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Other Expense, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other Expense, Net For the years ended December 31, 2024 and 2023, Other expense, net consists of:
 
     
2024
    
 
    2023  
Impacts related to Fisker Inc. [“Fisker”] [a]
   
$
198
 
      $ 110  
Restructuring activities [b]
   
 
187
 
        148  
Long-lived asset impairments [c]
   
 
79
 
        —  
Investments [d]
   
 
9
 
        91  
Gain on business combination [e]
   
 
(9
) 
        —  
Veoneer Active Safety Business transaction costs [f]
   
 
—
 
        23  
Operations in Russia [g]
   
 
—
 
          16  
Other expense, net
   
$
   464
 
        $    388  
Summary of Impacts Related to Fisker
[a]
Impacts related to Fisker
 
     
2024
           2023  
Impairment and supplier related settlements
   
$
330
 
      $ —  
Fisker warrants
   
 
33
 
        110  
Recognition of deferred revenue
   
 
(196
) 
        —  
Restructuring
   
 
31
 
          —  
    
$
  198
 
        $   110  
Summary of net asset impairments and supplier settlements
The following table summarizes the net asset impairments and supplier settlements for the year ended December 31, 2024, by segment:
 
      Body
Exteriors &
Structures		     Power &
Vision		     Seating
Systems		     Complete
Vehicles		     Total  
Accounts receivable
     $    3      $    4      $    2      $ 14      $ 23  
Inventories
      5       52       8       2       67  
Other assets, net
      —       54       —       90       144  
Fixed assets, net
      1       49       5       3       58  
Other accrued liabilities
      (5 )      —       —       (10 )      (15 ) 
Operating lease
right-of-use
assets
      1       —       1       —       2  
  
 
5
 
  
 
159
 
  
 
16
 
  
 
99
 
  
 
279
 
Supplier settlements
      4       41       6       —       51  
    
 $
9
  
  
 $
200
  
  
 $
22
  
  
 $
   99
  
  
 $
   330
 
Summary of Restructuring Charges Related to Significant Plant
[b]
Restructuring activities
The Company recorded restructuring charges related to significant plant closures and consolidations primarily in Europe and to a lesser extent in North America.
 
     
2024
     2023  
Power & Vision
   
$
104
 
   $ 117  
Complete Vehicles
   
 
55
 
     —  
Body Exteriors & Structures
   
 
28
 
     31  
Other expense, net
   
 
187
 
     148  
Tax effect
   
 
(28
) 
     (24 ) 
Net loss attributable to Magna
   
$
   159
   
   $    124  
Summary of Net Losses or Gains on Investments
[d]
Investments
 
     
2024
     2023  
Non-cash
impairment charge
[i]
   
$
13
 
   $ 90  
Revaluation of public and private equity investments
   
 
13
 
     1  
Revaluation of public company warrants
[ii]
   
 
(17
) 
     —  
Other expense, net
   
 
9
 
     91  
Tax effect
   
 
3
 
     (1 ) 
Net loss attributable to Magna
   
$
   12
   
   $     90  
 
  [i]
The
non-cash
impairment charge relates to the impairment of a private equity investment.
  [ii]
The revaluation of Fisker warrants previously presented within Revaluation of public company warrants has been reclassified to Impacts related to Fisker.