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Restructuring Program (Tables)

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Liability

The Simplify to Grow Program liability activity for the nine months ended September 30, 2022 was:

			Severance and related costs						Asset Write-downs (1)						Total
			(in millions)
Liability balance, January 1, 2022			$	211					$	—					$	211
Charges (2)			11						(3)						8
Cash spent (3)			(45)												(45)
Non-cash settlements/adjustments (4)			(2)						3						1
Currency			(18)						—						(18)
Liability balance, September 30, 2022 (5)			$	157					$	—					$	157

(1)Includes gains as a result of assets sold which are included in the restructuring program.

(2)We recorded a $10 million gain in the third quarter of 2022 due to the sale of assets included in the restructuring program as well as restructuring charges of $3 million, and restructuring charges of $8 million in the first nine months of 2022. We recorded restructuring charges of $62 million in the third quarter and $250 million in the first nine months of 2021. This activity is recorded within asset impairment and exit costs and benefit plan non-service income.

(3)We spent $12 million in the third quarter of 2022 and $65 million in the third quarter of 2021 and $45 million in the first nine months of 2022 and $129 million in the first nine months of 2021 in cash severance and related costs.

(4)We recognized non-cash asset write-downs (including accelerated depreciation and asset impairments), and other adjustments, including any gains on sale of restructuring program assets, which totaled a gain of $10 million in the third quarter and $1 million in the first nine months of 2022 and a charge of $54 million in the third quarter and of $170 million in the first nine months of 2021.

(5)At September 30, 2022, $106 million of our net restructuring liability was recorded within other current liabilities and $51 million was recorded within other long-term liabilities.

Schedule of Restructuring and Implementation Costs by Segment

In connection with our restructuring program, we recorded non-cash property, plant and equipment write-downs (including accelerated depreciation and asset impairments) and losses/(gains) on disposal in the condensed consolidated statements of earnings within asset impairment and exit costs and within the segment results as follows (refer to Note 7, Restructuring Program).

			For the Three Months Ended September 30,												For the Nine Months Ended September 30,
			2022						2021						2022						2021
			(in millions)
Latin America			$	(2)					$	—					$	(3)					$	—
AMEA			2						—						2						(16)
Europe			1						3						4						6
North America			(11)						48						(7)						165
Total			$	(10)					$	51					$	(4)					$	155

During the three and nine months ended September 30, 2022 and September 30, 2021, and since inception of the Simplify to Grow Program, we recorded the following restructuring and implementation costs within segment operating income and earnings before income taxes:

			Latin America						AMEA						Europe						North America						Corporate						Total
			(in millions)
For the Three Months Ended September 30, 2022
Restructuring Costs			$	(2)					$	1					$	3					$	(8)					$	(1)					$	(7)
Implementation Costs			1						—						5						8						9						23
Total			$	(1)					$	1					$	8					$	—					$	8					$	16
For the Three Months Ended September 30, 2021
Restructuring Costs			$	1					$	1					$	2					$	57					$	1					$	62
Implementation Costs			—						2						6						51						6						65
Total			$	1					$	3					$	8					$	108					$	7					$	127
For the Nine Months Ended September 30, 2022
Restructuring Costs			$	(5)					$	3					$	5					$	4					$	1					$	8
Implementation Costs			5						4						18						24						11						62
Total			$	—					$	7					$	23					$	28					$	12					$	70
For the Nine Months Ended September 30, 2021
Restructuring Costs			$	4					$	(18)					$	7					$	250					$	7					$	250
Implementation Costs			7						7						27						78						13						132
Total			$	11					$	(11)					$	34					$	328					$	20					$	382
Total Project (Inception to Date)
Restructuring Costs			$	549					$	544					$	1,152					$	649					$	150					$	3,044
Implementation Costs			301						243						562						577						367						2,050
Total			$	850					$	787					$	1,714					$	1,226					$	517					$	5,094

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
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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
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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-Section S99
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-Subparagraph (SAB Topic 5.P.4(b)(2))
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