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RESTRUCTURING CHARGES
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
In the second quarter of 2020, Eaton initiated a multi-year restructuring program to reduce its cost structure and gain efficiencies in its business segments and at corporate in order to initially respond to declining market conditions brought on by the COVID-19 pandemic. Since the inception of the program, the Company incurred expenses of $199 million for workforce reductions and $184 million for plant closing and other costs, resulting in total charges of $382 million through December 31, 2023. This multi-year restructuring program was substantially complete at the end of 2023, with final payments expected to be made in 2024.
During the first quarter of 2024, Eaton implemented a new multi-year restructuring program to accelerate opportunities to optimize its operations and global support structure. These actions will better align the Company's functions to support anticipated growth and drive greater effectiveness throughout the Company. Restructuring charges incurred under this program were $15 million in the second quarter and $78 million in the first six months of 2024. This restructuring program is expected to be completed in 2026 and is expected to incur additional expenses related to workforce reductions of $208 million and plant closing and other costs of $89 million, resulting in total estimated charges of $375 million for the entire program.
A summary of restructuring program charges is as follows:
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June 30
(In millions except for per share data)2024202320242023
Workforce reductions$9 $15 $68 $17 
Plant closing and other7 15 11 22 
Total before income taxes15 29 78 39 
Income tax benefit3 6 18 8 
Total after income taxes$12 $24 $61 $31 
Per ordinary share - diluted$0.03 $0.06 $0.15 $0.08 
Restructuring program charges related to the following segments:
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June 30
(In millions)2024202320242023
Electrical Americas$1 $1 $8 $3 
Electrical Global4 14 27 18 
Aerospace— 2 8 3 
Vehicle4 1 27 3 
eMobility— 6 — 7 
Corporate7 5 7 6 
Total$15 $29 $78 $39 
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, net68 11 78 
Payments, utilization and translation(28)(11)(40)
Balance at June 30, 2024
$74 $5 $80 
These restructuring program charges were included in Cost of products sold, Selling and administrative expense, Research and development expense, or Other expense (income) – net, as appropriate. In Business Segment Information, these restructuring program charges are treated as Corporate items. See Note 16 for additional information about business segments.