RESTRUCTURING CHARGES AND SEPARATION COSTS (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

This table is inclusive of all restructuring charges in our segments and at Corporate, and the charges are shown below for the business where they originated. Separately, in our reported segment results, significant, higher-cost restructuring programs are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate.

RESTRUCTURING AND OTHER CHARGES	2023		2022		2021
Workforce reductions	$	392	$	281	$	568
Plant closures & associated costs and other asset write-downs	258		533		117
Acquisition/disposition net charges and other	56		30		(21)
Total restructuring and other charges	$	706	$	845	$	664
Cost of equipment/services	$	157	$	206	$	348
Selling, general and administrative expenses	549		669		390
Other (income) loss	—		(31)		(75)
Total restructuring and other charges	$	706	$	845	$	664
Aerospace	$	13	$	20	$	70
Renewable Energy	296		177		204
Power	107		155		369
Corporate	290		494		20
Total restructuring and other charges(a)	$	706	$	845	$	664
Restructuring and other charges cash expenditures(b)	$	508	$	415	$	683

(a) Includes $303 million, $366 million and $114 million primarily in non-cash impairment, accelerated depreciation and other charges for the years ended December 31, 2023, 2022 and 2021, respectively, not reflected in the liability table below.

(b) Primarily for employee severance payments, contract and lease terminations.

An analysis of changes in the liability for restructuring follows:

	2023		2022		2021
Balance at beginning of period	$	977	$	825	$	1,065
Additions	403		479		550
Payments	(351)		(310)		(570)
Remeasurement	(42)		15		(169)
Effect of foreign currency and other	(69)		(32)		(51)
Balance at December 31(a)	$	918	$	977	$	825

(a) Includes actuarial determined post-employment severance benefits reserve of $324 million, $348 million and $321 million as of December 31, 2023, 2022 and 2021, respectively.