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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of 100% of the LKZ assets acquired and liabilities assumed:

In millions
Assets acquired
Cash and cash equivalents						$	30
Accounts receivable						6
Inventory						95
Property, plant and equipment						36
Goodwill						111
Other noncurrent assets						3
Total assets acquired						281
Liabilities assumed
Current liabilities						21
Noncurrent liabilities						3
Total liabilities assumed						24
Net assets acquired						$	257

The following table summarizes the fair value of the L&M Radiator, Inc. assets acquired and liabilities assumed:

In millions
Assets acquired
Cash and cash equivalents						$	16
Accounts receivable						20
Inventory						27
Other current assets						1
Property, plant and equipment						43
Goodwill						104
Other intangible assets						89
Other noncurrent assets						1
Total assets acquired						301
Liabilities assumed
Current liabilities						16
Noncurrent liabilities						40
Total liabilities assumed						56
Net assets acquired						$	245

The following table summarizes the fair value of the Nordco assets acquired and liabilities assumed:

In millions
Assets acquired
Cash and cash equivalents						$	5
Accounts receivable						23
Inventory						34
Other current assets						2
Property, plant and equipment						17
Goodwill						215
Other intangible assets						168
Other noncurrent assets						12
Total assets acquired						476
Liabilities assumed
Current liabilities						20
Noncurrent liabilities						46
Total liabilities assumed						66
Net assets acquired						$	410

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

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