XML 33 R14.htm IDEA: XBRL DOCUMENT
v3.22.4

Other Assets | 12 Months Ended
--- | ---
Dec. 31, 2022
Other Assets [Abstract] |
Other Assets | Other Assets Other current assets are comprised of the following components:
| December 31,
(In millions) | 2022 |  | 2021
Recoverable taxes | $ | 55 |  |  | $ | 40 |
Joint venture receivables | 49 |  |  | 48 |
Contractually reimbursable engineering costs | 35 |  |  | 34 |
Prepaid assets and deposits | 18 |  |  | 21 |
China bank notes | 6 |  |  | 3 |
Royalty agreements | 1 |  |  | 4 |
Other | 3 |  |  | 8 |
| $ | 167 |  |  | $ | 158 |
The Company receives bank notes from certain customers in China to settle trade accounts receivable. The collection of such bank notes are included in operating cash flows based on the substance of the underlying transactions, which are operating in nature. The Company redeemed $160 million and $149 million of China bank notes during the years ended December 31, 2022 and 2021, respectively. Remaining amounts outstanding at third-party institutions relate to sold bank notes and will mature by June 30, 2023. During 2022, the Company terminated derivative financial instruments and received approximately $9 million of proceeds upon settlement in conjunction with the refinancing of the Company's Term Loan. See Note 10, "Debt" and Note 16, "Fair Value Measurements" for further details. Other non-current assets are comprised of the following components:
| December 31,
(In millions) | 2022 |  | 2021
Deferred tax assets | $ | 42 |  |  | $ | 47 |
Contractually reimbursable engineering costs | 25 |  |  | 34 |
Recoverable taxes | 11 |  |  | 9 |
Pension assets | 4 |  |  | 7 |
Royalty agreements | — |  |  | 2 |
Other | 22 |  |  | 12 |
| $ | 104 |  |  | $ | 111 |
Current and non-current contractually reimbursable engineering costs are related to pre-production design and development costs incurred pursuant to long-term supply arrangements that are contractually guaranteed for reimbursement by customers. The Company expects to receive cash reimbursement payments of approximately $35 million in 2023, $19 million in 2024, $4 million in 2025, $1 million in 2026 and less than $1 million in 2027 and beyond.

X
- References No definition available. + Details
Name: | us-gaap_OtherAssetsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_OtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration