We have engaged in various restructuring programs to strengthen our business and streamline our operations, including

taking actions related to the location and use of leased facilities. Our recent restructuring programs include the following:

•Value Creation Plan - During the fourth quarter of 2024, we approved a broad-based plan to optimize our business

model, which includes reductions in force and lease rationalization activities. We expect to incur approximately $13 of

•Segment Optimization - During the second quarter of 2023, we approved a restructuring plan to reduce operational

costs within targeted areas of the Company, with the primary cost savings driver being from a reduction in workforce.

The following table summarizes the pre-tax charges by activity and program during the periods indicated:


	Three Months Ended March 31,
	2026	2025
Severance and related benefit costs
Value Creation Plan	$11.9	$24.0
Segment Optimization	–	0.4
Total Severance and related benefit costs	11.9	24.4
Exit and disposal costs
Value Creation Plan	0.1	0.3
Total Exit and disposal costs	0.1	0.3
Restructuring costs	$12.0	$24.7

The following table summarizes the pre-tax charges by program and segment during the periods indicated:

The table below summarizes the changes in our restructuring reserves by activity during the periods indicated:


	Severance and related benefit costs	Exit and disposal costs	Total
Reserve balance as of December 31, 2024	$2.3	$–	$2.3
Expenses recorded	24.4	0.3	24.7
Payments made	(15.3)	(0.1)	(15.4)
Noncash items	(2.0)	(0.2)	(2.2)
Reserve balance as of March 31, 2025	$9.4	$–	$9.4

Reserve balance as of December 31, 2025	$6.5	$–	$6.5
Expenses recorded	11.9	0.1	12.0
Payments made	(13.0)	(0.1)	(13.1)
Noncash items	(0.1)	–	(0.1)
Reserve balance as of March 31, 2026	$5.3	$–	$5.3