Restructuring, Asset Impairment and Other Related Charges (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Incurred and Further Charges in Future Periods Due to Restructuring Plan

As a result of the Beverage Merchandising Restructuring, we incurred charges during the three and six months ended June 30, 2023, and we estimate we will incur further charges in future periods, as follows:

	For the Three Months Ended June 30, 2023		For the Six Months Ended June 30, 2023		Total Expected Charges(1)
Non-cash:
Accelerated property, plant and equipment depreciation	$	177	$	267	$	280
Other non-cash charges(2)		10		43	45 - 50
Total non-cash charges		187		310	325 - 330
Cash:
Severance, termination and related costs		7		39		45
Exit, disposal and other transition costs(3)		22		54	85 - 115
Total cash charges		29		93	130 - 160
Total Beverage Merchandising Restructuring charges	$	216	$	403	$ 455 - 490

Summary of Restructuring, Asset Impairment and Other Related Charges

he Beverage Merchandising Restructuring charges and other restructuring and asset impairment charges (net of reversals) were classified on our condensed consolidated statements of (loss) income as follows by segment:

	Food and Beverage Merchandising		Other		Total
For the Three Months Ended June 30, 2023
Cost of sales	$	182	$	—	$	182
Selling, general and administrative expenses		3		—		3
Restructuring, asset impairment and other related charges		29		3		32
Total	$	214	$	3	$	217
For the Six Months Ended June 30, 2023
Cost of sales	$	294	$	—	$	294
Selling, general and administrative expenses		4		—		4
Restructuring, asset impairment and other related charges		98		7		105
Total	$	396	$	7	$	403

During the three and six months ended

The following table summarizes the changes to our restructuring liability related to the Beverage Merchandising Restructuring during the six months ended June 30, 2023:

	December 31, 2022		Charges to Earnings		Cash Paid			June 30, 2023
Severance, termination and related costs	$	—	$	39	$	(22	)	$	17
Exit, disposal and other transition costs		—		54		(21	)		33
Total(1)	$	—	$	93	$	(43	)	$	50

(1)Included $44 million classified within accrued and other current liabilities and $6 million classified within other non-current liabilities as of June 30, 2023.