Restructuring Charges (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Components of restructuring and asset impairment charges

The following table presents the components of restructuring expense and asset impairment charges:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2023		2022		2023		2022
By component:
Severance and other charges	$	17	$	3	$	52	$	9

Asset impairment	3		—		3		—

Reversal of restructuring accruals	—		—		(1)		—
Total restructuring costs	$	20	$	3	$	54	$	9
Asset impairment charges	1		12		3		13
Total restructuring and asset impairment charges	$	21	$	15	$	57	$	22

By segment:
Water Infrastructure	$	1	$	2	$	4	$	4
Applied Water	5		—		6		1
Measurement & Control Solutions	4		13		10		17
Integrated Solutions & Services	—		—		4		—
Corporate and other	11		—		33		—

Restructuring Accruals

The following table displays a roll-forward of the restructuring accruals, presented on our Condensed Consolidated Balance Sheets within "Accrued and other current liabilities" and "Other non-current accrued liabilities", for the nine months ended September 30, 2023 and 2022:


(in millions)	2023		2022
Restructuring accruals - January 1	$	10	$	7
Restructuring costs, net	54		9
Cash payments	(12)		(7)
Asset impairment	(3)		—
Stock based compensation expense	(25)		—
Foreign currency and other	3		(1)
Restructuring accruals - September 30	$	27	$	8

By segment:
Water Infrastructure	$	3	$	1
Applied Water	1		—
Measurement & Control Solutions	7		3
Integrated Solutions & Services	4		—
Regional selling locations (a)	3		2
Corporate and other	9		2

(a)Regional selling locations consist primarily of selling and marketing organizations and related support services that incurred restructuring expense that was allocated to the segments. The liabilities associated with restructuring expense were not allocated to the segments.

Expected Restructuring Costs

The following table presents expected restructuring spend in 2023 and thereafter:


(in millions)	Water Infrastructure		Applied Water		Measurement & Control Solutions		Integrated Solutions & Services		Corporate		Total
Actions Commenced in 2023:
Total expected costs	$	5	$	7	$	10	$	7	$	33	$	62
Costs incurred during Q1 2023	1		1		3		—		—		5
Costs incurred during Q2 2023	2		—		1		4		22		29
Costs incurred during Q3 2023	1		5		3		—		11		20
Total expected costs remaining	$	1	$	1	$	3	$	3	$	—	$	8