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...This included the August 14, 2024 initiation of a restructuring plan (the "2024 restructuring plan") that involved a reduction in force of approximately 6 % of its employees and a reduction to its real estate footprint. Building on this effort, the Company announced a subsequent restructuring on February 5, 2025, including...

...Restructuring and Transaction Related Expenses Restructuring and transaction related expenses decreased by $41 million, primarily due to a $31 million decrease in restructuring expenses related to our 2024 Global Restructuring plan and a $10 million decrease in restructuring expenses related to our Acquisition Integration plans. Provision for Income Taxes Our...

...RESTRUCTURING COSTS, NET The Company incurs costs associated with restructuring initiatives intended to improve overall operating performance and profitability. The costs related to restructuring actions are generally cash-based and primarily consist of employee-related costs, which include severance and other one-time termination benefits. In addition to the employee...

...In addition to restructuring costs, the Company incurs incremental manufacturing inefficiency costs at the operating locations impacted by the restructuring actions during the related restructuring implementation period. Restructuring costs are recognized in the Company's condensed consolidated financial statements in accordance with GAAP. Generally, charges are recorded when restructuring actions...

...Restructuring and Other Costs (Benefits) Restructuring and other costs are not presented in our segment earnings because these costs are excluded from the segment operating performance measure reviewed by management. Restructuring and other costs for the three and six months ended June 30, 2023 included restructuring charges of $16.4...

...The Company anticipates substantially completing the 2024 restructuring program by the end of 2025 and expects to incur additional restructuring charges of $ 1.5 million to $ 2.5 million relat ed to the 2024 restructuring program. The following table summarizes restructuring costs associated with the 2024 restructuring program by reportable...

...The Company anticipates substantially completing the 2024 restructuring program by the end of 2025 and expects to incur additional restructuring charges of $ 1.5 million to $ 2.5 million relat ed to the 2024 restructuring program. The following table summarizes restructuring costs associated with the 2024 restructuring program by reportable...

...IMPAIRMENT, RESTRUCTURING AND OTHER Activity described herein is classified within the “Cost of sales-impairment, restructuring and other” and “Impairment, restructuring and other” lines in the Condensed Consolidated Statements of Operations. The following table details impairment, restructuring and other charges (recoveries) for each of the periods presented: Three Months Ended...

...Non-current restructuring liability 13 - 13 Current restructuring liability at June 30, 2020 $ 33 $ 10 $ 43 In February 2020, the Company announced a restructuring plan to address existing structural costs. During the three and six months ended June 30, 2021, the Company recorded $ 37 million and $ 61 million of restructuring...

...The following table summarizes restructuring activities as of June 30, 2021 included in current contingencies and other current liabilities in the statement of financial position: Restructuring liabilities Restructuring liability - January 1, 2021 9,387 Amounts paid ( 6,285 ) Other effect including currency translation effect ( 221 ) Restructuring liability - June 30, 2021...

...Operating income decreased by $11.7 million, or 34.0%, primarily due to the lower sales unit volume and higher restructuring and restructuring-related charges ($1.8 million). Corporate Corporate expenses increased by $11.2 million, or 29.5%, primarily due to higher restructuring and restructuring-related charges ($7.7...

...Operating income decreased by $11.7 million, or 34.0%, primarily due to the lower sales unit volume and higher restructuring and restructuring-related charges ($1.8 million). Corporate Corporate expenses increased by $11.2 million, or 29.5%, primarily due to higher restructuring and restructuring-related charges ($7.7...

...RESTRUCTURING AND RELATED CHARGES FY21 Restructuring Actions In the September quarter of fiscal 2020, we announced the initiation of restructuring actions in Germany associated with our simplification/modernization initiative to reduce structural costs. Subsequently, we also announced the acceleration of our other structural cost reduction plans including the closure of...

...Restructuring and Transaction Related Expenses From time to time, we initiate restructuring plans to integrate acquired businesses, to align our workforce with strategic business activities, or to improve efficiencies in our operations. Below is a summary of our current restructuring plans: 2024 Global Restructuring Plan In the first quarter of...

...Restructuring and other charges $ 1,103 Restructuring-related expenses (a) : Cost of sales 155 Selling, general and administrative 318 Research, development and engineering 177 Total restructuring and restructuring-related charges $ 1,753 __________ (a) Restructuring-related expenses primarily include retention bonuses and manufacturing transfer charges. Restructuring related expense for the three...

...Restructuring and other charges $ 1,103 Restructuring-related expenses (a) : Cost of sales 155 Selling, general and administrative 318 Research, development and engineering 177 Total restructuring and restructuring-related charges $ 1,753 __________ (a) Restructuring-related expenses primarily include retention bonuses and manufacturing transfer charges. Restructuring related expense for the three...

...Other costs also includes restructuring-related charges, which are incremental costs incurred directly supporting business transformation initiatives tied to the restructuring action. Fiscal Year 2025 Restructuring Actions: In the first quarter of fiscal 2025, the Company announced enterprise-wide restructuring focused on recovering operating margins and optimizing our manufacturing footprint...

...Other costs also includes restructuring-related charges, which are incremental costs incurred directly supporting business transformation initiatives tied to the restructuring action. Fiscal Year 2025 Restructuring Actions: In the first quarter of fiscal 2025, the Company announced enterprise-wide restructuring focused on recovering operating margins and optimizing our manufacturing footprint...

...This included the August 14, 2024 initiation of a restructuring plan (the "2024 restructuring plan") that involved a reduction in force of approximately 6 % of its employees and a reduction to its real estate footprint. Building on this effort, the Company announced a subsequent restructuring on February 5, 2025, including...

...Restructuring activities related to employee severance and benefit arrangements under the 2025 Restructuring Plan and 2024 Restructuring Plan were as follows: (In Millions) 2025 Restructuring Plan 2024 Restructuring Plan Accrued restructuring balance as of December 28, 2024 $ - $ 302 Accruals and adjustments 1,361 195 Cash payments ( 11 ) ( 417 ) Accrued restructuring...