilities (19 ) Long-term debt (51 ) Pension and postretirement obligations (11 ) Other noncurrent liabilities (22 ) Redeemable noncontrolling interest (44 ) Noncontrolling interests (12 ) Total purchase consideration allocation $ 201 The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 125 Cash and cash equivalents $ 3 Accounts receivable - Trade 3 Accounts receivable - Other 1 Inventories 4 Goodwill 148 Intangibles 24 Investment in affiliates 49 Property, plant and equipment 5 Accounts payable (2 ) Accrued payroll and employee benefits (1 ) Other accrued liabilities (7 ) Redeemable noncontrolling interest (102 ) Total purchase consideration allocation $ 125 Purchase consideration paid at closing $ 626 Less purchase consideration to be recovered for indemnified matters (11 ) Total purchase consideration $ 615 Cash and cash equivalents $ 76 Accounts receivable - Trade 150 Accounts receivable - Other 15 Inventories 190 Other current assets 16 Goodwill 92 Intangibles 58 Deferred tax assets 27 Other noncurrent assets 1 Investments in affiliates 7 Operating lease assets 4 Property, plant and equipment 333 Current portion of long-term debt (2 ) Accounts payable (151 ) Accrued payroll and employee benefits (37 ) Current portion of operating lease liabilities (1 ) Taxes on income (5 ) Other accrued liabilities (61 ) Long-term debt (8 ) Pension and postretirement obligations (49 ) Noncurrent operating lease liabilities (2 ) Other noncurrent liabilities (30 ) Noncontrolling interests (8 ) Total purchase consideration allocation $ 615 The purchase consideration and the related allocation to the acquisition date fair values of the assets acquired and liabilities assumed are presented in the following table: Total purchase consideration $ 88 Accounts receivable - Trade $ 4 Accounts receivable - Other 1 Inventories 8 Goodwill 68 Intangibles 24 Property, plant and equipment 5 Short-term debt (8 ) Accounts payable (6 ) Accrued payroll and employee benefits (1 ) Other accrued liabilities (1 ) Other noncurrent liabilities (6 ) Total purchase consideration allocation $ 88 Total purchase consideration $ 78 Accounts receivable - Trade $ 17 Accounts receivable - Other 3 Inventories 9 Goodwill 3 Intangibles 33 Property, plant and equipment 50 Accounts payable (34 ) Accrued payroll and employee benefits (2 ) Other accrued liabilities (1 ) Total purchase consideration allocation $ 78 |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information has been prepared as if the ODS acquisition and the related debt financing had occurred on January 1, 2018. 2019 2018 Net sales $ 8,765 $ 9,013 Net income $ 273 $ 425 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in the Carrying Amount of Goodwill [Table Text Block] | Changes in the carrying amount of goodwill by segment — Light Vehicle Commercial Vehicle Off-Highway Power Technologies Total Balance, December 31, 2017 $ 3 $ 8 $ 110 $ 6 $ 127 Acquisitions 148 148 Currency impact (6 ) (5 ) (11 ) Balance, December 31, 2018 3 150 105 6 264 Acquisition 74 160 234 Impairment (6 ) (6 ) Currency impact 4 (3 ) 1 Balance, December 31, 2019 $ 3 $ 228 $ 262 $ — $ 493 |
Components of Other (Finite-Lived) Intangible Assets [Table Text Block] | Components of other intangible assets — December 31, 2019 December 31, 2018 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Amortizable intangible assets Core technology 8 $ 133 $ (94 ) $ 39 $ 107 $ (89 ) $ 18 Trademarks and trade names 13 30 (6 ) 24 16 (4 ) 12 Customer relationships 8 509 (407 ) 102 460 (400 ) 60 Non-amortizable intangible assets Trademarks and trade names 75 75 74 74 Used in research and development activities — 20 (20 ) — $ 747 $ (507 ) $ 240 $ 677 $ (513 ) $ 164 |
Components of Other (Indefinite-Lived) Intangible Assets [Table Text Block] | Components of other intangible assets — December 31, 2019 December 31, 2018 Weighted Average Useful Life (years) Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Gross Carrying Amount Accumulated Impairment and Amortization Net Carrying Amount Amortizable intangible assets Core technology 8 $ 133 $ (94 ) $ 39 $ 107 $ (89 ) $ 18 Trademarks and trade names 13 30 (6 ) 24 16 (4 ) 12 Customer relationships 8 509 (407 ) 102 460 (400 ) 60 Non-amortizable intangible assets Trademarks and trade names 75 75 74 74 Used in research and development activities — 20 (20 ) — $ 747 $ (507 ) $ 240 $ 677 $ (513 ) $ 164 |
Amortization Expense Related to Amortizable Intangible Assets [Table Text Block] | Amortization expense related to amortizable intangible assets — 2019 2018 2017 Charged to cost of sales $ 5 $ 2 $ 2 Charged to amortization of intangibles 12 8 11 Total amortization $ 17 $ 10 $ 13 |
Estimated Aggregate Pre-Tax Amortization Expense Related to Intangible Assets [Table Text Block] | The following table provides the estimated aggregate pre-tax amortization expense related to intangible assets for each of the next five years based on December 31, 2019 exchange rates. Actual amounts may differ from these estimates due to such factors as currency translation, customer turnover, impairments, additional intangible asset acquisitions and other events. 2020 2021 2022 2023 2024 Amortization expense $ 18 $ 17 $ 17 $ 17 $ 17 |
Restructuring of Operations (Ta
Restructuring of Operations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Accrued Restructuring Costs and Activity [Table Text Block] | Accrued restructuring costs and activity, including noncurrent portion — Employee Termination Benefits Exit Costs Total Balance, December 31, 2016 $ 32 $ 6 $ 38 Charges to restructuring 16 6 22 Adjustments of accruals (8 ) (8 ) Cash payments (21 ) (7 ) (28 ) Currency impact 2 2 Balance, December 31, 2017 21 5 26 Charges to restructuring 28 4 32 Adjustments of accruals (7 ) (7 ) Cash payments (16 ) (5 ) (21 ) Currency impact (1 ) (1 ) Balance, December 31, 2018 25 4 29 Charges to restructuring 21 10 31 Adjustments of accruals (2 ) (2 ) Cash payments (31 ) (9 ) (40 ) Currency impact — Lease cease-use reclassification (4 ) (4 ) Balance, December 31, 2019 $ 13 $ 1 $ 14 |
Cost to Complete [Table Text Block] | Cost to complete — The following table provides project-to-date and estimated future restructuring expenses for completion of our approved restructuring initiatives for our business segments at December 31, 2019 . Expense Recognized Future Cost to Complete Prior to 2019 2019 Total to Date Commercial Vehicle $ 35 $ 4 $ 39 $ 4 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Inventory Disclosure [Abstract] | |
Inventory Components [Table Text Block] | Inventory components at December 31 — 2019 2018 Raw materials $ 470 $ 433 Work in process and finished goods 787 649 Inventory reserves (64 ) (51 ) Total $ 1,193 $ 1,031 |
Supplemental Balance Sheet an_2
Supplemental Balance Sheet and Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Supplemental Balance Sheet Information [Text Block] | Supplemental balance sheet information at December 31 — 2019 2018 Other current assets: Prepaid expenses $ 109 $ 76 Other 28 26 Total $ 137 $ 102 Other noncurrent assets: Contract asset $ 37 $ 25 Prepaid expenses 3 3 Deferred financing costs 6 4 Pension assets, net of related obligations 4 3 Other 70 45 Total $ 120 $ 80 Property, plant and equipment, net: Land and improvements to land $ 223 $ 207 Buildings and building fixtures 621 552 Machinery and equipment 3,355 2,817 Finance lease right-of-use assets 41 Total cost 4,240 3,576 Less: accumulated depreciation (1,975 ) (1,726 ) Net $ 2,265 $ 1,850 Other accrued liabilities (current): Non-income taxes payable $ 65 $ 53 Accrued interest 11 13 Warranty reserves 36 34 Deferred income 6 6 Work place injury costs 5 5 Restructuring costs 14 26 Payable under forward contracts 5 11 Environmental 5 5 Other expense accruals 115 116 Total $ 262 $ 269 Other noncurrent liabilities: Income tax liability $ 47 $ 48 Interest rate swap market valuation 71 118 Deferred income tax liability 40 28 Work place injury costs 17 19 Warranty reserves 65 41 Restructuring costs 3 Other noncurrent liabilities 65 56 Total $ 305 $ 313 |
Supplemental Cash Flow Information [Table Text Block] | Cash, cash equivalents and restricted cash at — December 31, 2019 December 31, 2018 December 31, 2017 December 31, 2016 Cash and cash equivalents $ 508 $ 510 $ 603 $ 707 Restricted cash included in other current assets 6 7 3 5 Restricted cash included in other noncurrent assets 4 3 4 4 Total cash, cash equivalents and restricted cash $ 518 $ 520 $ 610 $ 716 Supplemental cash flow information — 2019 2018 2017 Change in working capital: Change in accounts receivable $ 134 $ (113 ) $ (141 ) Change in inventories 35 (110 ) (146 ) Change in accounts payable (96 ) 97 234 Change in accrued payroll and employee benefits (21 ) (28 ) 53 Change in accrued income taxes (19 ) (3 ) 26 Change in other current assets and liabilities (50 ) 44 (34 ) Net $ (17 ) $ (113 ) $ (8 ) Cash paid during the period for: Interest $ 117 $ 90 $ 104 Income taxes 125 145 87 Noncash investing and financing activities: Purchases of property, plant and equipment held in accounts payable $ 71 $ 91 $ 86 Stock compensation plans 17 18 17 Noncash dividends declared 1 1 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Summary of Location and Amounts Related to Finance Leases [Table Text Block] | The following table provides a summary of the location and amounts related to finance leases recognized in the consolidated balance sheet. Short-term lease costs were insignificant as of December 31, 2019. Classification 2019 Finance lease right-of-use assets Property, plant and equipment, net $ 41 Finance lease liabilities Current portion of long-term debt 5 Finance lease liabilities Long-term debt 24 |
Components of Lease Expense [Table Text Block] | Components of lease expense — 2019 Operating lease cost $ 50 Finance lease cost: Amortization of right-of-use assets $ 3 Interest on lease liabilities 1 Total finance lease cost $ 4 |
Supplemental Cash Flow Information Related To Leases [Table Text Block] | Supplemental cash flow information related to leases — 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 50 Operating cash flows from finance leases 1 Financing cash flows from finance leases 3 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 24 Finance leases 13 |
Supplemental Balance Sheet Information Related To Leases [Table Text Block] | Supplemental balance sheet information related to leases — 2019 Weighted-average remaining lease term (years): Operating leases 6 Finance leases 9 Weighted-average discount rate: Operating leases 6.0 % Finance leases 4.0 % |
Maturities of Operating Leases [Table Text Block] | Maturities — Operating Leases Finance Leases 2020 $ 50 $ 5 2021 42 5 2022 32 5 2023 24 4 2024 19 2 Thereafter 46 13 Total lease payments 213 34 Less: interest 31 5 Present value of lease liabilities $ 182 $ 29 |
Maturities of Finance Leases [Table Text Block] | Maturities — Operating Leases Finance Leases 2020 $ 50 $ 5 2021 42 5 2022 32 5 2023 24 4 2024 19 2 Thereafter 46 13 Total lease payments 213 34 Less: interest 31 5 Present value of lease liabilities $ 182 $ 29 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Cash obligations under future minimum rental commitments under operating leases as of December 31, 2018 are shown in the table below. Operating lease commitments are primarily related to facilities. 2019 2020 2021 2022 2023 Thereafter Total Lease commitments $ 57 $ 41 $ 35 $ 27 $ 21 $ 64 $ 245 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Changes in Each Component of AOCI of the Parent [Table Text Block] | Changes in each component of AOCI of the parent — Parent Company Stockholders Foreign Currency Translation Hedging Investments Defined Benefit Plans Accumulated Other Comprehensive Loss Balance, December 31, 2016 $ (646 ) $ (34 ) $ — $ (604 ) $ (1,284 ) Other comprehensive income (loss): Currency translation adjustments (22 ) (22 ) Holding loss on net investment hedge (2 ) (2 ) Holding gains and losses (162 ) 1 (161 ) Reclassification of amount to net income (a) 128 128 Net actuarial losses (28 ) (28 ) Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 31 31 Tax (expense) benefit 4 1 (9 ) (4 ) Other comprehensive income (loss) (24 ) (30 ) 2 (6 ) (58 ) Balance, December 31, 2017 (670 ) (64 ) 2 (610 ) (1,342 ) Other comprehensive income (loss): Currency translation adjustments (48 ) (48 ) Holding loss on net investment hedge (3 ) (3 ) Holding gains and losses 66 66 Reclassification of amount to net income (a) (56 ) (56 ) Net actuarial losses (8 ) (8 ) Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 34 34 Other 2 2 Tax expense (5 ) (5 ) Other comprehensive income (loss) (51 ) 10 — 23 (18 ) Adoption of ASU 2016-01 financial instruments adjustment, January 1, 2018 (2 ) (2 ) Balance, December 31, 2018 (721 ) (54 ) — (587 ) (1,362 ) Other comprehensive income (loss): Currency translation adjustments 8 8 Holding gains and losses 58 58 Reclassification of amount to net income (a) (33 ) (33 ) Net actuarial gains 71 71 Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) 286 286 Tax expense (1 ) (1 ) (13 ) (15 ) Other comprehensive income 7 24 — 344 375 Balance, December 31, 2019 $ (714 ) $ (30 ) $ — $ (243 ) $ (987 ) ___________________________________________________ Notes: (a) For 2019 and 2018, realized gains and losses from currency-related forward contracts associated with forecasted transactions or from other derivative instruments treated as cash flow hedges are reclassified from AOCI into the same line item in the consolidated statement of operations in which the underlying forecasted transaction or other hedged item is recorded. See Note 16 for additional details. For 2017, reclassifications from AOCI were included in other expense, net. (b) See Note 13 for additional details. |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Noncontrolling Interest [Table Text Block] | Reconciliation of changes in redeemable noncontrolling interests — 2019 2018 Balance, beginning of period $ 100 $ 47 Initial fair value of redeemable noncontrolling interests of acquired businesses 102 Capital contribution from redeemable noncontrolling interest 4 3 Purchase of redeemable noncontrolling interest (46 ) Sale of redeemable noncontrolling interest 64 Comprehensive income (loss) adjustments: Net loss attributable to redeemable noncontrolling interests (6 ) Other comprehensive income (loss) attributable to redeemable noncontrolling interests 5 (6 ) Balance, end of period $ 167 $ 100 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Earnings Per Share Calculations [Table Text Block] | Reconciliation of the numerators and denominators of the earnings per share calculations — 2019 2018 2017 Net income attributable to the parent company $ 226 $ 427 $ 111 Less: Redeemable noncontrolling interests adjustment to redemption value (6 ) Net income available to common stockholders - Numerator basic and diluted $ 226 $ 427 $ 105 Denominator: Weighted-average common shares outstanding - Basic 144.0 145.0 145.1 Employee compensation-related shares, including stock options 1.1 1.5 1.8 Weighted-average common shares outstanding - Diluted 145.1 146.5 146.9 |
Stock Compensation (Tables)
Stock Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Award Activity [Table Text Block] | Award activity — (shares in millions) Options SARs RSUs PSUs Shares Exercise Price* Shares Exercise Price* Shares Grant-Date Fair Value* Shares Grant-Date Fair Value* December 31, 2018 0.7 $ 15.33 0.1 1.8 $ 20.06 0.5 $ 22.45 Granted 1.0 17.08 0.4 16.17 Exercised or vested (0.1 ) 4.80 (0.7 ) 14.66 (0.2 ) 18.63 Forfeited or expired (0.1 ) 20.49 December 31, 2019 0.6 16.13 0.1 $ 16.27 2.0 20.56 0.7 19.99 |
Total Stock Compensation Expense and Other Annual Disclosures [Table Text Block] | 2019 2018 2017 Total stock compensation expense $ 19 $ 16 $ 23 Total grant-date fair value of awards vested 16 16 17 Cash received from exercise of stock options 2 10 Cash paid to settle SARs and RSUs 2 2 4 Intrinsic value of stock options and SARs exercised 1 3 8 Intrinsic value of RSUs and PSUs vested 17 18 20 |
Pension and Postretirement Be_2
Pension and Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Components of Net Periodic Benefit Cost (Credit) and Other Amounts Recognized in OCI [Table Text Block] | Components of net periodic benefit cost (credit) and other amounts recognized in OCI — Pension Benefits 2019 2018 2017 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Interest cost $ 40 $ 8 $ 43 $ 7 $ 51 $ 7 Expected return on plan assets (51 ) (3 ) (71 ) (3 ) (82 ) (3 ) Service cost 8 7 7 Amortization of net actuarial loss 22 6 28 6 23 7 Settlement charge 256 3 Termination benefit 1 Curtailment (1 ) Other 2 Net periodic benefit cost (credit) 267 21 — 19 (8 ) 19 Recognized in OCI: Amount due to net actuarial (gains) losses (107 ) 33 11 4 22 4 Reclassification adjustment for net actuarial losses in net periodic benefit cost (278 ) (9 ) (28 ) (6 ) (23 ) (7 ) Curtailment (1 ) Other (2 ) Total recognized in OCI (385 ) 24 (17 ) (4 ) (1 ) (4 ) Net recognized in benefit cost (credit) and OCI $ (118 ) $ 45 $ (17 ) $ 15 $ (9 ) $ 15 OPEB 2019 2018 2017 U.S. Non-U.S. Non-U.S. Non-U.S. Interest cost $ — $ 3 $ 3 $ 3 Service cost 1 1 Amortization of net actuarial gain (1 ) Net periodic benefit cost — 2 4 4 Recognized in OCI: Amount due to net actuarial (gains) losses 1 2 (7 ) 2 Reclassification adjustment for net actuarial gain in net periodic benefit cost 1 Total recognized in OCI 1 3 (7 ) 2 Net recognized in benefit cost (credit) and OCI $ 1 $ 5 $ (3 ) $ 6 |
Reconciliation of Changes in Benefit Obligations, Plan Assets and Funded Status [Table Text Block] | Funded status — The following tables provide reconciliations of the changes in benefit obligations, plan assets and funded status. Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Reconciliation of benefit obligation: Obligation at beginning of period $ 1,501 $ 364 $ 1,730 $ 377 $ — $ 83 $ 99 Interest cost 40 8 43 7 3 3 Service cost 8 7 1 Actuarial (gain) loss 13 41 (148 ) 7 1 2 (7 ) Benefit payments (90 ) (14 ) (124 ) (14 ) (1 ) (4 ) (5 ) Acquisitions 161 25 3 Settlements (853 ) (13 ) (2 ) Curtailment (1 ) Translation adjustments (6 ) (18 ) 4 (8 ) Obligation at end of period $ 772 $ 412 $ 1,501 $ 364 $ 3 $ 88 $ 83 Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Reconciliation of fair value of plan assets: Fair value at beginning of period $ 1,301 $ 71 $ 1,513 $ 71 $ — $ — $ — Actual return on plan assets 171 11 (88 ) 6 Employer contributions 59 17 16 1 4 5 Benefit payments (90 ) (14 ) (124 ) (14 ) (1 ) (4 ) (5 ) Settlements (853 ) (13 ) (2 ) Acquisitions 136 7 Translation adjustments (1 ) (6 ) Fair value at end of period $ 724 $ 78 $ 1,301 $ 71 $ — $ — $ — Funded status at end of period $ (48 ) $ (334 ) $ (200 ) $ (293 ) $ (3 ) $ (88 ) $ (83 ) |
Amounts Recognized in the Balance Sheet [Table Text Block] | Amounts recognized in the balance sheet — Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Amounts recognized in the consolidated balance sheet: Noncurrent assets $ — $ 4 $ — $ 3 $ — $ — $ — Current liabilities (13 ) (13 ) (5 ) (5 ) Noncurrent liabilities (48 ) (325 ) (200 ) (283 ) (3 ) (83 ) (78 ) Net amount recognized $ (48 ) $ (334 ) $ (200 ) $ (293 ) $ (3 ) $ (88 ) $ (83 ) Amounts recognized in AOCI — Pension Benefits OPEB 2019 2018 2019 2018 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Non-U.S. Amounts recognized in AOCI: Net actuarial loss (gain) $ 157 $ 108 $ 542 $ 84 $ 1 $ (12 ) $ (15 ) AOCI before tax 157 108 542 84 1 (12 ) (15 ) Deferred taxes 13 (28 ) (6 ) (22 ) 4 4 Net $ 170 $ 80 $ 536 $ 62 $ 1 $ (8 ) $ (11 ) |
Aggregate Funding Levels [Table Text Block] | Aggregate funding levels — The following table presents information regarding the aggregate funding levels of our defined benefit pension plans at December 31: 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Plans with fair value of plan assets in excess of obligations: Accumulated benefit obligation $ 15 $ 17 $ 14 $ 15 Projected benefit obligation 15 17 14 16 Fair value of plan assets 16 21 15 19 Plans with obligations in excess of fair value of plan assets: Accumulated benefit obligation $ 757 $ 363 $ 1,487 $ 322 Projected benefit obligation 757 395 1,487 348 Fair value of plan assets 708 57 1,286 52 |
