DANA INC
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
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Jun 30, 2024 · Filed Jul 31, 2024
Contents
Commitments and Contingencies
Note13. Commitments and Contingencies
Environmental liabilities — Accrued environmental liabilities were $5 and $6 at* June 30, 2024* and* December 31,* 2023. We consider the most probable method of remediation, current laws and regulations and existing technology in estimating our environmental liabilities.
Guarantee of lease obligations— In connection with the divestiture of our Structural Products business in2010, leases covering three U.S. facilities were assigned to a U.S. affiliate of Metalsa. Under the terms of the sale agreement, we will guarantee the affiliate’s performance under the leases, which run through* June 2025,*including approximately $6 of annual payments. In the event of a required payment by Dana as guarantor, we are entitled to pursue full recovery from Metalsa of the amounts paid under the guarantee and to take possession of the leased property.
Other legal matters — We are subject to various pending or threatened legal proceedings arising out of the normal course of business or operations. In view of the inherent difficulty of predicting the outcome of such matters, we cannot state the eventual outcome of these matters. However, based on current knowledge and after consultation with legal counsel, we believe that any liabilities that* mayresult from these proceedings willnot* have a material adverse effect on our liquidity, financial condition or results of operations.
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