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2024 Transformation Initiative (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs [Table]

The following charges were incurred in connection with the 2024 Transformation Initiative:

						Year Ended December 31, 2024
Cost of products sold:
Charges for workforce reductions						$	69
Asset write-offs						27
Incremental depreciation						38
Other exit costs						10
Total						144
Marketing, research and general expenses:
Charges for workforce reductions						116
Other exit costs						112
Total						228
Other (income) and expense, net(a)						84
Nonoperating expense						1
Total charges(b)						457
Provision for income taxes						(118)
Net charges						$	339

(a)Other (income) and expense, net includes losses recognized for the exit of certain businesses and markets as part of the 2024 Transformation Initiative.

(b)We do not include 2024 Transformation Initiative charges within our segment operating results. Total impact of these charges to the NA, IPC and IFP segments would have been $147, $187 and $82, respectively, with the residual relating to Corporate & Other. See further discussion around our segment operating results in Note 15.

2024 Transformation Initiatives Liabilities Activity [Table]

The following summarizes the 2024 Transformation Initiative liabilities activity:

						2024
2024 Transformation Initiative liabilities as of January 1						$	—
Charges for workforce reductions and other cash exit costs						291
Cash payments						(156)
Currency and other						(5)
2024 Transformation Initiative liabilities as of December 31						$	130

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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