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RESTRUCTURING CHARGES | 3 Months Ended
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Mar. 31, 2024
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 March 2024, the Company committed to workforce reduction plans in the United States and globally, in an effort to reduce complexity and simplify our organizational model after the European major domestic appliance transaction. The workforce reduction plans included involuntary severance actions as of the end of the first quarter of 2024. Total expected costs for these actions is $23 million, of which we have incurred $14 million in employee termination costs and $9 million other associated costs within the first quarter. All of these costs will result in cash settlements primarily in 2024. The Company is currently evaluating certain follow-on restructuring actions for the remainder of 2024. The following table summarizes the changes to our restructuring liability during the three months ended March 31, 2024:
Millions of Dollars | December 31, 2023 | Charge to Earnings | Cash Paid | Non-Cash and Other | March 31, 2024
Employee Termination | $ | 10 |  | $ | 14 |  | $ | (14) |  | $ | — |  | $ | 10 |
Other exit costs | — |  | 9 |  | — |  | — |  | 9 |
Total | $ | 10 |  | $ | 23 |  | $ | (14) |  | $ | — |  | $ | 19 |
The following table summarizes the restructuring charges by operating segment and Corporate for the periods presented:
Millions of dollars | Three Months Ended March 31 |  |
2024 | 2023 |  |  |
MDA North America | $ | 4 |  | $ | — |  |  |  |
MDA Latin America | 3 |  | — |  |  |  |
MDA Asia | 1 |  | — |  |  |  |
Corporate/Other | 15 |  | — |  |  |  |
Total | $ | 23 |  | $ | — |  |  |  |

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