Dana Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Dana Inc. has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

DANA INC (DAN) filed a Annual Report (10-K) with the SEC on February 20, 2024. Dana Inc. reported its fiscal year 2023 results on February 20, 2024. The company's fiscal year ends on December 31st. Dana Inc. is incorporated in Delaware and headquartered in Maumee, Ohio. The filing includes financial data for the fiscal years ending December 31, 2023, 2022, and 2021. The company's SIC code is 3714 for Motor Vehicle Parts & Accessories.

Why It Matters

For investors and stakeholders tracking DANA INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Dana Inc.'s financial health, operational performance, and strategic positioning for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial stability, profitability, and future outlook, including details on debt, assets, and income.

Risk Assessment

Risk Level: medium — DANA INC shows moderate risk based on this filing. The company's financial performance and future prospects are subject to market conditions and operational execution, as indicated by the detailed financial statements and risk factors typically included in a 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Dana Inc.'s performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-20 — Filing Date (FILED AS OF DATE)
• 3714 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 419-887-3000 — Business Phone (BUSINESS PHONE)

Key Players & Entities

• DANA INC (company) — FILER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240220 (date) — FILED AS OF DATE
• MAUMEE (location) — CITY
• OH (location) — STATE
• DE (location) — STATE OF INCORPORATION
• DANA HOLDING CORP (company) — FORMER COMPANY
• DANA CORP (company) — FORMER COMPANY

FAQ

Industry Context

Dana Inc. operates in the automotive parts and accessories industry, a sector critical to the global automotive manufacturing supply chain.

Regulatory Implications

The filing adheres to SEC regulations, specifically the Securities Exchange Act of 1934, requiring public companies to submit detailed annual financial reports.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and other key performance indicators.
2. Examine the risk factors section to understand potential challenges and uncertainties facing Dana Inc.
3. Review any disclosed executive compensation details to assess management incentives and structure.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-20: Filing Date — Date Dana Inc. submitted its 10-K to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document filed by Dana Inc. detailing its financial status for the fiscal year 2023.)

SIC Code

Standard Industrial Classification code used to classify businesses based on their primary activity. (Identifies Dana Inc.'s industry as Motor Vehicle Parts & Accessories.)

Year-Over-Year Comparison

This filing is the annual 10-K report for fiscal year 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share DAN New York Stock Exchan
• $6,063 — by our non-U.S. subsidiaries comprised $6,063, or 57%, of our 2023 consolidated sales
• $10,555 — 57%, of our 2023 consolidated sales of $10,555. A summary of sales and long-lived asse
• $237 — ur research and development costs wer e $237 in 2023, $201 in 2022 and $178 in 2021.
• $201 — d development costs wer e $237 in 2023, $201 in 2022 and $178 in 2021. Total enginee
• $178 — ts wer e $237 in 2023, $201 in 2022 and $178 in 2021. Total engineering expenses inc
• $369 — ncluding research and development we re $369 in 2023 , $321 in 2022 and $297 in 2021
• $321 — ch and development we re $369 in 2023 , $321 in 2022 and $297 in 2021 . Over the pas
• $297 — t we re $369 in 2023 , $321 in 2022 and $297 in 2021 . Over the past several years o

Filing Documents

• dan20231231_10k.htm (10-K) — 4193KB
• ex_623546.htm (EX-10.3) — 19KB
• ex_623547.htm (EX-10.8) — 77KB
• ex_623548.htm (EX-10.9) — 13KB
• ex_623549.htm (EX-10.10) — 29KB
• ex_623550.htm (EX-10.11) — 34KB
• ex_623551.htm (EX-10.12) — 121KB
• ex_623552.htm (EX-10.13) — 220KB
• ex_583981.htm (EX-21) — 27KB
• ex_583982.htm (EX-23) — 4KB
• ex_583983.htm (EX-24) — 10KB
• ex_583984.htm (EX-31.1) — 12KB
• ex_583985.htm (EX-31.2) — 12KB
• ex_583986.htm (EX-32) — 8KB
• ex_622239.htm (EX-97) — 27KB
• ex_622239img001.jpg (GRAPHIC) — 2KB
• exhibit1012.jpg (GRAPHIC) — 21KB
• exhibit1013.jpg (GRAPHIC) — 17KB
• grphy01.jpg (GRAPHIC) — 42KB
• 0001437749-24-004751.txt (&nbsp;) — 22394KB
• dan-20231231.xsd (EX-101.SCH) — 144KB
• dan-20231231_cal.xml (EX-101.CAL) — 148KB
• dan-20231231_def.xml (EX-101.DEF) — 1002KB
• dan-20231231_lab.xml (EX-101.LAB) — 870KB
• dan-20231231_pre.xml (EX-101.PRE) — 1076KB
• dan20231231_10k_htm.xml (XML) — 5179KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 7 Item 1B Unresolved Staff Comments 12 Item 1C Cybersecurity 12 Item 2

Properties

Properties 13 Item 3

Legal Proceedings

Legal Proceedings 13 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 14 Item 6 [Reserved] 14 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 29 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 30 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 71 Item 9A

Controls and Procedures

Controls and Procedures 71 Item 9B Other Information 71 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 71 PART III Item 10 Directors, Executive Officers and Corporate Governance 71 Item 11

Executive Compensation

Executive Compensation 71 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 72 Item 13 Certain Relationships and Related Transactions, and Director Independence 72 Item 14 Principal Accountant Fees and Services 72 PART IV Item 15 Exhibits and Financial Statement Schedules 73

Signatures

Signatures 76 i Table of Contents Forward-Looking Information PART I (Dollars in millions, except per share amounts)

Business

Item 1. Business General Dana Incorporated (Dana), with history dating back to 1904, is headquartered in Maumee, Ohio. We are a world leader in providing power-conveyance and energy-management solutions for vehicles and machinery. The company's portfolio improves the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. From axles, driveshafts, transmissions, sealing and thermal products to electrification products including motors, inverters, controllers, e-sealing, e-thermal and digital solutions, we enable the propulsion of internal combustion engine (ICE), hybrid and electric powered vehicles by supplying nearly every major vehicle manufacturer in the world. We also serve the stationary industrial market. As of December 31, 2023 we employed approximately 41,800 people and operated in 31 countries. The terms "Dana," "we," "our" and "us" are references to Dana. These references include the subsidiaries of Dana unless otherwise indicated or the context requires otherwise. Overview of our Business We have aligned our organization around four operating segments: Light Vehicle Drive Systems (Light Vehicle), Commercial Vehicle Drive and Motion Systems (Commercial Vehicle), Off-Highway Drive and Motion Systems (Off-Highway) and Power Technologies. These operating segments have global responsibility and accountability for business commercial activities and financial performance. External sales by operating segment for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 Dollars % of Total Dollars % of Total Dollars % of Total Light Vehicle $ 4,035 38.2 % $ 4,090 40.3 % $ 3,773 42.2 % Off-Highway 3,185 30.2 % 2,946 29.0 % 2,593 29.0 % Commercial Vehicle 2,092 19.8 % 1,979 19.5 % 1,532 17.1 % Power Technologies 1,243 11.8 % 1,141 11.2 % 1,047 11.7 % Total $ 10,555 $ 10,156 $ 8,945 Refer to Segmen

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View this 10-K filing on SEC EDGAR