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◦ There were no restructuring charges in 2026 relating to either restructuring plan implemented in 2023 ("2023 Restructuring Plan") or 2024 ("2024 Restructuring Plan", collectively the "2023 and 2024 Restructuring Plans"). See note 13 to our condensed consolidated financial statements for further discussion of the 2023 and 2024 Restructuring Plans.
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During fiscal year 2026, the Company recorded $ 21 million in restructuring and related expenses classified within Other Restructuring Plans of which $ 2 million related to employee related expenses, $ 2 million to fixed asset related expenses, $ 5 million related to other restructuring expenses, and $ 12 million related to restructuring related expenses. During fiscal year 2025, the Company recorded $ 6 million in restructuring and related expenses classified within Other Restructuring Plans of which $ 2 million related to employee related expenses, $ 1 million to other restructuring expenses, and $ 3 million to restructuring related expenses. During fiscal year 2024, the Company recorded $ 10 million in restructuring and related expenses classified within Other Restructuring Plans of which $ 1 million related to employee related expenses, $ 2 million to fixed asset related expenses, $ 3 million to other restructuring expenses, and $ 4 million to restructuring related expenses.
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We have completed the 2025 restructuring plan and incurred approximately $ 40.2 million in total restructuring expenses. We do not expect to incur additional restructuring expenses in connection with the 2025 restructuring plan.
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restructuring activities primarily related to the 2023 Restructuring Plan (as described in footnote 2 in the Consolidated Restructuring Plans table below).
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4. Restructuring In February 2025 and then as further expanded in December 2025, our management approved a global restructuring program (the “2025 Restructuring Plan”) intended to reduce costs and transform the way we operate. The 2025 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $170 million by the end of 2027. The pre-tax restructuring charges consist of employee termination benefits, contract terminations for sales agents and other charges, such as consulting fees. The expenses incurred under our 2025 Restructuring Plan are reported in our “Restructuring and other cost reduction initiatives” financial statement line item. The following table summarizes the liabilities recognized related to the 2025 Restructuring Plan (in millions):
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Restructuring related expenses are directly attributable to restructuring activities; however, they do not qualify for special accounting treatment as exit or disposal activities. The Company believes the disclosure of restructuring related costs provides more complete information on its restructuring activities.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
It excludes restructuring charges. Because restructuring charges are a component of operating income under U.S. GAAP, any measure that excludes restructuring charges, has material limitations.
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(h) Represents expected restructuring charges related to the 2026 Restructuring Plan.
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(e) Represents restructuring charges recorded related to the 2026 Restructuring Plan.
Read in the filing ↗ Also in 8-K of Oct 21, 2026
(f) Represents expected restructuring charges related to the 2026 Restructuring Plan.
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(c) Represents expected restructuring charges related to the 2026 Restructuring Plan.
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Three Months Ended July 31, (Dollars in millions) 2025 2026 ────────────────────────────────────────────────────────────────────────────────────────── Restructuring charges: Severance and other employee-related costs $1 $ Other restructuring charges1 11 — Total restructuring and other charges $12 $
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For the year ended June 30, 2026 restructuring costs were not material in any segment. For the year ended June 30, 2025, restructuring costs were primarily incurred in the Datacenter & Communications segment. Restructuring charges (recoveries) are recorded in Restructuring charges in our Consolidated Statements of Earnings (Loss).
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The restructuring costs for the nine months ended September 30, 2026 were related to restructuring actions across the company, including the divestiture of certain non-U.S. entities. The restructuring costs for the nine months ended September 30, 2025 were related to restructuring actions across the company.
