In the fourth quarter of fiscal 2026, we announced a restructuring plan (the “Fiscal 2026 Plan”) to allow us to invest in key growth opportunities including silicon, optics, security and AI. The total pre-tax charges are estimated to be up to $1 billion consisting of severance and other one-time termination benefits, and other costs. In connection with the Fiscal 2026 Plan, we incurred charges of $511 million in fiscal 2026. The aggregate pre-tax charges are primarily cash-based and consist of severance and other one-time termination benefits, and other costs. We expect this plan to be substantially completed by the end of fiscal 2027.

We initiated a restructuring plan in fiscal 2025 (the “Fiscal 2025 Plan”), in order to allow us to invest in key growth opportunities and drive more efficiencies in our business. In connection with the Fiscal 2025 Plan, we incurred charges of $182 million in fiscal 2026. The aggregate pre-tax charges were primarily cash-based and consisted of severance and other one-time termination benefits, and other costs. In connection with the Fiscal 2025 Plan, we incurred cumulative charges of $926 million and the plan is substantially complete.

We initiated a restructuring plan in fiscal 2024 (the “Fiscal 2024 Plan”), in order to realign the organization and enable further investment in key priority areas. In connection with the Fiscal 2024 Plan, we incurred cumulative charges of $654 million and

the plan is complete. The aggregate pretax charges related to this plan were primarily cash-based and consisted of severance and other one-time termination benefits and other costs.

The following table summarizes the activities related to our restructuring liability, which was included in other current liabilities on our Consolidated Balance Sheets (in millions):


	FISCAL 2026 PLAN				FISCAL 2025 AND PRIOR PLANS
	Employee Severance		Other		Employee Severance		Other		Total
Liability as of July 29, 2023	$	—	$	—	$	167	$	46	$	213
Charges	—		—		731		58		789
Cash payments	—		—		(677)		(14)		(691)
Non-cash and other	—		—		—		(37)		(37)
Liability as of July 27, 2024	—		—		221		53		274
Charges	—		—		617		127		744
Cash payments	—		—		(752)		(18)		(770)
Non-cash and other	—		—		2		(103)		(101)
Liability as of July 26, 2025	—		—		88		59		147
Charges	450		61		142		40		693
Cash payments	(154)		(1)		(178)		(32)		(365)
Non-cash and other	—		(54)		(3)		(38)		(95)
Liability as of July 25, 2026	$	296	$	6	$	49	$	29	$	380