Restructuring charges primarily consist of employee separation benefits under existing severance programs, foreign statutory termination benefits, certain one-time termination benefits, contract termination costs and other costs that are associated with restructuring actions. Certain restructuring charges are accrued prior to payments made in accordance with applicable guidance. For such charges, the amounts are determined based on estimates prepared at the time the restructuring actions were approved by management. Inventory write offs due to restructuring are reported in Cost of sales and all other restructuring charges are reported in Selling, general and administrative expense within the Condensed Consolidated Statements of Income.

In the first quarter of 2025, the Company implemented a restructuring plan (the “JBT Marel 2025 Integration restructuring plan”) aiming to achieve a portion of its synergy targets as a result of the Marel acquisition to optimize the overall cost structure for the combined Company on a global basis. The initiatives under this plan include streamlining operations and adjusting our general and administrative infrastructure to meet the strategic needs of the Company. The total estimated cost in connection with this plan is in the range of $55 million to $60 million. The Company recognized cumulative restructuring charges of $29 million and expects to recognize the remaining costs by the end of 2026.

The following table details the cumulative restructuring charges reported in operating income for the JBT Marel 2025 Integration restructuring plan since its implementation:


	Cumulative Amount		During the Quarter Ended		Cumulative Amount
(In millions)	Balance as of December 31, 2025		March 31, 2026			Balance as of March 31, 2026
Severance and related expense, net of release	$	29	$	(2)		$	27
Gain on sale of building	—		(1)			(1)

Other	2		1			3
Total restructuring charges, net	$	31	$	(2)		$	29

Restructuring charges, net was ($2) million and $11 million for the three months ended March 31, 2026 and 2025, respectively, primarily related to severance and related costs in both periods. Total restructuring charges, net for the three months ended March 31, 2026 included a $4 million release of severance costs no longer expected to be paid as a result of differences between actual severance payments and original estimates, as well as employee attrition.

The liability balance for the JBT Marel 2025 Integration restructuring plan is included in Other current liabilities in the Condensed Consolidated Balance Sheets. The table below details the activities for the three months ended March 31, 2026 for the JBT Marel 2025 Integration restructuring plan:


			Impact to Earnings
(In millions)	Balance as of December 31, 2025		Charged to Earnings		Releases		Cash Payments		Balance as of March 31, 2026
Severance and related	$	16	$	2	$	(4)	$	(5)	$	9

Total	$	16	$	2	$	(4)	$	(5)	$	9