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2024 Transformation Initiative (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

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

						Three Months Ended March 31
						2025						2024
Cost of products sold:
Charges for workforce reductions						$	14					$	—
Incremental depreciation						32						—
Other exit costs						7						—
Total						53						—
Marketing, research and general expenses:
Charges for workforce reductions						2						23
Other exit costs						20						22
Total						22						45
Nonoperating expense						2						—
Total charges(a)						77						45
Provision for income taxes						—						(11)
Net charges						$	77					$	34

(a)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 were $27, $20 and $14, respectively, for the three months ended March 31, 2025, and $38, $3 and $4, respectively, for the three months ended March 31, 2024, with the residual relating to Corporate & Other. See further discussion around our segment operating results in Note 7.

Schedule of Restructuring Reserve by Type of Cost

The following summarizes the 2024 Transformation Initiative liabilities activity:

						2025
2024 Transformation Initiative liabilities as of January 1						$	130
Charges for workforce reductions and other cash exit costs						43
Cash payments						(60)
Currency and other						(5)
2024 Transformation Initiative liabilities as of March 31						$	108

2024

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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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