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...Restructuring In February 2025, our management approved a new global restructuring program (the “2025 Restructuring Plan”) intended to reduce costs and transform the way we operate. The 2025 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $ 85 million by the end of 2027. The...

...RESTRUCTURING AND RELATED CHARGES During Fiscal 2025, the Company's Board of Directors approved a restructuring plan (the "2025 restructuring plan") designed to strengthen and support the Company's financial and operational efficiencies. The 2025 restructuring plan is expected to include up to $ 160 million of pre-tax restructuring and...

...Restructuring In February 2025, our management approved a new global restructuring program (the “2025 Restructuring Plan”) intended to reduce costs and transform the way we operate. The 2025 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $ 85 million by the end of 2027. The...

...MD&A 45 Table of Contents Restructuring and other charges Restructuring charges are costs associated with a restructuring plan and are primarily related to employee severance and benefit arrangements. Q3 2024 includes charges associated with the 2024 Restructuring Plan primarily comprised of cash-based employee severance and benefit arrangements, and...

...The total expected restructuring costs, the restructuring costs recognized, and the remaining expected restructuring costs related to the 2023 Projects were as follows: In thousands Total Expected Costs at September 30, 2023 Costs Recognized in Prior Periods Costs Recognized During the Nine Months Ended September 30, 2023 Expected Remaining Costs...

...The total expected restructuring costs, the restructuring costs recognized, and the remaining expected restructuring costs related to the 2023 Projects were as follows: In thousands Total Expected Costs at September 30, 2023 Costs Recognized in Prior Periods Costs Recognized During the Nine Months Ended September 30, 2023 Expected Remaining Costs...

...Non-current restructuring liability 47 2 49 Current restructuring liability at September 30, 2021 $ 103 $ 7 $ 110 Employee Termination Benefits Other Total Balance at January 1, 2020 $ 34 $ - $ 34 Restructuring expense, net 50 22 72 Cash payments ( 40 ) ( 6 ) ( 46 ) Foreign currency translation adjustment and other - 2 2 Balance at...

...Share-based payments and certain restructuring and other costs are recorded in corporate expenses. (2) The restructuring and other costs line item in this reconciliation excludes those restructuring and other costs related to corporate functions, which are included within the Corporate expenses line item. (3) Other reconciling items includes Loss...

...No restructuring charges were recorded within Gross profit for the three and nine months ended September 30, 2021. During the nine months ended September 30, 2021, the Company recorded restructuring charges within Operating expenses of $ 0.3 million. No restructuring charges were recorded within Operating expenses for the three months...

...64 Consolidated Restructuring Plans The total expenses incurred from the beginning of the Company's 2019 Bemis Integration Plan, 2023 Restructuring Plan, and Other Restructuring Plans are as follows: ($ in millions) 2019 Bemis Integration Plan (3) 2023 Restructuring Plan (1) Other Restructuring Plans (2) Total Restructuring and Related Expenses, Net...

...Restructuring costs are included in restructuring and impairment costs in the consolidated statements of income. The following tables summarize the changes in Adient's restructuring reserve. For the three months ended June 30, 2024: (in millions) Employee Severance and Termination Benefits Currency Translation Total Balance at March 31, 2024 $ 175...

...Inventory write offs due to restructuring are reported in Cost of products and all other restructuring charges are reported as Restructuring expenses in the Statements of Income. In the third quarter of 2022, the Company implemented a restructuring plan (the "2022/2023 restructuring plan") to optimize the overall cost structure...

...Inventory write offs due to restructuring are reported in Cost of products and all other restructuring charges are reported as Restructuring expenses in the Statements of Income. In the third quarter of 2022, the Company implemented a restructuring plan (the "2022/2023 restructuring plan") to optimize the overall cost structure...

...Restructuring and Other Charges (Income) Our restructuring and other charges (income) are comprised of restructuring, asset disposals and other charges (income) as noted below. Three Months Ended June 30, Six Months Ended June 30, (in Millions) 2025 2024 2025 2024 Restructuring charges $ 13.0 $ 83.8 $ 26.6 $ 117.5...

...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 nine months ended September 30, 2023 included restructuring charges of $4.9...

...NOTE 5 - RESTRUCTURING AND ASSET RELATED CHARGES - NET Charges for restructuring programs and other asset related charges, which include asset impairments, are recorded in "Restructuring and asset related charges - net" in the consolidated statements of income. For additional information on the Company's 2023 Restructuring Program and other asset related...

...Changes to the restructuring liability for the aforementioned restructuring program were as follows: Balance as of December 31, 2024 $ 39 Strategic and Operational Efficiency Restructuring Program: Cost incurred and adjustments 53 Cash payments ( 44 ) Balance as of June 30, 2025 (1) $ 48 (1) Restructuring liability is primarily comprised of employee...

...The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the PCBA Program were: Sales Returns (included in Net Sales) Cost of Sales Operating Expenses Total (In millions) Restructuring Charges...

...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...

...Inventory write offs due to restructuring are reported in Cost of products and all other restructuring charges are reported as Restructuring expenses in the Statements of Income. In the third quarter of 2022, the Company implemented a restructuring plan (the "2022/2023 restructuring plan") to optimize the overall cost structure...