Restructuring Charges and Other Costs Associated with Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of costs incurred in connection with restructuring initiatives, acquisitions and divestitures are as follows:

	Three Months Ended
	March 31,
(MILLIONS OF DOLLARS)	2025		2024
Restructuring charges and certain acquisition and divestiture-related costs:
Restructuring charges, net(a):
Employee termination costs, net	$	—	$	4
Total Restructuring charges and certain acquisition and divestiture-related costs	$	—	$	4

(a) The restructuring charges for the three months ended March 31, 2024 primarily consisted of employee termination costs related to organizational structure refinements, partially offset by a reversal of certain employee termination costs as a result of a change in strategy from our 2015 operational efficiency initiative.

The change in our restructuring accrual is as follows:

(MILLIONS OF DOLLARS)	Accrual
Balance, December 31, 2024(a)	$	28
Utilization and other(b)	(8)
Balance, March 31, 2025(a)	$	20

(a)     At March 31, 2025 and December 31, 2024, included in Accrued expenses ($18 million and $26 million, respectively) and Other noncurrent liabilities ($2 million).

(b)     Includes adjustments for foreign currency translation.