Garrett Motion Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
GTX$20.68-0.3%Stored close · as of Nov 10, 2026
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Item 15. Exhibits and Financial Statement Schedules
(a) Documents filed as part of this report:
- The following financial statements are included in Item 8 “Financial Statements and Supplementary Data” herein.
| Report of Independent Registered Accounting Firm | 48 |
|---|---|
| Consolidated Statements of Operations for the Years Ended December 31, 2023, 2022 and 2021 | 52 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2023, 2022 and 2021 | 53 |
| Consolidated Balance Sheets as of December 31, 2023 and 2022 | 54 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2023, 2022 and 2021 | 55 |
| Consolidated Statements of Equity (Deficit) for the Years Ended December 2023, 2022 and 2021 | 56 |
| Notes to the Consolidated Financial Statements | 57 |
- The following financial statement schedule should be considered in conjunction with our consolidated financial statements. All other schedules are omitted because they are not applicable, not required or the required information is shown in the consolidated financial statements or notes thereto.
Schedule II-Valuation and Qualifying Accounts
| For and as of the year ending: | Balance at Beginning of Period | Additions Charged to Costs and Expenses | Deductions | Foreign Exchange Translation Adjustment | Balance at End of Period |
|---|---|---|---|---|---|
| (Dollars in millions) | |||||
| Allowance for expected credit losses | $9 | $2 | $(5) | $— | $6 |
| Inventory reserves | 31 | 13 | (4) | 1 | 41 |
| Tax valuation allowance | 31 | 20 | (1) | 2 | 52 |
| Allowance for expected credit losses | $5 | $4 | $— | $— | $9 |
| Inventory reserves | 29 | 7 | (3) | (2) | 31 |
| Tax valuation allowance | 32 | — | (1) | — | 31 |
| Allowance for expected credit losses | $13 | $3 | $(11) | $— | $5 |
| Inventory reserves | 41 | 5 | (15) | (2) | 29 |
| Tax valuation allowance | 34 | 5 | (4) | (3) | 32 |
- The exhibits to this report are listed below
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| ExhibitNumber · Description · Form · File No. · Exhibit · FilingDate · Filed/Furnished Herewith | |||||
| 2.1 | Amended Debtors’ Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code, dated April 26, 2021 | 8-K | 001-38636 | 2.1 | 4/27/2021 |
| 3.1 | Second Amended and Restated Certificate of Incorporation of Garrett Motion Inc., dated April 30, 2021 | 8-K | 001-38636 | 3.1 | 4/30/2021 |
| 3.2 | Amended and Restated Certificate of Designations of Series A Cumulative Convertible Preferred Stock of Garrett Motion Inc. | 8-K | 001-38636 | 3.1 | 4/28/2022 | |
| 3.3 | Amendment No. 2 to Certificate of Designation of Series A Cumulative Convertible Preferred Stock of Garrett Motion Inc. | DEF14C | 001-38636 | 2/9/2022 | ||
| 3.4 | Amended and Restated Certificate of Designation of Series A Cumulative Convertible Preferred Stock of Garrett Motion Inc. (redline version) | DEF 14C | 001-38636 | 2/9/2022 | ||
| 3.5 | Certificate of Elimination with respect to Series A Preferred Stock | 10-Q | 001-38636 | 3.4 | 7/27/2023 | |
| 3.6 | Certificate of Elimination with respect to Series B Preferred Stock | 10-Q | 001-38636 | 3.5 | 7/27/2023 | |
| 3.7 | Fourth Amended and Restated By-laws of Garrett Motion Inc. | 8-K | 001-38636 | 5.0 | 12/7/2023 | |
| 4.1 | Description of Capital Stock | * | ||||
| 10.1† | Offer Letter for Olivier Rabiller, dated May 2, 2018 | 10-12B | 001-38636 | 10.1 | 8/23/2018 | |
| 10.2† | Offer Letter for Thierry Mabru, dated June 1, 2018 | 10-12B | 001-38636 | 10.4 | 8/23/2018 | |
| 10.3† | Offer Letter for Craig Balis, dated June 1, 2018 | 10-12B | 001-38636 | 10.5 | 8/23/2018 | |
| 10.4† | Employment Contract, dated May 29, 2020, between Garrett Motion Sàrl, Garrett Motion Inc. and Sean Deason | 10-Q | 001-38636 | 10.1 | 7/30/2020 | |
| 10.5† | Offer Letter for Jérôme Maironi, dated June 1, 2018 | 10-Q | 001-38636 | 10.1 | 5/11/2020 | |
| 10.6† | Non-Employee Director Compensation Program | 10-K | 001-38636 | 10.20 | 2/27/2020 | |
| 10.7† | Severance Pay Plan for Designated Executive Employees of Garrett Motion Inc. | 10-K | 001-38636 | 10.21 | 2/27/2020 | |
