v3.26.3
Plan of Restructuring and Related Costs
 9 Months Ended
Sep. 26, 2026
Plan of Restructuring and Related Costs [Abstract]  
Plan of Restructuring and Related Costs
Note 9 – Plan of Restructuring and Related Costs
On August 6, 2024, we committed to a restructuring plan (the “2024
Plan”) to integrate our acquisitions, right-size
operations and further increase efficiencies.
We expect to record restructuring and related charges associated with
the 2024 Plan through the end of 2027; however,
an estimate of the amount of these charges for 2026 through 2027
has not yet been determined.
During the nine months ended September 26, 2026, in connection with
the 2024 Plan, we recorded a loss of $
2
million related to the disposal of businesses in the Global Specialty Products
segment.
This amount is included in
the $
63
million of restructuring and related charges presented below.
Restructuring and related costs recorded for the three and nine months
ended September 26, 2026 and September
27, 2025 in connection with the 2024
Plan consisted of the following:
Three Months Ended September 26, 2026
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
6
$
4
$
2
$
8
$
20
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
-
1
-
1
Exit and other related costs
-
1
-
-
1
Restructuring and related costs
$
6
$
5
$
3
$
8
$
22
Three Months Ended September 27, 2025
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
13
$
4
$
1
$
9
$
27
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
4
(1)
-
3
Exit and other related costs
1
3
-
-
4
Restructuring and related costs
$
14
$
11
$
-
$
9
$
34
Nine Months Ended September 26, 2026
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
22
$
11
$
7
$
14
$
54
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
-
2
1
-
3
Exit and other related costs
2
2
-
-
4
Loss on disposal of a business
-
2
-
-
2
Restructuring and related costs
$
24
$
17
$
8
$
14
$
63
Nine Months Ended September 27, 2025
Global Distribution
and Value-Added
Services
Global
Specialty
Products
Global
Technology
Corporate
Total
Severance and employee-related costs
$
34
$
14
$
2
$
17
$
67
Impairment and accelerated depreciation and amortization
of right-of-use lease assets and other long-lived assets
1
6
(1)
-
6
Exit and other related costs
4
3
1
-
8
Loss on disposal of a business
1
-
-
-
1
Restructuring and related costs
$
40
$
23
$
2
$
17
$
82
The following table summarizes the activity related to the liabilities associated
with our restructuring initiatives
for
the nine months ended September 26, 2026.
The remaining accrued balance of restructuring and related costs
as of
September 26, 2026, which primarily relates to severance and employee-related
costs, is included in accrued
expenses: other within our condensed consolidated balance sheets.
Liabilities related to exited leased facilities are
recorded within our current and non-current operating lease liabilities within
our condensed consolidated balance
sheets.
Total
Balance, December 27, 2025
$
49
Restructuring and related costs
63
Non-cash impairment, accelerated depreciation and amortization
(3)
Non-cash impairment related to disposal of a business
(2)
Cash payments and other adjustments
(62)
Balance, September 26, 2026
$
45