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Investments
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments
9.  INVESTMENTS
 
     
2024
              2023  
Equity method investments
[a]
   
$
794
 
       $ 987  
Public and private equity investments
[b]
   
 
206
 
         230  
Warrants
   
 
14
 
         34  
Debt investments
   
 
31
 
         22  
    
$
    1,045
 
             $     1,273  
 
[a]
The ownership percentages and carrying values of the Company’s principal equity method investments at December 31 were as follows [in millions, except percentages]:
 
            
 
   
2024
             
2023
  
LG Magna
e-Powertrain
Co., Ltd.
[i]
   
 
49.0
% 
     
$
      298
 
       $       405  
Litens Automotive Partnership
[ii]
   
 
76.7
% 
     
$
262
 
       $ 332  
Hubei HAPM Magna Seating Systems Co., Ltd.
   
 
49.9
% 
     
$
140
 
       $ 129  
BAIC BluePark Magna Automobile Co., Ltd.
   
 
49.0
% 
       
$
99
 
             $ 95  
 
  [i]
LG Magna
e-Powertrain
[“LGM”] is a variable interest entity [‘‘VIE’’] and depends on the Company and LG Electronics for any additional cash needs. The Company cannot make key operating decisions considered the most significant to the VIE, and is therefore not the primary beneficiary. The Company’s known maximum exposure to loss approximated the carrying value of its investment balance as at December 31, 2024.
 
 
  [ii]
The Company accounts for its investments under the equity method of accounting as a result of significant participating rights that prevent control.
 
[b]
Cumulative unrealized gains and losses on equity securities held as at December 31, 2024 were $29 million and $18 million [$28 million and $323 million as at December 31, 2023], respectively.
A summary of the total financial results, as reported by the Company’s equity method investees, in the aggregate, at December 31 was as follows:
Summarized Balance Sheets
     
2024
             2023  
Current assets
   
$
    2,543
 
            $     2,516  
Non-current
assets
   
$
1,561
 
            $ 1,884  
Current liabilities
   
$
1,870
 
            $ 1,702  
Long-term liabilities
   
$
682
  
            $ 876   
Summarized Income Statements
     
2024
             2023  
Sales
   
$
    5,300
 
      $     5,008  
Cost of goods sold & expenses
   
 
5,184
 
              4,863  
Net income
   
$
116
  
            $ 145   
Sales to equity method investees were approximately $155 million and $83 million for the years ended December 31, 2024 and 2023, respectively.