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


	Restructuring		Asset Impairments		Other		Total
Quarter ended July 4, 2025:
2025 Manufacturing Realignment Program	$	2.9	$	40.6	$	5.6	$	49.1
2024 Business Realignment	(0.2)		—		0.3		0.1

Total	$	2.7	$	40.6	$	5.9	$	49.2


Quarter ended June 28, 2024:
2024 Business Realignment	$	52.5	$	15.7	$	3.1	$	71.3
Other	0.2		—		1.0		1.2



Total	$	52.7	$	15.7	$	4.1	$	72.5


	Restructuring		Asset Impairments		Other		Total
Sixth months ended July 4, 2025
2025 Manufacturing Realignment Program	$	63.1	$	472.1	$	50.5	$	585.7
2024 Business Realignment	0.7		—		2.1		2.8

Total	$	63.8	$	472.1	$	52.6	$	588.5


Sixth months ended June 28, 2024
2024 Business Realignment	$	52.5	$	15.7	$	3.1	$	71.3
Other	1.2		—		1.4		2.6



Total	$	53.7	$	15.7	$	4.5	$	73.9

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 July 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 $64 million. Of this, approximately $2.9 million and $63.1 million was recognized during the

Of the aggregate expenses relating to the actions announced so far in 2025, the Company paid approximately $54.0 million to approximately 2,300 terminated employees and had approximately $9.1 million accrued as of July 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 $40.6 million and $472.1 million during the quarter and six months ended July 4, 2025, respectively, related to previous investments in manufacturing equipment at certain manufacturing facilities pursuant to held-for-sale accounting guidance. During each respective quarter of 2025, it was determined that the assets identified by 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 from the date impairment was identified. 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 noted in the table above of $5.6 million and $50.5 million for the quarter and six months ended July 4, 2025, respectively, 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 $7.3 million and $35.6 million for the quarter and six months ended July 4, 2025, respectively, 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.

During the six months ended July 4, 2025, 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 Manufacturing Realignment Program. These charges were recorded within Cost of revenue in the Consolidated Statement of Operations.

During the six months ended July 4, 2025, the Company recorded $235.8 million related to excess and obsolete inventory charges. Of the total reserves recorded, $230.3 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.