v3.26.1
Plan of Restructuring and Related Costs
 6 Months Ended
Jun. 27, 2026
Plan of Restructuring and Related Costs [Abstract]  
Plan of Restructuring and Related Costs
Note 9 – Plan of Restructuring and Related Costs
On August 6, 2024, we committed to a restructuring plan (the “2024
Plan”) to integrate our acquisitions, right-size
operations and further increase efficiencies.
We expect to record restructuring and related charges associated with
the 2024 Plan through the end of 2027; however,
an estimate of the amount of these charges for 2026 through 2027
has not yet been determined.
During the quarter ended March 28, 2026 and the six months ended June
27, 2026, in connection with the 2024
Plan, we recorded a loss of $
2
million related to the disposal of businesses in the Global Specialty
Products
segment.
This amount is included in the $
41
million of restructuring and related charges discussed above.
Restructuring and related costs recorded for the three and six months ended
June 27, 2026 and June 28, 2025 in
connection with the 2024
Plan consisted of the following:
Three Months Ended June 27, 2026
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
12
$
6
$
3
$
6
$
27
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
1
-
-
1
Exit and other related costs
1
-
-
-
1
Restructuring and related costs
$
13
$
7
$
3
$
6
$
29
Three Months Ended June 28, 2025
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
11
$
5
$
-
$
2
$
18
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
2
-
-
2
Exit and other related costs
2
-
-
-
2
Loss on disposal of a business
1
-
-
-
1
Restructuring and related costs
$
14
$
7
$
-
$
2
$
23
Six Months Ended June 27, 2026
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
16
$
7
$
5
$
6
$
34
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
2
-
-
2
Exit and other related costs
2
1
-
-
3
Loss on disposal of a business
-
2
-
-
2
Restructuring and related costs
$
18
$
12
$
5
$
6
$
41
Six Months Ended June 28, 2025
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
21
$
10
$
1
$
8
$
40
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
1
2
-
-
3
Exit and other related costs
3
-
1
-
4
Loss on disposal of a business
1
-
-
-
1
Restructuring and related costs
$
26
$
12
$
2
$
8
$
48
The following table summarizes the activity related to the liabilities associated
with our restructuring initiatives
for
the six months ended June 27, 2026.
The remaining accrued balance of restructuring and related costs as
of June
27, 2026, which primarily relates to severance and employee-related costs,
is included in accrued expenses: other
within our condensed consolidated balance sheets.
Liabilities related to exited leased facilities are recorded within
our current and non-current operating lease liabilities within our condensed
consolidated balance sheets.
Total
Balance, December 27, 2025
$
49
Restructuring and related costs
41
Non-cash impairment, accelerated depreciation and amortization
(2)
Non-cash impairment related to disposal of a business
(2)
Cash payments and other adjustments
(43)
Balance, June 27, 2026
$
43