BUSINESS OPTIMIZATION CHARGES (Tables)

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Summary of Business Optimization Charges

During the three and six months ended June 30, 2024 and 2023, we recorded the following charges related to business optimization programs.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2024		2023		2024		2023
Restructuring charges	$	9	$	287	$	56	$	397
Costs to implement business optimization programs	11		6		21		30
Total business optimization charges	$	20	$	293	$	77	$	427

Components of Restructuring Charges

During the three and six months ended June 30, 2024 and 2023, we recorded the following restructuring charges.

	Three months ended June 30, 2024
(in millions)	COGS		SG&A		R&D		Total
Employee termination costs	$	(2)	$	3	$	(3)	$	(2)
Contract termination and other costs	3		—		—		3
Asset impairments	8		—		—		8
Total restructuring charges	$	9	$	3	$	(3)	$	9

	Three months ended June 30, 2023
(in millions)	COGS		SG&A		R&D		Total
Employee termination costs	$	9	$	19	$	—	$	28
Contract termination and other costs	—		2		—		2
Asset impairments	257		—		—		257
Total restructuring charges	$	266	$	21	$	—	$	287

	Six months ended June 30, 2024
(in millions)	COGS		SG&A		R&D		Total
Employee termination costs	$	3	$	18	$	13	$	34
Contract termination and other costs	4		5		—		9
Asset impairments	13		—		—		13
Total restructuring charges	$	20	$	23	$	13	$	56

	Six months ended June 30, 2023
(in millions)	COGS		SG&A		R&D		Total
Employee termination costs	$	26	$	82	$	7	$	115
Contract termination and other costs	3		2		—		5
Asset impairments	269		8		—		277
Total restructuring charges	$	298	$	92	$	7	$	397

Summary of Activity in Reserves Related to Restructuring Initiatives

The following table summarizes activity in the liability related to our restructuring initiatives.

(in millions)
Liability balance as of December 31, 2023	$	128
Charges	60
Payments	(64)
Reserve adjustments	(17)
Currency translation	7
Liability balance as of June 30, 2024	$	114