Restructuring and Other Charges

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]


	First quarter ended
	March 31,
	2022		2021

(Reversals of) adjustments to previously recorded layoff reserves	$	(1)	$	1
Pension and Other post-retirement benefits - net settlements (E)	1		3

Net loss related to divestitures of assets and businesses (P)	—		4
Other	2		1
Restructuring and other charges	$	2	$	9

In the first quarter of 2022, the Company recorded Restructuring and other charges of $2, which were primarily due to exit related costs of $2 and charges for a U.S. pension plan settlement of $1, partially offset by a reversal of $1 for a layoff reserve related to a prior period.

In the first quarter of 2021, the Company recorded Restructuring and other charges of $9, which included a $4 charge for impairment of assets associated with an agreement to sell a small manufacturing business in France, a $3 charge for U.S. pension plans' settlement accounting, a $1 adjustment related to a number of prior period program reserves and a $1 charge for exit costs including accelerated depreciation.


	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2021	$	17	$	2	$	19
Cash payments	(2)		(2)		(4)
Restructuring charges	—		2		2
Other(1)	(1)		—		(1)
Reserve balances at March 31, 2022	$	14	$	2	$	16

(1)In the first quarter of 2022, Other for layoff costs included a $1 charge for a pension plan settlement.

The majority of the layoff cost and other exit cost reserves is expected to be paid in cash during 2022, with small amounts to be paid through 2024.