Restructuring and Other (Credits) Charges

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Other (Credits) Charges

Restructuring and Other (Credits) Charges

	First quarter ended
	March 31,
	2025		2024
Reversals of previously recorded layoff reserves	(1)		—
Net gain related to divestitures of assets and businesses	(3)		(1)
Other	—		1
Total restructuring and other (credits) charges	$	(4)	$	—

In the first quarter of 2025, the Company recorded Restructuring and other credits of $4, which were primarily due to a gain on the sale of assets at a small U.K. manufacturing facility in Engineered Structures of $3 and a reversal of $1 for a layoff reserve related to a prior period.

In the first quarter of 2024, the Company recorded Restructuring and other charges of less than $1, which were primarily due to a gain on the sale of assets at a small U.K. manufacturing facility in Engines Products of $1, partially offset by exit related costs, including accelerated depreciation, of $1.

	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2024	$	4	$	—	$	4
Cash payments	—		(1)		(1)
Restructuring credits	(1)		(3)		(4)
Other(1)	—		4		4
Reserve balances at March 31, 2025	$	3	$	—	$	3

(1)In the first quarter of 2025, other for other exit costs included a gain on the sale of assets at a small U.K. manufacturing facility in Engineered Structures of $3 and a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $1.

The remaining reserves as of March 31, 2025 are expected to be paid in cash during the remainder of 2025.