v3.24.2
RESTRUCTURING COSTS (Tables)
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Net Pre-Tax Restructuring Costs
The Company recorded net pre-tax restructuring costs for new and ongoing restructuring initiatives as follows:

 Three Months Ended June 30,Six Months Ended June 30,
(In millions)2024202320242023
HVAC$25 $3 $32 $2 
Refrigeration1 7 1 10 
Fire & Security3 (1)10 12 
Total Segment29 9 43 24 
General corporate expenses3 — 4 2 
Total restructuring costs (1)
$32 $9 $47 $26 
Cost of sales$13 $3 $25 $9 
Selling, general and administrative19 6 22 17 
Total restructuring costs (1)
$32 $9 $47 $26 
(1) 2024 restructuring costs include period related charges.
Schedule of Reserve and Charges Relating to Restructuring Reserve
The following table summarizes changes in the restructuring reserve, included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet:

Six Months Ended June 30,
(In millions)20242023
Balance as of January 1,$55 $24 
Net pre-tax restructuring costs41 26 
Acquisitions (1)
8 — 
Utilization, foreign exchange and other(47)(19)
Balance as of June 30,$57 $31 
(1) See Note 15 - Acquisitions for additional information.