To better align its resources with its growth strategies and reduce the cost structure of its global operations in certain underlying markets, the Company commits to various restructuring activities as necessary. Restructuring activities generally result in charges for workforce reductions, plant closures, asset impairments and other related costs which are reported as restructuring and impairment costs in the Company’s consolidated statements of income. The Company expects the restructuring activities to reduce cost of sales and selling, general and administrative expenses ("SG&A") due to reduced employee-related costs, depreciation and amortization expense.

In the third and fourth quarters of fiscal 2023, the Company developed a restructuring plan which included workforce reductions and other actions focused on continued scaling of SG&A expenses to its planned growth. Additional restructuring charges related to this plan were recorded in the three and nine months ended June 30, 2024 and are expected in subsequent quarters.


	Three Months Ended June 30, 2024		Nine Months Ended June 30, 2024

Building Solutions North America	$	—	$	4
Building Solutions EMEA/LA	9		22
Building Solutions Asia Pacific	4		7
Global Products	20		56
Corporate	7		14
Total	$	40	$	103

The following table summarizes changes in the restructuring reserve, which is included within other current liabilities in the consolidated statements of financial position (in millions):


	Employee Severance and Termination Benefits		Long-Lived Asset Impairments		Other		Total

Restructuring and related costs	$	204	$	38	$	34	$	276
Utilized—cash	(111)		—		(19)		(130)
Utilized—noncash	—		(38)		(3)		(41)
Balance at September 30, 2023	93		—		12		105
Additional restructuring and related costs	50		36		17		103
Utilized—cash	(121)		—		(12)		(133)
Utilized—noncash	—		(36)		(1)		(37)
Other	32				—		32

Balance at June 30, 2024	$	54	$	—	$	16	$	70