Restructuring and Other Charges

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring and Other Charges

	Second quarter ended				Six months ended
	June 30,				June 30,
	2022		2021		2022		2021
Layoff costs	$	—	$	2	$	—	$	2
Reversals of previously recorded layoff reserves	—		(2)		(1)		(1)
Pension and Other post-retirement benefits - net settlements (E)	3		3		4		6
Non-cash asset impairments	—		4		—		4
Net loss related to divestitures of assets and businesses (P)	—		—		—		4
Other	3		(2)		5		(1)
Restructuring and other charges	$	6	$	5	$	8	$	14

In the second quarter of 2022, the Company recorded Restructuring and other charges of $6, which were primarily due to

charges for U.S. pension plan settlements of $3 and exit related costs, including accelerated depreciation, of $3.

In the six months ended June 30, 2022, the Company recorded Restructuring and other charges of $8, which were primarily due to exit related costs, including accelerated depreciation, of $5 and charges for U.S. pension plan settlements of $4, partially offset by a reversal of $1 for a layoff reserve related to a prior period.

In the second quarter and six months ended June 30, 2021, the Company recorded Restructuring and other charges of $5 and $14, respectively, which was primarily due to charges for pension plan settlements and exit related costs.

	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2021	$	17	$	2	$	19
Cash payments	(8)		(4)		(12)
Restructuring charges	3		5		8
Other(1)	(4)		(1)		(5)
Reserve balances at June 30, 2022	$	8	$	2	$	10

(1)In the six months ended June 30, 2022, Other for layoff costs included a $4 charge for U.S. pension plan settlements and Other exit costs included a $1 charge for accelerated depreciation.

The majority of the layoff cost and other exit cost reserves is expected to be paid in cash during 2022 and 2023, with small amounts to be paid through 2024.