Restructuring and Other Charges, Net (Tables)

6 Months Ended

Mar. 29, 2024

Restructuring and Other Charges, Net

Schedule of net restructuring and other charges

	For the				For the
	Quarters Ended				Six Months Ended
	March 29,		March 31,		March 29,		March 31,
	2024		2023		2024		2023
	(in millions)
Restructuring charges, net	$	32	$	62	$	41	$	166
Impairment of held for sale businesses and (gain) loss on divestitures, net		—		56		11		62
Costs related to change in place of incorporation		8		—		8		—
Other charges, net		—		1		1		2
Restructuring and other charges, net	$	40	$	119	$	61	$	230

Net restructuring and related charges by segment

	For the				For the
	Quarters Ended				Six Months Ended
	March 29,		March 31,		March 29,		March 31,
	2024		2023		2024		2023
	(in millions)
Transportation Solutions	$	15	$	18	$	17	$	92
Industrial Solutions		10		36		16		42
Communications Solutions		7		8		8		32
Restructuring charges, net	$	32	$	62	$	41	$	166

Summary of activity in restructuring reserves

	Balance at												Balance at
	September 29,				Changes in		Cash		Non-Cash		Currency		March 29,
	2023		Charges		Estimate		Payments		Items		Translation		2024
	(in millions)
Fiscal 2024 Actions:
Employee severance	$	—	$	11	$	—	$	(2)	$	—	$	—	$	9
Fiscal 2023 Actions:
Employee severance		187		9		(8)		(42)		—		4		150
Facility and other exit costs		2		5		—		(7)		—		—		—
Property, plant, and equipment		—		6		—		—		(6)		—		—
Total		189		20		(8)		(49)		(6)		4		150
Pre-Fiscal 2023 Actions:
Employee severance		127		2		1		(44)		—		3		89
Facility and other exit costs		4		14		—		(8)		—		—		10
Property, plant, and equipment		—		1		—		—		(1)		—		—
Total		131		17		1		(52)		(1)		3		99
Total Activity	$	320	$	48	$	(7)	$	(103)	$	(7)	$	7	$	258

Restructuring reserves included on Consolidated Balance Sheets

	March 29,		September 29,
	2024		2023
	(in millions)
Accrued and other current liabilities	$	198	$	240
Other liabilities		60		80
Restructuring reserves	$	258	$	320

Fiscal 2023 Actions

Restructuring and Other Charges, Net

Schedule of expected, incurred and remaining charges by segment

The following table summarizes expected, incurred, and remaining charges for the fiscal 2023 program by segment as of March 29, 2024:

	Total		Cumulative		Remaining
	Expected		Charges		Expected
	Charges		Incurred		Charges
	(in millions)
Transportation Solutions	$	155	$	146	$	9
Industrial Solutions		83		79		4
Communications Solutions		35		34		1
Total	$	273	$	259	$	14