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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 related to other restructuring expenses, and $ 3 million related 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. During fiscal year 2023, the Company recorded $ 17 million in restructuring and related expenses classified within Other Restructuring Plans of which $ 3 million related to employee related expenses, $ 5 million to fixed asset related expenses, $ 5 million to other restructuring expenses, and $ 4 million to restructuring related expenses.
Read in the filing ↗ Also in 10-K of Aug 14, 2026
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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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 information on its restructuring activities.
Read in the filing ↗ Also in 10-Q of May 1, 2025, 10-Q of Nov 6, 2025, 10-Q of Feb 4, 2026, 10-Q of May 7, 2026, 10-K of Aug 14, 2026, 10-Q of Nov 5, 2026
(4) Restructuring and related expenses, net, primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6 - "Restructuring" for further information.
Read in the filing ↗ Also in 10-Q of May 1, 2025
Restructuring and related expenses, net, were $ 45 million and $ 6 million during the three months ended September 30, 2025, and 2024. 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, 2025, were primarily comprised of restructuring activities related to the Berry Plan (as defined below). In the three months ended September 30, 2024, the Company's restructuring activities primarily related to the 2023 Restructuring Plan (as described in footnote 2 in the Consolidated Restructuring Plans table below).
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
Restructuring and related expenses, net were $ 64 million, $ 97 million, and $ 111 million, for the fiscal years ended June 30, 2025, 2024, and 2023, respectively. The net expenses related to restructuring activities have been presented on the consolidated statements of income as part of restructuring, transaction and integration expenses, net. The Company's restructuring activities for the fiscal years ended June 30, 2025, 2024, and 2023 were primarily comprised of restructuring activities related to the 2023 Restructuring Plan (as defined below).
Read in the filing ↗ Also in 10-K of Aug 14, 2026
Refer to Note 6, "Restructuring" for information on restructuring and related expenses, net.
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Restructuring and related expenses, net, were $ 90 million and $ 23 million during the three months ended December 31, 2025, and 2024, respectively, and $ 135 million and $ 29 million during the six months ended December 31, 2025, and 2024, 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 and six months ended December 31, 2025, were primarily comprised of restructuring activities related to the Berry Plan (as defined below). In the six months ended December 31, 2024, the Company's 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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Restructuring and related expenses, net, were $ 47 million and $ 6 million during the three months ended March 31, 2026, and 2025, respectively, and $ 182 million and $ 35 million during the nine months ended March 31, 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 and nine months ended March 31, 2026, were primarily comprised of restructuring activities related to the Berry Plan (as defined below). In the nine months ended March 31, 2025, the Company's restructuring activities primarily related to the 2023 Restructuring Plan (as described in footnote 2 in the Consolidated Restructuring Plans table below).
Read in the filing ↗ Also in 10-Q of May 1, 2025
Refer to Note 6, "Restructuring," for information on restructuring, integration and related expenses, net.
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Refer to Note 5, "Restructuring" for information on restructuring, integration and other related expenses, net.
Read in the filing ↗ Also in 10-Q of Feb 4, 2026, 10-Q of May 7, 2026, 10-Q of Nov 5, 2026
(5) For the three months ended September 30, 2025, Restructuring, integration and related expenses, net, primarily includes costs incurred in connection with the Berry Plan. For the three months ended September 30, 2024, Restructuring, integration and related expenses, net includes expenses relating to 2023 Restructuring Plan. Refer to Note 5 - "Restructuring" for further information.
Read in the filing ↗ Also in 10-Q of Nov 6, 2025
(5) Restructuring and other related activities, net in fiscal year 2025 primarily includes costs incurred in connection with the 2023 Restructuring Plan and Berry Plan. Fiscal year 2024 primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring," for further information. Fiscal year 2023 includes a pre-tax net gain on the sale of the Company's Russian business of $215 million, incremental costs of $18 million, and restructuring and related expenses of $107 million incurred in connection with the conflict. Refer to Note 6, "Restructuring," for further information.
Read in the filing ↗ Also in 10-K of Aug 15, 2025
Refer to Note 6, "Restructuring," for information on restructuring and other related expenses, net. Other asset impairment expenses in the last three fiscal years were not material and were primarily reported in restructuring and related expenses, net.
