In the second quarter of 2025, the Company recorded Restructuring and other charges of less than $1, which were primarily due to a charge for layoff costs of $3, including the separation of 119 employees (79 in Fastening Systems and 40 in Forged Wheels), partially offset by a gain on the sale of assets at a previously closed facility in Forged Wheels of $2 and a reversal of $1 for layoff reserves related to a prior period.

In the six months ended June 30, 2025, the Company recorded Restructuring and other credits of $4, which were primarily due to a gain on the sale of assets at a small U.K. manufacturing facility in Engineered Structures of $3, a gain on the sale of assets at a previously closed facility in Forged Wheels of $2, and a reversal of $2 for layoff reserves related to a prior period, partially offset by a charge for layoff costs of $3.

In the second quarter of 2024, the Company recorded Restructuring and other charges of $22, which were primarily due to a loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $14, which remains subject to certain post-closing adjustments, a charge for layoff costs of $7, including the separation of 283 employees (144 in Fastening Systems, 112 in Engineered Structures and 27 in Forged Wheels) and other exit related costs, including accelerated depreciation, of $1.

In the six months ended June 30, 2024, the Company recorded Restructuring and other charges of $22, which were primarily due to a loss on the sale of a small U.K. manufacturing facility in Engineered Structures of $14, which remains subject to certain post-closing adjustments, a charge for layoff costs of $7, and other exit related costs, including accelerated depreciation, of $2, partially offset by a gain on the sale of assets at a small U.K. manufacturing facility in Engine Products of $1.


	Layoff costs		Other exit costs		Total
Reserve balances at December 31, 2024	$	4	$	—	$	4
Cash payments	(1)		(1)		(2)
Restructuring charges (credits)	1		(5)		(4)
Other(1)	—		6		6
Reserve balances at June 30, 2025	$	4	$	—	$	4

(1)In the six months ended June 30, 2025, other for other exit costs were primarily due to a gain on the sale of assets at a small U.K. manufacturing facility in Engineered Structures of $3 and a gain on the sale of assets at a previously closed facility in Forged Wheels of $2.

The remaining reserves as of June 30, 2025 are expected to be paid in cash during the remainder of 2025 and 2026.