The Company undertakes various programs to reduce expenses. These programs generally involve a reduction in staffing levels, and in certain cases, office closures. Restructuring and related charges primarily include the following costs related to these programs:

•Exit - contract termination penalties and real estate costs primarily related to accelerated amortization of right-of-use assets and related leasehold improvements at facilities to be vacated

The expenses related to these activities are included in the Condensed Consolidated Statements of Operations as restructuring and related charges and totaled $40 million and $17 million during the three months ended September 30, 2026 and 2025, respectively, and $52 million and $48 million during the nine months ended September 30, 2026 and 2025, respectively. The Company continues to identify ways to improve operating efficiency and reduce costs which may result in additional restructuring charges in the future.


Restructuring activity during the period
($ in millions)	Employee costs		Exit costs		Total liability
Restructuring liability as of December 31, 2025	$	20	$	3	$	23
Expense incurred	58		2		60
Adjustments to liability	(4)		(4)		(8)
Payments and non-cash charges	(26)		(1)		(27)
Restructuring liability as of September 30, 2026	$	48	$	—	$	48

As of September 30, 2026, the cumulative amount incurred to date for active programs related to employee severance and relocation benefits totaled $59 million.