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OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 29, 2020

Segment Reporting [Abstract]

Financial information regarding reportable operating segments

Summarized financial information regarding our reportable operating segments for the three months ended is shown in the table below:

In millions						Engine						Distribution						Components						Power Systems						New Power						Total Segments						Intersegment Eliminations (1)						Total
Three months ended March 29, 2020
External sales						$	1,579					$	1,807					$	1,115					$	500					$	10					$	5,011					$	—					$	5,011
Intersegment sales						579						7						387						384						—						1,357						(1,357)						—
Total sales						2,158						1,814						1,502						884						10						6,368						(1,357)						5,011
Research, development and engineering expenses						80						7						68						54						29						238						—						238
Equity, royalty and interest income from investees						78						21						21						9						—						129						—						129
Interest income (2)						4						1						1						1						—						7						—						7
Segment EBITDA						365						158						279						77						(43)						836						10						846
Depreciation and amortization (3)						53						31						48						32						4						168						—						168
Three months ended March 31, 2019
External sales						$	1,984					$	1,993					$	1,401					$	623					$	3					$	6,004					$	—					$	6,004
Intersegment sales						669						8						460						454						—						1,591						(1,591)						—
Total sales						2,653						2,001						1,861						1,077						3						7,595						(1,591)						6,004
Research, development and engineering expenses						78						7						75						56						21						237						—						237
Equity, royalty and interest income from investees						56						11						10						15						—						92						—						92
Interest income (2)						4						4						2						2						—						12						—						12
Segment EBITDA						438						171						325						138						(29)						1,043						(10)						1,033
Depreciation and amortization (3)						50						29						46						29						2						156						—						156
(1) Includes intersegment sales, intersegment profit in inventory eliminations and unallocated corporate expenses. There were no significant unallocated corporate expenses for the three months ended March 29, 2020 and March 31, 2019.
(2) "Interest income" is managed at the corporate level and allocated to each operating segment.
(3) Depreciation and amortization, as shown on a segment basis, excludes the amortization of debt discount and deferred costs included in the Condensed Consolidated Statements of Net Income as "Interest expense." The amortization of debt discount and deferred costs was less than $1 million and $1 million for the three months ended March 29, 2020 and March 31, 2019, respectively. A portion of depreciation expense is included in "Research, development and engineering expenses."

Reconciliation of segment information

A reconciliation of our segment information to the corresponding amounts in the Condensed Consolidated Statements of Net Income is shown in the table below:

						Three months ended
In millions						March 29, 2020						March 31, 2019
Total EBITDA						$	846					$	1,033
Less:
Depreciation and amortization						168						156
Interest expense						23						32
Income before income taxes						$	655					$	845

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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