The components of impairment and restructuring costs are as follows:


	Three months ended June 30,		Six months ended June 30,
	2025	2024	2025	2024
Impairment charges	$184	$—	$184	$—
Restructuring costs	96	—	111	—
Impairment and restructuring costs	$280	$—	$295	$—

The components of impairment charges are as follows:


	Three months ended June 30,		Six months ended June 30,
	2025	2024	2025	2024
Impairment of property, plant and equipment	$167	$—	$167	$—
Impairment of other assets	17	—	17	—
Impairment charges	$184	$—	$184	$—

These impairment charges are recognized in the Condensed Consolidated Statements of Operations caption “Impairment and

Of the total impairment charges, $176 million of these were triggered by the announcement on April 30, 2025, whereby the Company

announced it would permanently close the Company’s coated recycled board mill in St. Paul, Minnesota, U.S., discontinue production

at its containerboard mill in Forney, Texas, U.S. (the “Mill Closures”) and had initiated consultations with local works councils in

Germany with a view to permanently closing two converting facilities there (together with the Mill Closures, the “April 2025

Announced Closures”). These mills in the U.S. had ceased production by June 30, 2025.

Following our decision to permanently close the above facilities, the Company assessed the recoverability of the associated long-lived

assets being property, plant and equipment in accordance with ASC 360, “Property, Plant, and Equipment.”

The fair value of the property, plant and equipment assets was determined based on their estimated selling price in an orderly

transaction between market participants at the measurement date.

As a result of this assessment, an impairment charge of $159 million was recognized for the property, plant and equipment of the

facilities affected by the April 2025 announcement. An impairment charge of $17 million was recognized in relation to spare parts

included in inventories in these facilities.

The segmental split of the restructuring costs of $96 million for the three months ended June 30, 2025 shown in the table above is as

•$43 million was recognized in the North America segment

•$50 million was recognized in the Europe, MEA and APAC segment

•$3 million was recognized in the LATAM segment.

The segmental split of the restructuring costs of $111 million for the six months ended June 30, 2025 shown in the table above is as

•$54 million was recognized in the North America segment

•$54 million was recognized in the Europe, MEA and APAC segment

•$3 million was recognized in the LATAM segment.

5. Impairment and Restructuring Costs - continued

The table below sets forth restructuring costs by type incurred:

Of the total restructuring costs, $54 million for the three and six months ended June 30, 2025 relates to the April 2025 Announced

Closures. The Company expects to recognize future additional charges of $45 million associated with the April 2025 Announced

Closures through 2026. These restructuring costs are recorded in “Other current liabilities” in the Condensed Consolidated Balance

Sheets. The majority of these charges will be paid within 12 months of the reporting date.

The remaining restructuring costs relate to individual restructuring actions which are individually and cumulatively immaterial.