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Note 2 - Restructuring, Impairment and Other Charges and Credits - Restructuring, Impairment and Other Charges and Credits Reflected on Consolidated Statement of Income (Loss) (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Severance (1) [1] $ 43 $ 13 $ 46 $ 91
Capacity realignment (1) [1] 16 49 133 92
Other charges and credits (2) [2] 75 10 84 92
Total restructuring, impairment and other charges and credits (3) [3] $ 134 $ 72 $ 263 $ 275
[1] For the three and nine months ended September 30, 2024, amounts primarily relate to asset write-offs and severance charges 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.