The Company’s restructuring activities are undertaken as necessary to execute management’s strategy and streamline operations, consolidate and take advantage of available capacity and resources, and ultimately achieve net cost reductions. Restructuring activities include efforts to integrate and rationalize the Company’s business and to relocate operations to best-cost locations.

The Company’s restructuring expenses consist primarily of employee termination benefits (principally severance and/or other termination benefits) and other costs, which are primarily professional fees and costs related to facility closures and exits.


(in millions)	Air Management		Drivetrain & Battery Systems		ePropulsion		Corporate		Total
Year ended December 31, 2023
Employee termination benefits	$	67	$	2	$	1	$	—	$	70
Other	7		2		—		—		9
Total restructuring expense	$	74	$	4	$	1	$	—	$	79

Year ended December 31, 2022
Employee termination benefits	$	24	$	14	$	—	$	—	$	38
Other	—		9		1		—		10
Total restructuring expense	$	24	$	23	$	1	$	—	$	48

Year ended December 31, 2021
Employee termination benefits	$	34	$	11	$	—	$	—	$	45
Other	18		36		7		2		63
Total restructuring expense	$	52	$	47	$	7	$	2	$	108

The following table displays a roll forward of the restructuring liability recorded within the Company’s Consolidated Balance Sheets and the related cash flow activity:


(in millions)	Employee termination benefits		Other		Total
Balance at January 1, 2022	$	66	$	13	$	79
Restructuring expense, net	38		10		48
Cash payments	(58)		(19)		(77)
Foreign currency translation adjustment and other	(7)		5		(2)
Balance at December 31, 2022	39		9		48
Restructuring expense, net	70		9		79
Cash payments	(43)		(13)		(56)
Foreign currency translation adjustment and other	2		2		4
Balance at December 31, 2023	$	68	$	7	$	75
Less: Non-current restructuring liability	7		—		7
Current restructuring liability at December 31, 2023	$	61	$	7	$	68

2023 Structural Costs Plan In 2023, the Company announced a $130 million to $150 million restructuring plan to address structural costs in its Foundational products businesses. During the year ended December 31, 2023, the Company recorded $79 million of restructuring costs related to this plan.

2020 Structural Costs Plan In February 2020, the Company announced a $300 million restructuring plan to address existing structural costs. The actions under this plan are complete.

2019 Legacy Delphi Technologies Plan In 2019, legacy Delphi Technologies announced a restructuring plan to reshape and realign its global technical center footprint and reduce salaried and contract staff. The actions under this plan are complete.

The following provides details of restructuring expense incurred by the Company’s reportable segments during the years ended December 31, 2023, 2022 and 2021, related to the plans discussed above:

•During the year ended December 31, 2023, the segment recorded $74 million of restructuring costs under this plan, primarily related to employee termination benefits associated with the announced closure of a facility in Europe affecting approximately 200 employees.

•During the year ended December 31, 2022, the segment recorded $24 million of restructuring costs under this plan. This primarily related to $18 million for two voluntary termination programs pursuant to which approximately 74 employees accepted termination packages in 2022.

•During the year ended December 31, 2021, the segment recorded $48 million of restructuring costs, of which $23 million related to a voluntary termination program where approximately 140 employees accepted termination packages in 2021, and $25 million related to severance costs and professional fees for specific actions to reduce structural costs.

•During the year ended December 31, 2021, the segment recorded $4 million of restructuring costs, primarily related to severance costs.

•During the year ended December 31, 2023, the segment recorded $4 million of restructuring costs under this plan, primarily related to employee termination benefits and equipment moves.

•During the year ended December 31, 2022, the segment recorded $9 million of restructuring costs primarily related to contractual settlements and professional fees.

•During the year ended December 31, 2021, the segment recorded $47 million of restructuring costs, of which $36 million primarily related to severance costs, equipment relocation and professional fees to reduce existing structural costs, and $11 million related

to contractual settlements, professional fees and other costs associated with the announced closure of a facility in Europe.

•During the year ended December 31, 2022, the segment recorded $14 million of restructuring costs, primarily related to severance costs associated with the announced closure of a technical center in Europe affecting approximately 80 employees.

•During the year ended December 31, 2023, the segment recorded $1 million of restructuring costs under this plan, primarily related to employee termination benefits.

•During the year ended December 31, 2022, the segment recorded $1 million of restructuring costs, primarily related to equipment relocation costs.

•During the year ended December 31, 2021, the segment recorded $7 million of restructuring costs, primarily related to legal, professional fees, and equipment relocation costs.

•During the year ended December 31, 2021, $2 million of net restructuring costs were recorded for various corporate restructuring actions.

Estimates of restructuring expense are based on information available at the time such charges are recorded. Due to the inherent uncertainty involved in estimating restructuring expenses, actual amounts paid for such activities may differ from amounts initially recorded. Accordingly, the Company may record revisions of previous estimates by adjusting previously established accruals.

The Company continues to evaluate different options across its operations to reduce existing structural costs over the next few years. The Company will recognize restructuring expense associated with any future actions at the time they are approved and become probable or are incurred. Any future actions could result in significant restructuring expense.