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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 6, 2025, 10-Q of Feb 4, 2026, 10-Q of May 7, 2026, 10-K of Aug 14, 2026, 10-Q of Nov 5, 2026
The table above includes liabilities arising from the 2023 Restructuring Plan and Other Restructuring Plans. The majority of the accruals related to restructuring activities have been recorded on the unaudited condensed consolidated balance sheets under other current liabilities.
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The table above includes liabilities arising from the 2023 Restructuring Plan, Berry Plan and Other Restructuring Plans. The majority of the accruals related to restructuring activities have been recorded on the consolidated balance sheets under other current liabilities.
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(5) For the three and six months ended December 31, 2025, Restructuring, integration and related expenses, net, primarily includes costs incurred in connection with the Berry Plan. For the three and six months ended December 31, 2024, Restructuring, integration and related expenses, net includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 5 - "Restructuring" for further information.
Read in the filing ↗ Also in 10-Q of Feb 4, 2026
(5) For the three and nine months ended March 31, 2026, Restructuring, integration and related expenses, net, primarily includes costs incurred in connection with the Berry Plan. For the three and nine months ended March 31, 2025, Restructuring, integration and related expenses, net includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring" for further information.
Read in the filing ↗ Also in 10-Q of May 7, 2026
(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.
Read in the filing ↗ Also in 10-K of Aug 14, 2026
(5) For the three months ended September 30, 2026, the Restructuring, integration and related expenses, net, includes costs incurred in connection with the Berry Plan and Other Restructuring Plans. For the three months ended September 30, 2025, Restructuring, integration and related expenses, net primarily included costs incurred in connection with the Berry Plan. Refer to Note 5, "Restructuring" for further information.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
The Company has entered into other individually immaterial restructuring plans ("Other Restructuring Plans") that are not associated with the Company's major restructuring initiatives. Expenses incurred on such programs primarily consist of employee related expenses, costs to move equipment and other costs.
Read in the filing ↗ Also in 10-Q of May 1, 2025, 10-Q of Nov 6, 2025, 10-Q of Feb 4, 2026, 10-Q of May 7, 2026, 10-K of Aug 14, 2026
The total costs incurred from the beginning of the Company's 2023 Restructuring Plan and Other Restructuring Plans are as follows:
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The total expenses incurred from the beginning of the Company's Berry Plan, 2023 Restructuring Plan, and Other Restructuring Plans are as follows:
Read in the filing ↗ Also in 10-K of Aug 14, 2026
For further information, refer to Note 5, "Restructuring, Transaction, and Integration Expenses, Net," and Note 6, "Restructuring" of "Part II, Item 8, Notes to Consolidated Financial Statements."
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Restructuring Costs: Restructuring costs are recognized when the liability is incurred. The Company calculates severance obligations based on its standard customary practices. Accordingly, the Company records provisions for severance when payments are probable and estimable and when the Company has committed to the restructuring plan. In the absence of a standard customary practice or established local practice, liabilities for severance are recognized when incurred. If fixed assets become impaired as a result of the Company’s restructuring efforts, these assets are written down to their fair value less costs to sell, as the Company commits to dispose of them, and they are no longer in use. Depreciation is accelerated on fixed assets for the period of time the asset continues to be used until the asset ceases to be used. Other restructuring costs, including costs to relocate equipment, are generally recorded as the cost is incurred or the service is provided. See Note 6, "Restructuring," for more information on the Company’s restructuring plans.
Read in the filing ↗ Also in 10-K of Aug 14, 2026
The table above includes liabilities arising from the above restructuring plans. The majority of the liabilities related to restructuring activities have been recorded on the consolidated balance sheets under other current liabilities.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
In the three months ended September 30, 2026, the Company incurred $ 5 million in employee related expenses, $ 22 million in fixed asset related expenses, $ 5 million in other restructuring, and $ 4 million in restructuring related expenses, with $ 25 million incurred in the Global Flexible Packaging Solutions reportable segment, $ 10 million incurred in the Global Rigid Packaging Solutions reportable segment, and $ 1 million incurred in Corporate. Net cash outflows for restructuring and related expenses for the three months ended September 30, 2026, were approximately $ 23 million. Net cash expenditures of approximately $ 35 million to $ 45 million are expected for the balance of the Transition Period for restructuring and general integration activities, with $ 30 million to $ 40 million representing payments for restructuring and related expenses.
