Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges

Restructuring and other charges were comprised of the following:

For the year ended December 31,	2020		2019		2018
Layoff costs	$	113	$	69	$	18
Reversals of and adjustments to previously recorded layoff reserves	(21)		(6)		(8)
Pension, Other post-retirement benefits (costs) and deferred compensation - net settlement and curtailments	69		(7)		91
Non-cash asset impairments (O)	5		442		9
Net loss on divestitures of assets and businesses (U)	8		63		43
Other	8		21		10
Restructuring and other charges	$	182	$	582	$	163

Schedule of Restructuring and Other Charges by Reportable Segments, Pretax

Activity and reserve balances for restructuring charges were as follows:

	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2017	$	33	$	—	$	33
2018 Activity
Cash payments	(30)		—		(30)
Restructuring and other charges	101		62		163
Other(1)	(91)		(53)		(144)
Reserve balances at December 31, 2018	$	13	$	9	$	22
2019 Activity
Cash payments	$	(63)	$	—	$	(63)
Restructuring and other charges	58		524		582
Other(2)	5		(533)		(528)
Reserve balances at December 31, 2019	$	13	$	—	$	13
2020 Activity
Cash payments	$	(51)	$	—	$	(51)
Restructuring and other charges	161		21		182
Other(3)	(69)		(21)		(90)
Reserve balances at December 31, 2020	$	54	$	—	$	54

(1)In 2018, Other for layoff costs included reclassifications of $119 in settlement and curtailment pension costs and a $28 benefit in postretirement benefits, as the impacts were reflected in the Company's separate liabilities for Accrued pension benefits and Accrued postretirement benefits. In 2018, Other exit costs included a $43 loss on sale of the Hungary forgings business; a $9 charge for contract termination costs associated with the shutdown of a facility in Acuna, Mexico and the New York office; a $4 charge for other miscellaneous items including accelerated depreciation and asset impairments; a $3 benefit for other exit costs.

(2)In 2019, Other for layoff costs included reclassifications of a $16 credit for elimination of life insurance benefits for U.S. salaried and non-bargaining hourly retirees, a charge of $9 for pension plan settlement accounting, as the impacts were reflected in the Company's separate liabilities for Accrued pension benefits and Accrued postretirement benefits; a charge of $2 net charge for executive severance net of the benefit of forfeited executive stock compensation. In 2019, Other exit costs included a charge of $428 for impairment of the Disks long-lived asset group; a charge of $59 for impairment of assets associated with agreement to sell the U.K. forgings business, and a small additive business; a charge of $14 for impairment of properties, plants, and equipment related to the Company’s primary research and development facility; a charge of $12 for lease terminations; $5 charge for impairment of a cost method investment, a charge of $7 related to other miscellaneous items and $9 reclassification of lease exit costs to reduce right of use assets in Other Noncurrent assets in accordance with the adoption of the new lease accounting standard; partially offset by a gain of $1 on the sales of assets.

(3)In 2020, Other for layoff costs included $74 in settlement accounting charges related to U.K. and U.S. pension plans, offset by a $3 benefit from the termination of a deferred compensation plan and a $2 curtailment benefit related to a postretirement plan; while Other exit costs included a charge of $5 for impairment of assets; a $5 post-closing adjustment related to the sale of a business; a $5 charge related to the impairment of a cost method investment; a $2 charge for accelerated depreciation; a $1 charge for impairment of assets due to a facility closure and a $6 charge for various other exit costs, which were offset by a gain of $3 on the sale of assets.