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Note 17 - Revenue From Contracts With Customers | 6 Months Ended
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Jun. 30, 2020
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | Note 17. Revenue from Contracts with Customers We generate revenue from selling production parts to original equipment manufacturers (OEMs) and service parts to OEMs and aftermarket customers. While we provide production and service parts to certain OEMs under awarded multi-year programs, these multi-year programs do not contain any commitment to volume by the customer. As such, individual customer releases or purchase orders represent the contract with the customer. Our customer contracts do not provide us with an enforceable right to payment for performance completed to date throughout the contract term. As such, we recognize part sales revenue at the point in time when the parts are shipped, and risk of loss has transferred to the customer. We have elected to continue to include shipping and handling fees billed to customers in revenue, while including costs of shipping and handling in costs of sales. Taxes collected from customers are excluded from revenues and credited directly to obligations to the appropriate government agencies. Payment terms with our customers are established based on industry and regional practices and generally do not exceed 180 days. Certain of our customer contracts include rebate incentives. We estimate expected rebates and accrue the corresponding refund liability, as a reduction of revenue, at the time covered product is sold to the customer based on anticipated customer purchases during the rebate period and contractual rebate percentages. Refund liabilities are included in other accrued liabilities on our consolidated balance sheet. We provide standard fitness for use warranties on the products we sell, accruing for estimated costs related to product warranty obligations at time of sale. See Note 14 for additional information. Contract liabilities are primarily comprised of cash deposits made by customers with cash in advance payment terms. Generally, our contract liabilities turn over frequently given our relatively short production cycles. Contract liabilities were $26 and $23 at June 30, 2020 and December 31, 2019. Contract liabilities are included in other accrued liabilities on our consolidated balance sheet. Disaggregation of revenue — The following table disaggregates revenue for each of our operating segments by geographical market:
Three Months Ended June 30, 2020 |  | Light Vehicle |  |  | Commercial Vehicle |  |  | Off-Highway |  |  | Power Technologies |  |  | Total |
North America |  | $ | 238 |  |  | $ | 121 |  |  | $ | 58 |  |  | $ | 62 |  |  | $ | 479 |
Europe |  |  | 37 |  |  |  | 37 |  |  |  | 259 |  |  |  | 64 |  |  |  | 397 |
South America |  |  | 10 |  |  |  | 25 |  |  |  | 6 |  |  |  | 2 |  |  |  | 43 |
Asia Pacific |  |  | 52 |  |  |  | 17 |  |  |  | 78 |  |  |  | 12 |  |  |  | 159 |
Total |  | $ | 337 |  |  | $ | 200 |  |  | $ | 401 |  |  | $ | 140 |  |  | $ | 1,078 |
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 824 |  |  | $ | 320 |  |  | $ | 132 |  |  | $ | 185 |  |  | $ | 1,461 |
Europe |  |  | 139 |  |  |  | 86 |  |  |  | 608 |  |  |  | 178 |  |  |  | 1,011 |
South America |  |  | 40 |  |  |  | 88 |  |  |  | 13 |  |  |  | 7 |  |  |  | 148 |
Asia Pacific |  |  | 142 |  |  |  | 39 |  |  |  | 180 |  |  |  | 23 |  |  |  | 384 |
Total |  | $ | 1,145 |  |  | $ | 533 |  |  | $ | 933 |  |  | $ | 393 |  |  | $ | 3,004 |
Three Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 683 |  |  | $ | 254 |  |  | $ | 98 |  |  | $ | 139 |  |  | $ | 1,174 |
Europe |  |  | 85 |  |  |  | 65 |  |  |  | 455 |  |  |  | 108 |  |  |  | 713 |
South America |  |  | 38 |  |  |  | 85 |  |  |  | 11 |  |  |  | 6 |  |  |  | 140 |
Asia Pacific |  |  | 121 |  |  |  | 33 |  |  |  | 110 |  |  |  | 15 |  |  |  | 279 |
Total |  | $ | 927 |  |  | $ | 437 |  |  | $ | 674 |  |  | $ | 268 |  |  | $ | 2,306 |
Six Months Ended June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,343 |  |  | $ | 507 |  |  | $ | 156 |  |  | $ | 280 |  |  | $ | 2,286 |
Europe |  |  | 176 |  |  |  | 132 |  |  |  | 862 |  |  |  | 221 |  |  |  | 1,391 |
South America |  |  | 71 |  |  |  | 160 |  |  |  | 20 |  |  |  | 11 |  |  |  | 262 |
Asia Pacific |  |  | 243 |  |  |  | 69 |  |  |  | 188 |  |  |  | 30 |  |  |  | 530 |
Total |  | $ | 1,833 |  |  | $ | 868 |  |  | $ | 1,226 |  |  | $ | 542 |  |  | $ | 4,469 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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