In February 2024, we approved and initiated a global restructuring initiative designed to better align our assets and further improve the efficiency of the business. The initiative was approved and funded by our corporate office and therefore these costs are not allocated to our segments.

We incurred $193 million and $167 million in restructuring and other costs for the nine months ended September 30, 2026 and September 30, 2025, respectively. The tables below summarize the activity related to the global restructuring initiative.


(in thousands)	Severance and other employee costs		Other restructuring costs (1)		Total
Liability as of January 1, 2026	$	17,988	$	709	$	18,697
Restructuring and other costs	32,211		161,215		193,426
Cash payments	(29,489)		(146,767)		(176,256)
Non-cash charges	—		(14,768)		(14,768)
Translation	(269)		(8)		(277)
Liability as of September 30, 2026	$	20,441	$	381	$	20,822

(1)Amount includes professional fees, accelerated rent, facility closure costs, moving expenses and asset impairment costs. Amount excludes a $6 million non-cash charge reflected in cost of goods sold for inventory liquidated rather than moved during facility consolidation in connection with the restructuring.


(in thousands)	Severance and other employee costs		Other restructuring costs (1)		Total
Liability as of January 1, 2025	$	23,830	$	926	$	24,756
Restructuring and other costs	48,628		118,689		167,317
Cash payments	(46,559)		(103,435)		(149,994)
Non-cash charges	—		(14,458)		(14,458)
Translation	1,846		41		1,887
Liability as of September 30, 2025	$	27,745	$	1,763	$	29,508