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. The pre-tax restructuring charges consist of employee termination benefits and other charges. The expenses incurred under our 2025 Restructuring Plan are reported in our “Restructuring and other cost reduction initiatives” financial statement line item. The following table summarizes the liabilities recognized related to the 2025 Restructuring Plan (in millions):


	Employee
	Termination			Contract
	Benefits			Terminations		Other		Total
Balance, December 31, 2024	$	-		$	-	$	-	$	-
Expenses incurred in the three months ended March 31, 2025		23.2			-		0.1		23.3
Cash payments		(10.2	)		-		-		(10.2	)
Balance, March 31, 2025	$	13.0		$	-	$	0.1	$	13.1

Expense incurred since the start of the 2025 Restructuring Plan	$	23.2		$	-	$	0.1	$	23.3

Expense estimated to be recognized for the 2025 Restructuring Plan	$	75.0		$	2.0	$	8.0	$	85.0

In December 2023, our management approved a global restructuring program (the “2023 Restructuring Plan”) intended to optimize our cost structure and drive greater efficiencies throughout the company. The 2023 Restructuring Plan concluded in the first quarter of 2025 and resulted in total pre-tax restructuring charges of approximately $117 million. The pre-tax restructuring charges consisted of employee termination benefits; contract terminations for sales agents; and other charges, such as consulting fees. The

expenses incurred under our 2023 Restructuring Plan are reported in our “Restructuring and other cost reduction initiatives” financial statement line item. The following table summarizes the liabilities recognized related to the 2023 Restructuring Plan (in millions):


	Employee
	Termination			Contract
	Benefits			Terminations			Other			Total
Balance, December 31, 2024	$	18.8		$	1.4		$	6.9		$	27.1
Expenses incurred in the three months ended March 31, 2025		(0.7	)		2.5			1.9			3.7
Cash payments		(7.9	)		(2.7	)		(5.7	)		(16.3	)
Foreign currency exchange rate changes		0.6			-			0.1			0.7
Balance, March 31, 2025	$	10.8		$	1.2		$	3.2		$	15.2

Expense incurred since the start of the 2023 Restructuring Plan	$	93.1		$	5.6		$	18.5		$	117.2

In December 2019, our Board of Directors approved, and we initiated, a global restructuring program (the “2019 Restructuring Plan”) with an objective of reducing structural costs to allow us to further invest in higher priority growth opportunities. The 2019 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $400 million. The pre-tax restructuring charges consist of employee termination benefits; contract terminations for facilities and sales agents; and other charges, such as consulting fees, project management expenses and relocation costs, including costs to close a manufacturing facility. The remaining costs relate to the closure of a manufacturing facility, which is expected to be completed in 2025.

The following table summarizes the location on our condensed consolidated statement of earnings and type of cost for our 2019 Restructuring Plan (in millions):


	Three Months Ended March 31, 2025
	Employee
	Termination		Contract
	Benefits		Terminations		Other		Total
Cost of products sold, excluding intangible asset amortization	$	-	$	-	$	1.9	$	1.9
Restructuring and other cost reduction initiatives		4.1		-		2.9		7.0
	$	4.1	$	-	$	4.8	$	8.9

The following table summarizes the liabilities recognized related to the 2019 Restructuring Plan (in millions):


	Employee
	Termination			Contract
	Benefits			Terminations			Other			Total
Balance, December 31, 2024	$	38.0		$	3.8		$	1.3		$	43.1
Expenses incurred in the three months ended March 31, 2025		4.1			-			4.8			8.9
Cash payments		(0.1	)		(0.5	)		(5.0	)		(5.6	)
Foreign currency exchange rate changes		1.2			-			-			1.2
Balance, March 31, 2025	$	43.2		$	3.3		$	1.1		$	47.6

Expense incurred since the start of the 2019 Restructuring Plan	$	156.2		$	35.0		$	185.2		$	376.4

Expense estimated to be recognized for the 2019 Restructuring Plan	$	160.0		$	35.0		$	205.0		$	400.0

We do not include restructuring charges in the operating profit of our reportable segments. We report the expenses for other cost reduction and optimization initiatives in our “Restructuring and other cost reduction initiatives” financial statement line item because these activities also have the goal of reducing costs across the organization. However, since the cost reduction initiative expenses are not considered restructuring, they have been excluded from the amounts presented in this note.