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Exit and Restructuring Costs

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Exit and Restructuring Costs

Exit and Restructuring Costs

Total charges associated with the 2022 Productivity Plan, which was completed in the third quarter of 2024, and the U.S. voluntary retirement plan, which was completed in 2023, were $127 million, including $17 million, $98 million and $12 million for the years ended December 31, 2024, 2023 and 2022 respectively. The costs of these plans are classified within Exit and restructuring on the Consolidated Statements of Operations. The Company’s remaining payment obligations of $4 million, are reflected within Accrued liabilities on the Consolidated Balance Sheets.

The rollforward of the liability associated with Exit and restructuring activities is:

Balance as of December 31, 2023			$	22
Exit and restructuring charges			17
Non-cash utilization			(3)
Cash payments			(32)
Balance as of December 31, 2024			$	4

The Company incurred Exit and restructuring costs, under previously announced programs of $2 million for the year ended December 31, 2022.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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