Fair Value of Pension Plan Assets [Table Text Block] | Fair value of pension plan assets — Fair Value Measurements at December 31, 2019 U.S. Non-U.S. Asset Category Total Level 1 Level 2 Level 3 NAV (a) Level 1 Level 2 Level 3 Equity securities: U.S. all cap (b) $ 39 $ 39 $ — $ — $ — $ — $ — $ — U.S. large cap 28 28 EAFE composite 19 19 Emerging markets 9 9 Fixed income securities: Corporate bonds 492 186 306 U.S. Treasury strips 37 37 Non-U.S. government securities 21 21 Emerging market debt 11 11 Alternative investments: Insurance contracts (d) 50 4 46 Real estate 20 20 Other 11 11 Cash and cash equivalents 65 65 Total $ 802 $ 39 $ 288 $ 4 $ 393 $ — $ 32 $ 46 Fair Value Measurements at December 31, 2018 U.S. Non-U.S. Asset Category Total Level 1 Level 2 NAV (a) Level 1 Level 2 Level 3 Equity securities: U.S. all cap (b) $ 35 $ 35 $ — $ — $ — $ — $ — U.S. large cap 43 43 U.S. small cap 4 4 EAFE composite 41 41 Emerging markets 28 28 Fixed income securities: U.S. bonds (c) 33 33 Corporate bonds 814 616 198 U.S. Treasury strips 115 115 Non-U.S. government securities 25 25 Emerging market debt 48 48 Alternative investments: Insurance contracts (d) 35 35 Real estate 21 21 Other 10 10 Cash and cash equivalents 120 119 1 Total $ 1,372 $ 39 $ 883 $ 379 $ — $ 36 $ 35 ________________________________ Notes: (a) Certain assets are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. (b) This category comprises a combination of small-, mid- and large-cap equity stocks that are allocated at the investment manager's discretion. Investments include common and preferred securities as well as equity funds that invest in these instruments. (c) This category represents a combination of high-yield and investment grade corporate bonds, sovereign bonds, Yankee bonds, asset-backed securities and U.S. government bonds. Investments include fixed income funds that invest in these instruments. (d) This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities. |
Reconciliation of Level 3 Assets [Table Text Block] | 2019 2019 2018 U.S. Non-U.S. Non-U.S. Reconciliation of Level 3 Assets Insurance Contracts Insurance Contracts Insurance Contracts Fair value at beginning of period $ — $ 35 $ 33 Actual gains relating to assets still held at the reporting date 7 4 Purchases, sales and settlements 4 5 (1 ) Currency impact (1 ) (1 ) Fair value at end of period $ 4 $ 46 $ 35 |
One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] | A one-percentage-point change in assumed health care cost trend rates would have the following effects for 2019 : 1% Point Increase 1% Point Decrease Effect on total of service and interest cost components $ — $ — Effect on OPEB obligations 9 (8 ) |
Expected Future Benefit Payments [Table Text Block] | Estimated future benefit payments and contributions — Expected benefit payments by our pension and OPEB plans for each of the next five years and for the following five-year period are as follows: Pension Benefits OPEB Year U.S. Non-U.S. U.S. Non-U.S. 2020 $ 52 $ 19 $ — $ 5 2021 52 15 5 2022 52 17 5 2023 51 17 5 2024 50 20 5 2025 to 2029 236 103 1 24 Total $ 493 $ 191 $ 1 $ 49 |
Multiemployer Pension Plans [Table Text Block] | Employer Identification Number/ Plan Number PPA Zone Status Funding Plan Pending/ Implemented Contributions by Dana Surcharge Imposed Pension Fund 2019 2018 2019 2018 2017 SPT 23-6648508 / 499 Green Green No $ 13 $ 12 $ 11 No |
Pension Plan [Member] | |
Significant Weighted Average Assumptions Used [Table Text Block] | Significant assumptions — The significant weighted-average assumptions used in the measurement of pension benefit obligations at December 31 of each year and the net periodic benefit cost for each year are as follows: 2019 2018 2017 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Pension benefit obligations: Discount rate 3.21 % 1.72 % 4.22 % 2.42 % 3.55 % 2.25 % Net periodic benefit cost: Discount rate 3.41 % 2.50 % 2.56 % 2.54 % 3.24 % 2.34 % Rate of compensation increase N/A 3.28 % N/A 3.21 % N/A 3.33 % Expected return on plan assets 6.00 % 4.61 % 6.00 % 4.66 % 6.00 % 5.92 % |
Other Postretirement Benefits Plan [Member] | |
Significant Weighted Average Assumptions Used [Table Text Block] | The significant weighted-average assumptions used in the measurement of OPEB obligations at December 31 of each year and the net periodic benefit cost for each year are as follows: 2019 2018 2017 U.S. Non-U.S. Non-U.S. Non-U.S. OPEB benefit obligations: Discount rate 3.37 % 3.10 % 3.71 % 3.41 % Net periodic benefit cost: Discount rate 4.08 % 3.76 % 3.42 % 3.70 % Initial health care cost trend rate N/A 4.22 % 4.12 % 5.07 % Ultimate health care cost trend rate N/A 4.93 % 5.10 % 5.07 % Year ultimate reached N/A 2023 2023 2018 |
Marketable Securities (Tables)
Marketable Securities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Marketable Securities [Table Text Block] | 2019 2018 Cost Unrealized Gains (Losses) Fair Value Cost Unrealized Gains (Losses) Fair Value U.S. government securities $ — $ — $ — $ 2 $ — $ 2 Corporate securities — 4 4 Certificates of deposit 19 19 15 15 Total marketable securities $ 19 $ — $ 19 $ 21 $ — $ 21 |
Financing Agreements (Tables)
Financing Agreements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | Long-term debt at December 31 — Interest 2019 2018 Senior Notes due September 15, 2023 6.000% $ — $ 300 Senior Notes due December 15, 2024 5.500% 425 425 Senior Notes due April 15, 2025 5.750% * 400 400 Senior Notes due June 1, 2026 6.500% * 375 375 Senior Notes due November 15, 2027 5.375% 300 — Term Facility A 474 265 Term Facility B 349 — Other indebtedness 61 28 Debt issuance costs (28 ) (18 ) 2,356 1,775 Less: Current portion of long-term debt 20 20 Long-term debt, less debt issuance costs $ 2,336 $ 1,755 * In conjunction with the issuance of the April 2025 Notes we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . In conjunction with the issuance of the June 2026 Notes we entered into 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro-denominated debt at a fixed rate of 5.140% . See Note 16 for additional information. |
Scheduled Principal Payments on Long-Term Debt [Table Text Block] | Scheduled principal payments on long-term debt, excluding finance leases at December 31, 2019 — 2020 2021 2022 2023 2024 Maturities $ 15 $ 31 $ 30 $ 30 $ 821 |
Debt Redemption Provisions [Table Text Block] | We may redeem some or all of the senior notes at the following redemption prices (expressed as percentages of principal amount), plus accrued and unpaid interest to the redemption date, if redeemed during the 12-month period commencing on the anniversary date of the senior notes in the years set forth below: Redemption Price December April June November Year 2024 Notes 2025 Notes 2026 Notes 2027 Notes 2020 101.833 % 104.313 % 2021 100.917 % 102.875 % 103.250 % 2022 100.000 % 101.438 % 102.167 % 102.688 % 2023 100.000 % 100.000 % 101.083 % 101.344 % 2024 100.000 % 100.000 % 100.000 % 2025 100.000 % 100.000 % 2026 100.000 % |
Schedule of Term A Facility and Revolving Facility Margin Arrangements [Table Text Block] | Advances under the Term A Facility and Revolving Facility bear interest at a floating rate based on, at our option, the base rate or Eurodollar rate (each as described in the credit agreement) plus a margin as set forth below: Margin Total Net Leverage Ratio Base Rate Eurodollar Rate Less than or equal to 1.00:1.00 0.25 % 1.25 % Greater than 1.00:1.00 but less than or equal to 2.00:1.00 0.50 % 1.50 % Greater than 2.00:1.00 0.75 % 1.75 % |
Schedule of Revolving Facility Commitment Fee Agreements [Table Text Block] | Commitment fees are applied based on the average daily unused portion of the available amounts under the Revolving Facility as set forth below: Total Net Leverage Ratio Commitment Fee Less than or equal to 1.00:1.00 0.250 % Greater than 1.00:1.00 but less than or equal to 2.00:1.00 0.375 % Greater than 2.00:1.00 0.500 % |
Fair Value Measurements and D_2
Fair Value Measurements and Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis [Table Text Block] | Fair value measurements on a recurring basis — Assets and liabilities that are carried in our balance sheet at fair value are as follows: Fair Value Category Balance Sheet Location Fair Value Level December 31, 2019 December 31, 2018 Available-for-sale securities Marketable securities 2 $ 19 $ 21 Currency forward contracts Cash flow hedges Accounts receivable - Other 2 14 6 Cash flow hedges Other accrued liabilities 2 2 5 Undesignated Accounts receivable - Other 2 1 2 Undesignated Other accrued liabilities 2 1 1 Interest rate collars Other accrued liabilities 2 3 Currency swaps Cash flow hedges Other noncurrent liabilities 2 71 118 |
Carrying Amounts and Fair Values of Financial Instruments [Table Text Block] | Fair value of financial instruments — The financial instruments that are not carried in our balance sheet at fair value are as follows: 2019 2018 Fair Value Level Carrying Value Fair Value Carrying Value Fair Value Senior notes 2 $ 1,500 $ 1,570 $ 1,500 $ 1,442 Term Facility 2 823 823 265 265 Other indebtedness* 2 61 57 28 23 Total $ 2,384 $ 2,450 $ 1,793 $ 1,730 * The carrying value includes the unamortized portion of a fair value adjustment related to a terminated interest rate swap at both dates. |
Summary of Fixed-to-Fixed Cross-Currency Swaps [Table Text Block] | The following fixed-to-fixed cross-currency swaps were outstanding at December 31, 2019 : Underlying Financial Instrument Derivative Financial Instrument Description Type Face Amount Rate Designated Notional Amount Traded Amount Inflow Rate Outflow Rate June 2026 Notes Payable $ 375 6.50 % $ 375 € 338 6.50 % 5.14 % April 2025 Notes Payable $ 400 5.75 % $ 400 € 371 5.75 % 3.85 % Luxembourg Intercompany Notes Receivable € 281 3.91 % € 281 $ 300 6.00 % 3.91 % |
Notional Amount of Currency Derivatives [Table Text Block] | The following currency derivatives were outstanding at December 31, 2019 : Notional Amount (U.S. Dollar Equivalent) Functional Currency Traded Currency Designated Undesignated Total Maturity U.S. dollar Mexican peso, euro $ 161 $ 16 $ 177 Mar-21 Euro U.S. dollar, Canadian dollar, Hungarian forint, British pound, Swiss franc, Indian rupee, Russian ruble, Chinese renminbi, Mexican peso, Australian dollar, Japanese yen 110 21 131 Jan-24 British pound U.S. dollar, euro 2 5 7 Nov-20 Swedish krona euro 1 1 Jan-20 South African rand U.S. dollar, euro, Thai baht 7 4 11 Dec-20 Canadian dollar U.S. dollar 11 11 Feb-21 Thai baht U.S. dollar, euro 14 38 52 Sep-20 Brazilian real U.S. dollar, euro 64 10 74 Dec-20 Indian rupee U.S. dollar, British pound, euro 37 37 Dec-20 Chinese renminbi U.S. dollar, Canadian dollar, euro 7 7 Feb-20 Total forward contracts 369 139 508 U.S. dollar Euro 315 315 Sep-23 Euro U.S. dollar 775 775 Jun-26 Total currency swaps 1,090 — 1,090 Total currency derivatives $ 1,459 $ 139 $ 1,598 |
Deferred Gain (Loss) in AOCI [Table Text Block] | The following table provides a summary of deferred gains (losses) reported in AOCI as well as the amount expected to be reclassified to income in one year or less: Deferred Gain (Loss) in AOCI December 31, 2019 December 31, 2018 Gain (loss) expected to be reclassified into income in one year or less Forward Contracts $ 6 $ 2 $ 6 Collar (3 ) Cross-Currency Swaps (36 ) (60 ) Total $ (33 ) $ (58 ) $ 6 |
Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships [Table Text Block] | The following table provides a summary of the location and amount of gains or losses recognized in the consolidated statement of operations associated with cash flow hedging relationships: 2019 Derivatives Designated as Cash Flow Hedges Net sales Cost of sales Other expense, net Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 8,620 $ 7,489 $ 25 (Gain) or loss on cash flow hedging relationships Foreign currency forwards Amount of (gain) loss reclassified from AOCI into income (9 ) Cross-currency swaps Amount of (gain) loss reclassified from AOCI into income (24 ) 2018 Derivatives Designated as Cash Flow Hedges Net sales Cost of sales Other expense, net Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 8,143 $ 6,986 $ 29 (Gain) or loss on cash flow hedging relationships Foreign currency forwards Amount of (gain) loss reclassified from AOCI into income (1 ) Cross-currency swaps Amount of (gain) loss reclassified from AOCI into income (55 ) |
Derivatives Not Designated as Hedging Instruments [Table Text Block] | The following table provides a summary of the location and amount of gains or losses recognized in the consolidated statement of operations associated with undesignated hedging relationships. Amount of Gain (Loss) Recognized in Income Derivatives Not Designated as Hedging Instruments 2019 2018 Foreign currency forward contracts $ — $ (5 ) Cost of sales Foreign currency forward contracts (14 ) (5 ) Other expense, net |
Warranty Obligations (Tables)
Warranty Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Product Warranties Disclosures [Abstract] | |
Changes in Warranty Liabilities [Table Text Block] | Changes in warranty liabilities — 2019 2018 2017 Balance, beginning of period $ 75 $ 76 $ 66 Acquisitions 24 6 Amounts accrued for current period sales 35 37 32 Adjustments of prior estimates 2 (1 ) 11 Settlements of warranty claims (35 ) (35 ) (42 ) Currency impact (2 ) 3 Balance, end of period $ 101 $ 75 $ 76 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Tax Expense (Benefit) [Table Text Block] | Income tax expense (benefit) — 2019 2018 2017 Current U.S. federal and state $ 13 $ 14 $ 6 Non-U.S. 92 128 98 Total current 105 142 104 Deferred U.S. federal and state (104 ) (47 ) 164 Non-U.S. (33 ) (17 ) 15 Total deferred (137 ) (64 ) 179 Total expense (benefit) $ (32 ) $ 78 $ 283 |
Income Before Income Taxes [Table Text Block] | Income before income taxes — 2019 2018 2017 U.S. operations $ (166 ) $ 26 $ 60 Non-U.S. operations 337 468 320 Earnings before income taxes $ 171 $ 494 $ 380 |
Effective Tax Rate Reconciliation [Table Text Block] | Effective tax rate reconciliation — 2019 2018 2017 U.S. federal income tax rate 21 % 21 % 35 % Adjustments resulting from: State and local income taxes, net of federal benefit (1 ) 1 1 Non-U.S. income (expense) 15 5 (11 ) Credits and tax incentives (37 ) (18 ) (16 ) Foreign derived intangible income (2 ) U.S. tax on non-U.S. earnings 12 3 12 Intercompany sale of certain operating assets 1 (6 ) Settlement and return adjustments (11 ) 6 (2 ) Enacted change in tax laws 2 1 49 Pension settlement 43 Miscellaneous items (1 ) 1 Valuation allowance adjustments (60 ) (4 ) 11 Effective income tax rate (19 )% 16 % 74 % |
Deferred Tax Assets and Liabilities [Table Text Block] | Deferred tax assets and liabilities — Temporary differences and carryforwards give rise to the following deferred tax assets and liabilities. 2019 2018 Net operating loss carryforwards $ 258 $ 255 Postretirement benefits, including pensions 87 98 Research and development costs 124 94 Expense accruals 81 75 Other tax credits recoverable 244 232 Capital loss carryforwards 42 40 Inventory reserves 19 13 Postemployment and other benefits 6 6 Leasing activities 46 Total 907 813 Valuation allowances (190 ) (281 ) Deferred tax assets 717 532 Unremitted earnings (4 ) (1 ) Intangibles (34 ) (11 ) Depreciation (104 ) (44 ) Other (33 ) (59 ) Deferred tax liabilities (175 ) (115 ) Net deferred tax assets $ 542 $ 417 |
Net Operating Loss Carryforwards [Table Text Block] | The following table identifies the net operating loss deferred tax asset components and the related allowances that existed at December 31, 2019 . Due to time limitations on the ability to realize the benefit of the carryforwards, additional portions of these deferred tax assets may become unrealizable in the future. Deferred Tax Asset Valuation Allowance Carryforward Period Earliest Year of Expiration Net operating losses U.S. federal $ 59 $ — 20 2030 U.S. state 75 (37 ) Various 2020 Brazil 17 (6 ) Unlimited France 8 Unlimited Australia 24 (24 ) Unlimited Italy 32 (6 ) Unlimited Germany 6 (6 ) Unlimited U.K. 3 (3 ) Unlimited Canada 21 (20 ) 20 2022 Argentina 1 (1 ) 5 2024 China 12 (11 ) 5 2020 Total $ 258 $ (114 ) |
Reconciliation of Gross Unrecognized Tax Benefits [Table Text Block] | Reconciliation of gross unrecognized tax benefits — 2019 2018 2017 Balance, beginning of period $ 107 $ 119 $ 117 Decrease related to expiration of statute of limitations (10 ) (4 ) (3 ) Decrease related to prior years tax positions (15 ) (25 ) Increase related to prior years tax positions 13 8 15 Increase related to current year tax positions 9 10 15 Decrease related to settlements (11 ) Balance, end of period $ 119 $ 107 $ 119 |
Other Expense, Net (Tables)
Other Expense, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Expense, Net [Table Text Block] | 2019 2018 2017 Non-service cost components of pension and OPEB costs $ (23 ) $ (15 ) $ (7 ) Government grants and incentives 15 12 7 Foreign exchange loss (11 ) (12 ) (3 ) Strategic transaction expenses, net of transaction breakup fee income (41 ) (18 ) (25 ) Non-income tax legal judgment 6 Gain on sale of marketable securities 1 Gain on liquidation of foreign subsidiary 12 Amounts attributable to previously divested/closed operations 3 Other, net 16 4 9 Other expense, net (25 ) (29 ) (16 ) |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following table disaggregates revenue for each of our operating segments by geographical market: 2019 Light Vehicle Commercial Vehicle Off-Highway Power Technologies Total North America $ 2,679 $ 948 $ 317 $ 529 $ 4,473 Europe 325 233 1,617 431 2,606 South America 137 312 40 20 509 Asia Pacific 468 118 386 60 1,032 Total $ 3,609 $ 1,611 $ 2,360 $ 1,040 $ 8,620 2018 North America $ 2,477 $ 908 $ 141 $ 580 $ 4,106 Europe 347 271 1,423 443 2,484 South America 186 308 34 18 546 Asia Pacific 565 125 246 71 1,007 Total $ 3,575 $ 1,612 $ 1,844 $ 1,112 $ 8,143 |
Segments, Geographical Area a_2
Segments, Geographical Area and Major Customer Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Information [Table Text Block] | Segment information — 2019 External Sales Inter- Segment Sales Segment EBITDA Capital Spend Depreciation Net Assets Light Vehicle $ 3,609 $ 124 $ 438 $ 179 $ 149 $ 1,310 Commercial Vehicle 1,611 100 138 52 37 888 Off-Highway 2,360 17 330 85 87 1,369 Power Technologies 1,040 23 117 46 30 379 Eliminations and other (264 ) 64 19 221 Total $ 8,620 $ — $ 1,023 $ 426 $ 322 $ 4,167 2018 Light Vehicle $ 3,575 $ 133 $ 398 $ 195 $ 124 $ 1,264 Commercial Vehicle 1,612 107 146 27 38 577 Off-Highway 1,844 12 285 36 43 709 Power Technologies 1,112 23 149 36 30 376 Eliminations and other (275 ) 31 25 83 Total $ 8,143 $ — $ 978 $ 325 $ 260 $ 3,009 2017 Light Vehicle $ 3,172 $ 130 $ 359 $ 279 $ 88 $ 1,192 Commercial Vehicle 1,412 97 116 31 41 575 Off-Highway 1,521 4 212 32 40 698 Power Technologies 1,104 17 168 32 29 380 Eliminations and other (248 ) 19 22 124 Total $ 7,209 $ — $ 855 $ 393 $ 220 $ 2,969 |
Reconciliation of Segment EBITDA to Consolidated Net Income [Table Text Block] | Reconciliation of segment EBITDA to consolidated net income — 2019 2018 2017 Segment EBITDA $ 1,023 $ 978 $ 855 Corporate expense and other items, net (4 ) (21 ) (20 ) Depreciation (322 ) (260 ) (220 ) Amortization (17 ) (10 ) (13 ) Non-service cost components of pension and OPEB costs (23 ) (15 ) Restructuring charges, net (29 ) (25 ) (14 ) Stock compensation expense (19 ) (16 ) (23 ) Strategic transaction expenses, net of transaction breakup fee income (41 ) (18 ) (25 ) Acquisition related inventory adjustments (13 ) (14 ) Non-income tax legal judgment 6 Other items (11 ) (17 ) (11 ) Gain (loss) on disposal group held for sale 3 (27 ) Gain on liquidation of foreign subsidiary 12 Impairment of goodwill and indefinite-lived intangible asset (6 ) (20 ) Amounts attributable to previously divested/closed operations (5 ) 2 Pension settlement charges (259 ) Earnings before interest and income taxes 292 579 490 Loss on extinguishment of debt (9 ) (19 ) Interest expense 122 96 102 Interest income 10 11 11 Earnings before income taxes 171 494 380 Income tax expense (benefit) (32 ) 78 283 Equity in earnings of affiliates 30 24 19 Net income $ 233 $ 440 $ 116 |
Reconciliation of Segment Net Assets to Consolidated Total Assets [Table Text Block] | Reconciliation of segment net assets to consolidated total assets — 2019 2018 Segment net assets $ 4,167 $ 3,009 Accounts payable and other current liabilities 1,723 1,672 Other current and long-term assets 1,330 1,237 Consolidated total assets $ 7,220 $ 5,918 |
Geographic Information [Table Text Block] | Geographic information — Of our 2019 consolidated net sales, the U.S., Italy and Germany account for 47% , 14% and 6% , respectively. No other country accounted for more than 5% of our consolidated net sales during 2019. Sales are attributed to the location of the product entity recording the sale. Long-lived assets represent property, plant and equipment. Net Sales Long-Lived Assets 2019 2018 2017 2019 2018 2017 North America United States $ 4,069 $ 3,613 $ 3,209 $ 972 $ 860 $ 828 Other North America 404 493 479 105 87 82 Total 4,473 4,106 3,688 1,077 947 910 Europe Italy 1,186 971 762 248 138 122 Germany 478 513 473 131 133 149 Other Europe 942 1,000 919 265 241 211 Total 2,606 2,484 2,154 644 512 482 South America 509 546 500 126 129 153 Asia Pacific 1,032 1,007 867 418 262 262 Total $ 8,620 $ 8,143 $ 7,209 $ 2,265 $ 1,850 $ 1,807 |
Equity Affiliates (Tables)
Equity Affiliates (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments [Table Text Block] | Equity method investments exceeding $5 at December 31, 2019 — Ownership Investment Dongfeng Dana Axle Co., Ltd. (DDAC) 50% $ 97 Bendix Spicer Foundation Brake, LLC 20% 54 Axles India Limited 48% 10 Ashwoods Innovations Ltd. 63% 8 Taiway Ltd 28% 5 All others as a group 6 Investments in equity affiliates 180 Investment in affiliates carried at cost 2 Investment in affiliates $ 182 |
Quarterly Results (Unaudited) (
