RESTRUCTURING CHARGES (Tables)

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Program Charges

A summary of restructuring program charges is as follows:

	Three months ended March 31
(In millions except for per share data)	2023		2022
Workforce reductions	$	2	$	5
Plant closing and other	7		13
Total before income taxes	10		18
Income tax benefit	2		4
Total after income taxes	$	8	$	14
Per ordinary share - diluted	$	0.02	$	0.03

Restructuring program charges related to the following segments:

	Three months ended March 31
(In millions)	2023		2022
Electrical Americas	$	2	$	5
Electrical Global	3		5
Aerospace	1		3
Vehicle	2		3
Corporate	1		2
Total	$	10	$	18

Schedule of Liabilities Related to Restructuring

A summary of liabilities related to workforce reductions, plant closing and other associated costs is as follows:

(In millions)	Workforce reductions		Plant closing and other		Total
Balance at January 1, 2020	$	—	$	—	$	—
Liability recognized	172		42		214
Payments, utilization and translation	(33)		(39)		(72)
Balance at December 31, 2020	139		3		142
Liability recognized	21		57		78
Payments, utilization and translation	(64)		(52)		(116)
Balance at December 31, 2021	96		8		104
Liability recognized, net1	(13)		47		33
Payments, utilization and translation	(45)		(51)		(96)
Balance at December 31, 2022	38		4		41
Liability recognized	2		7		10
Payments	(5)		(8)		(13)
Balance at March 31, 2023	$	35	$	3	$	38

1The restructuring program liability was adjusted by $30 million in 2022 related to true-ups for completed workforce reductions and the decision not to close a facility in the Vehicle segment that was previously included in the program.