v3.24.3
RESTRUCTURING CHARGES (Tables)
9 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Program Charges
A summary of restructuring program charges is as follows:
Three months ended
September 30
Nine months ended
September 30
(In millions except for per share data)2024202320242023
Workforce reductions$10 $— $78 $17 
Plant closing and other44 7 55 29 
Total before income taxes54 7 132 46 
Income tax benefit11 1 28 9 
Total after income taxes$43 $5 $104 $37 
Per ordinary share - diluted$0.11 $0.01 $0.26 $0.09 
Restructuring program charges (income) related to the following segments:
Three months ended
September 30
Nine months ended
September 30
(In millions)2024202320242023
Electrical Americas$— $— $9 $4 
Electrical Global42 5 70 22 
Aerospace(1)1 7 4 
Vehicle4 1 32 4 
eMobility2 — 2 6 
Corporate6 — 13 6 
Total$54 $7 $132 $46 
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, net78 55 132 
Payments, utilization and translation(38)(53)(92)
Balance at September 30, 2024
$74 $7 $82