Quarterly Results (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results [Table Text Block] | Dana Incorporated Quarterly Results (Unaudited) (In millions, except per share amounts) 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 2,163 $ 2,306 $ 2,164 $ 1,987 Gross margin $ 300 $ 326 $ 282 $ 223 Net income (loss) $ 101 $ (66 ) $ 112 $ 86 Net income (loss) attributable to the parent company $ 98 $ (68 ) $ 111 $ 85 Net income (loss) per share available to parent company common stockholders Basic $ 0.68 $ (0.47 ) $ 0.77 $ 0.59 Diluted $ 0.68 $ (0.47 ) $ 0.77 $ 0.58 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Net sales $ 2,138 $ 2,054 $ 1,978 $ 1,973 Gross margin $ 307 $ 308 $ 286 $ 256 Net income $ 111 $ 127 $ 96 $ 106 Net income attributable to the parent company $ 108 $ 124 $ 95 $ 100 Net income per share available to parent company common stockholders Basic $ 0.74 $ 0.85 $ 0.66 $ 0.69 Diluted $ 0.73 $ 0.85 $ 0.65 $ 0.69 _________________________________________________________ Note: Gross margin is net sales less cost of sales. |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 |
Carrying amount of equipment related to long-term supply arrangements | $ 66 | $ 66 | |||
Receivable related to long-term supply arrangements | $ 38 | $ 38 | |||
Measurement of tax benefit, minimum likelihood of the largest amount being realized upon ultimate resolution | 50.00% | ||||
Research and development expenses | $ 112 | $ 103 | $ 102 | ||
Minimum [Member] | |||||
Equity method investment, percentage of ownership | 20.00% | 20.00% | |||
Minimum [Member] | Buildings and Building Improvements [Member] | |||||
Estimated useful lives | 20 years | ||||
Minimum [Member] | Machinery and Equipment [Member] | |||||
Estimated useful lives | 5 years | ||||
Minimum [Member] | Tooling and Office Equipment [Member] | |||||
Estimated useful lives | 3 years | ||||
Minimum [Member] | Furniture and Fixtures [Member] | |||||
Estimated useful lives | 3 years | ||||
Maximum [Member] | |||||
Equity method investment, percentage of ownership | 50.00% | 50.00% | |||
Cost method investment, percentage of ownership | 20.00% | 20.00% | |||
Finance Leases, Term of leases | 12 months | ||||
Operating Leases, Term of leases | 12 months | ||||
Maximum [Member] | Buildings and Building Improvements [Member] | |||||
Estimated useful lives | 30 years | ||||
Maximum [Member] | Machinery and Equipment [Member] | |||||
Estimated useful lives | 10 years | ||||
Maximum [Member] | Tooling and Office Equipment [Member] | |||||
Estimated useful lives | 5 years | ||||
Maximum [Member] | Furniture and Fixtures [Member] | |||||
Estimated useful lives | 10 years | ||||
ARGENTINA | |||||
Cumulative Inflation Rate | 100.00% |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Details) € in Millions, $ in Millions | Aug. 26, 2019USD ($) | Jul. 29, 2019USD ($) | Jun. 06, 2019USD ($) | Feb. 28, 2019USD ($) | Jan. 11, 2019USD ($) | Aug. 08, 2018USD ($) | Jun. 22, 2018USD ($) | Mar. 01, 2017USD ($) | Feb. 01, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jul. 28, 2019 | Dec. 31, 2017EUR (€) | Feb. 28, 2017USD ($) |
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Consideration received from sale of interest to noncontrolling shareholder | $ 65 | |||||||||||||||||||||||||||
Proceeds from sale of interest to noncontrolling shareholder | 53 | $ 53 | ||||||||||||||||||||||||||
Note receivable related to sale of interest to noncontrolling shareholder | $ 12 | |||||||||||||||||||||||||||
Note receivable term | 5 years | 5 years | ||||||||||||||||||||||||||
Interest rate on note receivable | 5.00% | |||||||||||||||||||||||||||
Gain recognized on remeasurement of previously held equity method investment | $ 2 | |||||||||||||||||||||||||||
Purchase price, cash consideration | 668 | 153 | 185 | |||||||||||||||||||||||||
Transaction related expenses | 41 | 18 | 25 | |||||||||||||||||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | 8,620 | 8,143 | 7,209 | |||||||||||||||||
Payments to acquire redeemable noncontrolling interests | 43 | |||||||||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership interest in joint venture | 20.00% | 20.00% | ||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership interest in joint venture | 50.00% | 50.00% | ||||||||||||||||||||||||||
Developed Technology [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 133 | 107 | $ 107 | $ 133 | 107 | |||||||||||||||||||||||
Trademarks and Trade Names [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | 30 | 16 | 16 | 30 | 16 | |||||||||||||||||||||||
Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 509 | $ 460 | 460 | 509 | 460 | |||||||||||||||||||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership interest in joint venture | 50.00% | |||||||||||||||||||||||||||
Nordresa [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 100.00% | |||||||||||||||||||||||||||
Total purchase consideration | $ 12 | |||||||||||||||||||||||||||
SME [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 100.00% | |||||||||||||||||||||||||||
Total purchase consideration | $ 88 | |||||||||||||||||||||||||||
Purchase price, cash consideration | 62 | |||||||||||||||||||||||||||
Net sales | $ 21 | |||||||||||||||||||||||||||
Notes Issued | $ 26 | |||||||||||||||||||||||||||
SME [Member] | Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 1 year | |||||||||||||||||||||||||||
SME [Member] | Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 20 years | |||||||||||||||||||||||||||
SME [Member] | Developed Technology [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 15 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 12 years | |||||||||||||||||||||||||||
SME [Member] | Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 9 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 10 years | |||||||||||||||||||||||||||
SME [Member] | Note Payable SME [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Interest rate | 5.00% | |||||||||||||||||||||||||||
SME [Member] | Hydro-Quebec [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership percentage by noncontrolling owners | 45.00% | |||||||||||||||||||||||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 50.00% | 100.00% | 100.00% | |||||||||||||||||||||||||
Total purchase consideration | $ 95 | |||||||||||||||||||||||||||
Purchase price, cash consideration | 50 | |||||||||||||||||||||||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 10 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 7 years | |||||||||||||||||||||||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | Hydro-Quebec [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership percentage by noncontrolling owners | 45.00% | 22.50% | ||||||||||||||||||||||||||
ODS [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 100.00% | |||||||||||||||||||||||||||
Total purchase consideration | $ 615 | |||||||||||||||||||||||||||
Purchase price, cash consideration | 626 | |||||||||||||||||||||||||||
Transaction related expenses | $ 13 | |||||||||||||||||||||||||||
Net sales | $ 630 | |||||||||||||||||||||||||||
Purchase price adjustments | $ (11) | |||||||||||||||||||||||||||
ODS [Member] | Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 3 years | |||||||||||||||||||||||||||
ODS [Member] | Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 25 years | |||||||||||||||||||||||||||
ODS [Member] | Developed Technology [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 11 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 7 years | |||||||||||||||||||||||||||
ODS [Member] | Trademarks and Trade Names [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 13 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 10 years | |||||||||||||||||||||||||||
ODS [Member] | Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 34 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 12 years | |||||||||||||||||||||||||||
TM4 [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 55.00% | |||||||||||||||||||||||||||
Total purchase consideration | $ 125 | |||||||||||||||||||||||||||
Purchase price, cash consideration | $ 125 | |||||||||||||||||||||||||||
Transaction related expenses | $ 5 | |||||||||||||||||||||||||||
Net sales | $ 11 | |||||||||||||||||||||||||||
TM4 [Member] | Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 5 years | |||||||||||||||||||||||||||
TM4 [Member] | Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 6 years | |||||||||||||||||||||||||||
TM4 [Member] | Developed Technology [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 14 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 10 years | |||||||||||||||||||||||||||
TM4 [Member] | Trademarks and Trade Names [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Indefinite-lived intangible assets | $ 10 | |||||||||||||||||||||||||||
TM4 [Member] | Hydro-Quebec [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership percentage by noncontrolling owners | 45.00% | |||||||||||||||||||||||||||
USM - Warren [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Total purchase consideration | $ 78 | |||||||||||||||||||||||||||
Transaction related expenses | 5 | |||||||||||||||||||||||||||
Net sales | $ 96 | |||||||||||||||||||||||||||
Business Combination, Contract Price | $ 104 | |||||||||||||||||||||||||||
Accounts payable settled | $ 25 | |||||||||||||||||||||||||||
Purchase price adjustments | $ 1 | |||||||||||||||||||||||||||
USM - Warren [Member] | Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 1 year | |||||||||||||||||||||||||||
USM - Warren [Member] | Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 17 years | |||||||||||||||||||||||||||
USM - Warren [Member] | Developed Technology [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 3 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 18 years | |||||||||||||||||||||||||||
USM - Warren [Member] | Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 30 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 11 years | |||||||||||||||||||||||||||
BFP and BPT [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Percentage of ownership interests acquired | 80.00% | |||||||||||||||||||||||||||
Total purchase consideration | $ 201 | |||||||||||||||||||||||||||
Purchase price, cash consideration | $ 181 | |||||||||||||||||||||||||||
Transaction related expenses | $ 7 | |||||||||||||||||||||||||||
Net sales | $ 401 | |||||||||||||||||||||||||||
Purchase price adjustments | $ 9 | |||||||||||||||||||||||||||
Agreement to purchase certain real estate | € | € 25 | |||||||||||||||||||||||||||
Net cash payment from previous acquisition | $ 20 | |||||||||||||||||||||||||||
Payments to acquire redeemable noncontrolling interests | $ 43 | |||||||||||||||||||||||||||
Received in settlement of all pending and future claims | $ 10 | |||||||||||||||||||||||||||
BFP and BPT [Member] | Minimum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 3 years | |||||||||||||||||||||||||||
BFP and BPT [Member] | Maximum [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Fixed asset, useful life | 30 years | |||||||||||||||||||||||||||
BFP and BPT [Member] | Trademarks and Trade Names [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 12 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 17 years | |||||||||||||||||||||||||||
BFP and BPT [Member] | Customer Relationships [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Finite-lived intangible assets | $ 29 | |||||||||||||||||||||||||||
Acquired finite-lived intangible assets, weighted average useful life | 17 years | |||||||||||||||||||||||||||
BFP and BPT [Member] | Interfind S.p.A. [Member] | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||
Ownership percentage by noncontrolling owners | 20.00% |
Acquisitions - Purchase Price A
Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Millions | Jun. 06, 2019 | Feb. 28, 2019 | Jan. 11, 2019 | Jun. 22, 2018 | Mar. 01, 2017 | Feb. 01, 2017 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 668 | $ 153 | $ 185 | ||||||||
Goodwill | $ 127 | $ 493 | $ 264 | $ 127 | |||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 50 | ||||||||||
Business Combination, Consideration Transferred, Other | 45 | ||||||||||
Total purchase consideration | 95 | ||||||||||
Business Combination, Cash and cash equivalents | 2 | ||||||||||
Business Combination, Accounts receivable - Trade | 17 | ||||||||||
Business Combination, Inventories | 9 | ||||||||||
Goodwill | 63 | ||||||||||
Business Combination, Intangibles | 10 | ||||||||||
Business Combination, Property, plant and equipment | 2 | ||||||||||
Business Combination, Accounts payable | (4) | ||||||||||
Business Combination, Other accrued liabilities | (3) | ||||||||||
Business Combination, Other noncurrent liabilities | (1) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 95 | ||||||||||
ODS [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 626 | ||||||||||
Business Combination, Purchase Price Adjustments | (11) | ||||||||||
Total purchase consideration | 615 | ||||||||||
Business Combination, Cash and cash equivalents | 76 | ||||||||||
Business Combination, Accounts receivable - Trade | 150 | ||||||||||
Business Combination, Accounts receivable - Other | 15 | ||||||||||
Business Combination, Inventories | 190 | ||||||||||
Business Combination, Other current assets | 16 | ||||||||||
Goodwill | 92 | ||||||||||
Business Combination, Intangibles | 58 | ||||||||||
Business Combination, Deferred tax assets | 27 | ||||||||||
Business Combination, Other noncurrent assets | 1 | ||||||||||
Business Combination, Investment In affiliates | 7 | ||||||||||
Business Combination, Operating lease assets | 4 | ||||||||||
Business Combination, Property, plant and equipment | 333 | ||||||||||
Business Combination, Notes payable including current portion of long-term debt | (2) | ||||||||||
Business Combination, Accounts payable | (151) | ||||||||||
Business Combination, Accrued payroll and employee benefits | (37) | ||||||||||
Business Combination, Current portion of operating lease liabilities | (1) | ||||||||||
Business Combination, Taxes on income | (5) | ||||||||||
Business Combination, Other accrued liabilities | (61) | ||||||||||
Business Combination, Long-term debt | (8) | ||||||||||
Business Combination, Pension and postretirement obligations | (49) | ||||||||||
Business Combination, Noncurrent operating lease liabilities | (2) | ||||||||||
Business Combination, Other noncurrent liabilities | (30) | ||||||||||
Business Combination, Noncontrolling interests | (8) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 615 | ||||||||||
SME [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 62 | ||||||||||
Total purchase consideration | 88 | ||||||||||
Business Combination, Accounts receivable - Trade | 4 | ||||||||||
Business Combination, Accounts receivable - Other | 1 | ||||||||||
Business Combination, Inventories | 8 | ||||||||||
Goodwill | 68 | ||||||||||
Business Combination, Intangibles | 24 | ||||||||||
Business Combination, Property, plant and equipment | 5 | ||||||||||
Business Combination, Notes payable including current portion of long-term debt | (8) | ||||||||||
Business Combination, Accounts payable | (6) | ||||||||||
Business Combination, Accrued payroll and employee benefits | (1) | ||||||||||
Business Combination, Other accrued liabilities | (1) | ||||||||||
Business Combination, Other noncurrent liabilities | (6) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 88 | ||||||||||
TM4 [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 125 | ||||||||||
Total purchase consideration | 125 | ||||||||||
Business Combination, Cash and cash equivalents | 3 | ||||||||||
Business Combination, Accounts receivable - Trade | 3 | ||||||||||
Business Combination, Accounts receivable - Other | 1 | ||||||||||
Business Combination, Inventories | 4 | ||||||||||
Goodwill | 148 | ||||||||||
Business Combination, Intangibles | 24 | ||||||||||
Business Combination, Investment In affiliates | 49 | ||||||||||
Business Combination, Property, plant and equipment | 5 | ||||||||||
Business Combination, Accounts payable | (2) | ||||||||||
Business Combination, Accrued payroll and employee benefits | (1) | ||||||||||
Business Combination, Other accrued liabilities | (7) | ||||||||||
Business Combination, Redeemable noncontrolling interest | (102) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 125 | ||||||||||
USM - Warren [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Purchase Price Adjustments | $ 1 | ||||||||||
Total purchase consideration | $ 78 | ||||||||||
Business Combination, Accounts receivable - Trade | 17 | ||||||||||
Business Combination, Accounts receivable - Other | 3 | ||||||||||
Business Combination, Inventories | 9 | ||||||||||
Goodwill | 3 | ||||||||||
Business Combination, Intangibles | 33 | ||||||||||
Business Combination, Property, plant and equipment | 50 | ||||||||||
Business Combination, Accounts payable | (34) | ||||||||||
Business Combination, Accrued payroll and employee benefits | (2) | ||||||||||
Business Combination, Other accrued liabilities | (1) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 78 | ||||||||||
BFP and BPT [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Purchase consideration paid at closing | $ 181 | ||||||||||
Business Combination, Purchase Price Adjustments | $ 9 | ||||||||||
Total purchase consideration | 201 | ||||||||||
Business Combination, Cash and cash equivalents | 75 | ||||||||||
Business Combination, Accounts receivable - Trade | 78 | ||||||||||
Business Combination, Accounts receivable - Other | 18 | ||||||||||
Business Combination, Inventories | 134 | ||||||||||
Business Combination, Other current assets | 9 | ||||||||||
Goodwill | 20 | ||||||||||
Business Combination, Intangibles | 41 | ||||||||||
Business Combination, Deferred tax assets | 3 | ||||||||||
Business Combination, Other noncurrent assets | 4 | ||||||||||
Business Combination, Property, plant and equipment | 174 | ||||||||||
Business Combination, Notes payable including current portion of long-term debt | (130) | ||||||||||
Business Combination, Accounts payable | (51) | ||||||||||
Business Combination, Accrued payroll and employee benefits | (14) | ||||||||||
Business Combination, Taxes on income | (1) | ||||||||||
Business Combination, Other accrued liabilities | (19) | ||||||||||
Business Combination, Long-term debt | (51) | ||||||||||
Business Combination, Pension and postretirement obligations | (11) | ||||||||||
Business Combination, Other noncurrent liabilities | (22) | ||||||||||
Business Combination, Redeemable noncontrolling interest | (44) | ||||||||||
Business Combination, Noncontrolling interests | (12) | ||||||||||
Business Combination, Total purchase consideration allocation | $ 201 |
Acquisitions - Pro Forma Inform
Acquisitions - Pro Forma Information (Details) - ODS [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | $ 8,765 | $ 9,013 |
Business Acquisition, Pro Forma Net Income | $ 273 | $ 425 |
Disposal Groups and Divestitu_2
Disposal Groups and Divestitures - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jul. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gain (loss) on disposal group held for sale | $ 3,000,000 | $ 3,000,000 | $ (27,000,000) | |||
Proceeds from sale of subsidiary | $ 2,000,000 | $ 1,000,000 | 3,000,000 | |||
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Brazil Suspension Components Business [Member] | ||||||
Consideration | $ 0 | 0 | ||||
Contribution obligation | 10,000,000 | $ 10,000,000 | ||||
Gain (loss) on disposal group held for sale | $ (27,000,000) |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Jun. 22, 2018 | Dec. 31, 2017 | |
Goodwill impairment | $ 6,000,000 | ||||
Impairment of indefinite-lived intangible asset | 6,000,000 | $ 20,000,000 | |||
Impairment of finite-lived intangible assets | 0 | 0 | |||
Net carrying amounts of intangible assets, other than goodwill | 240,000,000 | 164,000,000 | |||
Light Vehicle Segment [Member] | |||||
Net carrying amounts of intangible assets, other than goodwill | 25,000,000 | ||||
Commercial Vehicle Segment [Member] | |||||
Net carrying amounts of intangible assets, other than goodwill | 62,000,000 | ||||
Off-Highway Segment [Member] | |||||
Net carrying amounts of intangible assets, other than goodwill | 145,000,000 | ||||
Power Technologies Segment [Member] | |||||
Goodwill impairment | 6,000,000 | ||||
Net carrying amounts of intangible assets, other than goodwill | 8,000,000 | ||||
Trademarks and Trade Names [Member] | |||||
Impairment of indefinite-lived intangible asset | $ 0 | 0 | |||
Used In Research And Development [Member] | |||||
Impairment of indefinite-lived intangible asset | $ 20,000,000 | ||||
Intangible assets used in research and development activities | $ 20,000,000 | $ 20,000,000 | |||
TM4 [Member] | |||||
Percentage of ownership interests acquired | 55.00% |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Changes in the Carrying Amount of Goodwill by Segment (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill [Roll Forward] | ||
Beginning balance | $ 264,000,000 | $ 127,000,000 |
Acquisitions | 234,000,000 | 148,000,000 |
Impairment | (6,000,000) | |
Currency impact | 1,000,000 | (11,000,000) |
