| Schedule of Net Sales and Total Assets by Reporting Segment |
The following tables show segment information and Segment Adjusted Operating Income (Loss) for the Company’s reportable segments:
Net Sales by Reportable Segment | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2023 | | Nine Months Ended September 30, 2023 | | (in millions) | Customers | | Inter-segment | | Net | | Customers | | Inter-segment | | Net | | Air Management | $ | 1,922 | | | $ | 23 | | | $ | 1,945 | | | $ | 5,888 | | | $ | 63 | | | $ | 5,951 | | | Drivetrain & Battery Systems | 1,144 | | | 1 | | | 1,145 | | | 3,216 | | | 2 | | | 3,218 | | | ePropulsion | 556 | | | 15 | | | 571 | | | 1,572 | | | 52 | | | 1,624 | | | Inter-segment eliminations | — | | | (39) | | | (39) | | | — | | | (117) | | | (117) | | | Net sales | $ | 3,622 | | | $ | — | | | $ | 3,622 | | | $ | 10,676 | | | $ | — | | | $ | 10,676 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2022 | | Nine Months Ended September 30, 2022 | | (in millions) | Customers | | Inter-segment | | Net | | Customers | | Inter-segment | | Net | | Air Management | $ | 1,827 | | | $ | 16 | | | $ | 1,843 | | | $ | 5,283 | | | $ | 45 | | | $ | 5,328 | | | Drivetrain & Battery Systems | 954 | | | — | | | 954 | | | 2,745 | | | — | | | 2,745 | | | ePropulsion | 445 | | | 44 | | | 489 | | | 1,290 | | | 71 | | | 1,361 | | | Inter-segment eliminations | — | | | (60) | | | (60) | | | — | | | (116) | | | (116) | | | Net sales | $ | 3,226 | | | $ | — | | | $ | 3,226 | | | $ | 9,318 | | | $ | — | | | $ | 9,318 | |
Total Assets of Continuing Operations by Reportable Segment | | | | | | | | | | | | | (in millions) | September 30, 2023 | | December 31, 2022 | | Air Management | $ | 5,559 | | | $ | 5,329 | | | Drivetrain & Battery Systems | 3,954 | | | 3,963 | | | ePropulsion | 2,847 | | | 2,349 | | | Total | 12,360 | | | 11,641 | | | Corporate | 1,744 | | | 1,691 | | | Consolidated | $ | 14,104 | | | $ | 13,332 | |
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| Schedule of Segment Earnings Before Interest and Income Taxes |
Segment Adjusted Operating Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (in millions) | 2023 | | 2022 | | 2023 | | 2022 | | Air Management | $ | 294 | | | $ | 291 | | | $ | 884 | | | $ | 793 | | | Drivetrain & Battery Systems | 147 | | | 103 | | | 400 | | | 330 | | | ePropulsion | (20) | | | (33) | | | (74) | | | (89) | | | Segment Adjusted Operating Income | 421 | | | 361 | | | 1,210 | | | 1,034 | | | Corporate, including stock-based compensation | 72 | | | 61 | | | 194 | | | 198 | | | Restructuring expense (Note 5) | 56 | | | 5 | | | 68 | | | 42 | | | Intangible asset amortization expense | 17 | | | 16 | | | 51 | | | 52 | | | Merger and acquisition expense, net | 3 | | | 5 | | | 22 | | | 13 | | | Service and lease agreement termination | — | | | — | | | 9 | | | — | | | Loss (gain) on sale of business | — | | | 9 | | | (5) | | | (15) | | | Gain on sale of assets | (7) | | | — | | | (13) | | | — | | | | | | | | | | | Other non-comparable items | 8 | | | — | | | 5 | | | — | | | Equity in affiliates’ earnings, net of tax | (10) | | | (5) | | | (23) | | | (21) | | | Realized and unrealized loss (gain) on debt and equity securities | 60 | | | (1) | | | 129 | | | 27 | | | Interest (income) expense, net | (19) | | | 12 | | | 3 | | | 41 | | | Other postretirement expense (income) | 3 | | | (1) | | | 8 | | | (2) | | | Earnings from continuing operations before income taxes and noncontrolling interest | 238 | | | 260 | | | 762 | | | 699 | | | Provision for income taxes | 133 | | | 68 | | | 230 | | | 177 | | | Net earnings from continuing operations | $ | 105 | | | $ | 192 | | | $ | 532 | | | $ | 522 | | | | | | | | | | | | | | | | | | | | | | | | | |
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