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Significant Restructuring and Impairment Costs | 6 Months Ended
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Mar. 31, 2023
Restructuring and Related Activities [Abstract] |
Significant Restructuring and Impairment Costs | Significant Restructuring and Impairment Costs To better align its resources with its growth strategies and reduce the cost structure of its global operations in certain underlying markets, the Company commits to various restructuring activities as necessary. Restructuring activities generally result in charges for workforce reductions, plant closures, asset impairments and other related costs which are reported as restructuring and impairment costs in the Company’s consolidated statements of income. The other related costs consist primarily of consulting costs incurred as a direct result of the restructuring activities. The Company expects the restructuring activities to reduce cost of sales and SG&A due to reduced employee-related costs, depreciation and amortization expense. During the three and six months ended March 31, 2023, the Company recorded $24 million and $81 million of restructuring and impairment costs in the consolidated statements of income, respectively. These charges relate to restructuring plans within the segments and at Corporate to reduce and optimize our cost structure. Refer to Note 4, "Assets and Liabilities Held for Sale," and Note 8, "Goodwill and Other Intangible Assets," of the notes to the consolidated financial statements for disclosure of other impairment costs. The following table summarizes restructuring and impairment costs (in millions):
| Three Months Ended March 31, 2023 |  | Six Months Ended March 31, 2023 |  |
Building Solutions North America | $ | 4 |  |  | $ | 6 |  |  |
Building Solutions EMEA/LA | — |  |  | 21 |  |  |
Building Solutions Asia Pacific | 1 |  |  | 6 |  |  |
Global Products | 4 |  |  | 27 |  |  |
Corporate | 15 |  |  | 21 |  |  |
Total | $ | 24 |  |  | $ | 81 |  |  |
The following table summarizes changes in the restructuring reserve, which is included within other current liabilities in the consolidated statements of financial position, for new restructuring actions taken in the six months ended March 31, 2023 (in millions):
| Employee Severance and Termination Benefits |  | Long-Lived Asset Impairments |  | Other |  |  |  | Total
Original reserve | $ | 30 |  |  | $ | 6 |  |  | $ | 21 |  |  |  |  | $ | 57 |
Utilized—cash | (3) |  |  | — |  |  | (5) |  |  |  |  | (8) |
Utilized—noncash | — |  |  | (6) |  |  | — |  |  |  |  | (6) |
Balance at December 31, 2022 | 27 |  |  | — |  |  | 16 |  |  |  |  | 43 |
Additional restructuring costs | 17 |  |  | 4 |  |  | 3 |  |  |  |  | 24 |
Utilized—cash | (32) |  |  | — |  |  | (8) |  |  |  |  | (40) |
Utilized—noncash | — |  |  | (4) |  |  | — |  |  |  |  | (4) |
Balance at March 31, 2023 | $ | 12 |  |  | $ | — |  |  | $ | 11 |  |  |  |  | $ | 23 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -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 + Details
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