Restructuring Programs and Related Costs

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring Programs and Related Costs

The Company engages in a series of restructuring programs related to downsizing its employee base, exiting certain activities, outsourcing certain internal functions and engaging in other actions designed to reduce its cost structure and improve productivity. The implementation of the Company's operational efficiency improvement initiatives has reduced the Company's real estate footprint across all geographies and segments resulting in lease right-of-use asset impairments and other related costs. Management continues to evaluate the Company's businesses, and in the future, there may be additional provisions for new plan initiatives and/or changes in previously recorded estimates as payments are made, or actions are completed. Costs associated with restructuring are generally recognized when it has been determined that a liability has been incurred, upon communication to the affected employees or exit from the leased facility.

A summary of the Company's restructuring program activity in the table below for the three months ended March 31, 2026 and 2025 includes:

•Severance and related costs - employee termination costs, which include severance, retraining and other related contractual benefits;

•Contract termination and other costs - incremental, non-recurring costs related to professional support services associated with the implementation of certain cost reductions and strategic transformation programs and non-lease costs associated with exited lease facilities; and

•Asset impairments - non-cash impairments of operating lease right-of-use ("ROU") assets and associated leasehold improvements related to the reduction of the Company's real estate footprint.


(in millions)	Severance and Related Costs		Contract Termination and Other		Asset Impairments		Total
Accrued Balance at December 31, 2025	$	5	$	3	$	—	$	8
Provision	6		2		—		8
Changes in estimates	—		—		—		—
Total Net Current Period Charges(1)	6		2		—		8
Charges against reserve and currency	(5)		(3)		—		(8)
Accrued Balance at March 31, 2026	$	6	$	2	$	—	$	8


(in millions)	Severance and Related Costs		Contract Termination and Other		Asset Impairments		Total
Accrued Balance at December 31, 2024	$	13	$	2	$	—	$	15
Provision	1		1		2		4
Changes in estimates	—		—		—		—
Total Net Current Period Charges(1)	1		1		2		4
Charges against reserve and currency	(8)		(1)		(2)		(11)

Accrued Balance at March 31, 2025	$	6	$	2	$	—	$	8

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(1)Represents amounts recognized within the Condensed Consolidated Statements of Income (Loss) for the periods shown.

No restructuring and related costs are allocated to the segments.