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RELATED PARTY INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2022
Related Party Transactions [Abstract] |
Summary of Related Party Transactions | These transactions with Stellantis are reflected in the Company’s condensed consolidated financial statements as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
| (in millions)
Net sales | $ | — |  |  | $ | — |
Cost of goods sold | $ | 5 |  |  | $ | 8 |
Selling, general and administrative expenses | $ | 13 |  |  | $ | 13 |
| March 31, 2022 |  | December 31, 2021
| (in millions)
Trade receivables | $ | — |  |  | $ | — |
Trade payables | $ | 18 |  |  | $ | 20 |
The transactions with Iveco Group post-Demerger are reflected in the Condensed Combined Financial Statements as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
| (in millions)
Net sales | $ | — |  |  | $ | 5 |
Cost of goods sold | $ | 260 |  |  | $ | 231 |
| March 31, 2022 |  | December 31, 2021
| (in millions)
Trade receivables | $ | 18 |  |  | $ | 87 |
Trade payables | $ | 194 |  |  | $ | 181 |
These transactions primarily affected revenues, finance and interest income, cost of goods sold, trade receivables and payables and are presented as follows:
| Three Months Ended March 31,
| 2022 |  | 2021
| (in millions)
Net sales | $ | 126 |  |  | $ | 113 |
Cost of goods sold | $ | 121 |  |  | $ | 107 |
| March 31, 2022 |  | December 31, 2021
| (in millions)
Trade receivables | $ | — |  |  | $ | — |
Trade payables | $ | 63 |  |  | $ | 101 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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