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ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Preliminary Estimated Fair Values of the Assets Acquired and Liabilities Assumed at the Date of the Acquisition | 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 | 26 |
Other current assets | 1 |
Property, plant and equipment | 43 |
Goodwill | 106 |
Other intangible assets | 89 |
Other noncurrent assets | 1 |
Total assets acquired | 302 |
Liabilities assumed |
Current liabilities | 16 |
Noncurrent liabilities | 41 |
Total liabilities assumed | 57 |
Net assets acquired | $ | 245 |

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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 + Details
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