Restructuring and Related Implementation Charges

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Implementation Charges

Restructuring and Related Implementation Charges

The Company’s targeted productivity program (the “2022 Global Productivity Initiative”) concluded on December 31, 2024. The 2022 Global Productivity Initiative resulted in the reallocation of resources towards the Company’s strategic priorities and faster growth businesses, efficiencies in the Company’s operations and the streamlining of its supply chain to reduce structural costs.

For the three months ended March 31, 2024, charges resulting from the 2022 Global Productivity Initiative are reflected in the income statement as follows:

	2024
Selling, general and administrative expenses	$	1
Other (income) expense, net	35
Total 2022 Global Productivity Initiative charges, pretax	$	36
Total 2022 Global Productivity Initiative charges, aftertax	$	30

Restructuring and related implementation charges are recorded in the Corporate segment as these initiatives were predominantly centrally directed and controlled and were not included in internal measures of segment operating performance.

The following table summarizes the activity for the restructuring accrual:

	Three Months Ended March 31, 2025
	Employee-Related Costs		Other		Total
Balance at December 31, 2024	34		10		$	44
Cash payments	(5)		(2)		(7)
Foreign exchange	2		—		2
Balance at March 31, 2025	$	31	$	8	$	39