| Summary of Charges Recorded in Connection with Restructuring by Reportable Segment |
Following is a summary of the charges recorded in connection with MAP 2025 by reportable segment, as well as the total expected costs related to projects identified to date:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
Three Months
Ended |
|
|
Cumulative
Costs |
|
|
Total
Expected |
|
(In thousands) |
|
August 31, 2026 |
|
|
August 31, 2025 |
|
|
to Date |
|
|
Costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CPG Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
Severance and benefit (credits) costs |
|
$ |
(152 |
) |
|
$ |
1,941 |
|
|
$ |
23,663 |
|
|
$ |
24,917 |
|
Facility closure and other related costs |
|
|
829 |
|
|
|
655 |
|
|
|
7,004 |
|
|
|
9,404 |
|
Total Charges |
|
$ |
677 |
|
|
$ |
2,596 |
|
|
$ |
30,667 |
|
|
$ |
34,321 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PCG Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
Severance and benefit (credits) costs |
|
$ |
(71 |
) |
|
$ |
3,307 |
|
|
$ |
14,055 |
|
|
$ |
14,055 |
|
Facility closure and other related costs |
|
|
61 |
|
|
|
636 |
|
|
|
5,450 |
|
|
|
6,190 |
|
Other restructuring costs |
|
|
- |
|
|
|
- |
|
|
|
7,092 |
|
|
|
7,092 |
|
Total (Credits) Charges |
|
$ |
(10 |
) |
|
$ |
3,943 |
|
|
$ |
26,597 |
|
|
$ |
27,337 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Segment: |
|
|
|
|
|
|
|
|
|
|
|
|
Severance and benefit (credits) costs |
|
$ |
(22 |
) |
|
$ |
1,828 |
|
|
$ |
23,049 |
|
|
$ |
23,049 |
|
Facility closure and other related costs |
|
|
- |
|
|
|
447 |
|
|
|
4,691 |
|
|
|
4,691 |
|
Other restructuring costs |
|
|
- |
|
|
|
- |
|
|
|
532 |
|
|
|
532 |
|
Total (Credits) Charges |
|
$ |
(22 |
) |
|
$ |
2,275 |
|
|
$ |
28,272 |
|
|
$ |
28,272 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate/Other: |
|
|
|
|
|
|
|
|
|
|
|
|
Severance and benefit (credits) |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(50 |
) |
|
$ |
(50 |
) |
Total (Credits) |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(50 |
) |
|
$ |
(50 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated: |
|
|
|
|
|
|
|
|
|
|
|
|
Severance and benefit (credits) costs |
|
$ |
(245 |
) |
|
$ |
7,076 |
|
|
$ |
60,717 |
|
|
$ |
61,971 |
|
Facility closure and other related costs |
|
|
890 |
|
|
|
1,738 |
|
|
|
17,145 |
|
|
|
20,285 |
|
Other restructuring costs |
|
|
- |
|
|
|
- |
|
|
|
7,624 |
|
|
|
7,624 |
|
Total Charges |
|
$ |
645 |
|
|
$ |
8,814 |
|
|
$ |
85,486 |
|
|
$ |
89,880 |
|
The following is a summary of the charges recorded in connection with this program by reportable segment, as well as the total expected costs related to projects identified to date:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
Cumulative
Costs |
|
|
Total
Expected |
|
(In thousands) |
|
August 31, 2026 |
|
|
to Date |
|
|
Costs |
|
CPG Segment: |
|
|
|
|
|
|
|
|
|
Severance and benefit costs |
|
$ |
385 |
|
|
$ |
9,353 |
|
|
$ |
12,855 |
|
Facility closure and other related costs |
|
|
13 |
|
|
|
236 |
|
|
|
236 |
|
Total Charges |
|
$ |
398 |
|
|
$ |
9,589 |
|
|
$ |
13,091 |
|
|
|
|
|
|
|
|
|
|
|
PCG Segment: |
|
|
|
|
|
|
|
|
|
Severance and benefit costs |
|
$ |
599 |
|
|
$ |
6,595 |
|
|
$ |
8,556 |
|
Facility closure and other related costs |
|
|
297 |
|
|
|
842 |
|
|
|
6,325 |
|
Total Charges |
|
$ |
896 |
|
|
$ |
7,437 |
|
|
$ |
14,881 |
|
|
|
|
|
|
|
|
|
|
|
Consumer Segment: |
|
|
|
|
|
|
|
|
|
Severance and benefit costs |
|
$ |
3,043 |
|
|
$ |
9,709 |
|
|
$ |
9,709 |
|
Facility closure and other related costs |
|
|
175 |
|
|
|
822 |
|
|
|
1,045 |
|
Total Charges |
|
$ |
3,218 |
|
|
$ |
10,531 |
|
|
$ |
10,754 |
|
|
|
|
|
|
|
|
|
|
|
Corporate/Other: |
|
|
|
|
|
|
|
|
|
Severance and benefit costs |
|
$ |
- |
|
|
$ |
1,373 |
|
|
$ |
1,373 |
|
Total Charges |
|
$ |
- |
|
|
$ |
1,373 |
|
|
$ |
1,373 |
|
|
|
|
|
|
|
|
|
|
|
Consolidated: |
|
|
|
|
|
|
|
|
|
Severance and benefit costs |
|
$ |
4,027 |
|
|
$ |
27,030 |
|
|
$ |
32,493 |
|
Facility closure and other related costs |
|
|
485 |
|
|
|
1,900 |
|
|
|
7,606 |
|
Total Charges |
|
$ |
4,512 |
|
|
$ |
28,930 |
|
|
$ |
40,099 |
|
|
| Summary of Activity in Restructuring Reserves |
A summary of the activity in the restructuring reserves related to MAP 2025 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Severance and
Benefits Costs |
|
|
Facility
Closure and
Other Related
Costs |
|
|
Total |
|
Balance at June 1, 2026 |
|
$ |
7,849 |
|
|
$ |
117 |
|
|
$ |
7,966 |
|
Charges (credits) to expense |
|
|
(245 |
) |
|
|
890 |
|
|
|
645 |
|
Cash payments charged against reserve |
|
|
(1,890 |
) |
|
|
(973 |
) |
|
|
(2,863 |
) |
Non-cash charges and other adjustments |
|
|
(52 |
) |
|
- |
|
|
|
(52 |
) |
Balance at August 31, 2026 |
|
$ |
5,662 |
|
|
$ |
34 |
|
|
$ |
5,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Severance and
Benefits Costs |
|
|
Facility
Closure and
Other Related
Costs |
|
|
Total |
|
Balance at June 1, 2025 |
|
$ |
13,055 |
|
|
$ |
432 |
|
|
$ |
13,487 |
|
Charges to expense |
|
|
7,076 |
|
|
|
1,738 |
|
|
|
8,814 |
|
Cash payments charged against reserve |
|
|
(5,286 |
) |
|
|
(1,653 |
) |
|
|
(6,939 |
) |
Non-cash charges and other adjustments |
|
|
188 |
|
|
|
(83 |
) |
|
|
105 |
|
Balance at August 31, 2025 |
|
$ |
15,033 |
|
|
$ |
434 |
|
|
$ |
15,467 |
|
|