Restructuring |
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring | 6. RESTRUCTURING As of September 30, 2026, the restructuring reserve balance of $111 million is mainly attributed to structural cost reduction program activities initiated in Europe, the Middle East and Africa (EMEA) in 2023 and the capacity alignment program in Türkiye initiated during the second quarter of 2026. The main part of the remaining balance for the activities initiated in EMEA in 2023 is expected to be concluded in 2026 and for Türkiye in 2027. Provisions for the three and nine months periods ended September 30, 2026, mainly related to the capacity alignment program in Türkiye and restructuring activities in EMEA. Cash payments for the three and nine months periods ended September 30, 2026 and September 30, 2025, mainly related to the restructuring activities in EMEA that were initiated in 2023. Substantially all cash payments related to the Türkiye program are expected to be made by the end of 2027. The table below summarizes the change in the balance sheet position of the employee-related restructuring reserves (dollars in millions). The restructuring reserve balances are included within Accrued liabilities in the Condensed Consolidated Balance Sheets. The changes in the employee-related reserves have been charged against Other income (expense), net in the Consolidated Statements of Income. Restructuring costs consist substantially of employee related costs. In the second quarter of 2026, the Company recorded an impairment loss of $9 million for its long-lived assets in connection with the restructuring activities related to Türkiye.
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