v3.25.1
RESTRUCTURING CHARGES (Tables)
3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Program Charges
A summary of restructuring program charges is as follows:
Three months ended
March 31
(In millions except for per share data)20252024
Workforce reductions$13 $59 
Plant closing and other
Total before income taxes18 63 
Income tax benefit14 
Total after income taxes$14 $49 
Per ordinary share - diluted$0.04 $0.12 
Restructuring program charges related to the following segments:
Three months ended
March 31
Restructuring program charges incurred from inception through
(In millions)20252024March 31, 2025
Electrical Americas$$$13 
Electrical Global14 24 102 
Aerospace— 
Vehicle24 42 
eMobility— 26 
Corporate— 30 
Total$18 $63 $220 
Schedule of Liabilities Related to Restructuring
A summary of liabilities related to workforce reductions, plant closing, and other associated costs is as follows:
(In millions)Workforce reductionsPlant closing and otherTotal
Balance at January 1, 2024
$35 $$41 
Liability recognized, net120 83 202 
Payments, utilization and translation(59)(81)(141)
Balance at December 31, 2024
96 103 
Liability recognized, net13 18 
Payments, utilization and translation(14)(7)(21)
Balance at March 31, 2025
$94 $$100