v3.24.2
Note 4 - Restructuring of Operations
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]

Note 4. Restructuring of Operations

 

Our restructuring activities have historically included rationalizing our operating footprint by consolidating facilities, positioning operations in lower cost locations, and reducing overhead costs. Restructuring expense includes costs associated with current and previously announced actions and is comprised of contractual and noncontractual separation costs and exit costs. During the second quarter and first six months of 2024, our restructuring charges were primarily comprised of separation costs related to the rationalization of the global administrative and functional services that support our manufacturing and assembly facilities and technical centers and realignment activities associated with our manufacturing footprint. 

 

Accrued restructuring costs and activity —

 

  

Employee Termination Benefits

  

Exit Costs

  

Total

 

Balance, March 31, 2024

 $10  $—  $10 

Charges to restructuring

  9   3   12 

Cash payments

  (3)  (3)  (6)

Balance, June 30, 2024

 $16  $—  $16 
             

Balance, December 31, 2023

 $10  $—  $10 

Charges to restructuring

  11   6   17 

Cash payments

  (5)  (6)  (11)

Balance, June 30, 2024

 $16  $—  $16 

 

At June 30, 2024, the accrued employee termination benefits include costs to reduce approximately 500 employees to be completed over the next year.