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Restructuring | 12 Months Ended
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Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring The Company has engaged and expects to continue to engage in restructuring activities, which requires management to utilize significant estimates related to the timing and amount of severance and other employee separation costs for workforce reductions and other separation programs and other exit costs associated with restructuring activities. The Company's accrual for severance and other employee separation costs depends on whether the costs result from an ongoing severance plan or are one-time costs. The Company accounts for relevant expenses as severance costs when we have an established severance policy, statutory requirements dictate the severance amounts, or if our historical experience is to routinely provide certain benefits to impacted employees. The Company recognizes severance costs when it is probable that benefits will be paid and the amount can be reasonably estimated. The Company estimates one-time severance and other employee costs related to exit and disposal activities not resulting from an ongoing severance plan based on the benefits available to the employees being terminated. The Company recognizes these costs when we identify the specific classification or functions of the employees being terminated, notify the employees who might be included in the termination, and expect to terminate employees within the legally required notification period. When employees are receiving incentives to stay beyond the legally required notification period, we record the cost of their severance over the remaining service period. Restructuring costs incurred by reportable business segment for all restructuring activities for the years ended December 31, are as follows (in millions):
| 2022 |  | 2021 |  | 2020
Commercial Solutions | $ | 1 |  |  | $ | 4 |  |  | $ | 4 |
Home Appliances | 1 |  |  | 4 |  |  | 1 |
Home Solutions | 3 |  |  | 3 |  |  | 10 |
Learning and Development | 4 |  |  | 1 |  |  | 3 |
Outdoor and Recreation | 5 |  |  | 3 |  |  | 2 |
Corporate | 1 |  |  | 1 |  |  | 1 |
| $ | 15 |  |  | $ | 16 |  |  | $ | 21 |
Accrued restructuring costs activity for the year ended December 31, 2022 are as follows (in millions):
| Balance at December 31, 2021 |  | Restructuring Costs, Net |  | Payments |  |  |  |  |  | Balance at December 31, 2022
Severance and termination costs | $ | 8 |  |  | $ | 13 |  |  | $ | (14) |  |  |  |  |  |  | $ | 7 |
Contract termination and other costs | 2 |  |  | 2 |  |  | (4) |  |  |  |  |  |  | — |
| $ | 10 |  |  | $ | 15 |  |  | $ | (18) |  |  |  |  |  |  | $ | 7 |
Accrued restructuring costs activity for the year ended December 31, 2021 are as follows (in millions):
| Balance at December 31, 2020 |  | Restructuring Costs, Net |  | Payments |  |  |  | Foreign Currency and Other |  | Balance at December 31, 2021
Severance and termination costs | $ | 7 |  |  | $ | 13 |  |  | $ | (12) |  |  |  |  | $ | — |  |  | $ | 8 |
Contract termination and other costs | 4 |  |  | 3 |  |  | (4) |  |  |  |  | (1) |  |  | 2 |
| $ | 11 |  |  | $ | 16 |  |  | $ | (16) |  |  |  |  | $ | (1) |  |  | $ | 10 |
2020 Restructuring Plan The Company’s 2020 restructuring program, which was substantially complete at the end of 2021, was designed to reduce overhead costs, streamline certain underperforming operations and improve future profitability. The restructuring costs, which impacted all segments, include employee-related costs, including severance and other termination benefits. In connection with the 2020 restructuring program, the Company incurred cumulative charges of $29 million since inception, $10 million and $19 million for the years ended December 31, 2021 and 2020, respectively. Other Restructuring and Restructuring-Related Costs The Company regularly incurs other restructuring and restructuring-related costs in connection with various discrete initiatives, including certain costs associated with Project Ovid, the multi-year, customer centric supply chain initiative to transform the Company’s go-to-market capabilities in the U.S., improve customer service levels and drive operational efficiencies. Restructuring-related costs are recorded in cost of products sold and SG&A in the Consolidated Statements of Operations based on the nature of the underlying costs incurred. During the years ended December 31, 2022, 2021 and 2020, the Company recorded other restructuring charges of $15 million, $6 million and $2 million, respectively. Project Phoenix In January 2023, the Company announced a restructuring and savings initiative (“Project Phoenix”) that is intended to strengthen the Company by leveraging its scale to further reduce complexity, streamlining its operating model and driving operational efficiencies. Project Phoenix is expected to be substantially implemented by the end of 2023 and incorporates a variety of initiatives designed to simplify the organizational structure, streamline the Company’s real estate portfolio, centralize the Company’s supply chain functions, which include manufacturing, distribution, transportation and customer service, transition to a unified One Newell go-to-market model in key international geographies, and otherwise reduce overhead costs. The Company commenced reducing headcount in the first quarter 2023, with most of these actions expected to be completed by the end of 2023, subject to local law and consultation requirements. The Company estimates that it will incur approximately $100 million to $130 million in restructuring and restructuring-related charges in connection with Project Phoenix, substantially all of which are expected to be incurred by the end of fiscal 2023. These charges consist primarily of $80 million to $105 million in charges related to severance payments and other termination benefits; $15 million to $20 million in charges associated with office space reductions; and approximately $5 million of other charges, including those associated with employee transition and legal costs. The Company expects approximately $95 million to $120 million of the total aggregate charges will be cash expenditures. No charges associated with Project Phoenix were recorded in 2022.

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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 -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
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