On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Restructuring Program"). The plan includes the exit of the company's production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations. In October 2024, management of the company amended the Crop Protection Operations Strategy Restructuring Program to include updates to its previous estimates and decommissioning and demolition costs associated with the ceasing of operations, primarily at the Pittsburg, California site.

The company expects to record aggregate pre-tax restructuring and asset related charges of $650 million to $700 million, comprised of $85 million to $105 million of severance and related benefit costs, $320 million to $340 million of asset related and impairment charges and $245 million to $255 million of costs related to exiting the company’s production activities and ceasing operations (inclusive of contract terminations and decommissioning and demolition costs). Decommissioning and demolition costs will be expensed on an as-incurred basis. Reductions in workforce are subject to local regulatory requirements. Through the first quarter of 2025, the company recorded net pre-tax restructuring and asset related charges of $487 million inception-to-date under the Crop Protection Operations Strategy Restructuring Program, consisting of $100 million of severance and related benefit costs, $339 million of asset related and impairment charges, $15 million of decommissioning and demolition costs, and $33 million of costs related to contract terminations.

Cash payments related to these charges are anticipated to be $330 million to $360 million, which primarily relate to the payment of severance and related benefits, decommissioning and demolition costs and contract terminations. Through the first quarter of 2025, the company paid $81 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete by the end of 2026.


(In millions)	Three Months Ended March 31,
	2025		2024
Severance and related benefit costs1	$	9	$	14
Asset related charges2	12		41
Decommissioning and demolition costs2	5		—

Total restructuring and asset related charges - net	$	26	$	55


(In millions)	Severance and Related Benefit Costs		Asset Related Charges		Decommissioning and Demolition Costs		Total
Balance at December 31, 2024	$	70	$	—	$	—	$	70
Charges to income from continuing operations	9		12		5		26
Payments	(12)		—		(5)		(17)
Asset write-offs	—		(12)		—		(12)
Balance at March 31, 2025	$	67	$	—	$	—	$	67

The company recognized charges of $20 million for the three months ended March 31, 2024, in restructuring and asset related charges - net, in the interim Consolidated Statement of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, which as of the end of the second quarter of 2024 was complete.