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Restructuring charges related to the Fiscal 2025 Restructuring Plan were as follows:
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Restructuring and restructuring-related costs by segment are as follows (in thousands):
Read in the filing ↗ Also in 10-Q of Nov 6, 2026
August 31, (in millions) 2026 2025 ────────────────────────────────────────────────────────────────────────────────────── Restructuring $ 165 $402 Other, net (71) 13 Total restructuring and other expenses $ 94 $415 Fiscal 2026 Oracle Restructuring Plan During fiscal 2026, our management approved, committed to, initiated and further supplemented plans to restructure to implement certain strategic measures and further improve operational efficiencies, including through the adoption and integration of artificial intelligence technologies across certain functions and other operational activities (2026 Restructuring Plan). The total estimated restructuring costs associated with the 2026 Restructuring Plan are up to $2.1 billion as of August 31, 2026. Subsequent to August 31, 2026, our management supplemented the 2026 Restructuring Plan by approximately $700 million to reflect additional actions that we expect to take. These costs will be recorded to the restructuring and other expense line item within our condensed consolidated statements of operations through the end of the plan. We recorded $167 million and $415 million of restructuring expenses in connection with the 2026 Restructuring Plan for the three months ended August 31, 2026 and 2025, respectively. Any changes to the estimates of executing the 2026 Restructuring Plan will be reflected in our future results of operations.
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(a) Restructuring/Other in 2026 and 2025 includes restructuring amounts unless specified otherwise. Restructuring/Other within Americas in 2026 includes $16.3 million in amortization of acquired backlog intangible asset.
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approximately $ 2.1 million of additional restructuring expense recorded in Cost of net revenues. As of September 30, 2026, we had no remaining restructuring liability related to the 2024 Restructuring.
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Impairment and restructuring charges - During the fiscal years ended June 30, 2026 and 2025, the Company recorded impairment and restructuring charges of $113 million and $132 million, including restructuring charges of $86 million and $120 million, respectively. See Note 5 - Restructuring Programs in the accompanying Consolidated Financial Statements.
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For the three months ended September 30, 2026 restructuring costs were not material in any segment. For the three months ended September 30, 2025, restructuring costs were primarily incurred in the Datacenter & Communications segment. Restructuring charges (recoveries) are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings.
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(2) Restructuring charges for the twelve months ended July 31, 2024 include $ 25 million in share-based compensation expense associated with a restructuring plan. See Note 15, “Restructuring,” for more information.
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The restructuring charges primarily reflect severance and branch closure charges associated with our restructuring programs. We incur severance costs and branch closure charges in the ordinary course of our business. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. The amounts above primarily reflect charges associated with the restructuring program that was initiated in the fourth quarter of 2025 (see note 4 to the condensed consolidated financial statements for additional detail on our restructuring programs). Since the first such program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $450.
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(6) Restructuring expenses and operating model optimization initiatives relate to the 2026 Restructuring Initiative for the fiscal three and six months ended June 28, 2026 and the 2024 Multi-Year Restructuring Initiative for the fiscal three and six months ended June 29, 2025. See Note 15, “Restructuring Expenses and Operating Model Optimization Initiatives,” for additional information. Restructuring expenses and operating model optimization initiatives include accelerated depreciation expense on assets related to the 2026 Restructuring Initiative for the fiscal three and six months ended June 28, 2026.
Read in the filing ↗ Also in 10-Q of Oct 30, 2026, 10-Q of Aug 6, 2026, 10-Q of Aug 6, 2026, 10-Q of Oct 30, 2026, 10-Q of Oct 30, 2026
Restructuring expenses and operating model optimization initiatives relate to the 2026 Restructuring Initiative for the fiscal three and six months ended June 28, 2026 and the 2024 Multi-Year Restructuring Initiative for the fiscal three and six months ended June 29, 2025. See (6) Note 15, “Restructuring Expenses and Operating Model Optimization Initiatives,” for additional information. Restructuring expenses and operating model optimization initiatives include accelerated depreciation expense on assets related to the 2026 Restructuring Initiative for the fiscal three and six months ended June 28, 2026.
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The following table summarizes our restructuring costs incurred related to the restructuring program.
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Changes to the restructuring liability for the aforementioned restructuring program were as follows:
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(6) Primarily reflects severance and branch closure charges associated with our restructuring programs. We only include such costs that are part of a restructuring program as restructuring charges. The designated restructuring programs generally involve the closure of a large number of branches over a short period of time, often in periods following a major acquisition, and result in significant costs that we would not normally incur absent a major acquisition or other triggering event that results in the initiation of a restructuring program. Since the first such restructuring program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $450 million. In the fourth quarter of 2025, we initiated a restructuring program associated with the consolidation of certain common functions and certain other cost reduction measures, and the charges above were primarily recognized under this program.
