v3.20.4

Restructuring Charges

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

At each reporting date, we evaluate our restructuring liabilities, which consist primarily of termination benefits, to ensure that our accruals are still appropriate. In the fourth quarter of 2020, we recognized $38 million of employee severance costs in our restructuring liabilities, which was primarily related to specific targeted actions. During 2019 and 2018, there were no new significant restructuring programs.

The following table presents the changes in the position of restructuring liabilities in 2020:

			Balance January 1, 2020						Additions						Utilized						Released						Other changes(1)						Balance December 31, 2020
Restructuring liabilities			32						77						(36)						—						1						74

(1)    Other changes primarily related to translation differences and internal transfers.

The total restructuring liability as of December 31, 2020 of $74 million is classified in the Consolidated Balance Sheets under current liabilities ($60 million) and non-current liabilities ($14 million).

The utilization of the restructuring liabilities mainly reflects the execution of ongoing restructuring programs the Company initiated in earlier years.

The following table presents the changes in the position of restructuring liabilities in 2019:

			Balance January 1, 2019						Additions						Utilized						Released						Other changes(1)						Balance December 31, 2019
Restructuring liabilities			65						29						(57)						(4)						(1)						32

(1)    Other changes primarily related to translation differences and internal transfers.

The total restructuring liability as of December 31, 2019 of $32 million is classified in the Consolidated Balance Sheets under current liabilities.

The utilization of the restructuring liabilities mainly reflects the execution of ongoing restructuring programs the Company initiated in earlier years.

The components of restructuring charges recorded in 2020, 2019 and 2018 are as follows:

			2020						2019						2018
Personnel lay-off costs			78						32						4
Other exit costs			—						—						2
Release of provisions/accruals			—						(4)						—
Net restructuring charges			78						28						6

The restructuring charges recorded in operating income are included in the following line items in the statement of operations:

			2020						2019						2018
Cost of revenue			15						3						—
Research & development			39						16						—
Selling, general and administrative			24						9						7
Other (income) expense			—						—						(1)
Net restructuring charges			78						28						6

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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