v3.24.2.u1
RESTRUCTURING CHARGES (Tables)
6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Program Charges
A summary of restructuring program charges is as follows:
Three months ended
June 30
Six months ended
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:
Three months ended
June 30
Six months ended
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 
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, net68 11 78 
Payments, utilization and translation(28)(11)(40)
Balance at June 30, 2024
$74 $5 $80