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In the three months ended March 31, 2026, the Company incurred $ 6 million in employee related expenses, $ 16 million in fixed asset related expenses, $ 8 million in other restructuring, and $ 12 million in restructuring related expenses, with $ 11 million incurred in the Global Flexible Packaging Solutions reportable segment and $ 23 million incurred in the Global Rigid Packaging Solutions reportable segment, and $ 8 million incurred in Corporate. Net cash outflows for restructuring and related expenses for the three months ended March 31, 2026, were approximately $ 44 million. Net cash expenditures of approximately $ 45 million to $ 55 million are expected for the balance of the fiscal year for restructuring and general integration activities, with $ 40 million to $ 50 million representing payments for restructuring and related expenses.
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The Company incurred $104 million in employee related expenses, $26 million in other restructuring activities, $45 million in restructuring related expenses, and $19 million on fixed asset related items (net of gains on asset disposals), with
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In connection with the Merger with Berry, the Company initiated restructuring and integration activities in the fourth quarter of fiscal year 2025 ("Berry Plan") aimed at integrating the combined organization. The total Berry Plan pre-tax cash cost is estimated at $ 280 million, including restructuring activities and general integration expenses. As of June 30, 2026, the Company has initiated restructuring projects with an expected net cost of approximately $ 280 million, of which $ 126 million relates to employee related expenses, $ 46 million to fixed asset related expenses (net of expected gains on asset disposals), $ 47 to other restructuring expenses, and $ 61 million to restructuring related expenses. In addition, the Company expects to spend approximately $ 100 million on general integration costs. The Company estimates that restructuring and general integration activities initiated to date will result in net cash expenditures of approximately $ 245 million. The Berry Plan relates to both reportable segments and Corporate, and is expected to be completed by June 30, 2028.
Read in the filing ↗ Also in 10-Q of Nov 6, 2025, 10-Q of Feb 4, 2026, 10-Q of May 7, 2026, 10-Q of Nov 6, 2025, 10-Q of Feb 4, 2026, 10-Q of May 7, 2026
(1) Includes restructuring and related expenses of $ 45 million and integration costs of $ 8 million for the three months ended September 30, 2025. The three months ended September 30, 2024, includes restructuring and related expenses of $ 6 million.
Read in the filing ↗ Also in 10-Q of Nov 5, 2026
In the three months ended September 30, 2025, the Company incurred $ 48 million in employee related expenses, $ 3 million in other restructuring, and $ 2 million in restructuring related expenses, partially offset by a net gain of $ 13 million on fixed asset related items, with $ 9 million incurred in the Global Flexible Packaging Solutions reportable segment and $ 28 million incurred in the Global Rigid Packaging Solutions reportable segment, and $ 3 million incurred in Corporate. Net cash outflows for restructuring and related expenses for the three months ended September 30, 2025, were approximately $ 1 million. Net cash expenditures of approximately $ 100 million to $ 120 million are expected for the balance of the fiscal year for restructuring and general integration activities, with $ 80 million to $ 90 million representing payments for restructuring and related expenses.
Read in the filing ↗ Also in 10-Q of Nov 6, 2025, 10-Q of Nov 5, 2026
Free cash outflow was $93 million after funding approximately $262 million of net transaction, restructuring and integration costs. Prior to funding of transaction, restructuring and integration related cash costs, cash flow increased by approximately $186 million compared with last year.
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In connection with the Merger, the Company initiated restructuring and integration activities in the fourth quarter of fiscal year 2025 ("Berry Plan") aimed at integrating the combined organization. The total Berry Plan pre-tax net cash cost is estimated at $ 280 million, including restructuring activities and general integration expenses. As of September 30, 2026, the Company has initiated restructuring projects with an expected net cost of approximately $ 280 million, including both cash and non-cash costs, of which $ 127 million relates to employee related expenses, $ 40 million to fixed asset related expenses (net of expected gains on asset disposals), $ 48 million to other restructuring expenses, and $ 65 million to restructuring related expenses. In addition, the Company expects to spend approximately $ 100 million on general integration expenses. The Company estimates that restructuring and general integration activities initiated to date will result in net cash expenditures of approximately $ 260 million. The Berry Plan relates to both reportable segments and Corporate and is expected to be completed by June 30, 2028.
