Restructuring Costs (Tables)

3 Months Ended

Mar. 31, 2021

Restructuring Charges [Abstract]

Restructuring and related costs

Restructuring costs for the three months ended March 31, 2021 and 2020 were as follows:

(Millions of dollars)	Three Months Ended March 31
	2021		2020
Employee separations 1	$	45	$	11
Contract terminations 1	—		1
Long-lived asset impairments 1	11		9
Other 2	8		16
Total restructuring costs	$	64	$	37
1 Recognized in Other operating (income) expenses.
2 Represents costs related to our restructuring programs, primarily for inventory write-downs, project management, equipment relocation and accelerated depreciation, all of which are primarily included in Cost of goods sold.

Restructuring costs included in segment profit were as follows:

	Three Months Ended March 31
(Millions of dollars)	2021		2020
Construction Industries	$	—	$	1
Resource Industries	—		1
Energy & Transportation	—		4
Financial Products Segment	—		—

Summary of separation activity

The following table summarizes the 2021 and 2020 employee separation activity:

(Millions of dollars)	Three Months Ended March 31
	2021		2020
Liability balance, beginning of period	$	164	$	48
Increase in liability (separation charges)	45		11
Reduction in liability (payments)	(55)		(16)
Liability balance, end of period	$	154	$	43