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Restructuring | 3 Months Ended
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Mar. 31, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring To better align its resources with its strategy and operating model and to reduce the cost structure of its global operations, the Company commits to restructuring plans as necessary and as follows: Organizational Realignment Plan In January 2024, the Company announced a plan to strengthen its front-end commercial capabilities, such as consumer understanding and brand communication, in support of the “where to play” and “how to win” strategy choices the Company unveiled in June of 2023 (the “Realignment Plan”). In addition to improving accountability, the Realignment Plan was designed to unlock operational efficiencies and cost savings, reduce complexity and free up funds for reinvestment. As part of the Realignment Plan, the Company has made several operating model changes, which entailed: standing up a cross-functional brand management organization, realigning business unit finance to fully support the new global brand management model, further simplifying and standardizing regional go-to-market organizations, and centralizing domestic retail sales teams, the digital technology team, business-aligned accounting personnel, the Manufacturing Quality team, and the Human Resources functions into the appropriate center-led teams to drive standardization, efficiency and scale with a One Newell approach. The Company has also further optimized the Company’s real estate footprint and pursued other cost reduction initiatives. These actions were primarily implemented by the end of 2024. Remaining actions, subject to applicable local law and consultation requirements are expected to be implemented by the end of fiscal year 2025. Restructuring and restructuring-related charges associated with these actions are estimated to be in the range of $75 million to $90 million mainly for severance payments and other termination benefits, office space reduction and consolidation, and other expenses. In connection with the Realignment Plan, the Company recorded restructuring and restructuring-related charges for the periods indicated as follows (in millions):
|  |  | Three Months Ended March 31, |  | Incurred since inception
|  |  |  |  | 2025 |  | 2024 |
Restructuring charges |  |  |  |  | $ | 11 |  |  | $ | 22 |  |  | $ | 48 |
Restructuring-related charges |  |  |  |  | 2 |  |  | — |  |  | 17 |
Total |  |  |  |  | $ | 13 |  |  | $ | 22 |  |  | $ | 65 |
Other Restructuring and Restructuring-Related Charges The Company also incurs other restructuring and restructuring-related charges in connection with various discrete initiatives as well as previously announced but substantially completed restructuring activities. Restructuring-related charges are recorded in cost of products sold and selling, general and administrative expenses (“SG&A”) in the Condensed Consolidated Statements of Operations based on the nature of the underlying charges incurred. The Company recorded restructuring charges, net and restructuring-related charges in connection with various discrete initiatives as well as previously announced but substantially completed restructuring activities for the periods indicated as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Restructuring costs |  |  |  |  | $ | — |  |  | $ | 4 |
Restructuring-related costs |  |  |  |  | 12 |  |  | 13 |
Total |  |  |  |  | $ | 12 |  |  | $ | 17 |
Restructuring charges, net incurred by reportable business segments for all restructuring activities for the periods indicated are as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Home and Commercial Solutions |  |  |  |  | $ | 1 |  |  | $ | 7 |
Learning and Development |  |  |  |  | 1 |  |  | 5 |
Outdoor and Recreation |  |  |  |  | 1 |  |  | 1 |
Corporate |  |  |  |  | 8 |  |  | 13 |
|  |  |  |  | $ | 11 |  |  | $ | 26 |
Accrued restructuring costs related to all restructuring activities for the three months ended March 31, 2025 were as follows (in millions):
Balance at December 31, 2024 |  | $ | 12 |
Restructuring costs, net |  | 11 |
Payments |  | (12) |
Balance at March 31, 2025 |  | $ | 11 |

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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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