v3.25.1
COMMITMENTS AND CONTINGENCIES
3 Months Ended
Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Legal Proceedings and Loss Contingencies

The Company records an accrued liability for loss contingencies that it determines are probable and estimable. Loss contingencies that the Company evaluates primarily include potential costs related to supply contracts, which can be, for example, a result of changing demand forecasts or design modifications, in addition to potential payments resulting from legal proceedings, such as commercial litigation including product liability claims or employment-related litigation, and other events. Although the Company believes it has valid defenses with respect to legal proceedings, as of December 31, 2024 and March 31, 2025, the Company recorded approximately $110 million and $115 million, respectively, for estimated contingent losses in “Accrued liabilities” on the Condensed Consolidated Balance Sheets. As of March 31, 2025, the Company estimates it is reasonably possible that losses in excess of the accrued liability could occur, up to approximately $210 million, or an excess of $95 million over the accrued liability recorded. The Company expects the majority of loss contingencies comprising the accrued liability to be resolved within the next 12 to 24 months.