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Restructuring Charges and Other Costs Associated with Acquisitions and Divestitures (Tables) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | The components of costs incurred in connection with restructuring initiatives, acquisitions and divestitures are as follows:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(MILLIONS OF DOLLARS) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Restructuring charges and certain acquisition and divestiture-related costs: |  |  |  |  |  |  |  |
Acquisition-related costs |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |
Divestiture-related costs |  | — |  |  | 4 |  |  | — |  |  | 4 |
Restructuring charges, net(a): |  |  |  |  |  |  |  |
Employee termination costs, net |  | 5 |  |  | 37 |  |  | $ | 5 |  |  | $ | 41 |
Asset impairment charges |  | 22 |  |  | — |  |  | 22 |  |  | — |
Exit costs |  | 2 |  |  | — |  |  | 2 |  |  | — |
Total Restructuring charges and certain acquisition and divestiture-related costs |  | $ | 30 |  |  | $ | 42 |  |  | $ | 30 |  |  | $ | 46 |
(a) Restructuring charges for the three and six months ended June 30, 2025 primarily consisted of asset impairment charges and employee termination costs related to a transition from internal to external innovation and manufacturing of certain products and the closure of a related site. Restructuring charges for the three and six months ended June 30, 2024 primarily consisted of employee termination costs related to organizational structure refinements. Restructuring charges for the six months ended June 30, 2024 were partially offset by a reversal of certain employee termination costs as a result of a change in strategy from our 2015 operational efficiency initiative. The change in our restructuring accrual is as follows:
(MILLIONS OF DOLLARS) |  |  |  |  |  |  |  |  |  | Accrual
Balance, December 31, 2024(a) |  |  |  |  |  |  |  |  |  | $ | 28 |
Provision |  |  |  |  |  |  |  |  |  | 29 |
Non-cash activity |  |  |  |  |  |  |  |  |  | (22) |
Utilization and other(b) |  |  |  |  |  |  |  |  |  | (15) |
Balance, June 30, 2025(a) |  |  |  |  |  |  |  |  |  | $ | 20 |
(a) At June 30, 2025 and December 31, 2024, included in Accrued expenses ($18 million and $26 million, respectively) and Other noncurrent liabilities ($2 million). (b) Includes adjustments for foreign currency translation.

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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 -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
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