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Restructuring | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | 6. REST RUCTURING As of June 30, 2025, the majority of the restructuring reserve balance of $117 million is attributed to global structural cost reduction program activities initiated in Europe in 2023. A majority of the activities are expected to be concluded in 2025. No material restructuring initiatives were entered into during the three and six months periods ended June 30, 2025. Provisions for the three and six months periods ended June 30, 2024 related to the restructuring activities in Europe. Cash payments for the three and six months periods ended June 30, 2025 and June 30, 2024 related to the restructuring activities in Europe that were initiated prior to 2024, mainly Germany. The table below summarizes the change in the balance sheet position of the employee-related restructuring reserves (dollars in millions). The restructuring reserve balances are included within Accrued expenses in the Condensed Consolidated Balance Sheets. The changes in the employee-related reserves have been charged against Other income (expense), net in the Consolidated Statements of Income. Restructuring costs other than employee related costs are immaterial for all periods presented.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Reserve at beginning of the period |  | $ | 121 |  |  | $ | 193 |  |  | $ | 151 |  |  | $ | 213 |
Provision - charge |  |  | 1 |  |  |  | 13 |  |  |  | 2 |  |  |  | 14 |
Provision - reversal |  |  | 0 |  |  |  | (0 | ) |  |  | (0 | ) |  |  | (0 | )
Cash payments |  |  | (15 | ) |  |  | (15 | ) |  |  | (50 | ) |  |  | (30 | )
Translation difference |  |  | 9 |  |  |  | (1 | ) |  |  | 14 |  |  |  | (7 | )
Reserve at end of the period |  | $ | 117 |  |  | $ | 189 |  |  | $ | 117 |  |  | $ | 189 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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