XML 36 R17.htm IDEA: XBRL DOCUMENT
v3.22.2

RESTRUCTURING CHARGES | 6 Months Ended
--- | ---
Jun. 30, 2022
Restructuring Charges [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES We periodically take action to improve operating efficiencies, typically in connection with business acquisitions or changes in the economic environment. Our footprint and headcount reductions and organizational integration actions relate to discrete, unique restructuring events, primarily reflected in the following plans. In 2020, the Company committed to workforce reduction plans in the United States and globally, as part of the Company's continued cost reduction efforts. The workforce reduction plans included a voluntary retirement program, and other voluntary and involuntary severance actions. These actions are substantially complete. The Company has incurred $209 million in employee termination costs related to these actions through June 30, 2022. Cash settlement of $187 million has been paid to date with the remaining cash settlement of $22 million expected to be paid over the duration of 2022 and 2023. In addition, we ceased production in our Naples, Italy manufacturing plant and exited the facility in 2020. The collective dismissal procedure was completed in 2021. In connection with this action, we have incurred approximately $144 million total costs comprising $43 million in asset impairment costs, $26 million in other associated costs and $75 million in employee-related costs through June 30, 2022. Cash settlement of $97 million has been paid to date with the remaining nominal cash settlement to be paid in 2022. The following table summarizes the changes to our restructuring liability during the six months ended June 30, 2022:
Millions of dollars | December 31, 2021 | Charges to Earnings | Cash Paid | Non-Cash and Other | June 30, 2022
Employee termination costs | $ | 53 |  | $ | 2 |  | $ | (25) |  | $ | — |  | $ | 30 |
Asset impairment costs | 8 |  | 5 |  | — |  | (5) |  | 8 |
Facility exit costs | — |  | 1 |  | (1) |  | — |  | — |
Other exit costs | (4) |  | 2 |  | (2) |  | — |  | (4) |
Total | $ | 57 |  | $ | 10 |  | $ | (28) |  | $ | (5) |  | $ | 34 |
The following table summarizes the restructuring charges by operating segment for the periods presented:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Millions of dollars | 2022 | 2021 |  | 2022 | 2021
North America | $ | — |  | $ | — |  |  | $ | — |  | $ | — |
EMEA | 5 |  | 7 |  | 10 |  | 25
Latin America | — |  | — |  |  | — |  | — |
Asia | — |  | 1 |  | — |  | 2
Corporate / Other | — |  | — |  |  | — |  | 1
Total | $ | 5 |  | $ | 8 |  |  | $ | 10 |  | $ | 28 |

X
- 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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RestructuringChargesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration