Restructuring Costs (Tables)

9 Months Ended

Sep. 30, 2021

Restructuring Charges [Abstract]

Restructuring and related costs

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

(Millions of dollars)	Three Months Ended September 30				Nine Months Ended September 30
	2021		2020		2021		2020
Employee separations 1	$	17	$	98	$	79	$	232
Contract terminations 1	1		—		1		3
Long-lived asset impairments 1	8		2		12		25
Other 2	9		12		32		36
Total restructuring costs	$	35	$	112	$	124	$	296
1 Recognized in Other operating (income) expenses.
2 Represents costs related to our restructuring programs, primarily for accelerated depreciation, inventory write-downs, equipment relocation and project management, all of which are primarily included in Cost of goods sold.

Restructuring costs included in segment profit were as follows:

	Three Months Ended September 30				Nine Months Ended September 30
(Millions of dollars)	2021		2020		2021		2020
Construction Industries	$	—	$	2	$	—	$	7
Resource Industries	—		2		—		18
Energy & Transportation	—		18		—		39
Financial Products Segment	—		1		—		2

Summary of separation activity

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

(Millions of dollars)	Nine Months Ended September 30
	2021		2020
Liability balance, beginning of period	$	164	$	48
Increase in liability (separation charges)	79		232
Reduction in liability (payments)	(159)		(131)
Liability balance, end of period	$	84	$	149