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RESTRUCTURING CHARGES (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Charges

A summary of restructuring program charges (income) is as follows:

(In millions except per share data)			2022						2021						2020
Workforce reductions			$	(13)					$	21					$	172
Plant closing and other			47						57						42
Total before income taxes1			33						78						214
Income tax benefit			4						18						44
Total after income taxes			$	29					$	60					$	170
Per ordinary share - diluted			$	0.07					$	0.15					$	0.42

Restructuring program charges (income) related to the following segments:

(In millions)			2022						2021						2020
Electrical Americas			$	17					$	14					$	18
Electrical Global			14						18						55
Aerospace			8						8						34
Vehicle			(15)						21						102
eMobility			1						1						1
Corporate			8						16						4
Total1			$	33					$	78					$	214

Schedule of Liabilities Related to Restructuring

A summary of liabilities related to workforce reductions, plant closing and other associated costs is as follows:

(In millions)			Workforce reductions						Plant closing and other						Total
Balance at January 1, 2020			$	—					$	—					$	—
Liability recognized			172						42						214
Payments, utilization and translation			(33)						(39)						(72)
Balance at December 31, 2020			$	139					$	3					$	142
Liability recognized			21						57						78
Payments, utilization and translation			(64)						(52)						(116)
Balance at December 31, 2021			$	96					$	8					$	104
Liability recognized, net1			(13)						47						33
Payments, utilization and translation			(45)						(51)						(96)
Balance at December 31, 2022			$	38					$	4					$	41

1The restructuring program liability was adjusted by $30 million in the fourth quarter of 2022 related to true-ups for completed workforce reductions and the decision not to close a facility in the Vehicle segment that was previously included in the program.

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- References

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

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