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Restructuring and Other Charges, Net (Tables)
3 Months Ended
Dec. 27, 2024
Restructuring and Other Charges, Net  
Schedule of net restructuring and other charges

For the

Quarters Ended

December 27,

December 29,

    

2024

    

2023

    

(in millions)

Restructuring charges, net

$

43

$

9

Loss on divestiture

11

Costs related to change in place of incorporation

10

Other charges (credits), net

 

(3)

 

1

Restructuring and other charges, net

$

50

$

21

Net restructuring and related charges by segment

For the

Quarters Ended

December 27,

December 29,

    

2024

    

2023

    

(in millions)

Transportation Solutions

$

26

$

2

Industrial Solutions

 

17

 

7

Restructuring charges, net

$

43

$

9

Summary of activity in restructuring reserves

Balance at

Balance at

  

September 27,

Changes in

Cash

Non-Cash

Currency

December 27,

    

2024

    

Charges

    

Estimate

    

Payments

    

Items

    

Translation

    

2024

    

(in millions)

Fiscal 2025 Actions:

Employee severance

$

$

27

$

$

$

$

$

27

Property, plant, and equipment

3

(3)

Total

30

(3)

27

Fiscal 2024 Actions:

Employee severance

72

2

(11)

(4)

59

Property, plant, and equipment

2

(2)

Total

72

2

2

(11)

(2)

(4)

59

Pre-Fiscal 2024 Actions:

Employee severance

186

9

(2)

(26)

(9)

158

Facility and other exit costs

15

1

(5)

(1)

10

Property, plant, and equipment

1

(1)

Total

201

11

(2)

(31)

(1)

(10)

168

Total Activity

$

273

$

43

$

$

(42)

$

(6)

$

(14)

$

254

Restructuring reserves included on Consolidated Balance Sheets

December 27,

September 27,

    

2024

    

2024

    

(in millions)

Accrued and other current liabilities

$

219

$

233

Other liabilities

 

35

 

40

Restructuring reserves

$

254

$

273