Exit and Restructuring Costs

3 Months Ended

Mar. 30, 2024

Restructuring and Related Activities [Abstract]

Exit and Restructuring Costs

Exit and Restructuring Costs

Total charges associated with the 2022 Productivity Plan and the U.S. voluntary retirement plan, which was completed in 2023, were $120 million incurred to date, including $10 million recorded during the three months ended March 30, 2024. The Company expects to incur an additional $10 million in the current year associated with its 2022 Productivity Plan. The costs of these plans are classified within Exit and restructuring on the Consolidated Statements of Operations. The Company’s remaining payment obligations of $12 million, are reflected within Accrued liabilities on the Consolidated Balance Sheets.

The Company’s liability associated with Exit and restructuring was:

Balance as of December 31, 2023	$	22
Exit and restructuring charges	10
Non-cash utilization	(1)
Cash payments	(19)
Balance as of March 30, 2024	$	12