Restructuring Charges and Other Costs Associated with Acquisitions and Cost-Reduction/Productivity Initiatives (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of costs incurred in connection with restructuring initiatives, acquisitions and cost-reduction/productivity initiatives are as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(MILLIONS OF DOLLARS)	2023		2022		2023		2022
Restructuring charges and certain acquisition-related costs:
Integration costs(a)	$	1	$	1	$	2	$	3
Transaction costs(b)	2		—		2		—
Restructuring charges(c):
Employee termination costs	5		—		25		—
Total Restructuring charges and certain acquisition-related costs	$	8	$	1	$	29	$	3

(a)    Integration costs represent external, incremental costs directly related to integrating acquired businesses and primarily include expenditures for consulting and the integration of systems and processes, as well as product transfer costs.

(b)    Transaction costs represent external costs directly related to acquiring businesses and primarily includes expenditures for banking, legal, accounting and other similar services.

(c)    The restructuring charges for the three and six months ended June 30, 2023 primarily consisted of employee termination costs related to organizational structure refinements.

(MILLIONS OF DOLLARS)	Accrual
Balance, December 31, 2022(a)	$	15
Provision	25
Utilization and other(b)	(7)
Balance, June 30, 2023(a)	$	33

(a)     At June 30, 2023 and December 31, 2022, included in Accrued expenses ($24 million and $5 million, respectively) and Other noncurrent liabilities ($9 million and $10 million, respectively).

(b)     Includes adjustments for foreign currency translation.