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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2021
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURINGThe Company’s restructuring activities are undertaken as necessary to execute management’s strategy and streamline operations, consolidate and take advantage of available capacity and resources, and ultimately achieve net cost reductions. Restructuring activities include efforts to integrate and rationalize the Company’s business and to relocate operations to best-cost locations. The Company’s restructuring expenses consist primarily of employee termination benefits (principally severance and/or other termination benefits) and other costs, which are primarily professional fees and costs related to facility closures and exits.
(in millions) | Air Management |  | e-Propulsion & Drivetrain |  | Fuel Injection |  | Aftermarket |  | Corporate |  | Total
Year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Employee termination benefits | $ | 34 |  |  | $ | 12 |  |  | $ | 53 |  |  | $ | — |  |  | $ | — |  |  | $ | 99 |
Other | 18 |  |  | 43 |  |  | 1 |  |  | — |  |  | 2 |  |  | 64 |
Total restructuring expense | $ | 52 |  |  | $ | 55 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 163 |
Year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Employee termination benefits | $ | 50 |  |  | $ | 54 |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 44 |  |  | $ | 157 |
Other | 29 |  |  | 16 |  |  | — |  |  | — |  |  | 1 |  |  | 46 |
Total restructuring expense | $ | 79 |  |  | $ | 70 |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | 45 |  |  | $ | 203 |
Year ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Employee termination benefits | $ | 43 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |
Other | 17 |  |  | 5 |  |  | — |  |  | — |  |  | 6 |  |  | 28 |
Total restructuring expense | $ | 60 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | 72 |
The following table displays a rollforward of the restructuring liability recorded within the Company’s Consolidated Balance Sheets and the related cash flow activity:
(in millions) | Employee termination benefits |  | Other |  | Total
Balance at January 1, 2020 | $ | 34 |  |  | $ | 1 |  |  | $ | 35 |
Delphi Technologies acquisition | 73 |  |  | 2 |  |  | 75 |
Restructuring expense, net | 157 |  |  | 46 |  |  | 203 |
Cash payments | (113) |  |  | (22) |  |  | (135) |
Foreign currency translation adjustment and other | 9 |  |  | (14) |  |  | (5) |
Balance at December 31, 2020 | 160 |  |  | 13 |  |  | 173 |
Restructuring expense, net | 99 |  |  | 64 |  |  | 163 |
Cash payments | (128) |  |  | (61) |  |  | (189) |
Foreign currency translation adjustment and other | (5) |  |  | (3) |  |  | (8) |
Balance at December 31, 2021 | $ | 126 |  |  | $ | 13 |  |  | $ | 139 |
Less: Non-current restructuring liability | 41 |  |  | 2 |  |  | 43 |
Current restructuring liability at December 31, 2021 | $ | 85 |  |  | $ | 11 |  |  | $ | 96 |
In February 2020, the Company announced a restructuring plan to address existing structural costs. During the years ended December 31, 2021, and 2020, the Company recorded $103 million and $148 million of restructuring charges related to this plan, respectively. Cumulatively, the Company has incurred $251 million of restructuring charges related to this plan. This plan is expected to result in a total of $300 million of restructuring costs through 2022. Nearly all of the restructuring charges are expected to be cash expenditures. In 2019, legacy Delphi Technologies announced a restructuring plan to reshape and realign its global technical center footprint and reduce salaried and contract staff. The Company continued actions under this program post-acquisition and has recorded cumulative charges of $62 million since October 1, 2020, including approximately $60 million in restructuring charges during the year ended December 31, 2021. The majority of the actions under this program have been completed. Additionally, the Company recorded approximately $54 million in restructuring charges during the three months ended December 31, 2020, for acquisition-related restructuring charges. In conjunction with the acquisition, there were contractually required severance and post-combination stock-based compensation cash payments to legacy Delphi Technologies executive officers and other employee termination benefits. In April 2019, the Company announced a restructuring plan including several actions to reduce existing structural costs. These actions were primarily completed by the fourth quarter 2019 and resulted in approximately $50 million of restructuring expense. In 2017, the Company initiated actions designed to improve future profitability and competitiveness and started exploring strategic options for the non-core product lines. As a continuation of these actions, the Company recorded restructuring expense of $18 million in the year ended December 31, 2019 The following provides details of restructuring expense incurred by the Company’s reporting segments during the years ended December 31, 2021, 2020 and 2019, related to the plans discussed above: Air Management •During the year ended December 31, 2021, the segment recorded $52 million of restructuring costs, of which $23 million primarily related to a voluntary termination program where approximately 140 employees accepted termination packages in 2021, $25 million related to specific actions to reduce structural costs, and $4 million primarily related to severance costs under the legacy Delphi Technologies plan. •During the year ended December 31, 2020, the segment recorded $79 million of restructuring costs, of which $27 million related to a voluntary termination program where approximately 200 employees accepted termination packages in 2020, $33 million related to severance costs and professional fees for specific actions to reduce structural costs, and $19 million related to employee termination benefits related to the announced closure of a facility in Europe affecting approximately 200 employees. •During the year ended December 31, 2019, the segment recorded $60 million of restructuring costs, of which $37 million related to a voluntary termination program where approximately 130 employees accepted termination packages in 2019, and $18 million related to actions related to improving future profitability and competitiveness, which includes professional fees, employee termination benefits and relocation costs. The segment also recorded $5 million primarily related to severance costs and professional fees for actions to reduce structural costs. e-Propulsion & Drivetrain •During the year ended December 31, 2021, the segment recorded $55 million of restructuring costs, of which $19 million primarily related to severance costs, equipment relocation and professional fees to reduce existing structural costs, and $35 million related to contractual settlements, professional fees and other costs associated with the announced closure of a facility in Europe. •During the year ended December 31, 2020, the segment recorded $70 million of restructuring costs, of which $55 million related to the announced closure of a facility in Europe affecting approximately 350 employees, primarily for the statutory minimum benefits and incremental one-time termination benefits negotiated with local labor authorities, and $15 million primarily related to severance costs, equipment relocation and professional fees to reduce existing structural costs. •During the year ended December 31, 2019, the segment recorded $6 million primarily related to professional fees for actions to reduce structural costs and severance costs. Fuel Injection •During the year ended December 31, 2021, the segment recorded $54 million of restructuring costs, primarily for the statutory minimum benefits and incremental one-time termination benefits negotiated with local labor authorities related to the legacy Delphi Technologies restructuring plan. •During the year ended December 31, 2020, following the Delphi Technologies acquisition, the segment recorded $8 million of restructuring costs related to the legacy Delphi Technologies restructuring plan. Corporate •During the year ended December 31, 2021, $2 million of net restructuring costs were recorded for various corporate restructuring actions. •During the year ended December 31, 2020, $45 million of restructuring costs were recorded primarily related to contractually required severance and stock-based compensation cash payments associated with Delphi Technologies executive officers and other employee termination benefits. •During the year ended December 31, 2019, $6 million of restructuring costs were recorded for various corporate restructuring actions. Estimates of restructuring expense are based on information available at the time such charges are recorded. Due to the inherent uncertainty involved in estimating restructuring expenses, actual amounts paid for such activities may differ from amounts initially recorded. Accordingly, the Company may record revisions of previous estimates by adjusting previously established accruals. The Company continues to evaluate different options across its operations to reduce existing structural costs over the next few years. The Company will recognize restructuring expense associated with any future actions at the time they are approved and become probable or are incurred. Any future actions could result in significant restructuring expense.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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