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Business Realignment and Acquisition Integration Charges
 12 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Business Realignment and Acquisition Integration Charges Business Realignment and Acquisition Integration Charges
The Company incurred business realignment and acquisition integration charges in 2024, 2023 and 2022. Business realignment charges included severance costs related to actions taken under the Company's simplification initiative aimed at reducing organizational and process complexity, as well as plant closures. In 2024, 2023 and 2022, a majority of the business realignment charges were incurred in Europe. We believe the realignment actions will positively impact future results of operations but will not have a material effect on liquidity and sources and uses of capital.
Business realignment charges by business segment are as follows:
202420232022
Diversified Industrial$50,075 $23,641 $13,787 
Aerospace Systems319 3,065 967 
Other (income) expense, net3,062 — 3 
Workforce reductions in connection with such business realignment charges by business segment are as follows:
202420232022
Diversified Industrial1,064 728 300 
Aerospace Systems1 30 10 

The business realignment charges are presented in the Consolidated Statement of Income as follows:
202420232022
Cost of sales$29,585 $15,993 $5,007 
Selling, general and administrative expenses20,809 10,713 9,747 
Loss (gain) on sale of businesses and assets, net3,062 — 3 
During 2024, approximately $49 million in payments were made relating to business realignment charges. Remaining payments related to current-year and prior-year business realignment actions of approximately $14 million, a majority of which are expected to be paid by December 31, 2024, are primarily reflected within the accrued payrolls and other compensation and other accrued liabilities captions in the Consolidated Balance Sheet. Additional charges may be recognized in future periods related to the business realignment and acquisition integration actions described above, the timing and amount of which are not known at this time.
In addition to the business realignment charges discussed above, in 2022, we incurred $20 million of expense as a result of our exit of business operations in Russia. These charges primarily consist of write-downs of inventory and other working capital items and $8 million of foreign currency translation expense reclassified from accumulated other comprehensive income. Within the business segment information in Note 19, $7 million of expense was recorded in other (income) expense, net while the remainder of the charge was split evenly between the Aerospace Systems Segment and the international businesses within the Diversified Industrial Segment.
We also incurred acquisition integration charges related to the Meggitt and Lord acquisitions. Charges by business segment are as follows:
 202420232022
Diversified Industrial$3,930 $8,511 $3,589 
Aerospace Systems34,343 86,928 1,177 
In both 2024 and 2023, acquisition integration charges relate to the acquisition of Meggitt. In 2022, charges within the Diversified Industrial and Aerospace Systems Segment relate to the acquisitions of Lord and Meggitt, respectively. These charges were primarily included in selling, general and administrative expenses within the Consolidated Statement of Income.