See our consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended December 27, 2025 for additional information on our restructuring activities.

We have restructuring programs globally, which are focused primarily on streamlining our organizational design. As of March 28, 2026, we expect to eliminate approximately 400 positions during the remainder of 2026 related to these programs, primarily outside of North America. For the three months ended March 28, 2026, restructuring activities resulted in a net benefit of $23 million and included a net benefit of $45 million of other restructuring costs, a net expense of $12 million of asset-related costs, and a net expense of $10 million of severance and employee benefit costs. Other restructuring costs included a non-cash benefit related to the settlement of our U.S. Retiree Life Insurance Plan during the three months ended March 28, 2026. Restructuring activities resulted in expenses of $4 million for the three months ended March 29, 2025.


	Severance and Employee Benefit Costs		Other Exit Costs		Total
Balance at December 27, 2025	$	9	$	2	$	11
Charges/(credits)	10		—		10
Cash payments	(1)		(1)		(2)

Balance at March 28, 2026	$	18	$	1	$	19

We expect the majority of the liability for severance and employee benefit costs as of March 28, 2026 to be paid by the end of 2026. The liability for other exit costs relates to lease obligations. The cash impact of these obligations will continue for the duration of the lease terms, which expire in 2026.


	For the Three Months Ended
	March 28, 2026		March 29, 2025
Severance and employee benefit costs - Cost of products sold	$	11	$	(2)
Severance and employee benefit costs - SG&A	(1)		6

Asset-related costs - Cost of products sold	12		—




Other costs - Other expense/(income)	(45)		—
	$	(23)	$	4

We do not include our restructuring activities within Segment Adjusted Operating Income (as defined in Note 16, Segment Reporting). The pre-tax impact of allocating such expenses/(income) to our segments would have been (in millions):