v3.26.1
BUSINESS OPTIMIZATION CHARGES (Tables)
6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Summary of Business Optimization Charges
During the three and six months ended June 30, 2026 and 2025, we recorded the following charges related to business optimization programs.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2026202520262025
Restructuring charges$$14 $63 $58 
Costs to implement business optimization programs1
12 
Total business optimization charges$$17 $75 $62 
1Costs to implement business optimization programs for the three and six months ended June 30, 2026 and 2025, respectively, consisted primarily of external consulting and transition costs, including employee compensation and related costs. These costs were primarily included within cost of sales and SG&A expense.
Components of Restructuring Charges
During the three and six months ended June 30, 2026 and 2025, we recorded the following restructuring charges.
Three months ended June 30, 2026
(in millions)COGSSG&AR&DTotal
Employee termination costs$$(1)$— $— 
Contract termination and other costs— 
Total restructuring charges$$(1)$$
Three months ended June 30, 2025
(in millions)COGSSG&ATotal
Employee termination costs$(1)$$
Contract termination and other costs
Asset write offs
Total restructuring charges$$10 $14 
Six months ended June 30, 2026
(in millions)COGSSG&AR&DTotal
Employee termination costs$11 $34 $13 $58 
Contract termination and other costs— 
Asset write offs— — 
Total restructuring charges$13 $35 $15 $63 
Six months ended June 30, 2025
(in millions)COGSSG&AR&DTotal
Employee termination costs$11 $19 $$31 
Contract termination and other costs— 
Asset write offs19 — 23 
Total restructuring charges$17 $40 $$58 
Summary of Activity in Reserves Related to Restructuring Initiatives
The following table summarizes activity in the liability related to our restructuring initiatives.
(in millions)
Liability balance as of December 31, 2025$133 
Charges69 
Payments(96)
Reserve adjustments(7)
Currency translation(1)
Liability balance as of June 30, 2026$98