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REPOSITIONING AND OTHER CHARGES (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Repositioning and Other Charges

A summary of net repositioning and other charges follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Severance			$	38					$	35					$	91					$	121
Asset impairments			3						16						5						37
Exit costs			15						36						48						98
Reserve adjustments			(28)						(23)						(55)						(40)
Total net repositioning charges			28						64						89						216
Asbestos-related charges, net of insurance and reimbursements			18						24						54						79
Probable and reasonably estimable environmental liabilities, net of reimbursements			6						6						29						40
Other charges			—						(6)						17						(4)
Total net repositioning and other charges			$	52					$	88					$	189					$	331

Pretax Distribution of Total Net Repositioning and Other Charges

The following table summarizes the pre-tax distribution of total net repositioning and other charges by classification in the Consolidated Statement of Operations:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Cost of products and services sold			$	23					$	57					$	109					$	200
Selling, general and administrative expenses			29						31						63						122
Other (income) expense			—						—						17						9
Total net repositioning and other charges			$	52					$	88					$	189					$	331

Pretax Impact of Total Net Repositioning and Other Charges by Segment

The following table summarizes the pre-tax amount of total net repositioning and other charges by reportable business segment. These amounts are excluded from segment profit as described in Note 18 Segment Financial Data:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Aerospace Technologies			$	(7)					$	10					$	1					$	21
Industrial Automation			21						26						49						115
Building Automation			1						9						1						40
Energy and Sustainability Solutions			1						19						20						24
Corporate and All Other			36						24						118						131
Total net repositioning and other charges			$	52					$	88					$	189					$	331

Total Repositioning Reserves

The following table summarizes the status of the Company's total repositioning reserves:

			Severance Costs						Asset Impairments						Exit Costs						Total
Balance at December 31, 2023			$	188					$	—					$	91					$	279
Charges			91						5						48						144
Usage—cash			(72)						—						(73)						(145)
Usage—noncash			—						10						—						10
Foreign currency translation			(9)						—						—						(9)
Adjustments			(26)						(15)						(14)						(55)
Reclassifications to Liabilities held for sale			(14)						—						(8)						(22)
Balance at September 30, 2024			$	158					$	—					$	44					$	202

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The tabular disclosure of Pretax distribution of total net repositioning and other charges by income statement classification

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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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-Topic 420
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-Name Accounting Standards Codification
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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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