v3.24.1.u1
REVENUE RECOGNITION (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Sales
The following table provides disaggregated sales by lines of businesses, geographic destination, market channel or end market, as applicable, for the Company's operating segments:
Three months ended March 31
(In millions)20242023
Electrical Americas
Products$733 $716 
Systems1,957 1,578 
Total$2,690 $2,294 
Electrical Global
Products$844 $882 
Systems656 618 
Total$1,500 $1,500 
Aerospace
Original Equipment Manufacturers$355 $314 
Aftermarket291 264 
Industrial and Other225 225 
Total$871 $803 
Vehicle
Commercial$435 $448 
Passenger and Light Duty290 291 
Total$724 $739 
eMobility$158 $147 
Total net sales$5,943 $5,483 
Schedule of Changes in Deferred Revenue Liabilities
Changes in the deferred revenue liabilities are as follows:
(In millions)Deferred Revenue
Balance at January 1, 2024
$626 
Customer deposits and billings657 
Revenue recognized in the period(612)
Translation(5)
Balance at March 31, 2024
$666 
(In millions)Deferred Revenue
Balance at January 1, 2023
$508 
Customer deposits and billings514 
Revenue recognized in the period(421)
Translation4 
Balance at March 31, 2023
$605