| 10.8† | Form of Continuity Award Agreement | 8-K | 001-38636 | 10.1 | 6/19/2020 | |
| 10.9† | Garrett Motion Inc. 2021 Long-Term Incentive Plan | 8-K | 001-38636 | 10.1 | 5/28/2021 | |
| 10.10† | Form of Garrett Motion Inc. 2021 Long-Term Incentive Plan Restricted Stock Unit Award Agreement | 8-K | 001-38636 | 10.2 | 5/28/2021 | |
| 10.11† | Form of Garrett Motion Inc. 2021 Long-Term Incentive Plan Restricted Stock Unit Award Agreement 2021 Performance-Based (Stock Price) | 8-K | 001-38636 | 10.3 | 5/28/2021 | |
| 10.12† | Form of Garrett Motion Inc. 2021 Long-Term Incentive Plan Restricted Stock Unit Award Agreement 2021 Performance-Based (EBITDA) | 8-K | 001-38636 | 10.4 | 5/28/2021 | |
| 10.13† | Form of Garrett Motion Inc. 2021 Long-Term Incentive Plan Non-Employee Director Restricted Stock Unit Award Agreement | 8-K | 001-38636 | 10.5 | 5/28/2021 | |
| 10.14† | 2023 Garrett Motion Inc. Severance Plan for Designated Officers | 10-Q | 001-38636 | 10.4 | 7/27/2023 | |
| 10.15 | Credit Agreement, dated April 30, 2021, among Garrett Motion Inc., Garrett LX I S.à r.l., Garrett Motion Holdings, Inc., Garrett Motion Sàrl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent | 8-K | 001-38636 | 10.1 | 4/30/2021 | |
| 10.16 | Amendment No. 1, dated January 11, 2022, to the Credit Agreement, dated April 30, 2021, among Garrett Motion Inc., Garrett LX I S.à r.l., Garrett Motion Holdings, Inc., Garrett Motion Sàrl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent | 10-K | 001-38636 | 10.31 | 2/14/2022 | |
| 10.17 | Amendment No. 2, dated March 23, 2022, to the Credit Agreement, dated April 30, 2021, among Garrett Motion Inc., Garrett LX I S.à r.l., Garrett Motion Holdings, Inc., Garrett Motion Sàrl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent | POSAM | 333-256659 | 10.1 | 6/9/2022 | |
| 10.18 | Amendment No. 3, dated April 27, 2023, to the Credit Agreement, dated April 30, 2021, among Garrett Motion Inc., Garrett LX I S.à r.l., Garrett Motion Holdings, Inc., Garrett Motion Sàrl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent. | 8-K | 001-38636 | 10.1 | 5/01/2023 | |
| 10.19 | Series A Investor Rights Agreement, dated as of April 30, 2021, among Garrett Motion Inc. and the investors named therein | 8-K | 001-38636 | 10.2 | 4/30/2021 | |
| 10.20 | Registration Rights Agreement, dated as of April 30, 2021, among Garrett Motion Inc. and the holders party thereto | 8-K | 001-38636 | 10.3 | 4/30/2021 | |
| 10.21 | Transaction Agreement, dated April 12, 2023, by and among Garrett Motion Inc. and Centerbridge Credit Partners Master, L.P. and Centerbridge Special Credit Partners III-Flex, L.P. | 8-K | 001-38636 | 10.1 | 4/14/2023 | |
| 10.22 | Transaction Agreement, dated April 12, 2023, by and among Garrett Motion Inc. and Oaktree Value Opportunities Fund Holdings, L.P., OCM Opps GTM Holdings, LLC, Oaktree Phoenix Investment Fund LP and Oaktree Opportunities Fund Xb Holdings (Delaware) L.P. | 8-K | 001-38636 | 10.2 | 4/14/2023 | |
| 21.1 | List of Subsidiaries | * | ||||
| 23.1 | Consent of Independent Registered Public Accounting Firm | * | ||||
| 31.1 | Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | * | ||||
| 31.2 | Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | * | ||||
| 32.1 | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | ** | ||||
| 32.2 | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. | ** | ||||
| 97 | Garrett Motion, Inc. Clawback Policy | * | ||||
| 99.1 | Order of the Bankruptcy Court, dated April 26, 2021, confirming the Amended Debtors’ Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code | 8-K | 001-38636 | 2.1 | 4/27/2021 | |
| 101.INS | Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document | * | ||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document | * | ||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | * |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | * |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | * |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | * |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | * |
- Filed herewith
** Furnished herewith
† Management contract or compensation plan or arrangement
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