ACCRUED LIABILITIES

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

ACCRUED LIABILITIES

The carrying value of “Accrued liabilities” on the Consolidated Balance Sheets includes the following components (in millions):

	December 31, 2023		December 31, 2024
Payroll and related costs	$	328	$	167
Capital expenditures	263		306
Inventory	241		119
Other products and services	169		93
Other	144		150
Total accrued liabilities	$	1,145	$	835

During the years ended December 31, 2022, 2023 and 2024, certain restructuring actions occurred in order to reduce costs and improve efficiency. As a result, $39 million, $38 million, and $48 million of severance expenses were recognized during the years ended December 31, 2022, 2023 and 2024, respectively. Accrued liabilities for severance expenses were not material as of December 31, 2024.