Note 2 - Restructuring, Impairment and Other Charges and Credits

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

2. Restructuring, Impairment and Other Charges and Credits

The following table presents details of the restructuring, impairment and other charges and credits incurred (in millions):

	Three months ended				Nine months ended
	September 30,				September 30,
	2024		2023		2024		2023
Severance (1)	$	43	$	13	$	46	$	91
Capacity realignment (1)		16		49		133		92
Other charges and credits (2)		75		10		84		92
Total restructuring, impairment and other charges and credits (3)	$	134	$	72	$	263	$	275

(1)	For the three and nine months ended September 30, 2024, amounts primarily relate to severance charges and non-cash asset write-offs associated with the closure of a display technologies manufacturing plant. Should the entity be substantially liquidated, the Company expects to recognize approximately $50 million of non-cash cumulative foreign currency translation losses in other (loss) income, net in the consolidated statements of (loss) income.
(2)	For the three and nine months ended September 30, 2024, amounts primarily relate to the recognition of $62 million of non-cash cumulative foreign currency translation losses related to the substantial liquidation of an optical communications manufacturing plant which was recorded in other (loss) income, net in the consolidated statements of (loss) income.
(3)	Amounts recorded in cost of sales in the consolidated statements of (loss) income were $47 million and $168 million for the three and nine months ended September 30, 2024, respectively, and $63 million and $196 million for the three and nine months ended September 30, 2023, respectively.