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• material restructuring programs, including associated costs such as employee severance, pension and related benefits, impairment of property and equipment and other assets, accelerated depreciation, termination payments for contracts and leases, contractual obligations, and any other qualifying costs related to restructuring plans;
Read in the filing ↗ Also in 8-K of Feb 6, 2024, 8-K of Apr 30, 2024
In the three months ended December 31, 2025, the Company incurred $ 48 million in employee related expenses, $ 7 million in fixed asset related expenses, $ 5 million in other restructuring, and $ 24 million in restructuring related expenses, with $ 60 million incurred in the Global Flexible Packaging Solutions reportable segment and $ 19 million incurred in the Global Rigid Packaging Solutions reportable segment, and $ 5 million incurred in Corporate. Restructuring related expenses in the three months ended December 31, 2025, include inventory discrepancies of $ 15 million, including errors from prior periods, tied to manufacturing inefficiencies and other management issues which supported the decision to close three facilities in Asia and other costs, including start-up costs after relocation of equipment. Net cash outflows for restructuring and related expenses for the three months ended December 31, 2025, were approximately $ 32 million. Net cash expenditures of approximately $ 150 million to $ 160 million are expected for the balance of the fiscal year for restructuring and general integration activities, with $ 120 million to $ 130 million representing payments for restructuring and related expenses.
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In the nine months ended March 31, 2026, the Company incurred $102 million in employee related expenses, $16 million in other restructuring, $38 million in restructuring related expenses, and $10 million on fixed asset related items (net of gains on asset disposals), with $79 million incurred in the Global Flexible Packaging Solutions reportable segment, $71 million incurred in the Global Rigid Packaging Solutions reportable segment, and $16 million incurred in Corporate. The Company also incurred $48 million in integration activities in the nine months ended March 31, 2026. Net cash outflows for restructuring and related expenses for both the three months ended and nine months ended March 31, 2026, were approximately $44 million. Net cash expenditures of approximately $45 million to $55 million are expected for the balance of fiscal year 2026 for restructuring and general integration activities, with $40 million to $50 million representing payments for restructuring and related expenses.
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In the six months ended December 31, 2025, the Company incurred $96 million in employee related expenses, $8 million in other restructuring, and $26 million in restructuring related expenses, partially offset by a net gain of $6 million on fixed asset related items, with $69 million incurred in the Global Flexible Packaging Solutions reportable segment, $47 million incurred in the Global Rigid Packaging Solutions reportable segment, and $8 million incurred in Corporate. The Company also incurred $30 million in integration activities in the first half of fiscal year 2026. Net cash outflows for restructuring and related expenses for both the three months ended and six months ended December 30, 2025, were approximately $32 million. Net cash expenditures of approximately $150 million to $160 million are expected for the balance of fiscal year 2026 for restructuring and general integration activities, with $120 million to $130 million representing payments for restructuring and related expenses.
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$88 million incurred in the Global Flexible Packaging Solutions reportable segment, $90 million incurred in the Global Rigid Packaging Solutions reportable segment, and $16 million incurred in Corporate, in fiscal year 2026. The Company also incurred $51 million in integration activities in fiscal year 2026 in both the Global Flexible Packaging Solutions segment and the Global Rigid Packaging Solutions segment and Corporate. Net cash expenditures of approximately $157 million have been incurred in fiscal year 2026 for restructuring and general integration activities, with $103 million representing payments for restructuring and related expenses. For further information, refer to Note 5, "Restructuring, Transaction, and Integration Expenses, Net," and Note 6, "Restructuring" of "Part II, Item 8, Notes to Consolidated Financial Statements.
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(1) Includes restructuring related expenses of $ 45 million for fiscal year 2026.
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(1) Includes restructuring related expenses from the 2023 Restructuring Plan of $ 6 million, $ 15 million, $ 2 million, $ 1 million, and $ 2 million, for fiscal year 2023, fiscal year 2024, first quarter of fiscal year 2025, second quarter of fiscal year 2025, and third quarter of fiscal year 2025 respectively. In the three and nine months ended March 31, 2025, $ 1 million of the restructuring and related expenses, net, were incurred in the Rigid Packaging reportable segment and the remainder in the Flexibles reportable segment.
