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Restructuring and Other Charges, Net | 6 Months Ended
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Mar. 29, 2019
Restructuring and Other Charges, Net |
Restructuring and Other Charges, Net | 2. Restructuring and Other Charges, Net Net restructuring and other charges consisted of the following:
|  | For the |  | For the |
|  | Quarters Ended |  | Six Months Ended |
|  | March 29, |  | March 30, |  | March 29, |  | March 30, |
|  | 2019 |  | 2018 |  | 2019 |  | 2018 |
|  | (in millions) |
Restructuring charges, net |  | $ | 42 |  | $ | 10 |  | $ | 117 |  | $ | 44 |
Other charges (credits), net |  |  | — |  |  | (4) |  |  | — |  |  | (4) |
Restructuring and other charges, net |  | $ | 42 |  | $ | 6 |  | $ | 117 |  | $ | 40 |
Net restructuring charges by segment were as follows:
|  | For the |  | For the |
|  | Quarters Ended |  | Six Months Ended |
|  | March 29, |  | March 30, |  | March 29, |  | March 30, |
|  | 2019 |  | 2018 |  | 2019 |  | 2018 |
|  | (in millions) |
Transportation Solutions |  | $ | 24 |  | $ | 1 |  | $ | 45 |  | $ | 5 |
Industrial Solutions |  |  | 17 |  |  | 8 |  |  | 52 |  |  | 30 |
Communications Solutions |  |  | 1 |  |  | 1 |  |  | 20 |  |  | 9 |
Restructuring charges, net |  | $ | 42 |  | $ | 10 |  | $ | 117 |  | $ | 44 |
Activity in our restructuring reserves was as follows:
|  | Balance at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Balance at |
|  | September 28, |  |  |  |  | Changes in |  | Cash |  | Non-Cash |  | Currency |  | March 29, |
|  | 2018 |  | Charges |  | Estimate |  | Payments |  | Items |  | Translation |  | 2019 |
|  | (in millions) |
Fiscal 2019 Actions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee severance |  | $ | — |  | $ | 107 |  | $ | — |  | $ | (14) |  | $ | — |  | $ | — |  | $ | 93 |
Fiscal 2018 Actions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee severance |  |  | 114 |  |  | 1 |  |  | — |  |  | (32) |  |  | — |  |  | (3) |  |  | 80 |
Facility and other exit costs |  |  | 4 |  |  | 2 |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  | 4 |
Property, plant, and equipment |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | — |
Total |  |  | 118 |  |  | 5 |  |  | — |  |  | (34) |  |  | (2) |  |  | (3) |  |  | 84 |
Pre-Fiscal 2018 Actions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Employee severance |  |  | 49 |  |  | 7 |  |  | (4) |  |  | (14) |  |  | — |  |  | (2) |  |  | 36 |
Facility and other exit costs |  |  | — |  |  | 1 |  |  | — |  |  | (2) |  |  | — |  |  | 1 |  |  | — |
Property, plant, and equipment |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  | — |
Total |  |  | 49 |  |  | 9 |  |  | (4) |  |  | (16) |  |  | (1) |  |  | (1) |  |  | 36 |
Total Activity |  | $ | 167 |  | $ | 121 |  | $ | (4) |  | $ | (64) |  | $ | (3) |  | $ | (4) |  | $ | 213 |
Fiscal 2019 Actions During fiscal 2019, we initiated a restructuring program associated with footprint consolidation and structural improvements impacting all segments. In connection with this program, during the six months ended March 29, 2019, we recorded restructuring charges of $107 million. We expect to complete all restructuring actions commenced during the six months ended March 29, 2019 by the end of fiscal 2021 and to incur additional charges of approximately $20 million primarily in the Transportation Solutions and Industrial Solutions segments. Fiscal 2018 Actions During fiscal 2018, we initiated a restructuring program associated with footprint consolidation and structural improvements primarily impacting the Industrial Solutions and Transportation Solutions segments. In connection with this program, during the six months ended March 29, 2019 and March 30, 2018, we recorded restructuring charges of $5 million and $35 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2018 by the end of fiscal 2020 and to incur additional charges of approximately $10 million primarily in the Industrial Solutions segment. Pre-Fiscal 2018 Actions Prior to fiscal 2018, we initiated a restructuring program associated with footprint consolidation related to recent acquisitions and structural improvements impacting all segments. Also prior to fiscal 2018, we initiated a restructuring program associated with headcount reductions impacting all segments and product line closures in the Communications Solutions segment. During the six months ended March 29, 2019 and March 30, 2018, we recorded net restructuring charges of $5 million and $9 million, respectively, related to pre-fiscal 2018 actions. We expect additional charges related to pre-fiscal 2018 actions to be insignificant. Total Restructuring Reserves Restructuring reserves included on the Condensed Consolidated Balance Sheets were as follows:
|  | March 29, |  | September 28, |
|  | 2019 |  | 2018 |
|  | (in millions) |
Accrued and other current liabilities |  | $ | 193 |  | $ | 141 |
Other liabilities |  |  | 20 |  |  | 26 |
Restructuring reserves |  | $ | 213 |  | $ | 167 |

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- Definition The entire 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. Also, includes disclosure related to a disposal group (except those classified as discontinued operations) and other charges (credits). + References No definition available. + Details
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- References No definition available. + Details
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