XML 54 R33.htm IDEA: XBRL DOCUMENT v3.24.2

Restructuring Program (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Liability

The Simplify to Grow Program liability activity for the six months ended June 30, 2024 was:

			Severance and related costs						Asset Write-downs and Other (1)						Total
			(in millions)
Liability balance, January 1, 2024			$	191					$	—					$	191
Charges (2)			39						6						45
Cash spent (3)			(23)						—						(23)
Non-cash settlements/adjustments (4)			—						(6)						(6)
Currency			(6)						—						(6)
Liability balance, June 30, 2024 (5)			$	201					$	—					$	201

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

(2)We recorded restructuring charges of $3 million in the three months ended June 30, 2024 and restructuring charges of $2 million in the three months ended June 30, 2023 and restructuring charges of $45 million in the six months ended June 30, 2024 and $32 million in the six months ended June 30, 2023 within asset impairment and exit costs and benefit plan non-service income.

(3)We spent $10 million in the three months ended June 30, 2024 and $17 million in the three months ended June 30, 2023 and spent $23 million in the six months ended June 30, 2024 and $35 million in the six months ended June 30, 2023 in cash severance and related costs.

(4)We recognized non-cash asset write-downs (including accelerated depreciation and asset impairments) and other non-cash adjustments, including any gains on sale of restructuring program assets, which totaled a charge of $5 million in the three months ended June 30, 2024 and a charge of $5 million in the three months ended June 30, 2023 and a charge of $6 million in the six months ended June 30, 2024 and $6 million in the six months ended June 30, 2023.

(5)At June 30, 2024, $114 million of our net restructuring liability was recorded within other current liabilities and $87 million was recorded within other long-term liabilities.

Schedule of Restructuring and Implementation Costs by Segment

During the three and six months ended June 30, 2024 and June 30, 2023, 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 June 30, 2024
Restructuring Costs			$	1					$	—					$	2					$	(1)					$	1					$	3
Implementation Costs			1						—						5						6						—						12
Total			$	2					$	—					$	7					$	5					$	1					$	15
For the Three Months Ended June 30, 2023
Restructuring Costs			$	(1)					$	1					$	(3)					$	6					$	(1)					$	2
Implementation Costs			(1)						—						2						3						—						4
Total			$	(2)					$	1					$	(1)					$	9					$	(1)					$	6
For the Six Months Ended June 30, 2024
Restructuring Costs			$	3					$	1					$	42					$	(1)					$	—					$	45
Implementation Costs			1						—						6						10						6						23
Total			$	4					$	1					$	48					$	9					$	6					$	68
For the Six Months Ended June 30, 2023
Restructuring Costs			$	(1)					$	2					$	27					$	5					$	(1)					$	32
Implementation Costs			(1)						—						2						3						5						9
Total			$	(2)					$	2					$	29					$	8					$	4					$	41
Total Project (Inception to Date)
Restructuring Costs			$	548					$	562					$	1,284					$	675					$	154					$	3,223
Implementation Costs			305						245						587						608						378						2,123
Total			$	853					$	807					$	1,871					$	1,283					$	532					$	5,346

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration