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Note 2 - Disposal Group Held for Sale | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 2. Disposal Group Held for Sale In February 2024, we entered into a definitive agreement to sell our European hydraulics business to HPIH S.à r.l. for approximately $38. The sale price is subject to adjustment based on net working capital and net financial position balances as of the closing date. The results of operations of the European hydraulics business are reported within our Off-Highway operating segment. We classified the disposal group as held for sale, recognizing a $30 loss to adjust the carrying value of net assets to fair value less estimated costs to sell. The sale is expected to close during the second half of 2024. The carrying amounts of the major classes of assets and liabilities of our European hydraulics business are as follows:
|  | June 30, |
|  | 2024 |
Accounts receivable - Trade |  | $ | 17 |
Accounts receivable - Other |  |  | 1 |
Inventories |  |  | 43 |
Current assets of disposal group held for sale |  | $ | 61 |
Accounts payable |  | $ | 13 |
Accrued payroll and employee benefits |  |  | 4 |
Current portion of operating lease liabilities |  |  | 1 |
Other accrued liabilities |  |  | 3 |
Current liabilities of disposal group held for sale |  | $ | 21 |
Noncurrent operating lease liabilities |  | $ | 1 |
Pension and postretirement obligations |  |  | 3 |
Noncurrent liabilities of disposal group held for sale |  | $ | 4 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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