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Restructuring | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring Charges recorded in connection with the Company's restructuring actions are shown below (in millions):
For the year ended December 31, | 2024 |  | 2023 |  | 2022
Employee termination benefits | $ | 129.0 |  |  | $ | 119.2 |  |  | $ | 121.9 |
Asset impairments |  |  |  |  |
Property, plant and equipment | 2.9 |  |  | 5.1 |  |  | 9.9 |
Right-of-use assets | 2.3 |  |  | 10.9 |  |  | 6.5 |
Contract termination costs | 3.7 |  |  | 5.7 |  |  | 4.5 |
Other related net costs | 1.0 |  |  | (8.2) |  |  | 11.4 |
| $ | 138.9 |  |  | $ | 132.7 |  |  | $ | 154.2 |
Restructuring charges by income statement account are shown below (in millions):
For the year ended December 31, | 2024 |  | 2023 |  | 2022
Cost of sales | $ | 133.1 |  |  | $ | 130.2 |  |  | $ | 129.7 |
Selling, general and administrative expenses | 19.3 |  |  | 20.7 |  |  | 24.5 |
Other income, net | (13.5) |  |  | (18.2) |  |  | — |
| $ | 138.9 |  |  | $ | 132.7 |  |  | $ | 154.2 |
Restructuring charges by operating segment are shown below (in millions):
For the year ended December 31, | 2024 |  | 2023 |  | 2022
Seating | $ | 100.8 |  |  | $ | 99.5 |  |  | $ | 65.3 |
E-Systems | 30.1 |  |  | 30.5 |  |  | 82.8 |
Other | 8.0 |  |  | 2.7 |  |  | 6.1 |
| $ | 138.9 |  |  | $ | 132.7 |  |  | $ | 154.2 |
The Company expects to incur approximately $67 million and approximately $11 million of additional restructuring charges in its Seating and E-Systems segments, respectively, related to activities initiated as of December 31, 2024, and expects that the components of such costs will be consistent with its historical experience. A summary of the changes in the Company's restructuring reserves is shown below (in millions):
| 2024 |  | 2023
Balance as of January 1, | $ | 121.6 |  |  | $ | 82.9 |
Provision for employee termination benefits | 129.0 |  |  | 119.2 |
Payments, utilizations and foreign currency | (150.6) |  |  | (80.5) |
Balance as of December 31, | $ | 100.0 |  |  | $ | 121.6 |

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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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