v3.25.2
Restructuring and Other Charges, Net (Tables)
9 Months Ended
Jun. 27, 2025
Restructuring and Other Charges, Net  
Schedule of net restructuring and other charges

For the

For the

Quarters Ended

Nine Months Ended

June 27,

June 28,

June 27,

June 28,

    

2025

    

2024

    

2025

    

2024

    

(in millions)

Restructuring charges, net

$

10

$

16

$

97

$

57

Gain on divestiture

(1)

(21)

(1)

(10)

Costs related to change in place of incorporation

3

11

11

Other charges, net

 

5

 

8

 

2

 

9

Restructuring and other charges, net

$

14

$

6

$

109

$

67

Net restructuring charges by segment

For the

For the

Quarters Ended

Nine Months Ended

June 27,

June 28,

June 27,

June 28,

    

2025

    

2024

    

2025

    

2024

    

(in millions)

Transportation Solutions

$

7

$

9

$

66

$

26

Industrial Solutions

 

3

 

7

 

31

 

31

Restructuring charges, net

$

10

$

16

$

97

$

57

Summary of activity in restructuring reserves

Balance at

Currency

Balance at

  

September 27,

Changes in

Cash

Non-Cash

Translation

June 27,

    

2024

    

Charges

    

Estimate

    

Payments

    

Items

    

and Other

    

2025

    

(in millions)

Fiscal 2025 Actions:

Employee severance

$

$

77

$

$

(15)

$

$

5

$

67

Property, plant, and equipment

3

(3)

Total

80

(15)

(3)

5

67

Fiscal 2024 Actions:

Employee severance

72

2

(2)

(35)

1

38

Property, plant, and equipment

1

2

(3)

Total

72

3

(35)

(3)

1

38

Pre-Fiscal 2024 Actions:

Employee severance

186

11

(6)

(85)

(3)

103

Facility and other exit costs

15

8

(14)

9

Property, plant, and equipment

1

(1)

Total

201

20

(6)

(99)

(1)

(3)

112

Total Activity

$

273

$

103

$

(6)

$

(149)

$

(7)

$

3

$

217

Restructuring reserves included on Consolidated Balance Sheets

June 27,

September 27,

    

2025

    

2024

    

(in millions)

Accrued and other current liabilities

$

185

$

233

Other liabilities

 

32

 

40

Restructuring reserves

$

217

$

273