v3.25.2
Restructuring and Related Activities (Tables)
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs RESTRUCTURING
In February 2025, the Company approved and initiated a restructuring program to streamline our organization given the significantly lower number of countries that we operate in. Additionally, we are right sizing our development company to focus on executing on the backlog and pursuing larger but fewer projects to better serve our core customers. Pre-tax restructuring charges related to employee severance costs were $4 million and $52 million for the three and six months ended June 30, 2025. Of the $52 million recognized for the six months ended June 30, 2025, $43 million was classified within Cost of sales and $9 million was classified as General and administrative expenses on the Condensed Consolidated Statements of Operations. For the six months ended June 30, 2025, $19 million was recognized at the Energy Infrastructure SBU, $17 million at the Renewables SBU, $5 million at the Utilities SBU, $1 million at the New Energy Technologies SBU, and $10 million at Corporate and Other.
The Company made cash payments of $36 million during the six months ended June 30, 2025, including $5 million of termination benefits previously accrued for in the projected pension benefit obligation. As of June 30, 2025, $22 million of pre-tax restructuring charges were reflected within Accrued and other liabilities on the Condensed Consolidated Balance Sheets.