Restructuring and Related Implementation Charges

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Implementation Charges

On July 31, 2025, the Company’s Board of Directors approved a new three-year productivity program to drive future growth and support the Company’s 2030 strategy (the "Productivity Program"). The program includes initiatives to better align the Company’s organizational structure to support its strategic initiatives, optimize the Company’s global supply chain to drive agility and efficiencies and simplify and streamline its organizational structure to reduce overhead costs. The Productivity Program is projected to result in cumulative pre-tax charges, once all initiatives are approved and implemented, totaling between $200 and $300 over the course of the three-year program. It is expected that substantially all charges resulting from the Productivity Program will be incurred by December 31, 2028.

2022 Global Productivity Initiative

The Company’s prior 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 six months ended June 30, 2024, charges resulting from the 2022 Global Productivity Initiative are reflected in the income statement as follows:



	2024
Gross Profit	$	9
Selling, general and administrative expenses	3
Other (income) expense, net	51

Total 2022 Global Productivity Initiative charges, pretax	$	63

Total 2022 Global Productivity Initiative charges, aftertax	$	53

Restructuring and related implementation charges were 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:


	Six Months Ended June 30, 2025
	Employee-Related Costs		Other		Total
Balance at December 31, 2024	34		10		$	44

Cash payments	(10)		(3)		(13)

Foreign exchange	5		—		5

Balance at June 30, 2025	$	29	$	7	$	36