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Restructuring and Other Charges (Tables)
12 Months Ended
Dec. 31, 2025
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 31,202520242023
Layoff costs$$10 $
Net reversals of previously recorded layoff reserves(3)(3)(1)
Pension and other post-retirement benefits - net settlements (G)
89 — 
Non-cash asset impairments and accelerated depreciation— 14 
Net (gains) loss related to divestitures of assets and businesses(6)12 (1)
Other— 
Total restructuring and other charges$84 $21 $23 
Schedule of Restructuring and Other Charges by Reportable Segments, Pretax
Activity and reserve balances for restructuring charges were as follows:
Layoff
costs
Other
exit costs
Total
Reserve balances at December 31, 2022
$$$
2023 Activity
Cash payments(3)(3)(6)
Restructuring and other charges16 23 
Other(1)
(5)(13)(18)
Reserve balances at December 31, 2023
$$$
2024 Activity
Cash payments$(8)$(2)$(10)
Restructuring and other charges14 21 
Other(2)
— (14)(14)
Reserve balances at December 31, 2024
$$— $
2025 Activity
Cash payments$(3)$(2)$(5)
Restructuring and other charges (credits)89 (5)84 
Other(3)
(89)(82)
Reserve balances at December 31, 2025
$$— $
(1)In 2023, other for layoff costs included $5 in settlement accounting charges related to U.S. and Canadian pension plans; while other for other exit costs included charges of $12 related to the impairment of assets and a $2 charge for accelerated depreciation which was offset by a gain of $1 on the sale of assets.
(2)In 2024, other for other exit costs included a net loss of $13 on the sale of a small U.K. manufacturing facility and a charge of $2 for accelerated depreciation, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $1.
(3)In 2025, other for layoff costs included $89 in settlement accounting charges related to U.K. and Canadian pension plans; while other for other exit costs 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 gain on the sale of assets at a previously closed facility in Forged Wheels of $2.
The remaining reserves as of December 31, 2025 are expected to be paid in cash during 2026.