Ending balance | 493,000,000 | 264,000,000 |
Light Vehicle Segment [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 3,000,000 | 3,000,000 |
Acquisitions | ||
Ending balance | 3,000,000 | 3,000,000 |
Commercial Vehicle Segment [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 150,000,000 | 8,000,000 |
Acquisitions | 74,000,000 | 148,000,000 |
Currency impact | 4,000,000 | (6,000,000) |
Ending balance | 228,000,000 | 150,000,000 |
Off-Highway Segment [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 105,000,000 | 110,000,000 |
Acquisitions | 160,000,000 | |
Currency impact | (3,000,000) | (5,000,000) |
Ending balance | 262,000,000 | 105,000,000 |
Power Technologies Segment [Member] | ||
Goodwill [Roll Forward] | ||
Beginning balance | 6,000,000 | 6,000,000 |
Impairment | (6,000,000) | |
Ending balance | $ 0 | $ 6,000,000 |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets - Components of Other Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Accumulated Impairment and Amortization | $ (507) | $ (513) | |
Indefinite-lived Intangible Assets [Line Items] | |||
Intangible Assets, Gross (Excluding Goodwill) | 747 | 677 | |
Intangible Assets, Net (Excluding Goodwill) | 240 | 164 | |
Trademarks and Trade Names [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | $ 75 | 74 | |
Used In Research And Development [Member] | |||
Indefinite-lived Intangible Assets [Line Items] | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 0 | ||
Indefinite-Lived Intangible Assets (Excluding Goodwill), Gross | 20 | $ 20 | |
Indefinite-Lived Intangible Assets (Excluding Goodwill), Accumulated Impairment Loss | (20) | ||
Core Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible asset, useful life | 8 years | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 133 | 107 | |
Finite-Lived Intangible Assets, Accumulated Impairment and Amortization | (94) | (89) | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 39 | 18 | |
Trademarks and Trade Names [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible asset, useful life | 13 years | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 30 | 16 | |
Finite-Lived Intangible Assets, Accumulated Impairment and Amortization | (6) | (4) | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 24 | 12 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible asset, useful life | 8 years | ||
Finite-Lived Intangible Assets, Gross Carrying Amount | $ 509 | 460 | |
Finite-Lived Intangible Assets, Accumulated Impairment and Amortization | (407) | (400) | |
Finite-Lived Intangible Assets, Net Carrying Amount | $ 102 | $ 60 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets - Amortization Expense Related to Amortizable Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Charged to cost of sales | $ 5 | $ 2 | $ 2 |
Charged to amortization of intangibles | 12 | 8 | 11 |
Total amortization | $ 17 | $ 10 | $ 13 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets - Estimated Aggregate Pre-tax Amortization Expense Related to Intangible Assets (Details) $ in Millions | Dec. 31, 2019USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization expense 2020 | $ 18 |
Amortization expense 2021 | 17 |
Amortization expense 2022 | 17 |
Amortization expense 2023 | 17 |
Amortization expense 2024 | $ 17 |
Restructuring of Operations -
Restructuring of Operations - Additional Information (Details) $ in Millions | Dec. 31, 2019employee | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring expense | $ 29 | $ 25 | $ 14 | |
Restructuring reversal | (2) | (7) | (8) | |
Estimated reduction of employees | employee | 200 | |||
Employee Termination Benefits [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring expense | 8 | |||
Restructuring reversal | $ (2) | (7) | (8) | |
Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring expense | 6 | |||
Restructuring reversal | ||||
Off-Highway Segment [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring expense | 14 | |||
Restructuring reversal | $ 7 | $ 8 |
Restructuring of Operations _2
Restructuring of Operations - Accrued Restructuring Costs and Activity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Reserve [Roll Forward] | |||
Beginning balance | $ 29 | $ 26 | $ 38 |
Charges to restructuring | 31 | 32 | 22 |
Adjustments of accruals | (2) | (7) | (8) |
Cash payments | (40) | (21) | (28) |
Currency impact | 0 | (1) | 2 |
Lease cease-use reclassification | (4) | ||
Ending Balance | 14 | 29 | 26 |
Employee Termination Benefits [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning balance | 25 | 21 | 32 |
Charges to restructuring | 21 | 28 | 16 |
Adjustments of accruals | (2) | (7) | (8) |
Cash payments | (31) | (16) | (21) |
Currency impact | (1) | 2 | |
Ending Balance | 13 | 25 | 21 |
Exit Costs [Member] | |||
Restructuring Reserve [Roll Forward] | |||
Beginning balance | 4 | 5 | 6 |
Charges to restructuring | 10 | 4 | 6 |
Adjustments of accruals | |||
Cash payments | (9) | (5) | (7) |
Currency impact | |||
Lease cease-use reclassification | (4) | ||
Ending Balance | $ 1 | $ 4 | $ 5 |
Restructuring of Operations _3
Restructuring of Operations - Cost to Complete (Details) - Commercial Vehicle Segment [Member] - USD ($) $ in Millions | 12 Months Ended | 102 Months Ended | 114 Months Ended |
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs incurred | $ 4 | $ 35 | $ 39 |
Future cost to complete | $ 4 | $ 4 |
Inventories - Inventory Compon
Inventories - Inventory Components (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 470 | $ 433 |
Work in process and finished goods | 787 | 649 |
Inventory reserves | (64) | (51) |
Total | $ 1,193 | $ 1,031 |
Supplemental Balance Sheet an_3
Supplemental Balance Sheet and Cash Flow Information - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other current assets: | ||
Prepaid expenses | $ 109 | $ 76 |
Other | 28 | 26 |
Total | 137 | 102 |
Other noncurrent assets: | ||
Contract asset | 37 | 25 |
Prepaid expenses | 3 | 3 |
Deferred financing costs | 6 | 4 |
Pension assets, net of related obligations | 4 | 3 |
Other | 70 | 45 |
Total | 120 | 80 |
Property, plant and equipment, net: | ||
Land and improvements to land | 223 | 207 |
Buildings and building fixtures | 621 | 552 |
Machinery and equipment | 3,355 | 2,817 |
Finance lease right-of-use assets | 41 | |
Total cost | 4,240 | 3,576 |
Less: accumulated depreciation | (1,975) | (1,726) |
Net | 2,265 | 1,850 |
Other accrued liabilities (current): | ||
Non-income taxes payable | 65 | 53 |
Accrued interest | 11 | 13 |
Warranty reserves | 36 | 34 |
Deferred income | 6 | 6 |
Work place injury costs | 5 | 5 |
Restructuring costs | 14 | 26 |
Payable under forward contracts | 5 | 11 |
Environmental | 5 | 5 |
Other expense accruals | 115 | 116 |
Total | 262 | 269 |
Other noncurrent liabilities: | ||
Income tax liability | 47 | 48 |
Interest rate swap market valuation | 71 | 118 |
Deferred income tax liability | 40 | 28 |
Work place injury costs | 17 | 19 |
Warranty reserves | 65 | 41 |
Restructuring costs | 3 | |
Other noncurrent liabilities | 65 | 56 |
Total | $ 305 | $ 313 |
Supplemental Balance Sheet an_4
Supplemental Balance Sheet and Cash Flow Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Change in Working Capital [Abstract] | |||||||
Change in accounts receivable | $ 134 | $ (113) | $ (141) | ||||
Change in inventories | 35 | (110) | (146) | ||||
Change in accounts payable | (96) | 97 | 234 | ||||
Change in accrued payroll and employee benefits | (21) | (28) | 53 | ||||
Change in accrued income taxes | (19) | (3) | 26 | ||||
Change in other current assets and liabilities | (50) | 44 | (34) | ||||
Increase Decrease In Current Operating Capital Net | 17 | 113 | 8 | ||||
Supplemental Cash Flow Information [Abstract] | |||||||
Cash and cash equivalents | $ 508 | $ 510 | $ 603 | 508 | 510 | 603 | $ 707 |
Restricted cash included in other current assets | 6 | 7 | 3 | 6 | 7 | 3 | 5 |
Restricted cash included in other noncurrent assets | 4 | 3 | 4 | 4 | 3 | 4 | 4 |
Total cash, cash equivalents and restricted cash | 518 | 520 | 610 | 518 | 520 | 610 | $ 716 |
Interest paid | 117 | 90 | 104 | ||||
Income taxes paid | 125 | 145 | 87 | ||||
Purchases of property, plant and equipment held in accounts payable | $ 71 | $ 91 | $ 86 | ||||
Noncash financing activity related to stock compensation plans | 17 | 18 | 17 | ||||
Noncash financing activity related to dividends in stock compensation plans | $ 1 | $ 1 |
Leases - Additional Information
Leases - Additional Information (Details) | Dec. 31, 2019 |
Minimum [Member] | |
Operating Leases, Remaining lease term | 1 year |
Finance Leases, Remaining lease term | 1 year |
Maximum [Member] | |
Operating Leases, Remaining lease term | 11 years |
Finance Leases, Remaining lease term | 11 years |
Operating Leases, Options to extend the terms | 10 years |
Finance Leases, Options to extend the terms | 10 years |
Leases - Summary of Location an
Leases - Summary of Location and Amounts Related to Finance Leases (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Finance lease right-of-use assets, Property, plant and equipment, net | $ 41 | |
Finance lease liabilities, Current portion of long-term debt | 5 | |
Finance lease liabilities, Long-term debt | $ 24 |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 50 |
Finance lease cost: | |
Amortization of right-of-use assets | 3 |
Interest on lease liabilities | 1 |
Total finance lease cost | $ 4 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow information Related to Leases (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Cash paid for amounts included in the measurement of lease liabilities | |
Operating cash flows from operating leases | $ 50 |
Operating cash flows from finance leases | 1 |
Financing cash flows from finance leases | 3 |
Right-of-use assets obtained in exchange for lease obligations | |
Operating leases | 24 |
Finance leases | $ 13 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet Information Related to Leases (Details) | Dec. 31, 2019 |
Weighted-average remaining lease term (years): | |
Operating leases | 6 years |
Finance leases | 9 years |
Weighted-average discount rate: | |
Operating leases | 6.00% |
Finance leases | 4.00% |
Leases - Maturities (Details)
Leases - Maturities (Details) $ in Millions | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
Operating Leases, 2020 | $ 50 |
Operating Leases, 2021 | 42 |
Operating Leases, 2022 | 32 |
Operating Leases, 2023 | 24 |
Operating Leases, 2024 | 19 |
Operating Leases, Thereafter | 46 |
Operating Lease, Total lease payments | 213 |
Operating Leases, Less: interest | 31 |
Operating Leases, Present value of lease liabilities | 182 |
Finance Leases, 2020 | 5 |
Finance Leases, 2021 | 5 |
Finance Leases, 2022 | 5 |
Finance Leases, 2023 | 4 |
Finance Leases, 2024 | 2 |
Finance Leases, Thereafter | 13 |
Finance Leases, Total lease payments | 34 |
Finance Leases, Less: interest | 5 |
Finance Leases, Present value of lease liabilities | $ 29 |
Leases - Lease Commitments (Det
Leases - Lease Commitments (Details) $ in Millions | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
Operating lease commitments due in 2019 | $ 57 |
Operating lease commitments due in 2020 | 41 |
Operating lease commitments due in 2021 | 35 |
Operating lease commitments due in 2022 | 27 |
Operating lease commitments due in 2023 | 21 |
Operating lease commitments due Thereafter | 64 |
Operating lease commitments Total | $ 245 |
Stockholders' Equity - Additio
Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 50,000,000 | 50,000,000 | 50,000,000 | ||||
Preferred stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Preferred shares outstanding | 0 | 0 | 0 | ||||
Common stock, shares authorized | 450,000,000 | 450,000,000 | 450,000,000 | ||||
Common stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Common stock, shares issued | 154,053,730 | 154,053,730 | |||||
Common stock, shares outstanding | 143,942,539 | 143,942,539 | 144,663,403 | ||||
Treasury stock, shares | 10,111,191 | 10,111,191 | 8,342,185 | ||||
Quarterly dividend declared | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.10 | $ 0.40 | $ 0.40 | $ 0.24 |
Aggregate dividends declared | $ 58 | $ 58 | $ 35 | ||||
Aggregate dividends paid | 58 | 58 | 35 | ||||
Payments to repurchase common stock | $ 25 | 25 | 25 | ||||
Shares of common stock repurchased | 1,432,275 | ||||||
Approved 2017 Program [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 150 | 150 | |||||
Retained Earnings [Member] | |||||||
Class of Stock [Line Items] | |||||||
Aggregate dividends declared | $ 59 | $ 59 | $ 35 |
Stockholders' Equity - Changes
Stockholders' Equity - Changes in Each Component of Accumulated Other Comprehensive Income of the Parent (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | $ (1,362) | |||
Other comprehensive income (loss): | ||||
Ending Balance | (987) | $ (1,362) | ||
Accounting Standards Update 2016-01 [Member] | ||||
Other comprehensive income (loss): | ||||
Adoption of new accounting standard, January 1 | $ 0 | |||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (721) | (670) | (646) | |
Other comprehensive income (loss): | ||||
Currency translation adjustments | 8 | (48) | (22) | |
Holding loss on net investment hedge | (3) | (2) | ||
Tax (expense) benefit | (1) | |||
Other comprehensive income (loss) attributable to the parent company | 7 | (51) | (24) | |
Ending Balance | (714) | (721) | (670) | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (54) | (64) | (34) | |
Other comprehensive income (loss): | ||||
Holding gains and losses | 58 | 66 | (162) | |
Reclassification of amount to net income | [1] | (33) | (56) | 128 |
Tax (expense) benefit | (1) | 4 | ||
Other comprehensive income (loss) attributable to the parent company | 24 | 10 | (30) | |
Ending Balance | (30) | (54) | (64) | |
Accumulated Net Gain (Loss) from Investments Attributable to Parent [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | 0 | 2 | 0 | |
Other comprehensive income (loss): | ||||
Holding gains and losses | 1 | |||
Reclassification of amount to net income | [1] | |||
Tax (expense) benefit | 1 | |||
Other comprehensive income (loss) attributable to the parent company | 0 | 0 | 2 | |
Ending Balance | 0 | 0 | 2 | |
Accumulated Net Gain (Loss) from Investments Attributable to Parent [Member] | Accounting Standards Update 2016-01 [Member] | ||||
Other comprehensive income (loss): | ||||
Adoption of new accounting standard, January 1 | (2) | |||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (587) | (610) | (604) | |
Other comprehensive income (loss): | ||||
Net actuarial gains (losses) | 71 | (8) | (28) | |
Reclassification adjustment for net actuarial losses included in net periodic benefit cost | [2] | 286 | 34 | 31 |
Other | 2 | |||
Tax (expense) benefit | (13) | (5) | (9) | |
Other comprehensive income (loss) attributable to the parent company | 344 | 23 | (6) | |
Ending Balance | (243) | (587) | (610) | |
AOCI Attributable to Parent [Member] | ||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||
Beginning Balance | (1,362) | (1,342) | (1,284) | |
Other comprehensive income (loss): | ||||
Currency translation adjustments | 8 | (48) | (22) | |
Holding loss on net investment hedge | (3) | (2) | ||
Holding gains and losses | 58 | 66 | (161) | |
Reclassification of amount to net income | [1] | (33) | (56) | 128 |
Net actuarial gains (losses) | 71 | (8) | (28) | |
Reclassification adjustment for net actuarial losses included in net periodic benefit cost | [2] | 286 | 34 | 31 |
Other | 2 | |||
Tax (expense) benefit | (15) | (5) | (4) | |
Other comprehensive income (loss) attributable to the parent company | 375 | (18) | (58) | |
Ending Balance | $ (987) | $ (1,362) | (1,342) | |
AOCI Attributable to Parent [Member] | Accounting Standards Update 2016-01 [Member] | ||||
Other comprehensive income (loss): | ||||
Adoption of new accounting standard, January 1 | $ (2) | |||
[1] | reclassifications from AOCI were included in other expense, net. | |||
[2] | See Note 13 for additional details. |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Millions | Jul. 29, 2019 | Aug. 08, 2018 | Jun. 22, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jul. 28, 2019 | Feb. 01, 2017 |
Business Acquisition [Line Items] | ||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | $ 102 | |||||||
Recognition of additional redeemble noncontrolling interest | 64 | |||||||
Payments to acquire redeemable noncontrolling interests | $ 43 | |||||||
Adjustment to redemption value | $ 6 | |||||||
TM4 [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | $ 102 | |||||||
TM4 [Member] | Hydro-Quebec [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage by noncontrolling owners | 45.00% | |||||||
SME [Member] | Hydro-Quebec [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage by noncontrolling owners | 45.00% | |||||||
Prestolite E-Propulsion Systems Limited (PEPS) [Member] | Hydro-Quebec [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage by noncontrolling owners | 45.00% | 22.50% | ||||||
Ownership percentage increase by noncontrolling owners | 22.50% | |||||||
SME And Prestolite E-Propulsion Systems Limited (PEPS) [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Recognition of additional redeemble noncontrolling interest | $ 64 | |||||||
BFP and BPT [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to acquire redeemable noncontrolling interests | $ 43 | |||||||
Received in settlement of all pending and future claims | $ 10 | |||||||
BFP and BPT [Member] | Brevini Group S.p.A. [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Ownership percentage by noncontrolling owners | 20.00% |
Redeemable Noncontrolling Int_4
Redeemable Noncontrolling Interests - Reconciliation of Changes in Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Increase (Decrease) in Temporary Equity [Roll Forward] | ||
Balance, beginning of period | $ 100 | $ 47 |
Initial fair value of redeemable noncontrolling interests of acquired businesses | 102 | |
Capital contribution from redeemable noncontrolling interest | 4 | 3 |
Purchase of redeemable noncontrolling interest | (46) | |
Sale of redeemable noncontrolling interest | 64 | |
Net income (loss) attributable to redeemable noncontrolling interests | (6) | |
Other comprehensive income (loss) attributable to redeemable noncontrolling interests | 5 | (6) |
Balance, end of period | $ 167 | $ 100 |
Earnings per Share - Reconcili
Earnings per Share - Reconciliation of Numerators and Denominators of the Earnings per Share Calculations (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||||||||||
Net income attributable to the parent company | $ 85 | $ 111 | $ (68) | $ 98 | $ 100 | $ 95 | $ 124 | $ 108 | $ 226 | $ 427 | $ 111 |
Less: Redeemable noncontrolling interests adjustment to redemption value | (6) | ||||||||||
Net income available to common stockholders - Numerator diluted | 226 | 427 | 105 | ||||||||
Net income available to common stockholders - Numerator basic | $ 226 | $ 427 | $ 105 | ||||||||
Weighted-average common shares outstanding - Basic | 144 | 145 | 145.1 | ||||||||
Employee compensation-related shares, including stock options | 1.1 | 1.5 | 1.8 | ||||||||
Weighted-average common shares outstanding - Diluted | 145.1 | 146.5 | 146.9 |
Earnings per Share - Additiona
Earnings per Share - Additional Information (Details) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Common Stock Equivalents [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the calculations of earnings per share as the effect of including them would have been anti-dilutive | 0.1 | 0.2 | 0.1 |
Stock Compensation - Additiona
Stock Compensation - Additional Information (Details) - USD ($) shares in Millions, $ in Millions | Dec. 31, 2019 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Accrual for cash-settled awards | $ 3 | $ 3 | $ 2 | ||
Total unrecognized compensation cost related to nonvested awards granted and expected to vest | $ 22 | 22 | |||
Weighted-average period in which the total unrecognized compensation cost is expected to be recognized | 1 year 9 months 18 days | ||||
Cash award vesting period | 3 years | ||||
Expenses for cash incentive awards | $ 27 | $ 33 | $ 77 | ||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares issued | 0.7 | ||||
Stock vesting period (in years) | 3 years | ||||
Performance Share Units [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares issued | 0.2 | ||||
Stock vesting period (in years) | 3 years | ||||
Stock Option And Stock Appreciation Rights [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock vesting period (in years) | 3 years | ||||
Option maximum term (in years) | 10 years | ||||
Outstanding options and SARs, aggregate intrinsic value | $ 1 | $ 1 | |||
Outstanding options and SARs, weighted-average remaining contractual term | 2 years 2 months 12 days | ||||
Omnibus Incentive Plan 2017 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares of common stock available for future grant | 4.4 | 4.4 |
Stock Compensation - Award Act
Stock Compensation - Award Activity (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Stock Options [Member] | |
Shares | |
