Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges

Restructuring and other charges were comprised of the following:

For the year ended December 31,	2021		2020		2019
Layoff costs	$	7	$	113	$	69
Net reversals of previously recorded layoff reserves	(3)		(21)		(6)
Pension, Other post-retirement benefits (costs) and deferred compensation - net settlement and curtailments	75		69		(7)
Non-cash asset impairments and accelerated depreciation (O)	15		5		442
Net (gain) loss related to divestitures of assets and businesses (U)	(8)		8		63
Other	4		8		21
Restructuring and other charges	$	90	$	182	$	582

Schedule of Restructuring and Other Charges by Reportable Segments, Pretax

Activity and reserve balances for restructuring charges were as follows:

	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2018	$	13	$	9	$	22
2019 Activity
Cash payments	(63)		—		(63)
Restructuring and other charges	58		524		582
Other(1)	5		(533)		(528)
Reserve balances at December 31, 2019	$	13	$	—	$	13
2020 Activity
Cash payments	$	(51)	$	—	$	(51)
Restructuring and other charges	161		21		182
Other(2)	(69)		(21)		(90)
Reserve balances at December 31, 2020	$	54	$	—	$	54
2021 Activity
Cash payments	$	(41)	$	(2)	$	(43)
Restructuring and other charges	79		11		90
Other(3)	(75)		(7)		(82)
Reserve balances at December 31, 2021	$	17	$	2	$	19

(1)In 2019, Other for layoff costs included reclassifications of a $16 credit for elimination of life insurance benefits for U.S. salaried and non-bargaining hourly retirees, a charge of $9 for pension plan settlement accounting, as the impacts were reflected in the Company's separate liabilities for Accrued pension benefits and Accrued other postretirement benefits; a $2 net charge for executive severance net of the benefit of forfeited executive stock compensation. In 2019, Other exit costs included a charge of $428 for impairment of the Disks long-lived asset group; a charge of $59 for impairment of assets associated with agreement to sell the U.K. forgings business, and a small additive business; a charge of $14 for impairment of properties, plants, and equipment related to the Company’s primary research and development facility; a charge of $12 for lease terminations; a $5 charge for impairment of a cost method investment, a charge of $7 related to other miscellaneous items and a $9 reclassification of lease exit costs to reduce right of use assets in Other noncurrent assets in accordance with the adoption of the new lease accounting standard; partially offset by a gain of $1 on the sales of assets.

(2)In 2020, Other for layoff costs included $74 in settlement accounting charges related to U.K. and U.S. pension plans, offset by a $3 benefit from the termination of a deferred compensation plan and a $2 curtailment benefit related to a postretirement plan; while Other exit costs included a charge of $5 for impairment of assets; a $5 post-closing adjustment related to the sale of a business; a $5 charge related to the impairment of a cost method investment; a $2 charge for accelerated depreciation; a $1 charge for impairment of assets due to a facility closure and a $6 charge for various other exit costs, which were offset by a gain of $3 on the sale of assets.

(3)In 2021, Other for layoff costs included $75 in settlement accounting charges related to U.K. and U.S. pension plans; while Other exit costs included a charge of $15 for accelerated depreciation and a $4 charge for various other exit costs, which were offset by a gain of $12 on the sale of assets.