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Restructuring | 9 Months Ended
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Sep. 28, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring Restructuring costs include employee termination benefits, asset impairment charges and contract termination costs, as well as other incremental net costs resulting from the restructuring actions. Employee termination benefits are recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Other incremental net costs principally include equipment and personnel relocation costs. In addition to restructuring costs, the Company also incurs incremental manufacturing inefficiency costs at the operating locations impacted by the restructuring actions during the related restructuring implementation period. Restructuring costs are recognized in the Company's condensed consolidated financial statements in accordance with GAAP. Generally, charges are recorded as restructuring actions are approved, communicated and/or implemented. A summary of the changes in the Company's restructuring reserves is shown below (in millions):
Balance at January 1, 2024 | $ | 121.6 |
Provision for employee termination benefits | 96.6 |
Payments, utilizations and foreign currency | (95.3) |
Balance at September 28, 2024 | $ | 122.9 |
Charges recorded in connection with the Company's restructuring actions are shown below (in millions):
| Nine Months Ended
| September 28, 2024 |  | September 30, 2023
Employee termination benefits | $ | 96.6 |  |  | $ | 73.1 |
Asset impairments: |  |  |
Property, plant and equipment | 1.6 |  |  | 2.8 |
Right-of-use assets | — |  |  | 9.6 |
Contract termination costs | 2.8 |  |  | 2.5 |
Other related costs | 6.7 |  |  | 8.3 |
| $ | 107.7 |  |  | $ | 96.3 |
Restructuring charges by income statement line item are shown below (in millions):
| Nine Months Ended
| September 28, 2024 |  | September 30, 2023
Cost of sales | $ | 97.1 |  |  | $ | 85.9 |
Selling, general and administrative expenses | 14.4 |  |  | 10.4 |
Other expense, net | (3.8) |  |  | — |
| $ | 107.7 |  |  | $ | 96.3 |
Restructuring charges by operating segment are shown below (in millions):
| Three Months Ended |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Seating | $ | 14.1 |  |  | $ | 28.5 |  |  | $ | 76.8 |  |  | $ | 65.4 |
E-Systems | 6.2 |  |  | 19.7 |  |  | 24.6 |  |  | 29.7 |
Other | 3.7 |  |  | — |  |  | 6.3 |  |  | 1.2 |
| $ | 24.0 |  |  | $ | 48.2 |  |  | $ | 107.7 |  |  | $ | 96.3 |
The Company expects to incur approximately $36 million and approximately $14 million of additional restructuring costs in its Seating and E-Systems segments, respectively, related to activities initiated as of September 28, 2024, and expects that the components of such costs will be consistent with its historical experience.

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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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