Outstanding at beginning of period | shares | 0.7 |
Granted | shares | |
Exercised or vested | shares | (0.1) |
Forfeited or expired | shares | |
Outstanding at end of period | shares | 0.6 |
Weighted- Average Exercise Price | |
Outstanding at beginning of period | $ / shares | $ 15.33 |
Granted | $ / shares | |
Exercised or vested | $ / shares | 4.80 |
Forfeited or expired | $ / shares | |
Outstanding at end of period | $ / shares | $ 16.13 |
Stock Appreciation Rights (SARs) [Member] | |
Shares | |
Outstanding or Nonvested at beginning of period | shares | 0.1 |
Granted | shares | |
Exercised or vested | shares | |
Forfeited or expired | shares | |
Outstanding or Nonvested at end of period | shares | 0.1 |
Weighted- Average Exercise Price | |
Outstanding at beginning of period | $ / shares | |
Granted | $ / shares | |
Exercised or vested | $ / shares | |
Forfeited or expired | $ / shares | |
Outstanding at end of period | $ / shares | $ 16.27 |
Restricted Stock Units (RSUs) [Member] | |
Shares | |
Outstanding or Nonvested at beginning of period | shares | 1.8 |
Granted | shares | 1 |
Exercised or vested | shares | (0.7) |
Forfeited or expired | shares | (0.1) |
Outstanding or Nonvested at end of period | shares | 2 |
Weighted-Average Grant-Date Fair Value | |
Nonvested at beginning of period | $ / shares | $ 20.06 |
Granted | $ / shares | 17.08 |
Exercised or vested | $ / shares | 14.66 |
Forfeited or expired | $ / shares | 20.49 |
Nonvested at end of period | $ / shares | $ 20.56 |
Performance Share Units [Member] | |
Shares | |
Outstanding or Nonvested at beginning of period | shares | 0.5 |
Granted | shares | 0.4 |
Exercised or vested | shares | (0.2) |
Forfeited or expired | shares | |
Outstanding or Nonvested at end of period | shares | 0.7 |
Weighted-Average Grant-Date Fair Value | |
Nonvested at beginning of period | $ / shares | $ 22.45 |
Granted | $ / shares | 16.17 |
Exercised or vested | $ / shares | 18.63 |
Forfeited or expired | $ / shares | |
Nonvested at end of period | $ / shares | $ 19.99 |
Stock Compensation - Total Sto
Stock Compensation - Total Stock Compensation Expense and Other Annual Disclosures (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock compensation expense | $ 19 | $ 16 | $ 23 |
Total grant-date fair value of awards vested | 16 | 16 | 17 |
Cash received from exercise of stock options | 2 | 10 | |
Cash paid to settle SARs and RSUs | 2 | 2 | 4 |
Stock Option And Stock Appreciation Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Intrinsic value of stock options and SARs exercised | 1 | 3 | 8 |
Restricted Stock Units (RSUs) and Performance Share Units (PSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Intrinsic value of RSUs and PSUs vested | $ 17 | $ 18 | $ 20 |
Pension and Postretirement Be_3
Pension and Postretirement Benefit Plans - Components of Net Periodic Benefit Cost (Credit) and Other Amounts Recognized in OCI (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Settlement charge | $ 258 | $ 259 | ||
Pension Plan [Member] | UNITED STATES | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 40 | 43 | 51 | |
Expected return on plan assets | (51) | (71) | (82) | |
Service cost | ||||
Amortization of net actuarial (gain) loss | 22 | 28 | 23 | |
Settlement charge | 256 | |||
Other | ||||
Net periodic benefit cost (credit) | 267 | 0 | (8) | |
Recognized in OCI: | ||||
Amount due to net actuarial (gains) losses | (107) | 11 | 22 | |
Reclassification adjustment for net actuarial gains (losses) in net periodic benefit cost | (278) | (28) | (23) | |
Other | ||||
Total recognized in OCI | (385) | (17) | (1) | |
Net recognized in benefit cost (credit) and OCI | (118) | (17) | (9) | |
Pension Plan [Member] | Foreign Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 8 | 7 | 7 | |
Expected return on plan assets | (3) | (3) | (3) | |
Service cost | 8 | 7 | 7 | |
Amortization of net actuarial (gain) loss | 6 | 6 | 7 | |
Settlement charge | 3 | |||
Termination benefit | 1 | |||
Curtailment | (1) | |||
Other | 2 | |||
Net periodic benefit cost (credit) | 21 | 19 | 19 | |
Recognized in OCI: | ||||
Amount due to net actuarial (gains) losses | 33 | 4 | 4 | |
Reclassification adjustment for net actuarial gains (losses) in net periodic benefit cost | (9) | (6) | (7) | |
Curtailment | (1) | |||
Other | (2) | |||
Total recognized in OCI | 24 | (4) | (4) | |
Net recognized in benefit cost (credit) and OCI | 45 | 15 | 15 | |
Other Postretirement Benefits Plan [Member] | UNITED STATES | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 0 | |||
Net periodic benefit cost (credit) | 0 | |||
Recognized in OCI: | ||||
Amount due to net actuarial (gains) losses | 1 | |||
Total recognized in OCI | 1 | |||
Net recognized in benefit cost (credit) and OCI | 1 | |||
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 3 | 3 | 3 | |
Service cost | 1 | 1 | ||
Amortization of net actuarial (gain) loss | (1) | |||
Net periodic benefit cost (credit) | 2 | 4 | 4 | |
Recognized in OCI: | ||||
Amount due to net actuarial (gains) losses | 2 | (7) | 2 | |
Reclassification adjustment for net actuarial gains (losses) in net periodic benefit cost | 1 | |||
Total recognized in OCI | 3 | (7) | 2 | |
Net recognized in benefit cost (credit) and OCI | $ 5 | $ (3) | $ 6 |
Pension and Postretirement Be_4
Pension and Postretirement Benefit Plans - Additional Information (Details) | Dec. 31, 2019USD ($)plan | Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2019USD ($)plan | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Settlement charge | $ 258,000,000 | $ 259,000,000 | ||||
Defined benefit plan investment policy description | Investment policy — Target asset allocations of U.S. pension plans are established through an investment policy, which is updated periodically and reviewed by an Investment Committee, comprised of certain company officers. The investment policy allows for a flexible asset allocation mix which is intended to provide appropriate diversification to lessen market volatility while assuming a reasonable level of economic risk. | |||||
Period of forecast | 10 years | |||||
Minimum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Multiemployer Plans Green Zone Percentage | 80.00% | 80.00% | ||||
Multiemployer Plans Yellow Zone Percentage | 65.00% | 65.00% | ||||
Percentage of contribution range | 5.00% | |||||
Maximum [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Multiemployer Plans Red Zone Percentage | 65.00% | 65.00% | ||||
Pension Plan [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Estimated net actuarial (gain) loss for defined benefit plans to be amortized next year | $ 11,000,000 | $ 11,000,000 | ||||
Number of plans being terminated | plan | 1 | 1 | ||||
Contribution to the plan | $ 59,000,000 | |||||
Settlement charge | 256,000,000 | |||||
Actuarial gain (loss) | $ 107,000,000 | $ (11,000,000) | $ (22,000,000) | |||
Long Term Improvement Rate | 0.75% | |||||
Assumption used in calculating pension benefit obligation, Discount rate | 3.21% | 3.21% | 4.22% | 3.55% | ||
Expected rate of return next year | 5.00% | |||||
Projected contributions to be made to the defined benefit pension plans | $ 1,000,000 | $ 1,000,000 | ||||
Pension Plan [Member] | UNITED STATES | Growth Portfolio [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Asset target allocation | 20.00% | 20.00% | ||||
Actual asset allocation | 20.00% | 20.00% | ||||
Pension Plan [Member] | UNITED STATES | Immunizing Portfolio [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Asset target allocation | 78.00% | 78.00% | ||||
Actual asset allocation | 77.00% | 77.00% | ||||
Pension Plan [Member] | UNITED STATES | Liquidity Portfolio [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Asset target allocation | 2.00% | 2.00% | ||||
Actual asset allocation | 3.00% | 3.00% | ||||
Pension Plan [Member] | UNITED STATES | Terminated Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Contribution to the plan | 59,000,000 | |||||
Reduction in our unfunded pension obligation | $ 165,000,000 | |||||
Settlement charge | $ 256,000,000 | |||||
Assumption used in calculating pension benefit obligation, Discount rate | 3.46% | 3.46% | ||||
Pension Plan [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Estimated net actuarial (gain) loss for defined benefit plans to be amortized next year | $ 9,000,000 | $ 9,000,000 | ||||
Contribution to the plan | 17,000,000 | $ 16,000,000 | ||||
Settlement charge | 3,000,000 | |||||
Actuarial gain (loss) | $ (33,000,000) | $ (4,000,000) | $ (4,000,000) | |||
Assumption used in calculating pension benefit obligation, Discount rate | 1.72% | 1.72% | 2.42% | 2.25% | ||
Projected contributions to be made to the defined benefit pension plans | $ 16,000,000 | $ 16,000,000 | ||||
Other Postretirement Benefits Plan [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Contribution to the plan | 1,000,000 | |||||
Actuarial gain (loss) | $ (1,000,000) | |||||
Assumption used in calculating pension benefit obligation, Discount rate | 3.37% | 3.37% | ||||
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Estimated net actuarial (gain) loss for defined benefit plans to be amortized next year | $ 0 | $ 0 | ||||
Contribution to the plan | 4,000,000 | $ 5,000,000 | ||||
Actuarial gain (loss) | $ (2,000,000) | $ 7,000,000 | $ (2,000,000) | |||
Assumption used in calculating pension benefit obligation, Discount rate | 3.10% | 3.10% | 3.71% | 3.41% |
Pension and Postretirement Be_5
Pension and Postretirement Benefit Plans - Reconciliations of Changes in Benefit Obligations, Plan Assets and Funded Status (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Plan [Member] | |||
Reconciliation of fair value of plan assets [Roll Forward]: | |||
Fair value at beginning of period | $ 1,372,000,000 | ||
Fair value at end of period | 802,000,000 | $ 1,372,000,000 | |
Pension Plan [Member] | UNITED STATES | |||
Reconciliation of benefit obligation [Roll Forward]: | |||
Obligation at beginning of period | 1,501,000,000 | 1,730,000,000 | |
Interest cost | 40,000,000 | 43,000,000 | $ 51,000,000 |
Service cost | |||
Actuarial (gain) loss | 13,000,000 | (148,000,000) | |
Benefit payments | (90,000,000) | (124,000,000) | |
Acquisitions | 161,000,000 | ||
Settlements | (853,000,000) | ||
Translation adjustments | |||
Obligation at end of period | 772,000,000 | 1,501,000,000 | 1,730,000,000 |
Reconciliation of fair value of plan assets [Roll Forward]: | |||
Fair value at beginning of period | 1,301,000,000 | 1,513,000,000 | |
Actual return on plan assets | 171,000,000 | (88,000,000) | |
Employer contributions | 59,000,000 | ||
Benefit payments | (90,000,000) | (124,000,000) | |
Settlements | (853,000,000) | ||
Acquisitions | 136,000,000 | ||
Translation adjustments | |||
Fair value at end of period | 724,000,000 | 1,301,000,000 | 1,513,000,000 |
Funded status at end of period | (48,000,000) | (200,000,000) | |
Pension Plan [Member] | Foreign Plan [Member] | |||
Reconciliation of benefit obligation [Roll Forward]: | |||
Obligation at beginning of period | 364,000,000 | 377,000,000 | |
Interest cost | 8,000,000 | 7,000,000 | 7,000,000 |
Service cost | 8,000,000 | 7,000,000 | 7,000,000 |
Actuarial (gain) loss | 41,000,000 | 7,000,000 | |
Benefit payments | (14,000,000) | (14,000,000) | |
Acquisitions | 25,000,000 | ||
Settlements | (13,000,000) | (2,000,000) | |
Curtailment | (1,000,000) | ||
Translation adjustments | (6,000,000) | (18,000,000) | |
Obligation at end of period | 412,000,000 | 364,000,000 | 377,000,000 |
Reconciliation of fair value of plan assets [Roll Forward]: | |||
Fair value at beginning of period | 71,000,000 | 71,000,000 | |
Actual return on plan assets | 11,000,000 | 6,000,000 | |
Employer contributions | 17,000,000 | 16,000,000 | |
Benefit payments | (14,000,000) | (14,000,000) | |
Settlements | (13,000,000) | (2,000,000) | |
Acquisitions | 7,000,000 | ||
Translation adjustments | (1,000,000) | (6,000,000) | |
Fair value at end of period | 78,000,000 | 71,000,000 | 71,000,000 |
Funded status at end of period | (334,000,000) | (293,000,000) | |
Other Postretirement Benefits Plan [Member] | UNITED STATES | |||
Reconciliation of benefit obligation [Roll Forward]: | |||
Obligation at beginning of period | 0 | ||
Interest cost | 0 | ||
Actuarial (gain) loss | 1,000,000 | ||
Benefit payments | (1,000,000) | ||
Acquisitions | 3,000,000 | ||
Obligation at end of period | 3,000,000 | 0 | |
Reconciliation of fair value of plan assets [Roll Forward]: | |||
Fair value at beginning of period | 0 | ||
Employer contributions | 1,000,000 | ||
Benefit payments | (1,000,000) | ||
Fair value at end of period | 0 | 0 | |
Funded status at end of period | (3,000,000) | ||
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | |||
Reconciliation of benefit obligation [Roll Forward]: | |||
Obligation at beginning of period | 83,000,000 | 99,000,000 | |
Interest cost | 3,000,000 | 3,000,000 | 3,000,000 |
Service cost | 1,000,000 | 1,000,000 | |
Actuarial (gain) loss | 2,000,000 | (7,000,000) | |
Benefit payments | (4,000,000) | (5,000,000) | |
Settlements | |||
Translation adjustments | 4,000,000 | (8,000,000) | |
Obligation at end of period | 88,000,000 | 83,000,000 | 99,000,000 |
Reconciliation of fair value of plan assets [Roll Forward]: | |||
Fair value at beginning of period | 0 | 0 | |
Actual return on plan assets | |||
Employer contributions | 4,000,000 | 5,000,000 | |
Benefit payments | (4,000,000) | (5,000,000) | |
Settlements | |||
Translation adjustments | |||
Fair value at end of period | 0 | 0 | $ 0 |
Funded status at end of period | $ (88,000,000) | $ (83,000,000) |
Pension and Postretirement Be_6
Pension and Postretirement Benefit Plans - Amounts Recognized in the Balance Sheet and Amounts Recognized in AOCI (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Amounts recognized in the balance sheet: | ||
Noncurrent assets | $ 4 | $ 3 |
Noncurrent liabilities | (459) | (561) |
Pension Plan [Member] | UNITED STATES | ||
Amounts recognized in the balance sheet: | ||
Current liabilities | ||
Noncurrent liabilities | (48) | (200) |
Net amount recognized | (48) | (200) |
Amounts recognized in AOCI: | ||
Net actuarial loss (gain) | 157 | 542 |
AOCI before tax | 157 | 542 |
Deferred taxes | 13 | (6) |
Net | 170 | 536 |
Pension Plan [Member] | Foreign Plan [Member] | ||
Amounts recognized in the balance sheet: | ||
Noncurrent assets | 4 | 3 |
Current liabilities | (13) | (13) |
Noncurrent liabilities | (325) | (283) |
Net amount recognized | (334) | (293) |
Amounts recognized in AOCI: | ||
Net actuarial loss (gain) | 108 | 84 |
AOCI before tax | 108 | 84 |
Deferred taxes | (28) | (22) |
Net | 80 | 62 |
Other Postretirement Benefits Plan [Member] | UNITED STATES | ||
Amounts recognized in the balance sheet: | ||
Noncurrent liabilities | (3) | |
Net amount recognized | (3) | |
Amounts recognized in AOCI: | ||
Net actuarial loss (gain) | 1 | |
AOCI before tax | 1 | |
Net | 1 | |
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | ||
Amounts recognized in the balance sheet: | ||
Current liabilities | (5) | (5) |
Noncurrent liabilities | (83) | (78) |
Net amount recognized | (88) | (83) |
Amounts recognized in AOCI: | ||
Net actuarial loss (gain) | (12) | (15) |
AOCI before tax | (12) | (15) |
Deferred taxes | 4 | 4 |
Net | $ (8) | $ (11) |
Pension and Postretirement Be_7
Pension and Postretirement Benefit Plans - Aggregate Funding Levels of Defined Benefit Pension Plans (Details) - Pension Plan [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
UNITED STATES | ||
Plans with fair value of plan assets in excess of obligations: | ||
Accumulated benefit obligation | $ 15 | $ 14 |
Projected benefit obligation | 15 | 14 |
Fair value of plan assets | 16 | 15 |
Plans with obligations in excess of fair value of plan assets: | ||
Accumulated benefit obligation | 757 | 1,487 |
Projected benefit obligation | 757 | 1,487 |
Fair value of plan assets | 708 | 1,286 |
Foreign Plan [Member] | ||
Plans with fair value of plan assets in excess of obligations: | ||
Accumulated benefit obligation | 17 | 15 |
Projected benefit obligation | 17 | 16 |
Fair value of plan assets | 21 | 19 |
Plans with obligations in excess of fair value of plan assets: | ||
Accumulated benefit obligation | 363 | 322 |
Projected benefit obligation | 395 | 348 |
Fair value of plan assets | $ 57 | $ 52 |
Pension and Postretirement Be_8
Pension and Postretirement Benefit Plans - Fair Value of Pension Plan Assets (Details) - Pension Plan [Member] - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 802,000,000 | $ 1,372,000,000 | ||||
UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 724,000,000 | 1,301,000,000 | $ 1,513,000,000 | |||
Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 78,000,000 | 71,000,000 | 71,000,000 | |||
Fair Value, Inputs, Level 1 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 39,000,000 | 39,000,000 | ||||
Fair Value, Inputs, Level 1 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 288,000,000 | 883,000,000 | ||||
Fair Value, Inputs, Level 2 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 32,000,000 | 36,000,000 | ||||
Fair Value, Inputs, Level 3 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,000,000 | |||||
Fair Value, Inputs, Level 3 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 46,000,000 | 35,000,000 | ||||
Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 393,000,000 | 379,000,000 | |||
Defined Benefit Plan, Equity Securities, US [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [2] | 39,000,000 | 35,000,000 | |||
Defined Benefit Plan, Equity Securities, US [Member] | Fair Value, Inputs, Level 1 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [2] | 39,000,000 | 35,000,000 | |||
Defined Benefit Plan, Equity Securities, US, Large Cap [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 28,000,000 | 43,000,000 | ||||
Defined Benefit Plan, Equity Securities, US, Large Cap [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 28,000,000 | 43,000,000 | |||
Defined Benefit Plan, Equity Securities, US, Small Cap [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,000,000 | |||||
Defined Benefit Plan, Equity Securities, US, Small Cap [Member] | Fair Value, Inputs, Level 1 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,000,000 | |||||
Defined Benefit Plan, Equity Securities, Non-US [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 19,000,000 | 41,000,000 | ||||
Defined Benefit Plan, Equity Securities, Non-US [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 19,000,000 | 41,000,000 | |||
Defined Benefit Plan, Equity Securities, Emerging Markets [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 9,000,000 | 28,000,000 | ||||
Defined Benefit Plan, Equity Securities, Emerging Markets [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 9,000,000 | 28,000,000 | |||
Defined Benefit Plan, Debt Security [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [3] | 33,000,000 | ||||
Defined Benefit Plan, Debt Security [Member] | Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [3] | 33,000,000 | ||||
Defined Benefit Plan, Debt Security [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1],[3] | |||||
Corporate Debt Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 492,000,000 | 814,000,000 | ||||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 186,000,000 | 616,000,000 | ||||
Corporate Debt Securities [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 306,000,000 | 198,000,000 | |||
US Treasury Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 37,000,000 | 115,000,000 | ||||
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 37,000,000 | 115,000,000 | ||||
Debt Security, Government, Non-US [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 21,000,000 | 25,000,000 | ||||
Debt Security, Government, Non-US [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 21,000,000 | 25,000,000 | ||||
Defined Benefit Plan, Fixed Income Securities, Emerging Markets [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 11,000,000 | 48,000,000 | ||||
Defined Benefit Plan, Fixed Income Securities, Emerging Markets [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 11,000,000 | 48,000,000 | |||
Insurance Contracts [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [4] | 50,000,000 | 35,000,000 | |||
Insurance Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 4,000,000 | [4] | 0 | |||
Insurance Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 46,000,000 | [4] | 35,000,000 | [4] | $ 33,000,000 | |
Real Estate [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 20,000,000 | 21,000,000 | ||||
Real Estate [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | [1] | 20,000,000 | 21,000,000 | |||
Other Securities [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 11,000,000 | 10,000,000 | ||||
Other Securities [Member] | Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | ||||||
Other Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 11,000,000 | 10,000,000 | ||||
Other Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | ||||||
Cash and Cash Equivalents [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 65,000,000 | 120,000,000 | ||||
