On March 15, 2026, management of the company approved a restructuring program designed to align the company’s organizational structure and geographic footprint with the operational needs of each function as the company prepares for the intended separation of its businesses (the “2026 Restructuring Actions”). The restructuring actions primarily consist of workforce reductions across commercial and functional support areas and are intended to right‑size the organization and support the future standalone operating models. The restructuring actions are expected to be substantially complete by December 2026.

The company expects to incur aggregate pre‑tax restructuring and asset related charges of approximately $80 million in connection with the 2026 Restructuring Actions, consisting solely of severance and related benefit costs. Reductions in workforce are subject to local regulatory requirements. For the six months ended June 30, 2026, the company recorded pre‑tax restructuring and asset related charges of $78 million, which consist entirely of severance and related benefit costs and are classified as corporate‑related charges. At June 30, 2026, the restructuring liability was $59 million.

Cash payments related to the 2026 Restructuring Actions are expected to total approximately $80 million. Through the second quarter of 2026, the company paid $19 million associated with these charges. Cash payments are expected to be paid over the course of the next year, with substantially all payments anticipated to occur during 2026. The company does not anticipate material revisions to the estimated costs or timing of payments related to the 2026 Restructuring Actions.

On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Restructuring Program"). The plan includes the exit of the company’s production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations. In October 2024, management of the company amended the Crop Protection Operations Strategy Restructuring Program to include updates to its previous estimates and decommissioning and demolition costs associated with the ceasing of operations, primarily at the Pittsburg, California site. Furthermore, on June 12, 2026, the company disclosed that its management recently committed to the next phase of the plan to include the intended cessation of the company's production activities at its site in Asturias, Spain. The intended cessation is subject to a consultation process with the applicable works council and union representatives at the facility. Management revisions were also made to previous estimates associated with the company's exit of its Pittsburg, California production activities.

The company expects to record aggregate pre-tax restructuring and asset related charges of $750 million to $815 million, comprised of $100 million to $125 million of severance and related benefit costs, $350 million to $372 million of asset related and impairment charges and $300 million to $318 million of costs related to exiting the company’s production activities and ceasing operations (inclusive of contract terminations and decommissioning and demolition costs). Decommissioning and demolition costs are expensed on an as-incurred basis. Reductions in workforce are subject to local regulatory requirements. Through the second quarter of 2026, the company recorded net pre-tax restructuring and asset related charges of $674 million inception-to-date under the Crop Protection Operations Strategy Restructuring Program, consisting of $120 million of severance and related benefit costs, $350 million of asset related and impairment charges, $91 million of decommissioning and demolition costs, and $113 million of costs related to contract terminations.

Cash payments related to these charges are anticipated to be $400 million to $443 million, which primarily relate to the payment of severance and related benefits, decommissioning and demolition costs and contract terminations. Through the second quarter of 2026, the company paid $250 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete by the end of 2028.


(In millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Severance and related benefit costs 1	$	18	$	3	$	18	$	12
Asset related charges 2	10		1		10		13
Decommissioning and demolition costs 2	9		19		21		24
Contract termination charges 2	12		56		14		56
Total restructuring and asset related charges - net	$	49	$	79	$	63	$	105


(In millions)	Severance and Related Benefit Costs		Asset Related Charges		Decommissioning and Demolition Costs		Contract Termination Charges		Total
Balance at December 31, 2025	$	32	$	—	$	8	$	54	$	94
Charges to income from continuing operations	18		10		21		14		63
Payments	(11)		—		(24)		(38)		(73)
Asset write-offs	—		(10)		—		—		(10)
Balance at June 30, 2026	$	39	$	—	$	5	$	30	$	74