Operating Model Transformation |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Restructuring and Related Activities [Abstract] | |
| Operating Model Transformation | Operating Model Transformation In the first quarter of 2026, based on a strategic review of our operations, assets and investments, management implemented the 2026 - 2027 Operating Model Transformation Program (the “Transformation Program”) to streamline decision-making, simplify organizational structures, and enhance the use of advanced technologies, including artificial intelligence, across the enterprise. The Transformation Program includes initiatives to reduce organizational layers, realign roles and responsibilities, and design workflows to support more efficient, technology-enabled operations. These actions also include the modernization of certain information technology platforms, targeted workforce reductions and role realignments. Actions to be taken under the Transformation Program were ongoing as of September 30, 2026. Cash outlays associated with this program, which primarily relate to the personnel-related costs, are expected to be paid through 2028. During the three and nine months ended September 30, 2026, we incurred Transformation Program costs of $18 and $147, respectively, primarily related to office closures and staff reductions and relocations, including severance and related costs. These charges were recognized as operating expense in the Corporate & Other segment. The ending liability balance related to the employee termination costs under the Transformation Program at September 30, 2026 was $99, which included charges of $129 and payments of $30 made during the nine months ended September 30, 2026.
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