On February 20, 2023, the Company approved a two-year strategic transformation restructuring program (the “Transformation Program”) intended to accelerate the Company’s back-office infrastructure into the cloud and transform its operating model leveraging technology in order to reduce its overall future costs. The Transformation Program included process and system optimization, third party costs associated with technology infrastructure transformation, and elimination of full-time positions. From the inception of the plan through March 31, 2025, the Company incurred total expenses of $140 million, and the plan was complete. These charges were recorded in Selling, general and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income (Loss).

On May 6, 2025, the Audit Committee of the Board of Directors of the Company approved a program (the “Post-Separation Plan” or “PSP”) intended to further optimize our operations following the sale of the Divested Business in July 2024. The PSP includes simplifying our post-divestiture operating model, rationalizing our technology spend, expanding our use of artificial intelligence and automation and continued optimization of real estate. The Company currently expects to record in the aggregate approximately $69 million in pre-tax restructuring costs over the duration of the PSP, which includes primarily cash severance payments and other restructuring cash payments and charges related to technology spend, professional services and optimization of real estate. The Company estimates an annual savings of over $75 million after the PSP is completed. The PSP commenced in the second quarter of 2025 and is expected to be substantially completed over an estimated fifteen-month period from the commencement date. These charges are recorded in Selling, general and administrative expenses in the Condensed Consolidated Statements of Comprehensive Income (Loss).

The following table summarizes restructuring costs by type (in millions):


	Three Months Ended March 31, 2026		Three Months Ended March 31, 2025		Inception to Date		Estimated Remaining Cost		Estimated Total Cost

Transformation Program
Severance and Related Benefits	$	—	$	2	$	45	$	—	$	45
Other Restructuring Costs(1)	—		2		95		—		95
Total Transformation Program Costs	$	—	$	4	$	140	$	—	$	140

Post-Separation Plan
Severance and Related Benefits	$	1	$	—	$	21	$	1	$	22
Other Restructuring Costs(1)	11		—		$	42	5		47
Total PSP Costs	$	12	$	—	$	63	$	6	$	69
Total Restructuring Costs	$	12	$	4	$	203	$	6	$	209

(1)Other restructuring costs primarily include data center exit costs, optimization of real estate, third-party fees associated with the restructuring, and costs associated with transitioning existing technology and processes. For the three months ended March 31, 2026, the Company recorded a $4 million loss on abandonment for certain facilities. The related liabilities will be satisfied under the original terms of the lease, unless buy-outs can be negotiated.

As of March 31, 2026, approximately $8 million of the Company's total severance and related benefits restructuring liability was unpaid and recorded in Accounts payable and accrued liabilities on the Condensed Consolidated Balance Sheets.


	Severance and Related Benefits
	Transformation Program		Post-Separation Plan		Total
(in millions)
Accrued restructuring liability as of December 31, 2025	$	3	$	10	$	13
Severance and related benefits	—		1		1
Cash payments	(1)		(5)		(6)
Accrued restructuring liability as of March 31, 2026	$	2	$	6	$	8