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RESTRUCTURING COSTS
12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
RESTRUCTURING COSTS RESTRUCTURING COSTS
The Company incurs costs associated with restructuring initiatives intended to improve operating performance, profitability and working capital levels. Actions associated with these initiatives may include improving productivity, workforce reductions and the consolidation of facilities. Due to the size, nature and frequency of these discrete plans, they are fundamentally different from the Company’s ongoing productivity initiatives.
The Company recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows:

(In millions)202320222021
HVAC$44 $$33 
Refrigeration21 10 25 
Fire & Security22 11 26 
Total Segment87 29 84 
General corporate expenses10 
Total restructuring costs$97 $31 $89 
Cost of sales$18 $$28 
Selling, general and administrative79 22 60 
Other income (expense), net— — 
Total restructuring costs$97 $31 $89 

The following table summarizes changes in the restructuring reserve, included in Accrued liabilities on the accompanying Consolidated Balance Sheet:

(In millions)20232022
Balance as of January 1,$24 $54 
Net pre-tax restructuring costs97 31 
Utilization, foreign exchange and other(58)(61)
Reclassified to held for sale (1)
(8)— 
Balance as of December 31,$55 $24 
(1) See Note 20 - Divestitures for additional information.

As of December 31, 2023, the Company had $55 million accrued for costs associated with its announced restructuring initiatives. The balance relates to cost reduction efforts, primarily severance, across each of the Company's segments. In addition, reserves associated with the Company's planned portfolio transformation were established during the year, all of which are expected to be paid within 12 months.