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | UNITED STATES | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | 65,000,000 | 119,000,000 | ||||
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Plan [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of plan assets | $ 1,000,000 | |||||
[1] | Certain assets are measured at fair value using the net asset value (NAV) per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. | |||||
[2] | This category comprises a combination of small-, mid- and large-cap equity stocks that are allocated at the investment manager's discretion. Investments include common and preferred securities as well as equity funds that invest in these instruments. | |||||
[3] | This category represents a combination of high-yield and investment grade corporate bonds, sovereign bonds, Yankee bonds, asset-backed securities and U.S. government bonds. Investments include fixed income funds that invest in these instruments. | |||||
[4] | This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities. |
Pension and Postretirement Be_9
Pension and Postretirement Benefit Plans - Reconciliation of Level 3 Pension Plan Assets (Details) - Pension Plan [Member] - USD ($) | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | $ 1,372,000,000 | |||
Fair value at end of period | 802,000,000 | $ 1,372,000,000 | ||
Insurance Contracts [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | [1] | 35,000,000 | ||
Fair value at end of period | [1] | 50,000,000 | 35,000,000 | |
Foreign Plan [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | 71,000,000 | 71,000,000 | ||
Fair value at end of period | 78,000,000 | 71,000,000 | ||
Foreign Plan [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | 35,000,000 | |||
Fair value at end of period | 46,000,000 | 35,000,000 | ||
Foreign Plan [Member] | Insurance Contracts [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Actual gains relating to assets still held at the reporting date | 7,000,000 | 4,000,000 | ||
Purchases, sales and settlements | 5,000,000 | (1,000,000) | ||
Currency impact | (1,000,000) | (1,000,000) | ||
Foreign Plan [Member] | Insurance Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | 35,000,000 | [1] | 33,000,000 | |
Fair value at end of period | [1] | 46,000,000 | 35,000,000 | |
UNITED STATES | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | 1,301,000,000 | 1,513,000,000 | ||
Fair value at end of period | 724,000,000 | 1,301,000,000 | ||
UNITED STATES | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at end of period | 4,000,000 | |||
UNITED STATES | Insurance Contracts [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Purchases, sales and settlements | 4,000,000 | |||
UNITED STATES | Insurance Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | ||||
Fair value at beginning of period | 0 | |||
Fair value at end of period | $ 4,000,000 | [1] | $ 0 | |
[1] | This category comprises contracts placed with insurance companies where the underlying assets are invested in fixed interest securities. |
Pension and Postretirement B_10
Pension and Postretirement Benefit Plans - Significant Weighted Average Assumptions Used in Measurement of Pension Obligations (Details) - Pension Plan [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
UNITED STATES | |||
Pension benefit obligations: | |||
Discount rate | 3.21% | 4.22% | 3.55% |
Net periodic benefit cost: | |||
Discount rate | 3.41% | 2.56% | 3.24% |
Expected return on plan assets | 6.00% | 6.00% | 6.00% |
Foreign Plan [Member] | |||
Pension benefit obligations: | |||
Discount rate | 1.72% | 2.42% | 2.25% |
Net periodic benefit cost: | |||
Discount rate | 2.50% | 2.54% | 2.34% |
Rate of compensation increase | 3.28% | 3.21% | 3.33% |
Expected return on plan assets | 4.61% | 4.66% | 5.92% |
Pension and Postretirement B_11
Pension and Postretirement Benefit Plans - Significant Weighted Average Assumptions Used in Measurement of OPEB Obligations (Details) - Other Postretirement Benefits Plan [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
UNITED STATES | |||
OPEB benefit obligations: | |||
Discount rate | 3.37% | ||
Net periodic benefit cost: | |||
Discount rate | 4.08% | ||
Foreign Plan [Member] | |||
OPEB benefit obligations: | |||
Discount rate | 3.10% | 3.71% | 3.41% |
Net periodic benefit cost: | |||
Discount rate | 3.76% | 3.42% | 3.70% |
Initial health care cost trend rate | 4.22% | 4.12% | 5.07% |
Ultimate health care cost trend rate | 4.93% | 5.10% | 5.07% |
Pension and Postretirement B_12
Pension and Postretirement Benefit Plans - Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Details) - Other Postretirement Benefits Plan [Member] - Foreign Plan [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Defined Benefit Plan Disclosure [Line Items] | |
Effect on total of service and interest cost components one percentage point increase | $ 0 |
Effect on OPEB obligations one percentage point increase | 9 |
Effect on total of service and interest cost components one percentage point decrease | 0 |
Effect on OPEB obligations one percentage point decrease | $ (8) |
Pension and Postretirement B_13
Pension and Postretirement Benefit Plans - Estimated Future Benefit Payments (Details) $ in Millions | Dec. 31, 2019USD ($) |
Pension Plan [Member] | UNITED STATES | |
Defined Benefit Plan Disclosure [Line Items] | |
2020 | $ 52 |
2021 | 52 |
2022 | 52 |
2023 | 51 |
2024 | 50 |
2025 to 2029 | 236 |
Total | 493 |
Pension Plan [Member] | Foreign Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2020 | 19 |
2021 | 15 |
2022 | 17 |
2023 | 17 |
2024 | 20 |
2025 to 2029 | 103 |
Total | 191 |
Other Postretirement Benefits Plan [Member] | UNITED STATES | |
Defined Benefit Plan Disclosure [Line Items] | |
2025 to 2029 | 1 |
Total | 1 |
Other Postretirement Benefits Plan [Member] | Foreign Plan [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2020 | 5 |
2021 | 5 |
2022 | 5 |
2023 | 5 |
2024 | 5 |
2025 to 2029 | 24 |
Total | $ 49 |
Pension and Postretirement B_14
Pension and Postretirement Benefit Plans - Multiemployer Pension Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Multiemployer Plans [Line Items] | |||
Employer Identification Number | 26-1531856 | ||
PPA Zone Status | Green | ||
Funding Plan Pending / Implemented | No | ||
Contributions by Dana | $ 13 | $ 12 | $ 11 |
Surcharge Imposed | No | ||
Steelworkers Pension Trust [Member] | |||
Multiemployer Plans [Line Items] | |||
Employer Identification Number | 23-6648508 | ||
Multiemployer Plan Number | 499 |
Marketable Securities - Schedu
Marketable Securities - Schedule of Marketable Securities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Marketable Securities [Line Items] | ||
Marketable Securities, Cost | $ 19 | $ 21 |
Unrealized Gain (Loss) | 0 | 0 |
Marketable Securities, Fair Value | 19 | 21 |
US Treasury and Government [Member] | ||
Marketable Securities [Line Items] | ||
Debt Securities, Cost | 0 | 2 |
Debt Securities, Unrealized Gain | 0 | 0 |
Debt Securities, Fair Value | 0 | 2 |
Corporate Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Debt Securities, Cost | 4 | |
Debt Securities, Unrealized Gain | ||
Debt Securities, Fair Value | 0 | 4 |
Certificates of Deposit [Member] | ||
Marketable Securities [Line Items] | ||
Debt Securities, Cost | 19 | 15 |
Debt Securities, Unrealized Gain | ||
Debt Securities, Fair Value | $ 19 | $ 15 |
Marketable Securities - Additi
Marketable Securities - Additional Information (Details) $ in Millions | Dec. 31, 2019USD ($) |
Certificates of Deposit [Member] | |
Marketable Securities [Line Items] | |
Marketable securities, maturing in one year or less | $ 19 |
Financing Agreements - Long Te
Financing Agreements - Long Term Debt (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Nov. 30, 2019 | Dec. 31, 2018 | Apr. 04, 2017 | |||
Debt Instrument [Line Items] | |||||||
Principal | $ 2,384 | $ 1,793 | |||||
Debt issuance costs | (28) | (18) | |||||
Long-term debt, including finance lease obligations, including current maturities | 2,356 | 1,775 | |||||
Less: Current portion of long-term debt | 20 | 20 | |||||
Long-term debt, less debt issuance costs | $ 2,336 | $ 1,755 | |||||
Senior Notes Due September 2023 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 6.00% | 6.00% | |||||
Principal | $ 0 | $ 300 | |||||
Senior Notes Due December 2024 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 5.50% | 5.50% | |||||
Principal | $ 425 | $ 425 | |||||
Senior Notes Due April 2025 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 5.75% | [1] | 5.75% | [1] | 5.75% | ||
Principal | $ 400 | $ 400 | |||||
Senior Notes Due April 2025 [Member] | Cash Flow Hedging [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 5.75% | ||||||
Derivative, fixed interest rate | 3.85% | ||||||
Senior Notes Due June 2026 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | [1] | 6.50% | 6.50% | ||||
Principal | $ 375 | $ 375 | |||||
Senior Notes Due June 2026 [Member] | Cash Flow Hedging [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 6.50% | ||||||
Derivative, fixed interest rate | 5.14% | ||||||
Senior Notes Due November 2027 [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Interest Rate | 5.375% | 5.375% | |||||
Principal | $ 300 | 0 | |||||
Term A Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Principal | 474 | 265 | |||||
Term B Facility [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Principal | 349 | 0 | |||||
Other Indebtedness | |||||||
Debt Instrument [Line Items] | |||||||
Principal | $ 61 | $ 28 | |||||
[1] | * In conjunction with the issuance of the April 2025 Notes we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . In conjunction with the issuance of the June 2026 Notes we entered into 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro-denominated debt at a fixed rate of 5.140% . See Note 16 for additional information. |
Financing Agreements - Schedul
Financing Agreements - Scheduled Principal Payments on Long-Term Debt, Excluding Finance Leases (Details) $ in Millions | Dec. 31, 2019USD ($) |
Debt Disclosure [Abstract] | |
2020 | $ 15 |
2021 | 31 |
2022 | 30 |
2023 | 30 |
2024 | $ 821 |
Financing Agreements - Additio
Financing Agreements - Additional Information (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | Nov. 30, 2019 | Nov. 26, 2019 | Nov. 22, 2019 | Aug. 30, 2019 | Feb. 28, 2019 | Sep. 18, 2017 | Sep. 14, 2017 | Apr. 04, 2017 | Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||||
Debt Instrument [Line Items] | |||||||||||||||||||
Loss on extinguishment of debt | $ 6,000,000 | $ 9,000,000 | $ 9,000,000 | $ 19,000,000 | |||||||||||||||
Write-off of deferred financing costs | 2,000,000 | 4,000,000 | |||||||||||||||||
Redemption premium | $ 7,000,000 | $ 15,000,000 | |||||||||||||||||
Term A Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Net proceeds of the offering | $ 225,000,000 | $ 275,000,000 | |||||||||||||||||
Current aggregate facility | 500,000,000 | ||||||||||||||||||
Line of Credit Facility, Periodic Payment | 8,000,000 | ||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 3.30% | 3.30% | 3.30% | ||||||||||||||||
Term Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Financing costs | $ 13,000,000 | ||||||||||||||||||
Term B Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Net proceeds of the offering | 450,000,000 | ||||||||||||||||||
Current aggregate facility | $ 450,000,000 | ||||||||||||||||||
Line Of Credit Facility, Periodic Payment, Principal, Percentage | 0.25% | ||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 4.05% | 4.05% | 4.05% | ||||||||||||||||
Revolving Credit Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Net proceeds of the offering | 100,000,000 | ||||||||||||||||||
Financing costs | 4,000,000 | ||||||||||||||||||
Current aggregate facility | $ 1,000,000,000 | $ 750,000,000 | |||||||||||||||||
Fronting fee rate | 0.125% | ||||||||||||||||||
Line of credit facility, amount outstanding | $ 0 | $ 0 | $ 0 | ||||||||||||||||
Utilized for letters of credit | 21,000,000 | 21,000,000 | 21,000,000 | ||||||||||||||||
Available borrowing capacity | 979,000,000 | 979,000,000 | 979,000,000 | ||||||||||||||||
Revolving Credit Facility [Member] | Maximum [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Line of credit facility applied to letters of credit | $ 275,000,000 | $ 275,000,000 | $ 275,000,000 | ||||||||||||||||
Senior Notes Due November 2027 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Senior notes issued | $ 300,000,000 | ||||||||||||||||||
Interest rate | 5.375% | 5.375% | 5.375% | 5.375% | |||||||||||||||
Net proceeds of the offering | $ 296,000,000 | ||||||||||||||||||
Financing costs | 4,000,000 | ||||||||||||||||||
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 105.375% | ||||||||||||||||||
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period One [Member] | Minimum [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Percent of original principal amount that must remain outstanding after the redemption | 50.00% | ||||||||||||||||||
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period One [Member] | Maximum [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Percent of notes redeemable | 35.00% | ||||||||||||||||||
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Two [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 100.00% | ||||||||||||||||||
Senior Notes Due September 2023 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 6.00% | 6.00% | 6.00% | 6.00% | |||||||||||||||
Senior notes redeemed | $ 138,000,000 | $ 162,000,000 | |||||||||||||||||
Debt redemption price | 102.00% | 102.25% | |||||||||||||||||
Loss on extinguishment of debt | 9,000,000 | ||||||||||||||||||
Write-off of deferred financing costs | $ 2,000,000 | ||||||||||||||||||
Senior Notes Due April 2025 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Senior notes issued | $ 400,000,000 | ||||||||||||||||||
Interest rate | 5.75% | [1] | 5.75% | 5.75% | [1] | 5.75% | [1] | 5.75% | [1] | ||||||||||
Net proceeds of the offering | $ 394,000,000 | ||||||||||||||||||
Financing costs | 6,000,000 | ||||||||||||||||||
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 105.75% | ||||||||||||||||||
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period One [Member] | Minimum [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Percent of original principal amount that must remain outstanding after the redemption | 50.00% | ||||||||||||||||||
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period One [Member] | Maximum [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Percent of notes redeemable | 35.00% | ||||||||||||||||||
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Two [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 100.00% | ||||||||||||||||||
Senior Notes Due September 2021 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Senior notes redeemed | $ 350,000,000 | $ 100,000,000 | |||||||||||||||||
Debt redemption price | 102.688% | 104.031% | |||||||||||||||||
Loss on extinguishment of debt | $ 13,000,000 | ||||||||||||||||||
Write-off of deferred financing costs | 3,000,000 | $ 1,000,000 | |||||||||||||||||
Redemption premium | $ 10,000,000 | 4,000,000 | |||||||||||||||||
Other Indebtedness [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Redemption premium | $ 1,000,000 | ||||||||||||||||||
Senior Notes Due June 2026 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | [1] | 6.50% | 6.50% | 6.50% | 6.50% | ||||||||||||||
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period One [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 100.00% | ||||||||||||||||||
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Two [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt redemption price | 103.25% | ||||||||||||||||||
Cash Flow Hedging [Member] | Senior Notes Due April 2025 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 5.75% | 5.75% | 5.75% | ||||||||||||||||
Derivative, Fixed Interest Rate | 3.85% | 3.85% | 3.85% | ||||||||||||||||
Cash Flow Hedging [Member] | Senior Notes Due June 2026 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Interest rate | 6.50% | 6.50% | 6.50% | ||||||||||||||||
Derivative, Fixed Interest Rate | 5.14% | 5.14% | 5.14% | ||||||||||||||||
Currency Swap [Member] | Cash Flow Hedging [Member] | Senior Notes Due April 2025 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Derivative, Fixed Interest Rate | 3.85% | ||||||||||||||||||
Forecast [Member] | Term A Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Line of Credit Facility, Periodic Payment | $ 7,000,000 | ||||||||||||||||||
Base Rate [Member] | Term B Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||||||||||||||||
Eurodollar [Member] | Term B Facility [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||||||||||||||||
[1] | * In conjunction with the issuance of the April 2025 Notes we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . In conjunction with the issuance of the June 2026 Notes we entered into 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro-denominated debt at a fixed rate of 5.140% . See Note 16 for additional information. |
Financing Agreements - Redempt
Financing Agreements - Redemption Price Expressed as Percentage of Principal Amount (Details) | Dec. 31, 2019 |
Senior Notes Due December 2024 [Member] | Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 101.833% |
Senior Notes Due December 2024 [Member] | Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.917% |
Senior Notes Due December 2024 [Member] | Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due December 2024 [Member] | Debt Instrument, Redemption, Period Four [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 105.75% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 104.313% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Four [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 102.875% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Five [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 101.438% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Six [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due April 2025 [Member] | Debt Instrument, Redemption, Period Seven [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 103.25% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 102.167% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Four [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 101.083% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Five [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due June 2026 [Member] | Debt Instrument, Redemption, Period Six [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 105.375% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 102.688% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Four [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 101.344% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Five [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Six [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Senior Notes Due November 2027 [Member] | Debt Instrument, Redemption, Period Seven [Member] | |
Debt Instrument [Line Items] | |
Debt redemption price | 100.00% |
Financing Agreements - Sched_2
Financing Agreements - Schedule of Term A Facility and Revolving Facility Margins (Details) - Term A Facility And Revolving Facility [Member] | 12 Months Ended |
Dec. 31, 2019 | |
Base Rate [Member] | Less than or equal to 1.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 0.25% |
Base Rate [Member] | Greater than 1.00:1.00 but less than or equal to 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 0.50% |
Base Rate [Member] | Greater than 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 0.75% |
Eurodollar Rate [Member] | Less than or equal to 1.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 1.25% |
Eurodollar Rate [Member] | Greater than 1.00:1.00 but less than or equal to 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 1.50% |
Eurodollar Rate [Member] | Greater than 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Margin rate | 1.75% |
Financing Agreements - Sched_3
Financing Agreements - Schedule of Revolving Facility Commitment Fees (Details) - Revolving Credit Facility [Member] | 12 Months Ended |
Dec. 31, 2019 | |
Less than or equal to 1.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Unused capacity, commitment fee rate | 0.25% |
Greater than 1.00:1.00 but less than or equal to 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Unused capacity, commitment fee rate | 0.375% |
Greater than 2.00:1.00 [Member] | |
Debt Instrument [Line Items] | |
Unused capacity, commitment fee rate | 0.50% |
Fair Value Measurements and D_3
Fair Value Measurements and Derivatives - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 2 [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Marketable securities | $ 19 | $ 21 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Accounts Receivable Other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Currency contracts asset value | 1 | 2 |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Currency contracts liability value | 1 | 1 |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Accounts Receivable Other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Currency contracts asset value | 14 | 6 |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Other Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Currency contracts liability value | 2 | 5 |
