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RESTRUCTURING CHARGES (Tables)
3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Program Charges
A summary of restructuring program charges is as follows:
Three months ended
March 31
(In millions except for per share data)20242023
Workforce reductions$59 $2 
Plant closing and other4 7 
Total before income taxes63 10 
Income tax benefit14 2 
Total after income taxes$49 $8 
Per ordinary share - diluted$0.12 $0.02 
Restructuring program charges related to the following segments:
Three months ended
March 31
(In millions)20242023
Electrical Americas$7 $2 
Electrical Global24 3 
Aerospace8 1 
Vehicle24 2 
Corporate— 1 
Total$63 $10 
Schedule of Liabilities Related to Restructuring
A summary of liabilities related to workforce reductions, plant closing, and other associated costs is as follows:
(In millions)Workforce reductionsPlant closing and otherTotal
Balance at January 1, 2024
$35 $6 $41 
Liability recognized, net59 4 63 
Payments, utilization and translation(14)(3)(18)
Balance at March 31, 2024
$80 $7 $86