Read in the filing ↗ Also in 8-K of Oct 21, 2026, 8-K of Oct 21, 2026
Restructuring charges primarily include severance costs associated with headcount reductions, as well as branch closure charges. We incur severance costs and branch closure charges in the ordinary course of our business. We only include such costs that are part of a restructuring program as restructuring charges. Since the first such program was initiated in 2008, we have completed seven restructuring programs and have incurred total restructuring charges of $ 450.
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On January 13, 2025, our Board of Directors approved the restructuring initiative. The actions associated with the restructuring initiative were implemented in fiscal 2025 and substantially completed during fiscal 2026. We have now completed these actions and do not expect to incur any additional restructuring charges related to the restructuring initiative.
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Restructuring costs reflect expenses resulting from restructuring initiatives the Company undertakes to improve operational efficiency and align resources with its strategic objectives. Restructuring costs primarily include employee separation costs, asset write-off charges, contract termination costs, costs to vacate facilities, and other direct expenses associated with approved restructuring plans. Costs are recognized when the Company’s management approves a restructuring plan and the related amounts are both probable and estimable.
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Restructuring and related expenses, net, were $ 59 million and $ 45 million during the three months ended September 30, 2026, and 2025, respectively. The net expenses related to restructuring activities have been presented on the unaudited condensed consolidated statements of income as part of restructuring, transaction and integration expenses, net. The Company's restructuring activities for the three months ended September 30, 2026, and 2025 consisted primarily of restructuring activities related to the Berry Plan (as defined below), with the remaining activities related to Other Restructuring Plans (as defined below).
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(4) For more information regarding our restructuring efforts, refer to Note 2 titled, "Restructuring."
Read in the filing ↗ Also in 10-Q of Aug 7, 2026, 10-Q of Nov 5, 2026, 10-Q of Nov 5, 2026, 10-Q of Nov 5, 2026
Refer to Note 6, "Restructuring," for information on restructuring, integration and related expenses, net.
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For the six months ended June 30, 2025, there were $ 1 million in restructuring charges from certain restructuring activities. As of June 30, 2025, the liabilities related to these restructuring activities were immaterial.
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For the nine months ended September 30, 2025, there were $ 2 million in restructuring charges from certain restructuring activities. As of September 30, 2025, the liabilities related to these restructuring activities were immaterial.
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For the year ended June 30, 2026, restructuring charges were incurred primarily in the Industrial and Corporate segments. For the year ended June 30, 2025, restructuring charges were primarily incurred in the Industrial and Datacenter & Communications segments. Restructuring charges and recoveries are recorded in Restructuring charges in our Consolidated Statements of Earnings (Loss).
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• restructuring charges of $ 18 million and $ 79 million for the three and six months ended September 30, 2026, respectively, for restructuring initiatives as discussed in Financial Note 3, “Restructuring, Impairment, and Related Charges, Net.”
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In connection with previously announced initiatives to improve operational efficiency and align the Company's cost structure, the Company implemented restructuring plans in 2023 and 2024 ("2023 Restructuring Plan", and collectively with the 2024 Restructuring Plan, the "2023 and 2024 Restructuring Plans"). These plans primarily included reducing employee headcount and closing and consolidating certain offices, as well as the discontinuation of installation services as a towers product offering under the 2023 Restructuring Plan.
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Total cumulative charges recorded associated with restructuring and other activities for the Restructuring Program were:
Read in the filing ↗ Also in 10-Q of Nov 2, 2026
Changes in accrued restructuring charges from the Restructuring Program inception through June 30, 2026 were:
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We discuss restructuring activities in Note 15. Restructuring Activities to our condensed consolidated financial statements.
