The following table provides a summary of restructuring related charges as presented in the consolidated statements of operations (in millions):


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024
Restructuring related charges in cost of goods sold	$	0.5	$	357.9	$	—
Restructuring related charges, net in operating expenses	15.5		353.9		131.1
Restructuring related charges included in net income (loss)	$	16.0	$	711.8	$	131.1

The following table presents details related to the restructuring related charges as presented in the consolidated statements of operations (in millions):


	Year Ended
	January 31, 2026		February 1, 2025		February 3, 2024
Employee severance and related costs	$	7.0	$	26.3	$	93.9
Impairment and write-off of assets
Acquired intangible assets	—		240.1		—
Purchased technology licenses	—		159.0		28.6
Inventories	—		63.1		—
Property and equipment	—		36.0		—
Other non-current assets	—		25.2		—
Recognition of contractual obligations	23.5		114.0		—

Other, net	(14.5)		48.1		8.6
	$	16.0	$	711.8	$	131.1

Fiscal 2025 Plan. A restructuring plan was initiated during the third quarter of fiscal 2025 (the “Fiscal 2025 Plan”) to increase research and development investment in the data center end market and reduce investment in new product development in other end markets including the cancellation of certain future product releases. As a result, the Company was required to assess the recoverability of related long-lived assets. On completion of the assessment, the Company determined the carrying values of certain long-lived assets were not recoverable. The Company utilized a discounted cash flow method of valuation to determine the fair value of the associated assets and liabilities and compared to their carrying values, which resulted in recognition of asset impairment charges for acquired intangible assets, purchased technology licenses, and property and equipment. The Company’s assumptions included future expected revenues, expenses, capital expenditures and other costs, discount rate, and whether or not alternative uses were available for affected assets.

The Company recorded restructuring and other related charges of $30.0 million for the year ended January 31, 2026 and $702.7 million for the year ended February 1, 2025 related to the Fiscal 2025 Plan. Restructuring charges are mainly comprised of impairment and write-off of acquired intangible assets, purchase technology licenses, inventories, property and equipment and other non-current assets, as well as recognition of contractual obligations, severance, other one-time termination benefits, and other costs. The restructuring charges include $159.0 million impairment of capitalized purchased technology licenses that the Company had ceased use of in the third quarter of fiscal 2025. In addition, during fiscal 2025, the Company recognized $97.8 million of restructuring charges related to payment obligations associated with impaired technology license agreements. See “Note 8 – Commitments and Contingencies” for additional information. The Company expects these restructuring actions to be substantially completed by the end of fiscal 2027.

Fiscal 2024 Plan. A restructuring plan was initiated during the first quarter of fiscal 2024 (the “Fiscal 2024 Plan”) to streamline the organization and optimize resources. Restructuring charges were mainly comprised of severance, other one-time termination benefits, impairment and write-off of purchased technology licenses and equipment, and other costs. The Company recorded restructuring and other related charges of $9.1 million for the year ended February 1, 2025 and $130.8 million for the year ended February 3, 2024 related to the Fiscal 2024 Plan. As of the end of fiscal 2026, substantially all actions relating to the Fiscal 2024 Plan have been completed.

The following table sets forth a reconciliation of the beginning and ending restructuring liability balances by each major type of cost associated with the restructuring charges (in millions):



	Prior Restructuring Plans	Fiscal 2024 Plan	Fiscal 2025 Plan
				Other Exit Related Costs		Employee Severance and Related Costs		Other Exit Related Costs		Employee Severance and Related Costs		Other Exit Related Costs		Total






































Balance at February 3, 2024				$	0.8	$	15.5	$	0.7	$	—	$	—	$	17.0
Charges (1)				—		6.9		2.2		19.4		156.8		185.3
Net cash payments				(0.8)		(22.4)		(0.7)		(6.5)		(11.4)		(41.8)
Non-cash items (2)				—		—		(2.2)		—		170.8		168.6
Balance at February 1, 2025				—		—		—		12.9		316.2		329.1
Charges (3)				—		—		—		7.0		23.0		30.0
Net cash payments				—		—		—		(19.5)		(82.1)		(101.6)
Balance at January 31, 2026				—		—		—		0.4		257.1		257.5
Less: non-current portion				—		—		—		—		193.9		193.9
Current portion				$	—	$	—	$	—	$	0.4	$	63.2	$	63.6

(1)Impairment and other non-cash charges of $526.5 million recognized in fiscal 2025 were recorded directly to the consolidated statements of operations and were not included in the restructuring liability balances above.

(3)Restructuring gain related to sale of property of $14.0 million recognized in fiscal 2026 was recorded directly to the consolidated statements of operations and was not included in the restructuring liability balances above. The sale of property was affected by a prior restructuring plan associated with project and facility reductions to optimize resources.

The current portion of the restructuring liability at January 31, 2026 is comprised of $55.1 million and $8.5 million included as components of accrued liabilities and accounts payable, respectively, and the non-current portion of the restructuring liability is included as a component of other non-current liabilities in the accompanying consolidated balance sheets.