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | Other Accrued Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Interest rate collars | 3 | |
Currency Swap [Member] | Cash Flow Hedging [Member] | Other Noncurrent Liabilities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Currency contracts liability value | $ 71 | $ 118 |
Fair Value Measurements and D_4
Fair Value Measurements and Derivatives - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Carrying Value | $ 2,384 | $ 1,793 |
Fair Value | 2,450 | 1,730 |
Other Indebtedness [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Carrying Value | 61 | 28 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Senior Notes Total [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Carrying Value | 1,500 | 1,500 |
Fair Value | 1,570 | 1,442 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Term Facility [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Carrying Value | 823 | 265 |
Fair Value | 823 | 265 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Other Indebtedness [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Carrying Value | 61 | 28 |
Fair Value | $ 57 | $ 23 |
Fair Value Measurements and D_5
Fair Value Measurements and Derivatives - Additional Information (Details) € in Millions, $ in Millions | Dec. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019EUR (€) |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | $ 1,598 | $ 1,598 | ||||
Settlements of undesignated derivatives | 20 | |||||
Balance of deferred loss on net investment hedge | 4 | 4 | ||||
Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 1,459 | 1,459 | ||||
Interest Rate Swap [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Fair value adjustment to the carrying amount of the December 2024 Notes | 5 | 5 | ||||
Amortization of fair value adjustment to debt | 1 | |||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 0 | 0 | ||||
Interest Rate Contract [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | $ 425 | 425 | ||||
Forward Contracts [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Maximum Remaining Maturity of Foreign Currency Derivatives | 18 months | |||||
Foreign Exchange Forward [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | $ 508 | 508 | 1,007 | |||
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 369 | 369 | ||||
Currency Swap [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 1,090 | 1,090 | 1,097 | |||
Currency Swap [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 1,090 | 1,090 | ||||
Senior Notes Due June 2026 [Member] | Currency Swap [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 375 | 375 | € 338 | |||
Intercompany Notes [Member] | Net Investment Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 0 | 0 | ||||
Intercompany Notes [Member] | Currency Swap [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 300 | 300 | 281 | |||
Senior Notes Due April 2025 [Member] | Currency Swap [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 400 | 400 | € 371 | |||
Swedish, Kronor | Foreign Exchange Forward [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 1 | 1 | ||||
Swedish, Kronor | Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | ||||||
Not Designated as Hedging Instrument [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 139 | 139 | ||||
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 139 | 139 | ||||
Not Designated as Hedging Instrument [Member] | Currency Swap [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | 0 | 0 | ||||
Not Designated as Hedging Instrument [Member] | Swedish, Kronor | Foreign Exchange Forward [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Derivative, Notional Amount | $ 1 | 1 | ||||
Settlements of undesignated derivatives | $ 21 | |||||
Other Income (Expense), Net [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Loss on foreign currency derivatives not designated as hedging instruments | $ (14) | $ (5) | ||||
Other Income (Expense), Net [Member] | Swedish, Kronor | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Loss on foreign currency derivatives not designated as hedging instruments | $ (13) |
Fair Value Measurements and D_6
Fair Value Measurements and Derivatives - Summary of Fixed-to-Fixed Cross-Currency Swaps (Details) € in Millions, $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2018USD ($) | Apr. 04, 2017 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | $ 1,598 | |||||||
Currency Swap [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 1,090 | $ 1,097 | ||||||
Currency Swap [Member] | United States of America, Dollars [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 315 | |||||||
Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 775 | |||||||
Cash Flow Hedging [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 1,459 | |||||||
Cash Flow Hedging [Member] | Currency Swap [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 1,090 | |||||||
Cash Flow Hedging [Member] | Currency Swap [Member] | United States of America, Dollars [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | 315 | |||||||
Cash Flow Hedging [Member] | Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | $ 775 | |||||||
Senior Notes Due June 2026 [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Interest Rate | [1] | 6.50% | 6.50% | 6.50% | ||||
Senior Notes Due June 2026 [Member] | Cash Flow Hedging [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, amount of hedged item | $ 375 | |||||||
Interest Rate | 6.50% | 6.50% | ||||||
Derivative, fixed interest rate | 5.14% | 5.14% | ||||||
Senior Notes Due June 2026 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | $ 375 | € 338 | ||||||
Senior Notes Due June 2026 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | United States of America, Dollars [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 6.50% | 6.50% | ||||||
Senior Notes Due June 2026 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 5.14% | 5.14% | ||||||
Senior Notes Due April 2025 [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Interest Rate | 5.75% | [1] | 5.75% | [1] | 5.75% | [1] | 5.75% | |
Senior Notes Due April 2025 [Member] | Cash Flow Hedging [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, amount of hedged item | $ 400 | |||||||
Interest Rate | 5.75% | 5.75% | ||||||
Derivative, fixed interest rate | 3.85% | 3.85% | ||||||
Senior Notes Due April 2025 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | $ 400 | € 371 | ||||||
Derivative, fixed interest rate | 3.85% | |||||||
Senior Notes Due April 2025 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | United States of America, Dollars [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 5.75% | 5.75% | ||||||
Senior Notes Due April 2025 [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 3.85% | 3.85% | ||||||
Intercompany Notes [Member] | Cash Flow Hedging [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, amount of hedged item | € | € 281 | |||||||
Interest Rate | 3.91% | 3.91% | ||||||
Intercompany Notes [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, Notional Amount | $ 300 | € 281 | ||||||
Intercompany Notes [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | United States of America, Dollars [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 6.00% | 6.00% | ||||||
Intercompany Notes [Member] | Cash Flow Hedging [Member] | Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Derivative, fixed interest rate | 3.91% | 3.91% | ||||||
[1] | * In conjunction with the issuance of the April 2025 Notes we entered into 8-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the April 2025 Notes to euro-denominated debt at a fixed rate of 3.850% . In conjunction with the issuance of the June 2026 Notes we entered into 10-year fixed-to-fixed cross-currency swaps which have the effect of economically converting the June 2026 Notes to euro-denominated debt at a fixed rate of 5.140% . See Note 16 for additional information. |
Fair Value Measurements and D_7
Fair Value Measurements and Derivatives - Notional Amount of Currency Derivatives (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | $ 1,598 | |
Not Designated as Hedging Instrument [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 139 | |
Cash Flow Hedging [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 1,459 | |
Foreign Exchange Forward [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | $ 508 | $ 1,007 |
Foreign Exchange Forward [Member] | United States of America, Dollars [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | Mexican peso, euro | |
Derivative, Notional Amount | $ 177 | |
Foreign Exchange Forward [Member] | Euro Member Countries, Euro [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, Canadian dollar, Hungarian forint, British pound, Swiss franc, Indian rupee, Russian ruble, Chinese renminbi, Mexican peso, Australian dollar, Japanese yen | |
Derivative, Notional Amount | $ 131 | |
Foreign Exchange Forward [Member] | United Kingdom, Pounds [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, euro | |
Derivative, Notional Amount | $ 7 | |
Foreign Exchange Forward [Member] | Swedish, Kronor | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | euro | |
Derivative, Notional Amount | $ 1 | |
Foreign Exchange Forward [Member] | South Africa, Rand [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, euro, Thai baht | |
Derivative, Notional Amount | $ 11 | |
Foreign Exchange Forward [Member] | Canada, Dollars | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar | |
Derivative, Notional Amount | $ 11 | |
Foreign Exchange Forward [Member] | Thailand, Baht [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, euro | |
Derivative, Notional Amount | $ 52 | |
Foreign Exchange Forward [Member] | Brazil, Brazil Real [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, euro | |
Derivative, Notional Amount | $ 74 | |
Foreign Exchange Forward [Member] | India, Rupees [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, British pound, euro | |
Derivative, Notional Amount | $ 37 | |
Foreign Exchange Forward [Member] | China, Yuan Renminbi [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar, Canadian dollar, euro | |
Derivative, Notional Amount | $ 7 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 139 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | United States of America, Dollars [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 16 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Euro Member Countries, Euro [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 21 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | United Kingdom, Pounds [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 5 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Swedish, Kronor | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 1 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | South Africa, Rand [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 4 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Thailand, Baht [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 38 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | Brazil, Brazil Real [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 10 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | India, Rupees [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 37 | |
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member] | China, Yuan Renminbi [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 7 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 369 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | United States of America, Dollars [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 161 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Euro Member Countries, Euro [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 110 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | United Kingdom, Pounds [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 2 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Swedish, Kronor | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | ||
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | South Africa, Rand [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 7 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Canada, Dollars | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 11 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Thailand, Baht [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 14 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | Brazil, Brazil Real [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 64 | |
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | India, Rupees [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | ||
Foreign Exchange Forward [Member] | Cash Flow Hedging [Member] | China, Yuan Renminbi [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | ||
Currency Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | $ 1,090 | $ 1,097 |
Currency Swap [Member] | United States of America, Dollars [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | Euro | |
Derivative, Notional Amount | $ 315 | |
Currency Swap [Member] | Euro Member Countries, Euro [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Traded Currency | U.S. dollar | |
Derivative, Notional Amount | $ 775 | |
Currency Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 0 | |
Currency Swap [Member] | Cash Flow Hedging [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 1,090 | |
Currency Swap [Member] | Cash Flow Hedging [Member] | United States of America, Dollars [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 315 | |
Currency Swap [Member] | Cash Flow Hedging [Member] | Euro Member Countries, Euro [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | $ 775 |
Fair Value Measurements and D_8
Fair Value Measurements and Derivatives - Deferred Gain (Loss) in AOCI on Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 6 | |
Forward Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | 6 | |
Cash Flow Hedging [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
AOCI before tax | (33) | $ (58) |
Cash Flow Hedging [Member] | Forward Contracts [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
AOCI before tax | 6 | 2 |
Cash Flow Hedging [Member] | Interest Rate Contract [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
AOCI before tax | (3) | |
Cash Flow Hedging [Member] | Currency Swap [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
AOCI before tax | $ (36) | $ (60) |
Fair Value Measurements and D_9
Fair Value Measurements and Derivatives - Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | $ 8,620 | $ 8,143 | $ 7,209 |
Cost of sales | 7,489 | 6,986 | 6,143 | ||||||||
Other expense, net | 25 | 29 | $ 16 | ||||||||
Cash Flow Hedging [Member] | Forward Contracts [Member] | Cost of Sales [Member] | |||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||
Reclassification from AOCI | (9) | (1) | |||||||||
Cash Flow Hedging [Member] | Currency Swap [Member] | Other Income (Expense), Net [Member] | |||||||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||
Reclassification from AOCI | $ (24) | $ (55) |
Fair Value Measurements and _10
Fair Value Measurements and Derivatives - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cost of Sales [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain (loss) recognized in income on foreign currency derivatives not designated as hedging instruments | $ 0 | $ (5) |
Other Income (Expense), Net [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain (loss) recognized in income on foreign currency derivatives not designated as hedging instruments | $ (14) | $ (5) |
Commitments and Contingencies
Commitments and Contingencies - Additional Information (Details) $ in Millions | Dec. 31, 2019USD ($)Lease | Dec. 31, 2018USD ($) |
Loss Contingencies [Line Items] | ||
Accrued product liabilities | $ 10 | $ 19 |
Accrued environmental liabilities | 13 | 10 |
Damages from Product Defects [Member] | ||
Loss Contingencies [Line Items] | ||
Probable recovery receivable | $ 13 | $ 24 |
Property Lease Guarantee [Member] | Structural Products [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantee of lease obligations, number of leases assigned | Lease | 3 | |
Guaranteed annual lease payments through June 2025 related to divested business | $ 6 |
Warranty Obligations - Changes
Warranty Obligations - Changes in Warranty Liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | |||
Balance, beginning of period | $ 75 | $ 76 | $ 66 |
Acquisitions | 24 | 6 | |
Amounts accrued for current period sales | 35 | 37 | 32 |
Adjustments of prior estimates | 2 | (1) | 11 |
Settlements of warranty claims | (35) | (35) | (42) |
Currency impact | (2) | 3 | |
Balance, end of period | $ 101 | $ 75 | $ 76 |
Income Taxes - Income Tax Expe
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current | |||
U.S. federal and state | $ 13 | $ 14 | $ 6 |
Non-U.S. | 92 | 128 | 98 |
Total current | 105 | 142 | 104 |
Deferred | |||
U.S. federal and state | (104) | (47) | 164 |
Non-U.S. | (33) | (17) | 15 |
Total deferred | (137) | (64) | 179 |
Total expense (benefit) | $ (32) | $ 78 | $ 283 |
Income Taxes - Income Before I
Income Taxes - Income Before Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
U.S. operations | $ (166) | $ 26 | $ 60 |
Non-U.S. operations | 337 | 468 | 320 |
Earnings before income taxes | $ 171 | $ 494 | $ 380 |
Income Taxes - Additional Info
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
U.S. federal statutory rate | 21.00% | 21.00% | 21.00% | 21.00% | 35.00% | |||||
Tax charge to recognize tax reform legislation | $ 186 | $ 186 | ||||||||
Change in valuation allowance | 49 | |||||||||
Pension settlement charges | $ 258 | $ 259 | ||||||||
Income tax expense (benefit) | (32) | 78 | 283 | |||||||
Other tax benefits | $ 22 | 87 | $ 16 | $ 39 | (6) | 44 | ||||
Other amounts | $ 48 | |||||||||
Reversal of a provision for an uncertain tax position | 11 | |||||||||
Benefit related to repatriations from non-U.S. operations | 7 | |||||||||
Tax expense (benefit) related to settlements | $ 5 | |||||||||
Effect of change in corporate tax rate | 2.00% | 1.00% | 49.00% | |||||||
Foreign tax credits | $ 49 | $ 49 | ||||||||
Expense related to repatriations from non-U.S. operations | $ 3 | 2 | ||||||||
Withholding taxes paid | 10 | $ 11 | 7 | |||||||
Unrecognized tax liability associated with operations in which we are permanently reinvested | $ 9 | 9 | ||||||||
Intercompany loan obligations | 1,015 | 1,015 | ||||||||
Intercompany loan obligations to parent considered permanently invested | 19 | 19 | ||||||||
Capital loss carryforwards | 42 | $ 40 | 42 | 40 | ||||||
Capital loss carryforward valuation allowance | 42 | 42 | ||||||||
Other tax credit carryforwards | 244 | 244 | ||||||||
Other tax credit carryforward, valuation allowance | 18 | 18 | ||||||||
Interest accrued on uncertain tax positions | 12 | $ 11 | 12 | 11 | ||||||
Decrease related to prior years tax positions | 15 | 25 | ||||||||
Decrease in unrecognized tax benefits reasonably possible in next twelve months | 17 | 17 | ||||||||
Unrecognized tax benefit that would impact effective tax rate | 90 | 90 | ||||||||
Pension Plan [Member] | ||||||||||
Income tax expense (benefit) | 11 | |||||||||
Pension Plan [Member] | ||||||||||
Change in valuation allowance | (18) | |||||||||
Internal Revenue Service (IRS) [Member] | ||||||||||
Operating loss carryforwards | 281 | 281 | ||||||||
Operating loss carryforwards subjected to limitation, annual limit | $ 84 | 84 | ||||||||
UNITED STATES | ||||||||||
Change in valuation allowance | $ (5) | |||||||||
Decrease related to prior years tax positions | $ 23 | |||||||||
UNITED STATES | Income Projections [Member] | ||||||||||
Change in valuation allowance | (34) | |||||||||
UNITED STATES | Tax Credits [Member] | ||||||||||
Change in valuation allowance | (30) | |||||||||
BRAZIL | ||||||||||
Change in valuation allowance | $ (22) | $ (22) | ||||||||
Maximum [Member] | ||||||||||
Transition tax rate | 0.155 | |||||||||
Other tax credit carryforward periods | 20 years | |||||||||
Minimum [Member] | ||||||||||
Transition tax rate | 0.08 | |||||||||
Other tax credit carryforward periods | 10 years |
Income Taxes - Effective Tax R
Income Taxes - Effective Tax Rate Reconciliation (Details) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Income Tax Disclosure [Abstract] | |||||
U.S. federal income tax rate | 21.00% | 21.00% | 21.00% | 21.00% | 35.00% |
State and local income taxes, net of federal benefit | (1.00%) | 1.00% | 1.00% | ||
Non-U.S. income (expense) | 15.00% | 5.00% | (11.00%) | ||
Credits and tax incentives | (37.00%) | (18.00%) | (16.00%) | ||
Foreign derived intangible income | (2.00%) | ||||
U.S. tax on non-U.S. earnings | 12.00% | 3.00% | 12.00% | ||
Intercompany sale of certain operating assets | 1.00% | (6.00%) | |||
