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OTHER OPERATING EXPENSE, NET

3 Months Ended

Mar. 31, 2021

Other Income and Expenses [Abstract]

OTHER OPERATING EXPENSE, NET

OTHER OPERATING EXPENSE, NET

Items included in Other operating expense, net consist of:

			Three Months Ended March 31,
(in millions)			2021						2020
Restructuring expense (Note 5)			$	30					$	15
Merger, acquisition and divestiture expense			13						21
Net gain on insurance recovery for property damage			(2)						—
Other income, net			(3)						—
Other operating expense, net			$	38					$	36

Merger, acquisition and divestiture expense: During the three months ended March 31, 2021 and 2020, the Company recorded merger, acquisition and divestiture expense of $13 million and $21 million, respectively. The expense for 2021 primarily related to professional fees for integration and other support associated with the Company’s acquisition of Delphi Technologies completed on October 1, 2020 and professional fees associated with the proposed acquisition of AKASOL. The expense for 2020 primarily related to professional fees associated with the Company’s acquisition of Delphi Technologies.

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- References

No definition available.

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- Definition

The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-URI http://asc.fasb.org/topic&trid=2122503

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 610
-URI http://asc.fasb.org/topic&trid=49130413

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