Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2021

Restructuring Charges [Abstract]

Restructuring and related costs

Restructuring costs for the three and six months ended June 30, 2021 and 2020 were as follows:

(Millions of dollars)	Three Months Ended June 30				Six Months Ended June 30
	2021		2020		2021		2020
Employee separations 1	$	17	$	123	$	62	$	134
Contract terminations 1	—		2		—		3
Long-lived asset impairments 1	(7)		14		4		23
Other 2	15		8		23		24
Total restructuring costs	$	25	$	147	$	89	$	184
1 Recognized in Other operating (income) expenses.
2 Represents costs related to our restructuring programs, primarily for accelerated depreciation, equipment relocation, project management and inventory write-downs, all of which are primarily included in Cost of goods sold.

Restructuring costs included in segment profit were as follows:

	Three Months Ended June 30				Six Months Ended June 30
(Millions of dollars)	2021		2020		2021		2020
Construction Industries	$	—	$	4	$	—	$	5
Resource Industries	—		15		—		16
Energy & Transportation	—		17		—		21
Financial Products Segment	—		1		—		1

Summary of separation activity

The following table summarizes the 2021 and 2020 employee separation activity:

(Millions of dollars)	Six Months Ended June 30
	2021		2020
Liability balance, beginning of period	$	164	$	48
Increase in liability (separation charges)	62		134
Reduction in liability (payments)	(82)		(95)
Liability balance, end of period	$	144	$	87