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Restructuring and Other

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Other

Restructuring and Other

The Company recorded restructuring and other items as follows:

			2020						2019						2018
Restructuring			$	23					$	22					$	25
Other costs / (income)			9						(41)						(2)
Asset impairments and sales			2						(7)						(5)
Transaction costs			—						—						26
			$	34					$	(26)					$	44

2020 Activity

Restructuring costs included charges of $19 related to an internal reorganization and headcount reductions within the Transit Packaging Division. The Company continues to identify cost reduction initiatives in its businesses and it is possible that the Company may record additional restructuring charges in the future.

2019 Activity

Restructuring costs included charges of $18 for termination benefits related to headcount reductions across the Company, including $14 related to for headcount reductions in the Company's European and Transit Packaging divisions.

Other costs / (income) of $41 included gains of $50 arising from favorable court rulings related to the recovery of indirect taxes paid in prior years by certain of the Company's Brazilian subsidiaries and a charge of $7 related to the settlement of a litigation matter related to Signode that arose prior to its acquisition by the Company in 2018.

Asset impairments and sales included gains of $13 related to asset sales partially offset by a charge of $6 related to a fire at a production facility in Asia.

2018 Activity

Restructuring costs included $5 for termination benefits related to the closure of two beverage can plants in the Company's Asia Pacific segment, $12 of termination benefits related to other actions to reduce manufacturing capacity and headcount and other exit costs of $8 related to prior and current year restructuring actions.

Other costs / (income) of $2 included a benefit of $6 due to the favorable settlement of a litigation matter related to Mivisa that arose prior to its acquisition by the Company in 2014.

Asset impairments and sales included asset impairment charges of $13 to write down the carrying value of fixed assets related to the closure of two beverage can plants in the Company's Asia Pacific segment.

Asset impairment and sales also includes gains on asset sales related to prior restructuring actions.

Transaction costs related to the acquisition of Signode.

Restructuring charges by segment were as follows:

			2020						2019						2018
Americas Beverage			$	—					$	1					$	4
European Beverage			—						—						1
European Food			—						4						4
Asia Pacific			1						3						5
Transit Packaging			19						6						3
Other segments			3						5						5
Corporate			—						3						3
			$	23					$	22					$	25

Restructuring charges by type were as follows:

			2020						2019						2018
Termination benefits			$	12					$	18					$	17
Other exit costs			11						4						8
			$	23					$	22					$	25

At December 31, 2020, the Company had a restructuring accrual of $20, primarily related to headcount reductions in its Transit Packaging and European divisions. The Company expects to pay these amounts over the next twelve months.

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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