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As of March 31, 2025, we have initiated restructuring and related projects with an expected net cost of approximately $220 million, of which approximately $130 million is expected to result in net cash expenditures. From the initiation of the Plan until March 31, 2025, we have incurred $99 million in employee-related expenses, $34 million in fixed asset related expenses, $54 million in other restructuring, and $26 million in restructuring related expenses. The Plan has resulted in $106 million of cumulative net cash outflows to date. The Plan has been largely completed as of December 31, 2024. Management expects to realize an annualized pre-tax benefit of approximately $50 million from structural cost reduction actions taken as a result of all Russia related restructuring by the end of fiscal year 2025.
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In connection with the acquisition (the "Merger") of Berry Global Group, Inc. ("Berry"), the Company initiated restructuring and integration activities in the fourth quarter of fiscal year 2025 ("Berry Plan") aimed at integrating the combined organization. The Company continues to target realizing approximately $530 million of pre-tax synergies driven by procurement, supply chain, and general and administrative savings, $60 million in annual financial synergies and $60 million in pre-tax earnings benefits from growth synergies by June 30, 2028. The total Berry Plan pre-tax net cash cost is estimated at $280 million, net, including restructuring activities and general integration expenses. As of September 30, 2026, the Company has initiated restructuring projects with an expected net cost of approximately $280 million, including both cash and non-cash costs, of which $127 million relates to employee related expenses, $40 million to fixed asset related expenses (net of expected gains on asset disposals), $48 million to other restructuring expenses, and $65 million to restructuring related expenses. In addition, the Company expects to spend approximately $100 million on general integration costs. The restructuring and general integration activities initiated to date are expected to result in $260 million of net cash expenditures. The Berry Plan is expected to be completed by June 30, 2028.
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(1) Includes restructuring related expenses of $ 2 million for the first quarter of fiscal year 2026.
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(3) Includes restructuring related costs of $ 2 million for the first quarter of fiscal year 2026.
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Restructuring, transaction and integration expenses, net increased by $85 million for the three months ended December 31, 2025, compared to the three months ended December 31, 2024. The change was a result of an increase in restructuring, integration, and related expenses, net, of $89 million, partially offset by a decrease of transaction costs of $4 million.
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Restructuring, transaction and integration expenses, net increased by $69 million for the three months ended September 30, 2025, compared to the three months ended September 30, 2024. The change was a result of transaction costs of $22 million, incurred in connection with the Merger and an increase in restructuring, integration, and related expenses, net, of $53 million.
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(1) Includes intercompany expenses incurred with Amcor entities outside the Deed, mainly attributable to intercompany restructuring activities.
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Restructuring, transaction and integration expenses, net increased by $37 million or 116% for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The change was a result of an increase in restructuring, integration, and related expenses, net, of $51 million, partially offset by a decrease in transaction costs of $14 million.
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Restructuring, transaction and integration expenses, net decreased by $9 million, or 3%, in fiscal year 2026, compared to fiscal year 2025. The change was a result of a decrease in transaction costs of $137 million and accelerated merger-related compensation of $41 million, partially offset by an increase in restructuring, integration, and related expenses, net of $169 million.
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Restructuring, transaction and integration expenses, net as reported on the consolidated statements of income are summarized as follows:
Read in the filing ↗ Also in 10-K of Aug 14, 2026
Restructuring, transaction and integration expenses, net increased by $154 million for the six months ended December 31, 2025, compared to the six months ended December 31, 2024. The change was a result of an increase in restructuring, integration, and related expenses, net, of $136 million and an increase in transaction costs incurred in connection with the Merger of $18 million.
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Restructuring, transaction and integration expenses, net increased by $191 million for the nine months ended March 31, 2026, compared to the nine months ended March 31, 2025. The change was a result of an increase in restructuring, integration, and related expenses, net, of $186 million and an increase in transaction costs incurred in connection with the Merger of $5 million.
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Restructuring, transaction and integration expenses, as reported on the unaudited condensed consolidated statements of income are summarized as follows:
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