The Company engages in a series of restructuring programs related to downsizing its employee base, exiting certain activities, outsourcing certain internal functions and engaging in other actions designed to reduce its cost structure and improve productivity. The implementation of the Company's operational efficiency improvement initiatives has reduced the Company's real estate footprint across all geographies and segments resulting in lease right-of-use asset impairments and other related costs.

In 2026, the Company initiated a transformation project to accelerate growth, improve delivery, modernize technology and optimize support functions (the "2026 Restructuring Program"). Management has estimated that the restructuring and related costs of this project will be in the range of $30 million to $50 million. The estimated completion date of this project is the end of the first half of 2027.

In the future, there may be additional provisions or changes in estimates for the 2026 Restructuring Program or other previously disclosed restructuring programs as payments are made, or actions are completed. Costs associated with restructuring are generally recognized when it has been determined that a liability has been incurred, upon communication to the affected employees or exit from the leased facility.

A summary of the Company's restructuring program activity in the table below for the six months ended June 30, 2026 and 2025 includes:

•Severance and related costs - employee termination costs, which include severance, retraining and other related contractual benefits;

•Contract termination and other related costs - incremental, non-recurring costs related to professional support services associated with the implementation of certain cost reductions and strategic transformation programs in 2026 and non-lease costs associated with exited lease facilities in both years; and

•Asset impairments - non-cash impairments of operating lease right-of-use assets and associated leasehold improvements related to the reduction of the Company's real estate footprint.


(in millions)	Severance and Related Costs		Contract Termination and Other Related Costs		Asset Impairments		Total
Accrued Balance at December 31, 2025	$	5	$	3	$	—	$	8
Provision	19		8		1		28
Changes in estimates	—		—		—		—
Total Net Current Period Charges(1)	19		8		1		28
Charges against reserve and currency	(12)		(7)		(1)		(20)
Accrued Balance at June 30, 2026	$	12	$	4	$	—	$	16


(in millions)	Severance and Related Costs		Contract Termination and Other Related Costs		Asset Impairments		Total
Accrued Balance at December 31, 2024	$	13	$	2	$	—	$	15
Provision	7		4		1		12
Changes in estimates	—		—		—		—
Total Net Current Period Charges(1)	7		4		1		12
Charges against reserve and currency	(12)		(4)		(1)		(17)

Accrued Balance at June 30, 2025	$	8	$	2	$	—	$	10

(1)Represents amounts recognized within the Condensed Consolidated Statements of Income (Loss) for the periods shown.