2. Restructuring and Other Charges, Net

Net restructuring and other charges consisted of the following:

​

​

Restructuring Charges, Net

Net restructuring charges by segment were as follows:

​

​

Activity in our restructuring reserves was as follows:

​

​

Fiscal 2026 Actions

During fiscal 2026, we initiated a restructuring program to optimize our manufacturing footprint and improve the cost structure of our organization. During the nine months ended June 26, 2026, we recorded restructuring charges of $86 million in connection with this program. We expect to complete all restructuring actions commenced during the nine months ended June 26, 2026 by the end of fiscal 2029 and to incur additional charges of approximately $20 million related primarily to employee severance and property, plant, and equipment in the Transportation Solutions segment.

Fiscal 2025 Actions

During fiscal 2025, we initiated a restructuring program associated with footprint consolidation and cost structure improvements in both of our segments. In connection with this program, during the nine months ended June 26, 2026 and June 27, 2025, we recorded net restructuring credits of $2 million and charges of $80 million, respectively. We expect to complete all restructuring actions commenced during fiscal 2025 by the end of fiscal 2033 and to incur additional charges of approximately $10 million related primarily to facility exit costs in the Industrial Solutions segment.

Pre-Fiscal 2025 Actions

During the nine months ended June 26, 2026 and June 27, 2025, we recorded net restructuring charges of $12 million and $17 million, respectively, related to pre-fiscal 2025 actions. We expect that any additional charges related to restructuring actions commenced prior to fiscal 2025 will be insignificant.

Total Restructuring Reserves

Restructuring reserves included on the Condensed Consolidated Balance Sheets were as follows:

​

​