Details of restructuring, asset impairments and other charges, net were as follows (in millions):


	Restructuring		Asset Impairments		Other Charges		Total
Quarter ended April 4, 2025:
2025 Manufacturing Realignment Program	$	60.2	$	431.5	$	44.9	$	536.6
2024 Business Realignment	0.9		—		1.8		2.7

Total	$	61.1	$	431.5	$	46.7	$	539.3


Quarter ended March 29, 2024:
Other	$	1.0	$	—	$	0.4	$	1.4




Total	$	1.0	$	—	$	0.4	$	1.4


	As of						As of
	December 31, 2024		Charges		Usage		April 4, 2025
2025 Manufacturing Realignment Program	$	—	$	60.2	$	(17.9)	$	42.3
2024 Business Realignment	54.4		0.9		(11.0)		44.3
Total	$	54.4	$	61.1	$	(28.9)	$	86.6

During the first quarter of 2025, the Company announced restructuring and cost reduction initiatives based on an evaluation of its operating structure, business strategy, manufacturing technologies and internal capabilities to realign internal manufacturing capacity and capabilities with anticipated long-term needs. The program also included certain business strategy changes primarily related to headcount reductions in the sales and engineering teams within the ISG reportable segment. These initiatives resulted in a reduction of global workforce, impairments of certain long-lived assets that met the held-for-sale criteria, inventory obsolescence and certain other charges during the quarter ended April 4, 2025.

On February 24, 2025, the Company initiated a restructuring plan that involves reducing its global workforce by approximately 2,400 employees, and in connection with such plan, the Company expects to incur total severance and other related benefit expenses of approximately $63 million. Of this, approximately $60.2 million was recognized during the quarter ended April 4, 2025. Substantially all of the remaining charges are expected to be recognized during 2025.

Of the aggregate expenses relating to the actions announced so far in 2025, the Company paid approximately $17.9 million to approximately 1,800 terminated employees and had approximately $42.3 million accrued as of April 4, 2025. The remaining employees subject to this restructuring program are expected to be terminated over the next 12 months and substantially all applicable severance and benefit payments are expected to be paid over the same time period.

The Company recorded impairment charges of $431.5 million during the quarter ended April 4, 2025 related to previous investments in manufacturing equipment at certain manufacturing facilities pursuant to held-for-sale accounting guidance. During the first quarter of 2025, it was determined that the Company met all criteria to be classified as assets held-for-sale with the expectation that these assets would be disposed of within 12 months. The impairment charges were determined as the difference between the carrying value of these long-lived assets and their estimated fair values, less estimated costs to sell such assets. Fair values were determined primarily using unobservable inputs such as estimated sales prices based on available market prices, underlying equipment condition and market demand for similar equipment, inputs categorized as Level 3 within the fair value hierarchy. The Company utilized a third-party valuation specialist to assist in the determination of assets held-for-sale.

Other charges of $44.9 million noted in the table above consisted primarily of estimated costs associated with selling the equipment and contract termination costs related to adjusting the Company's operating structure in connection with the 2025 Manufacturing Realignment Program. The estimated costs associated with selling equipment of $28.3 million were primarily comprised of dismantling costs and brokerage fees which have not yet been paid and are included within Accrued expenses and other current liabilities on the Consolidated Balance Sheet.

The Company also recorded $45.7 million related to the write-off of consumables, manufacturing supplies and obligations for certain unfulfilled purchase commitments due to the manufacturing capacity reduction actions taken under the 2025

During the quarter ended April 4, 2025, the Company recorded $237.7 million relating to excess and obsolete inventory charges, of which $232.2 million related to inventory primarily considered work in progress within the ISG reportable segment as a result of changes in business strategy due to the 2025 Manufacturing Realignment Program. These charges were recorded within Cost of revenue in the Consolidated Statement of Operations.