Settlement and return adjustments | (11.00%) | 6.00% | (2.00%) | ||
Enacted change in tax laws | 2.00% | 1.00% | 49.00% | ||
Pension settlement | 43.00% | ||||
Miscellaneous items | (1.00%) | 1.00% | |||
Valuation allowance adjustments | (60.00%) | (4.00%) | 11.00% | ||
Effective income tax rate | (19.00%) | 16.00% | 74.00% |
Income Taxes - Deferred Tax As
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 258 | $ 255 |
Postretirement benefits, including pensions | 87 | 98 |
Research and development costs | 124 | 94 |
Expense accruals | 81 | 75 |
Other tax credits recoverable | 244 | 232 |
Capital loss carryforwards | 42 | 40 |
Inventory reserves | 19 | 13 |
Postemployment and other benefits | 6 | 6 |
Leasing activities | 46 | |
Total | 907 | 813 |
Valuation allowances | (190) | (281) |
Deferred tax assets | 717 | 532 |
Unremitted earnings | (4) | (1) |
Intangibles | (34) | (11) |
Depreciation | (104) | (44) |
Other | (33) | (59) |
Deferred tax liabilities | (175) | (115) |
Net deferred tax assets | $ 542 | $ 417 |
Income Taxes - Net Operating L
Income Taxes - Net Operating Loss Carryforwards (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Asset | $ 258,000,000 | $ 255,000,000 |
Valuation Allowance | (114,000,000) | |
Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Domestic | 59,000,000 | |
Valuation Allowance | $ 0 | |
Net operating loss carryforward period In years | 20 years | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, State and Local | $ 75,000,000 | |
Valuation Allowance | $ (37,000,000) | |
Carryforward period | Various | |
BRAZIL | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 17,000,000 | |
Valuation Allowance | $ (6,000,000) | |
Carryforward period | Unlimited | |
FRANCE | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 8,000,000 | |
Valuation Allowance | ||
Carryforward period | Unlimited | |
AUSTRALIA | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 24,000,000 | |
Valuation Allowance | $ (24,000,000) | |
Carryforward period | Unlimited | |
ITALY | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 32,000,000 | |
Valuation Allowance | $ (6,000,000) | |
Carryforward period | Unlimited | |
GERMANY | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 6,000,000 | |
Valuation Allowance | $ (6,000,000) | |
Carryforward period | Unlimited | |
UNITED KINGDOM | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 3,000,000 | |
Valuation Allowance | $ (3,000,000) | |
Carryforward period | Unlimited | |
CANADA | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 21,000,000 | |
Valuation Allowance | $ (20,000,000) | |
Net operating loss carryforward period In years | 20 years | |
ARGENTINA | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 1,000,000 | |
Valuation Allowance | $ (1,000,000) | |
Net operating loss carryforward period In years | 5 years | |
CHINA | ||
Operating Loss Carryforwards [Line Items] | ||
Deferred Tax Assets, Net operating loss carryforwards, Foreign | $ 12,000,000 | |
Valuation Allowance | $ (11,000,000) | |
Net operating loss carryforward period In years | 5 years |
Income Taxes - Reconciliation
Income Taxes - Reconciliation of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance, beginning of period | $ 107 | $ 119 | $ 117 |
Decrease related to expiration of statute of limitations | (10) | (4) | (3) |
Decrease related to prior years tax positions | (15) | (25) | |
Increase related to prior years tax positions | 13 | 8 | 15 |
Increase related to current year tax positions | 9 | 10 | 15 |
Decrease related to settlements | (11) | ||
Balance, end of period | $ 119 | $ 107 | $ 119 |
Other Expense, Net - Summary o
Other Expense, Net - Summary of Other Expense, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Income and Expenses [Abstract] | |||
Non-service cost components of pension and OPEB costs | $ (23) | $ (15) | $ (7) |
Government grants and incentives | 15 | 12 | 7 |
Foreign exchange loss | (11) | (12) | (3) |
Strategic transaction expenses, net of transaction breakup fee income | (41) | (18) | (25) |
Non-income tax legal judgment | 6 | ||
Gain on sale of marketable securities | 1 | ||
Gain on liquidation of foreign subsidiary | 12 | ||
Amounts attributable to previously divested/closed operations | 3 | ||
Other, net | 16 | 4 | 9 |
Other expense, net | $ (25) | $ (29) | $ (16) |
Other Expense, Net - Additiona
Other Expense, Net - Additional Information (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Other Income and Expenses [Abstract] | |
Business transaction breakup fee income | $ 40 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Contract liabilities with customers | $ 23 | $ 12 |
Maximum [Member] | ||
Customer payment terms | 180 days |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | $ 8,620 | $ 8,143 | $ 7,209 |
North America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 4,473 | 4,106 | 3,688 | ||||||||
Europe [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 2,606 | 2,484 | 2,154 | ||||||||
South America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 509 | 546 | 500 | ||||||||
Asia Pacific [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 1,032 | 1,007 | 867 | ||||||||
Light Vehicle Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 3,609 | 3,575 | 3,172 | ||||||||
Light Vehicle Segment [Member] | North America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 2,679 | 2,477 | |||||||||
Light Vehicle Segment [Member] | Europe [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 325 | 347 | |||||||||
Light Vehicle Segment [Member] | South America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 137 | 186 | |||||||||
Light Vehicle Segment [Member] | Asia Pacific [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 468 | 565 | |||||||||
Commercial Vehicle Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 1,611 | 1,612 | 1,412 | ||||||||
Commercial Vehicle Segment [Member] | North America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 948 | 908 | |||||||||
Commercial Vehicle Segment [Member] | Europe [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 233 | 271 | |||||||||
Commercial Vehicle Segment [Member] | South America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 312 | 308 | |||||||||
Commercial Vehicle Segment [Member] | Asia Pacific [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 118 | 125 | |||||||||
Off-Highway Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 2,360 | 1,844 | 1,521 | ||||||||
Off-Highway Segment [Member] | North America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 317 | 141 | |||||||||
Off-Highway Segment [Member] | Europe [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 1,617 | 1,423 | |||||||||
Off-Highway Segment [Member] | South America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 40 | 34 | |||||||||
Off-Highway Segment [Member] | Asia Pacific [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 386 | 246 | |||||||||
Power Technologies Segment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 1,040 | 1,112 | $ 1,104 | ||||||||
Power Technologies Segment [Member] | North America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 529 | 580 | |||||||||
Power Technologies Segment [Member] | Europe [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 431 | 443 | |||||||||
Power Technologies Segment [Member] | South America [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | 20 | 18 | |||||||||
Power Technologies Segment [Member] | Asia Pacific [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Net sales | $ 60 | $ 71 |
Segments, Geographical Area a_3
Segments, Geographical Area and Major Customer Information - Additional Information (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)operating_segment | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of operating segments | operating_segment | 4 | ||||||||||
Segment EBITDA | $ 1,023 | $ 978 | |||||||||
Net Sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | 8,620 | 8,143 | $ 7,209 |
Ford [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | 1,753 | 1,646 | $ 1,553 | ||||||||
FCA [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 988 | $ 911 | |||||||||
Sales [Member] | Ford [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 20.00% | 20.00% | 22.00% | ||||||||
Sales [Member] | FCA [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 11.00% | 11.00% | |||||||||
Minimum [Member] | Sales [Member] | Customer Concentration Risk [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 10.00% | 10.00% | 10.00% | ||||||||
UNITED STATES | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 4,069 | $ 3,613 | $ 3,209 | ||||||||
UNITED STATES | Sales [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 47.00% | ||||||||||
ITALY | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 1,186 | 971 | 762 | ||||||||
ITALY | Sales [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 14.00% | ||||||||||
GERMANY | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net Sales | $ 478 | 513 | 473 | ||||||||
GERMANY | Sales [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 6.00% | ||||||||||
Other Countries | Minimum [Member] | Sales [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales as a percent of total revenue | 5.00% | ||||||||||
Light Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Segment EBITDA | $ 438 | 398 | 359 | ||||||||
Net Sales | 3,609 | 3,575 | 3,172 | ||||||||
Commercial Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Segment EBITDA | 138 | 146 | 119 | ||||||||
Net Sales | 1,611 | 1,612 | 1,412 | ||||||||
Off-Highway Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Segment EBITDA | 330 | 285 | 213 | ||||||||
Net Sales | 2,360 | 1,844 | 1,521 | ||||||||
Power Technologies Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Segment EBITDA | 117 | 149 | 173 | ||||||||
Net Sales | $ 1,040 | $ 1,112 | $ 1,104 |
Segments, Geographical Area a_4
Segments, Geographical Area and Major Customer Information - Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | $ 8,620 | $ 8,143 | $ 7,209 |
Segment EBITDA | 1,023 | 978 | |||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | 855 | ||||||||||
Capital Spend | 426 | 325 | 393 | ||||||||
Depreciation | 322 | 260 | 220 | ||||||||
Net assets | 4,167 | 3,009 | 4,167 | 3,009 | 2,969 | ||||||
Light Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 3,609 | 3,575 | 3,172 | ||||||||
Segment EBITDA | 438 | 398 | 359 | ||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | 359 | ||||||||||
Capital Spend | 179 | 195 | 279 | ||||||||
Depreciation | 149 | 124 | 88 | ||||||||
Net assets | 1,310 | 1,264 | 1,310 | 1,264 | 1,192 | ||||||
Commercial Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 1,611 | 1,612 | 1,412 | ||||||||
Segment EBITDA | 138 | 146 | 119 | ||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | 116 | ||||||||||
Capital Spend | 52 | 27 | 31 | ||||||||
Depreciation | 37 | 38 | 41 | ||||||||
Net assets | 888 | 577 | 888 | 577 | 575 | ||||||
Off-Highway Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 2,360 | 1,844 | 1,521 | ||||||||
Segment EBITDA | 330 | 285 | 213 | ||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | 212 | ||||||||||
Capital Spend | 85 | 36 | 32 | ||||||||
Depreciation | 87 | 43 | 40 | ||||||||
Net assets | 1,369 | 709 | 1,369 | 709 | 698 | ||||||
Power Technologies Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 1,040 | 1,112 | 1,104 | ||||||||
Segment EBITDA | 117 | 149 | 173 | ||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | 168 | ||||||||||
Capital Spend | 46 | 36 | 32 | ||||||||
Depreciation | 30 | 30 | 29 | ||||||||
Net assets | 379 | 376 | 379 | 376 | 380 | ||||||
Eliminations and other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | |||||||||||
Segment EBITDA | |||||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | |||||||||||
Capital Spend | 64 | 31 | 19 | ||||||||
Depreciation | 19 | 25 | 22 | ||||||||
Net assets | $ 221 | $ 83 | 221 | 83 | 124 | ||||||
Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 0 | 0 | 0 | ||||||||
Intersegment Eliminations [Member] | Light Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 124 | 133 | 130 | ||||||||
Intersegment Eliminations [Member] | Commercial Vehicle Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 100 | 107 | 97 | ||||||||
Intersegment Eliminations [Member] | Off-Highway Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 17 | 12 | 4 | ||||||||
Intersegment Eliminations [Member] | Power Technologies Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | 23 | 23 | 17 | ||||||||
Intersegment Eliminations [Member] | Eliminations and other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net sales | $ (264) | $ (275) | $ (248) |
Segments, Geographical Area a_5
Segments, Geographical Area and Major Customer Information - Reconciliation of Segment EBITDA to Consolidated Net Income (Details) - USD ($) $ in Millions | Apr. 04, 2017 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Segment Reporting [Abstract] | ||||||||||||
Segment EBITDA | $ 1,023 | $ 978 | ||||||||||
Segment EBITDA Including Non-service Cost Components of Defined Benefit Plan Costs | $ 855 | |||||||||||
Corporate expense and other items, net | (4) | (21) | (20) | |||||||||
Depreciation | (322) | (260) | (220) | |||||||||
Amortization | (17) | (10) | (13) | |||||||||
Non-service cost components of pension and OPEB costs | (23) | (15) | (7) | |||||||||
Restructuring charges, net | (29) | (25) | (14) | |||||||||
Stock compensation expense | (19) | (16) | (23) | |||||||||
Strategic transaction expenses, net of transaction breakup fee income | (41) | (18) | (25) | |||||||||
Acquisition related inventory adjustments | (13) | (14) | ||||||||||
Non-income tax legal judgment | 6 | |||||||||||
Other items | (11) | (17) | (11) | |||||||||
Gain (loss) on disposal group held for sale | $ 3 | 3 | (27) | |||||||||
Gain on liquidation of foreign subsidiary | 12 | |||||||||||
Impairment of goodwill and indefinite-lived intangible asset | $ (6) | (20) | (6) | (20) | ||||||||
Amounts attributable to previously divested/closed operations | (5) | 2 | ||||||||||
Pension settlement charges | $ (258) | (259) | ||||||||||
Earnings before interest and income taxes | 292 | 579 | 490 | |||||||||
Loss on extinguishment of debt | $ (6) | (9) | (9) | (19) | ||||||||
Interest expense | 122 | 96 | 102 | |||||||||
Interest income | 10 | 11 | 11 | |||||||||
Earnings before income taxes | 171 | 494 | 380 | |||||||||
Income tax expense (benefit) | (32) | 78 | 283 | |||||||||
Equity in earnings of affiliates | 30 | 24 | 19 | |||||||||
Net income | $ 86 | $ 112 | $ (66) | $ 101 | $ 106 | $ 96 | $ 127 | $ 111 | $ 233 | $ 440 | $ 116 |
Segments, Geographical Area a_6
Segments, Geographical Area and Major Customer Information - Reconciliation of Segment Net Assets to Consolidated Total Assets (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Segment Reporting [Abstract] | |||
Segment net assets | $ 4,167 | $ 3,009 | $ 2,969 |
Accounts payable and other current liabilities | 1,723 | 1,672 | |
Other current and long-term assets | 1,330 | 1,237 | |
Total assets | $ 7,220 | $ 5,918 |
Segments, Geographical Area a_7
Segments, Geographical Area and Major Customer Information - Geographic Information (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | $ 8,620 | $ 8,143 | $ 7,209 |
Long-Lived Assets | 2,265 | 1,850 | 2,265 | 1,850 | 1,807 | ||||||
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 4,069 | 3,613 | 3,209 | ||||||||
Long-Lived Assets | 972 | 860 | 972 | 860 | 828 | ||||||
Other North America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 404 | 493 | 479 | ||||||||
Long-Lived Assets | 105 | 87 | 105 | 87 | 82 | ||||||
North America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 4,473 | 4,106 | 3,688 | ||||||||
Long-Lived Assets | 1,077 | 947 | 1,077 | 947 | 910 | ||||||
ITALY | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 1,186 | 971 | 762 | ||||||||
Long-Lived Assets | 248 | 138 | 248 | 138 | 122 | ||||||
GERMANY | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 478 | 513 | 473 | ||||||||
Long-Lived Assets | 131 | 133 | 131 | 133 | 149 | ||||||
Other Europe [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 942 | 1,000 | 919 | ||||||||
Long-Lived Assets | 265 | 241 | 265 | 241 | 211 | ||||||
Europe [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 2,606 | 2,484 | 2,154 | ||||||||
Long-Lived Assets | 644 | 512 | 644 | 512 | 482 | ||||||
South America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 509 | 546 | 500 | ||||||||
Long-Lived Assets | 126 | 129 | 126 | 129 | 153 | ||||||
Asia Pacific [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales | 1,032 | 1,007 | 867 | ||||||||
Long-Lived Assets | $ 418 | $ 262 | $ 418 | $ 262 | $ 262 |
Equity Affiliates - Additional
Equity Affiliates - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Equity Method Investments [Line Items] | |||
Dividends received from equity affiliates | $ 21 | $ 20 | $ 16 |
Equity method investments | 180 | ||
Equity method investment carrying amount over the book value | 22 | ||
Goodwill [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment carrying amount over the book value | 19 | ||
Minimum [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investments | $ 5 | ||
Minimum [Member] | Other Than Goodwill [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Estimated useful life | 5 years | ||
Maximum [Member] | Other Than Goodwill [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Estimated useful life | 45 years |
Equity Affiliates - Principal
Equity Affiliates - Principal Components of Investments in Affiliates (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Schedule of Equity Method Investments [Line Items] | ||
Investment | $ 180 | |
Investment in affiliates carried at cost | 2 | |
Investment in affiliates | $ 182 | $ 208 |
Dongfeng Dana Axle Co., Ltd. [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership Percentage | 50.00% | |
Investment | $ 97 | |
Bendix Spicer Foundation Brake, LLC [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership Percentage | 20.00% | |
Investment | $ 54 | |
Axles India Limited [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership Percentage | 48.00% | |
Investment | $ 10 | |
Ashwoods Innovations Ltd. [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership Percentage | 63.00% | |
Investment | $ 8 | |
Taiway Ltd. [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Ownership Percentage | 28.00% | |
Investment | $ 5 | |
All others as a group [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Investment | $ 6 |
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) - Quarterly Financial Results (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 1,987 | $ 2,164 | $ 2,306 | $ 2,163 | $ 1,973 | $ 1,978 | $ 2,054 | $ 2,138 | $ 8,620 | $ 8,143 | $ 7,209 |
Gross margin | 223 | 282 | 326 | 300 | 256 | 286 | 308 | 307 | |||
Net income (loss) | 86 | 112 | (66) | 101 | 106 | 96 | 127 | 111 | 233 | 440 | 116 |
Net income (loss) attributable to parent company | $ 85 | $ 111 | $ (68) | $ 98 | $ 100 | $ 95 | $ 124 | $ 108 | $ 226 | $ 427 | $ 111 |
Net income (loss) per share available to parent company stockholders | |||||||||||
Basic | $ 0.59 | $ 0.77 | $ (0.47) | $ 0.68 | $ 0.69 | $ 0.66 | $ 0.85 | $ 0.74 | $ 1.57 | $ 2.94 | $ 0.72 |
Diluted | $ 0.58 | $ 0.77 | $ (0.47) | $ 0.68 | $ 0.69 | $ 0.65 | $ 0.85 | $ 0.73 | $ 1.56 | $ 2.91 | $ 0.71 |
Quarterly Results (Unaudited)_2
Quarterly Results (Unaudited) - Additional Information (Details) - USD ($) $ in Millions | Apr. 04, 2017 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||
Net income tax benefits | $ 22 | $ 87 | $ 16 | $ 39 | $ (6) | $ 44 | |||
Pension settlement charges | $ 258 | 259 | |||||||
Impairment of goodwill and indefinite-lived intangible asset | $ 6 | $ 20 | 6 | 20 | |||||
Loss on extinguishment of debt | $ 6 | $ 9 | $ 9 | $ 19 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts and Reserves - Amounts Deducted From Assets in the Balance Sheets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts Receivable - Allowance for Doubtful Accounts [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of period | $ 9 | $ 8 | $ 6 |
Amounts charged or credited to income | 2 | 3 | 2 |
Allowance utilized | 0 | 0 | 0 |
Adjustments arising from change in currency exchange rates and other items | (2) | (2) | 0 |
Balance at end of period | 9 | 9 | 8 |
Inventory Reserves [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of period | 51 | 53 | 51 |
Amounts charged or credited to income | 25 | 15 | 10 |
Allowance utilized | (16) | (11) | (11) |
Adjustments arising from change in currency exchange rates and other items | 4 | (6) | 3 |
Balance at end of period | 64 | 51 | 53 |
Deferred Tax Assets - Valuation Allowance [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at beginning of period | 281 | 301 | 285 |
Amounts charged or credited to income | (102) | (31) | 29 |
Allowance utilized | 0 | 0 | 0 |
Adjustments arising from change in currency exchange rates and other items | 11 | 11 | (13) |
Balance at end of period | $ 190 | $ 281 | $ 301 |