In 2023, BMS commenced a restructuring plan to accelerate the delivery of medicines to patients by evolving and streamlining its enterprise operating model in key areas, such as R&D, manufacturing, commercial and other functions, to ensure its operating model supports and is appropriately aligned with the Company’s strategy to invest in key priorities. These changes primarily include (i) transforming R&D operations to accelerate pipeline delivery, (ii) enhancing BMS's commercial operating model, and (iii) establishing a more responsive manufacturing network. Total charges for the 2023 Restructuring Plan are expected to be approximately $2.5 billion through 2027, with $1.8 billion incurred to date. The remaining charges consist primarily of site exit costs, including impairment and accelerated depreciation of property, plant and equipment, and employee termination costs.

Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from acquisitions. For these plans, the remaining charges of approximately $45 million consist primarily of IT system integration costs, employee termination costs, and to a lesser extent, site exit costs, including impairment and accelerated depreciation of property, plant and equipment.


	Three Months Ended June 30,				Six Months Ended June 30,
Dollars in millions	2026		2025		2026		2025
2023 Restructuring Plan	$	(49)	$	231	$	(69)	$	374
Other Acquisition Plans	17		48		39		95
Total charges	$	(32)	$	279	$	(31)	$	469

Employee termination costs	$	48	$	220	$	46	$	352
Other termination costs	8		3		14		4
Provision for restructuring	56		223		61		356
Integration expenses	17		32		36		74
Accelerated depreciation	—		12		—		27
Asset impairments	1		10		3		18
Other shutdown (income)/expense, net	(106)		2		(130)		(5)
Total charges	$	(32)	$	279	$	(31)	$	469

Cost of products sold	$	2	$	3	$	2	$	5
Selling, general and administrative	—		3		—		5
Research and development	3		18		5		39
Other (income)/expense, net	(37)		255		(38)		421
Total charges	$	(32)	$	279	$	(31)	$	469


	Six Months Ended June 30,
Dollars in millions	2026		2025
Beginning balance	$	315	$	297
Provision for restructuring	61		356
Payments	(221)		(310)
Foreign currency translation and other	(4)		10
Ending balance	$	150	$	353