The company said it permanently divested its legacy asbestos liabilities on September 29, 2025 by selling Sterling Wander LLLP to Delticus. It said the deal covers all Bendix asbestos liabilities and certain non-Bendix asbestos liabilities.

1. 01

   The company said it permanently divested its legacy asbestos liabilities on September 29, 2025 by selling Sterling Wander LLLP to Delticus. It said the deal covers all Bendix asbestos liabilities and certain non-Bendix asbestos liabilities.

2. 02

   The company said Sterling Wander received the related insurance assets and a total of approximately $1.68 billion in cash at closing. It said it used a portion of the approximately $1.6 billion in cash it received from the Resideo indemnification and reimbursement agreement termination transaction to fund the deal.

3. 03

   The company said the divested asbestos liabilities and related insurance assets will be removed from its consolidated balance sheet. It said the estimated impact of the divestiture is a one-time after-tax loss of approximately $115 million, and that the loss is excluded from Adjusted Earnings Per Share.

4. 04

   The company said Delticus will take on management and resolution of current and future asbestos claims tied to the acquired liabilities. It expects the transaction to improve annual free cash flow by more than $100 million over the next several years, with the benefit decreasing over time.

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Original filing

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