The following table sets forth the components of the Company’s restructuring, asset-related, and other charges by segment for the years ended December 31, 2024, 2023 and 2022.



	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate			Total
Year Ended December 31, 2024
Employee separation charges:
2024 Restructuring Program	$	—	$	—		$	14		$	—	$	6		$	20
Titanium Technologies Transformation Plan		—		(1	)		—			—		—			(1	)
2023 Restructuring Program		—		—			—			—		—			—
Total employee separation charges		—		(1	)		14			—		6			19
Decommissioning and other charges:
2024 Restructuring Program		—		—			3			—		—			3
Titanium Technologies Transformation Plan		—		11			—			—		—			11
Total Decommissioning and other charges		—		11			3			—		—			14
Total restructuring and other charges		—		10			17			—		6			33
Asset-related charges:
2024 Restructuring Program		—		—			27			—		—			27
Total asset-related charges		—		—			27			—		—			27
Total restructuring, asset-related, and other charges	$	—	$	10		$	44		$	—	$	6		$	60

	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate			Total
Year Ended December 31, 2023
Employee separation charges:
Titanium Technologies Transformation Plan	$	—	$	21		$	—		$	—	$	—		$	21
2023 Restructuring Program		—		—			3			—		1			4
2022 Restructuring Programs		1		—			(1	)		—		(1	)		(1	)
ERP Implementation Abandonment Charges		—		—			—			—		1			1
Total employee separation charges		1		21			2			—		1			25
Decommissioning and other charges:
Titanium Technologies Transformation Plan		—		27			—			—		—			27
ERP Implementation Abandonment Charges		—		—			—			—		4			4
Total Decommissioning and other charges		—		27			—			—		4			31
Total restructuring and other charges		1		48			2			—		5			56
Asset-related charges:
Titanium Technologies Transformation Plan				77			—			—		1			78
ERP Implementation Abandonment Charges		—		—			—			—		11			11
Other asset-related charges		8		—			—			—		—			8
Total asset-related charges		8		77			—			—		12			97
Total restructuring, asset-related, and other charges	$	9	$	125		$	2		$	—	$	17		$	153

	Thermal & Specialized Solutions		Titanium Technologies			Advanced Performance Materials			Other Segment		Corporate			Total
Year Ended December 31, 2022
Employee separation charges	$	1	$	1		$	3		$	—	$	4		$	9
Decommissioning and other charges		—		—			—			2		—			2
Total restructuring and other charges		1		1			3			2		4			11
Asset-related charges		—		5			—			—		—			5
Total restructuring, asset-related, and other charges	$	1	$	6		$	3		$	2	$	4		$	16

In the third quarter of 2024, management initiated certain transformation initiatives principally within the Advanced Performance Materials business and certain Corporate functions to capture operational and commercial synergies and cost optimization. As part of these efforts, during the third quarter of 2024, the Company initiated additional cost savings programs that were largely attributable to further aligning the cost structure of the Company’s businesses and corporate functions with its financial objectives. As a result, during the year ended December 31, 2024, the Company recorded charges of $50, consisting of non-cash asset related charges of $27, employee separation charges of $20 and other charges of $3. The associated severance payments began in the third quarter of 2024 and are expected to be substantially completed by the second half of 2025. The $27 of asset related charges are based on decisions related to the write off of certain operating assets and associated construction-in-progress and other assets with no future intended use, as part of a strategic asset footprint transformation analysis within the Advanced Performance Materials business. The Company also expects to incur decommissioning and other charges of approximately $3 through 2026 which will be recognized as period costs as incurred.

On July 27, 2023, the Company announced the closure of its manufacturing site in Kuan Yin, Taiwan effective August 1, 2023, following the Company’s Board of Directors approval on July 26, 2023. The Company began shutting down production and started decommissioning the plant during the third quarter of 2023 and fully completed the shut-down during the fourth quarter of 2023. Decommissioning activities were completed in the second quarter of 2024 and dismantling began thereafter. Dismantling and removal activities are expected to be completed by the first quarter of 2025.

During the year ended December 31, 2024, the Company recorded of $11 of decommissioning, dismantling and other charges related to Kuan Yin, inclusive of a reduction in certain contract termination costs. Through December 31, 2024, the Company has recorded charges of approximately $130 consisting of asset-related impairments of $78, employee separation costs of $14, contract termination costs of $14 and decommissioning and other charges of $24. The associated severance payments were started in the fourth quarter 2023 and are expected to be substantially completed in the first quarter of 2025. For the year ended December 31, 2023, the Company also recorded $40 related to the write off of certain raw materials and stores inventories that can no longer be utilized following the production shutdown. This amount is recorded in Cost of Goods Sold in the Consolidated Statement of Operations.

As part of the Titanium Technologies Transformation Plan, following the plant closure, the segment also initiated an organizational redesign to further align its cost structure with its financial objectives. As a result, cumulative employee separation charges of $6 were recorded from inception through December 31, 2024. The employee separation and related payments were substantially completed in the fourth quarter of 2024. During the year ended December 31, 2024, the Company made total cash payments of $48 associated with the Titanium Technologies Transformation Plan, inclusive of severance payments, decommissioning, and other third-party fees.

In addition to the Titanium Technologies plans, in 2023, management also initiated additional severance programs to further align the cost structure of the Company’s businesses and corporate functions with its financial objectives. From inception through December 31, 2024, the Company has recorded cumulative employee separation charges of $4. The severance costs were recognized as follows: $3 in Advanced Performance Materials and $1 in Corporate. The program and related severance payments were substantially completed in the third quarter of 2024.

Management initiated a severance program in 2022 that was largely attributable to aligning the cost structure of the Company’s businesses and corporate functions with its strategic and financial objectives. From inception through December 31, 2024, the cumulative amount incurred for the Company's 2022 restructuring program amounted to $8 and the related payments were substantially completed in the fourth quarter of 2023.

During the first quarter of 2023, the Company decided to abandon its implementation of a new ERP software platform and recorded the following charges: $11 write-off of previously deferred software development costs determined to have no alternative use, $4 related to contract termination charges, and $1 of employee separation charges. Employee severance payments related to this charge were completed during the first quarter of 2024.

In the year ended December 31, 2023, the Company recorded an asset-related impairment of $8 resulting from the shutdown of a production line at the Company's El Dorado site.

In the year ended December 31, 2022, the Company recorded asset-related charges of $5 resulting from the conflict between Russia and Ukraine and the Company's decision to suspend its business with Russian entities.

With respect to the $14 of contract termination liabilities associated with the Titanium Technologies Transformation Plan, the Company paid $10 during the year and as such, at December 31, 2024 the Company had $4 remaining as an outstanding liability. There were no other significant outstanding liabilities related to the Company’s decommissioning and other restructuring-related charges at December 31, 2024 and 2023.