Restructuring and Other Charges

3 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

Restructuring and Other Charges

	First quarter ended
	March 31,
	2024		2023
Reversals of previously recorded layoff reserves	$	—	$	(1)
Net gain related to divestitures of assets and businesses	(1)		—
Other	1		2
Total restructuring and other charges	$	—	$	1

In the first quarter of 2024, the Company recorded Restructuring and other charges of less than $1, which were primarily due to a gain on the sale of assets at a small U.K. manufacturing facility in Engines Products of $1, partially offset by exit related costs, including accelerated depreciation, of $1.

In the first quarter of 2023, the Company recorded Restructuring and other charges of $1, which were primarily due to exit related costs, including accelerated depreciation, of $2, partially offset by a reversal of $1 for a layoff reserve related to a prior period.

	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2023	$	5	$	2	$	7
Cash payments	(1)		—		(1)
Reserve balances at March 31, 2024	$	4	$	2	$	6

The remaining reserves as of March 31, 2024 are expected to be paid in cash during the remainder of 2024 and 2025.