Restructuring Costs |
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | Restructuring Costs During the quarters ended September 30, 2020 and 2019, we recorded pre-tax restructuring costs totaling $20 million and $4 million, respectively, and during the nine months ended September 30, 2020 and 2019, we recorded pre-tax restructuring costs totaling $46 million and $44 million, respectively, for new and ongoing restructuring actions. For the nine months ended September 30, 2020, we recorded pre-tax restructuring costs of $42 million related to 2020 actions and $4 million of costs related to 2019 actions. We recorded these charges as follows:
2020 Actions. During the nine months ended September 30, 2020, we recorded pre-tax restructuring costs of $42 million comprised of $18 million in Cost of products and services sold and $24 million in Selling, general and administrative expenses on the Condensed Consolidated Statement of Operations. The 2020 actions relate to ongoing cost reduction efforts, including workforce reductions. We are targeting to complete in 2020 and 2021, the majority of remaining restructuring actions initiated in 2020. The following table summarizes the accrual balance and utilization for the 2020 restructuring actions for the quarter and nine months ended September 30, 2020:
The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions:
2019 Actions. During the nine months ended September 30, 2020, we recorded pre-tax restructuring costs totaling $4 million for restructuring actions initiated in 2019, primarily included in Selling, general and administrative expenses on the Condensed Consolidated Statement of Operations. The 2019 actions relate to ongoing cost reduction efforts, including workforce reductions. We are targeting to complete in 2020 and 2021 the majority of remaining restructuring actions initiated in 2019. The following table summarizes the accrual balances and utilization for the 2019 restructuring actions for the quarter and nine months ended September 30, 2020:
The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions:
2018 and Prior Actions. During the nine months ended September 30, 2020, no pre-tax restructuring costs were recorded for restructuring actions initiated in 2018 and prior.
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