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(1) Restructuring expenses and asset impairments and other restructuring-related charges consist of the following:
Read in the filing ↗ Also in 10-Q of Oct 28, 2026
The following table summarizes the restructuring expenses incurred in connection with our Network Restructuring Initiative:
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Refer to Note 5, "Restructuring" for information on restructuring, integration and other related expenses, net.
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Restructuring expenses and operating model optimization initiatives relate to the 2024 Multi-Year Restructuring Initiative in the fiscal twelve months ended December 29, 2024 and December 28, 2025 (as (6) defined in Note 19, “Restructuring Expenses and Operating Model Optimization Initiatives”). See Note 19, “Restructuring Expenses and Operating Model Optimization Initiatives,” for additional information.
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Consistent with our historical policies for ongoing restructuring-type activities, resulting charges were funded by and included within Corporate for segment reporting. Restructuring charges above the normal ongoing level of restructuring costs are reported as non-core charges. For more details on the restructuring program, refer to Note 7 to the Consolidated Financial Statements.
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Restructuring Expenses. In May 2024, we adopted and announced a targeted restructuring plan (the "Restructuring Plan"). The Restructuring Plan includes a strategic shift in our approach to the Healthcare surgical business in Europe, as well as other actions including the impairment of an internally developed X-ray accelerator, product rationalizations and facility consolidations. Approximately 300 positions have been eliminated. These restructuring actions were designed to enhance profitability and improve efficiency, which we realized beginning in fiscal 2025 and 2026. As of March 31, 2026, the execution of our Restructuring Plan was substantially complete.
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Restructuring costs recorded to each of the operating segments presented primarily related to employee severance costs. Other restructuring costs represented employee severance costs not related to our operating segments and certain other restructuring plan costs.
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The following table summarizes the restructuring expenses incurred in connection with our UScellular Acquisition restructuring initiatives:
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Restructuring and Other Charges. The Company has undertaken or committed to various restructuring initiatives, including workforce
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Restructuring Charges and Separation Costs. We continuously evaluate our cost structure and are implementing several restructuring
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The Company recorded net pre-tax restructuring costs for new and ongoing restructuring initiatives as follows:
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(3) The percentages shown in the restructuring and acquisition-related costs line have been calculated based on charges associated with the Company's restructuring initiatives and acquisition-related costs. Stock-based compensation expense excludes stock-based compensation expense related to the Company's restructuring initiatives, which is included in the restructuring and acquisition-related costs line.
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Restructuring and other costs for the three months ended September 30, 2026 were $21.8 million, which included restructuring charges of $19.4 million and other costs of $2.4 million. Restructuring and other costs were primarily related to headcount reductions and exit costs in the Pumps & Process Solutions, Climate & Sustainability Technologies and Clean Energy & Fueling segments. For further discussion related to our restructuring and other costs, see "Restructuring and Other Costs (Benefits)," within this Item 2.
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(b) Represents restructuring charges recorded related to the Company's restructuring plan announced in February 2026, as further discussed in the Annual Report on Form 10-K for the year ended December 31, 2025 ("2026 Restructuring Plan").
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(h) Represents expected restructuring charges related to the Company's restructuring plan announced in February 2026, as further discussed in the Annual Report on Form 10-K for the year ended December 31, 2025 ("2026 Restructuring Plan").
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An analysis of the Company's restructuring plan liability, not including restructuring related liabilities, is as follows:
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
Since the inception of the 2025 Restructuring Initiative, we have incurred the following pre-tax restructuring costs:
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Refer to Note 11, "Restructuring and Transformation Costs" for more information about restructuring and UpLift transformation costs.
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Restructuring activities related to employee severance and benefit arrangements under the 2025 Restructuring Plan were as follows:
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The following tables summarize restructuring charges related to our 2025 Restructuring Program by reportable segment (in thousands):
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Activity related to the restructuring liabilities associated with our restructuring initiatives consists of the following (in thousands):
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(1) Reflected in our condensed consolidated statements of income as “Restructuring charge” (such charge also includes activity under our closed restructuring programs). The restructuring charges are not allocated to our segments. A s we first incurred costs under the 2026 Cost Savings Restructuring Program in 2026, the amounts above reflect the cumulative charges recognized through September 30, 2026.
