Meritor Acquisition and 2022 Financial Results
Table of Contents
Unfavorable foreign currency fluctuations, primarily in the Euro, Indian rupee and Chinese renminbi.
Segment EBITDA
Components segment EBITDA increased $166 million, mainly due to favorable pricing, improved mix and increased volumes (including axles and brakes since the completion
of the Meritor acquisition), partially offset by higher material costs and Meritor acquisition and integration costs.
Distribution Segment Results
Financial data for the Distribution segment was as follows:
In millions
External sales
Intersegment sales
Total sales
Research, development and engineering expenses
Equity, royalty and interest income from investees
Interest income
Russian suspension costs (¹)
Segment EBITDA
Segment EBITDA as a percentage of total sales
"NM" not meaningful information
Favorable/(Unfavorable)
Years ended December 31,
2022 vs. 2021
2021 vs. 2020
2022
2021
2020
Amount
Percent
Amount
Percent
$
8,901
$
7,742 $
7,110
$ 1,159
15 % $ 632
%
28
30
26
(2)
(7)%
4
15 %
8,929
7,772
7,136
1,157
15 %
636
9 %
52
48
31
(4)
(8)%
(17)
(55)%
77
63
62
14
22 %
1
2 %
16
7
4
9
NM
3
75 %
54
54
NM
― %
888
731
665
157
21 %
66
10 %
Percentage Points
Percentage Points
9.9
%
9.4
%
9.3
%
0.5
0.1
(1) See NOTE 23, "RUSSIAN OPERATIONS," to our Consolidated Financial Statements for additional information.
Sales for our Distribution segment by region were as follows:
In millions
North America
Asia Pacific
Europe
China
Commonwealth of Independent States
Africa and Middle East
India
Latin America
Total sales
Favorable/(Unfavorable)
Years ended December 31,
2022 vs. 2021
2021 vs. 2020
2022
2021
2020
Amount
Percent
Amount
$
5,948 $
4,912 $
4,696
$
1,036
21 % $
216
Percent
5 %
1,016
906
805
110
12 %
101
13 %
720
650
598
70
11 %
52
9 %
355
330
346
25
8 %
(16)
(5)%
232
335
194
(103)
(31)%
141
73 %
228
259
200
(31)
(12)%
59
30 %
220
198
150
22
11 %
48
32 %
210
182
147
28
15 %
35
24 %
$
8,929
$
7,772
$
7,136
$
1,157
15 % $
636
9 %
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