| Product Warranty and Related Liabilities |
Product Warranty and Related Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30, 2024 | | June 30, 2023 | | June 30, 2024 | | June 30, 2023 | | Product Warranty and Related Liabilities | | | | | | | | | Warranty balance at beginning of period | $ | 9,356 | | | $ | 8,482 | | | $ | 9,295 | | | $ | 8,530 | | | Warranties issued and assumed in period – recall campaigns | 390 | | | 313 | | | 656 | | | 549 | | | Warranties issued and assumed in period – product warranty | 888 | | | 566 | | | 1,556 | | | 1,056 | | | Payments | (1,030) | | | (969) | | | (2,054) | | | (2,027) | | | Adjustments to pre-existing warranties | 463 | | | 332 | | | 637 | | | 611 | | | Effect of foreign currency and other | (23) | | | 18 | | | (47) | | | 23 | | | Warranty balance at end of period | 10,043 | | | 8,741 | | | 10,043 | | | 8,741 | | | Less: Supplier recoveries balance at end of period(a) | 646 | | | 343 | | | 646 | | | 343 | | | Warranty balance, net of supplier recoveries at end of period | $ | 9,397 | | | $ | 8,398 | | | $ | 9,397 | | | $ | 8,398 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
__________ (a)The current portion of supplier recoveries is recorded in Accounts and notes receivable, net of allowance and the non-current portion is recorded in Other assets.
| | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2024 | | June 30, 2023 | | June 30, 2024 | | June 30, 2023 | | Product Warranty Expense, Net of Recoveries | | | | | | | | | | Warranties issued and assumed in period | $ | 1,278 | | | $ | 879 | | | $ | 2,211 | | | $ | 1,605 | | | Supplier recoveries accrued in period | (79) | | | 733 | | | (137) | | | 689 | | | | Adjustments and other | 440 | | | 349 | | | 590 | | | 634 | | | Warranty expense, net of supplier recoveries | $ | 1,639 | | | $ | 1,961 | | | $ | 2,664 | | | $ | 2,928 | | |
In the three and six months ended June 30, 2024, we recorded insignificant charges to supplier recoveries and in the three months ended June 30, 2023, we recorded $792 million in charges to supplier recoveries related to a settlement for Chevrolet Bolt recall costs. For estimates related to reasonably possible losses in excess of amounts accrued for recall campaigns, refer to Note 13 to our condensed consolidated financial statements for additional information.
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