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We previously undertook a global restructuring program that began in February 2023 and was expanded in July 2025 (the 2023 Restructuring Plan). The activities associated with the 2023 Restructuring Plan, including the expansion, were fully completed during the second quarter of 2026. We have recorded related costs of $748 million since the inception of the 2023 Restructuring Plan.
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Restructuring, severance and related charges decreased during the fiscal year ended August 31, 2026, compared to the fiscal year ended August 31, 2025, primarily due to higher restructuring, severance and related charges, related to the 2025 Restructuring Plan, during the fiscal year ended August 31, 2025. The decrease is partially offset by restructuring, severance, and related charges, related to targeted restructuring activities to optimize our cost structure and improve operational efficiencies, during the fiscal year ended August 31, 2026.
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No restructuring costs were recorded during the fiscal year ended June 28, 2026 or June 29, 2025. During the fiscal year ended June 30, 2024, net restructuring costs of $ 43.4 million and $ 18.2 million were recorded in Restructuring charges, net - cost of goods sold, and Restructuring charges, net - operating expenses, respectively in the Consolidated Statements of Operations.
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Our Network Restructuring Initiative is expected to be completed prior to the end of 2027. We are evaluating additional restructuring activities associated with the Network Restructuring Initiative, which are dependent on consultations and negotiations with certain counterparties and the expected impact on our business operations, which could affect the amount or timing of the restructuring costs and related payments.
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We have initiated restructuring plans in recent years, most recently in September 2026, to better align our resources with our business strategy. Because the restructuring charges and related benefits are derived from management’s estimates made during the formulation of the restructuring plans, based on then-currently available information, our restructuring plans may not achieve the benefits anticipated on the timetable or at the level contemplated. Additional actions, including further restructuring of our operations, may be required in the future.
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NAST personnel expenses in the third quarter of 2026 included $1.8 million of severance and related personnel expenses associated with our 2025 Restructuring Program. Other SG&A expenses also included $3.1 million of acquisition and restructuring-related expenses. NAST personnel expenses in the third quarter of 2025 included $1.2 million of severance and related personnel expenses also associated with the 2025 Restructuring Program. Refer to Note 13, Restructuring, for further discussion related to our 2025 Restructuring Program.
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(2) Excludes stock-based compensation related to restructuring, which is included in restructuring charges in the table above.
Read in the filing ↗ Also in 10-Q of Aug 5, 2026, 8-K of Oct 29, 2026, 10-Q of Oct 30, 2026
(2) Restructuring plan charges, net related to the Company's restructuring activities associated with severance and benefit costs.
Read in the filing ↗ Also in 8-K of Nov 5, 2026
(e) Represents restructuring charges recorded related to the 2026 Restructuring Plan. 25 Crown Castle Inc. Third Quarter 2026
Read in the filing ↗ Also in 8-K of Oct 21, 2026
Changes in accrued restructuring charges from the Restructuring Program for the three months ended September 30, 2026 were:
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The following table provides a rollforward for the Company’s accrued restructuring costs related to all restructuring activities:
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The restructuring charges associated with the following plans were recorded in restructuring and other on our condensed consolidated statements of income. Accrued restructuring liabilities were included in accrued expenses and other current liabilities on our condensed consolidated balance sheets.
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In May 2024, we adopted and announced a targeted restructuring plan (the "Restructuring Plan"). The Restructuring Plan includes a strategic shift in our approach to the Healthcare surgical business in Europe, as well as other actions including the impairment of an internally developed X-ray accelerator, product rationalizations and facility consolidations. Approximately 300 positions have been eliminated. These restructuring actions were designed to enhance profitability and improve efficiency. As of March 31, 2026, the execution of our Restructuring Plan was substantially complete.
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(4) Restructuring, integration and related activities, net in fiscal year 2026 primarily includes costs incurred in connection with the Berry Plan. Fiscal year 2025 primarily includes costs incurred in connection with the 2023 Restructuring Plan and the Berry Plan. Fiscal year 2024 primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring," for further information.
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