XML 34 R24.htm IDEA: XBRL DOCUMENT v3.22.2
Restructuring and impairment charges (Tables)
 6 Months Ended
Jun. 26, 2022
Restructuring and Related Activities [Abstract]  
Summary Of Current Cost Estimates By Major Type Of Cost Table The following tables provide a summary of our cost estimates and other information associated with these plans:
Respiratory divestiture plan2019 Footprint realignment plan2018 Footprint realignment plan
Plan expense estimates:(Dollars in millions)
Termination benefits
$5 to $8
$14 to $15
$60 to $65
Other costs (1)
— to —
2 to 2
3 to 4
Restructuring charges
5 to 8
16 to 17
63 to 69
Restructuring related charges (2)
19 to 22
38 to 43
47 to 59
Total restructuring and restructuring related charges
$24 to $30
$54 to $60
$110 to $128
Other plan estimates:
Expected cash outlays
$24 to $30
$48 to $54
$99 to $122
Expected capital expenditures
$22 to $28
$31 to $33
$15 to $16
Other plan information:
Period initiatedMay 2021February 2019May 2018
Estimated period of substantial completion202320222022
Aggregate restructuring charges$3.0$14.5$63.1
Restructuring reserve:
Balance as of June 26, 2022$2.8$1.7$38.8
Restructuring related charges incurred:
Three Months Ended June 26, 2022$2.4$1.8$3.2
Six Months Ended June 26, 2022$4.4$2.9$5.5
Aggregate restructuring related charges$7.7$37.1$32.9
(1)Includes facility closure, employee relocation, equipment relocation and outplacement costs.
(2)Restructuring related charges represent costs that are directly related to the plans and principally constitute costs to transfer manufacturing operations to the existing lower-cost locations, project management costs and accelerated depreciation. The 2018 Footprint realignment plan also includes a charge associated with our exit from the facilities that is expected to be imposed by the taxing authority in the affected jurisdiction. Excluding this tax charge, substantially all of the restructuring related charges are expected to be recognized within cost of goods sold.
Restructuring and Other Impairment Charges
Restructuring and impairment charges recognized for the three and six months ended June 26, 2022 and June 27, 2021 consisted of the following:
Three Months Ended June 26, 2022
Termination Benefits
Other Costs (1)
Total
Respiratory divestiture plan$129 $31 $160 
2019 Footprint realignment plan(400)21 (379)
2018 Footprint realignment plan153 233 386 
Other restructuring programs (2)
(406)156 (250)
Restructuring (credits) charges$(524)$441 $(83)
Three Months Ended June 27, 2021
Termination Benefits
Other Costs (1)
Total
Respiratory divestiture plan$2,540 $1 $2,541 
2021 Restructuring plan129 23 152 
2019 Footprint realignment plan(301)91 (210)
2018 Footprint realignment plan1,459 92 1,551 
Other restructuring programs (3)
(4)725 721 
Restructuring charges3,823 932 4,755 
Asset impairment charges— 6,739 6,739 
Restructuring and impairment charges$3,823 $7,671 $11,494 
Six Months Ended June 26, 2022
Termination benefits
Other costs (1)
Total
Respiratory divestiture plan$235 $45 $280 
2019 Footprint realignment plan(1,070)45 (1,025)
2018 Footprint realignment plan311 295 606 
Other restructuring plans (2)
726 238 964 
Restructuring charges202 623 825 
Asset impairment charges— 1,497 1,497 
Restructuring and impairment charges$202 $2,120 $2,322 
Six Months Ended June 27, 2021
Termination benefits
Other costs (1)
Total
Respiratory divestiture plan$2,540 $1 $2,541 
2021 Restructuring plan6,889 23 6,912 
2019 Footprint realignment plan40 196 236 
2018 Footprint realignment plan1,726 137 1,863 
Other restructuring plans (3)
(170)1,371 1,201 
Restructuring charges11,025 1,728 12,753 
Asset impairment charges— 6,739 6,739 
Restructuring and impairment charges$11,025 $8,467 $19,492 
(1) Other costs include facility closure, contract termination and other exit costs.
(2) Includes activity primarily related to a restructuring plan initiated in the first quarter of 2022 that is designed to relocate manufacturing operations at certain of our facilities, the 2021 Restructuring plan and the 2014 Footprint realignment plan.
(3) Includes the plan initiated during the third quarter of 2019 as well as the 2016 and 2014 Footprint realignment plans.