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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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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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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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The restructuring costs (recoveries) were incurred primarily in Corporate for the three months ended September 30, 2025. Restructuring charges and recoveries are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings (Loss).
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The restructuring costs were incurred primarily in the Industrial segment for the three months ended March 31, 2026. For the nine months ended March 31, 2026, restructuring charges were incurred primarily in the Industrial and Corporate segments. For the three months ended March 31, 2025, restructuring charges were primarily incurred in the Industrial and Datacenter & Communications segments. Restructuring charges and recoveries are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings (Loss).
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By segment, for the three and nine months ended March 31, 2025, $ 2 million and $ 29 million, respectively, of restructuring costs were incurred in the Materials segment, $ 8 million and $ 11 million, respectively, of restructuring costs were incurred in the Networking segment, and $ 1 million and $ 3 million, respectively, of restructuring costs were incurred in the Lasers segment. By segment, for the three and nine months ended March 31, 2024, $ 8 million and $ 15 million, respectively, of restructuring costs were incurred in the Materials segment, and $ 4 million and $ 4 million, respectively, of restructuring costs were incurred in the Lasers segment, partially offset by no and $ 5 million, respectively, of restructuring recoveries in the Networking segment. Restructuring charges and recoveries are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings (Loss).
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Restructuring charges and recoveries are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings (Loss).
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For the three months ended September 30, 2025 and September 30, 2024, 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 (Loss).
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By segment, in fiscal 2025, $ 28million, $ 72million and $ 7million of restructuring costs were incurred in the Datacenter & Communications, Industrial and Corporate segments, respectively. Restructuring charges and recoveries are recorded in Restructuring charges in our Consolidated Statements of Earnings (Loss).
Read in the filing ↗ Also in 8-K of Dec 16, 2025
Restructuring.In the fourth quarter of fiscal 2023, we implemented a restructuring plan (the “Restructuring Plan”) that includes site consolidations and closures as well as the relocation and requalification of certain manufacturing facilities. The following restructuring actions are intended to realign our cost structure as part of a transformation to a simpler, more streamlined, resilient and sustainable footprint and business model:
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For the three and six months ended December 31, 2025 and December 31, 2024, 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 (Loss).
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For the three and nine months ended March 31, 2026 and March 31, 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 (Loss).
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Restructuring. The Company records charges associated with approved restructuring plans to reorganize operations, to remove redundant headcount and infrastructure associated with site consolidations, facilities moves and closures, as well as the relocation and requalification of certain manufacturing facilities. Restructuring charges can include severance costs to eliminate a specific number of positions, infrastructure charges to vacate facilities and consolidate operations and contract cancellation costs. The Company records restructuring charges when they are probable and estimable. The Company evaluates restructuring charges in accordance with ASC 420, Exit or Disposal Cost Obligations, and ASC 712, Compensation-Nonretirement Post-Employment Benefits (ASC 712). See Note 12. Restructuring Plans for further information.
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By segment in fiscal 2025, $ 12 million, $ 38 million and $ 3 million of restructuring costs were incurred in the Networking, Materials and Lasers segments, respectively. By segment in fiscal 2024, $( 4 ) million, $ 28 million and $ 4 million of restructuring costs (recoveries) were incurred in the Networking, Materials and Lasers segments, respectively. Restructuring charges and recoveries are recorded in Restructuring charges in our Consolidated Statements of Earnings (Loss).
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Restructuring charges. Restructuring charges for the year ended June 30, 2025 were $160 million, or 3% of revenues. The restructuring charges consisted primarily of asset write-offs, employee termination costs, move costs, contract termination costs and accelerated depreciation due to the consolidation and closure of certain manufacturing sites as well as impairment losses associated with the sale of our Newton Aycliffe business. Restructuring charges related to our 2023 Restructuring Plan for the year ended June 30, 2024 were $27 million, or 1% of revenues, and consisted primarily of severance, accelerated depreciation, equipment write-offs and move costs due to the consolidation of certain manufacturing sites. See Note 12. Restructuring Plans for further information.
Read in the filing ↗ Also in 10-K of Aug 15, 2025, 8-K of Dec 16, 2025
Restructuring charges include severance, non-cash impairment charges (2) for production assets and improvements on leased facilities and other costs related to the 2023 Restructuring Plan.
Read in the filing ↗ Also in 8-K of Nov 6, 2023, 8-K of Nov 6, 2023, 8-K of Aug 15, 2024, 8-K of Aug 15, 2024
Restructuring charges (recoveries) include severance, non-cash (1) impairment charges for production assets and improvements on leased facilities and other costs related to the 2023 Restructuring Plan.
Read in the filing ↗ Also in 8-K of Feb 5, 2024, 8-K of Feb 5, 2024, 8-K of May 6, 2024, 8-K of May 6, 2024, 8-K of May 6, 2024, 8-K of Aug 15, 2024
Restructuring charges. Restructuring charges related to our Restructuring Plans for the three and nine months ended March 31, 2025 were $74 million and $106 million, respectively, and consist of asset write-offs, employee termination costs, move costs and accelerated depreciation due to the consolidation and closure of certain manufacturing sites as well as impairment losses associated with the sale of our Newton Aycliffe business. Restructuring charges related to our 2023 Restructuring Plan for the three and nine months ended March 31, 2024 were $12 million and $13 million, respectively, and consisted of severance, accelerated depreciation, equipment write-offs and move costs due to the consolidation of certain manufacturing sites. See Note 17. Restructuring Plans included in Item 1 of this Quarterly Report on Form 10-Q for further information.
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and benefits, lease and contract termination costs, asset write-offs, facilities move and other restructuring costs. We evaluate restructuring charges in accordance with ASC 420 and ASC 712.
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Restructuring charges include non-cash impairment charges for (3) production assets and improvements on leased facilities, severance, contract termination costs and other costs related to the restructuring plans.
Read in the filing ↗ Also in 8-K of Aug 13, 2025, 8-K of Nov 5, 2025, 8-K of Feb 4, 2026, 8-K of May 6, 2026, 8-K of Aug 12, 2026
The Company records charges associated with approved restructuring plans to reorganize operations, to remove redundant headcount and infrastructure associated with site consolidations, facilities moves and closures, as well as the relocation and requalification of certain manufacturing facilities. Restructuring charges can include severance costs to eliminate a specific number of positions, infrastructure charges to vacate facilities and consolidate operations and contract cancellation costs. The Company records restructuring charges when they are probable and estimable. The Company evaluates restructuring charges in accordance with ASC 420, Exit or Disposal Cost Obligations, and ASC 712, Compensation-Nonretirement Post-Employment Benefits (ASC 712). See Note 20. Restructuring Plans for further information.
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By segment, in fiscal 2025, $ 65 million of restructuring costs were incurred in the Materials segment, $ 23 million were incurred in the Networking segment, $ 12 million were incurred in the Lasers segment, and $ 7 million were incurred in the Corporate segment. Restructuring charges and recoveries are recorded in Restructuring charges in our Consolidated Statements of Earnings (Loss).
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Restructuring.In the fourth quarter of fiscal 2023, we implemented a Restructuring Plan that includes site consolidations and closures as well as the relocation and requalification of certain manufacturing facilities. The following restructuring actions are intended to realign our cost structure as part of a transformation to a simpler, more streamlined, resilient, and sustainable footprint and business model:
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Restructuring charges include loss on sale of a facility, severance, (4) non-cash impairment charges for production assets and improvements on leased facilities and other costs related to the Restructuring Plans.
Read in the filing ↗ Also in 8-K of Nov 6, 2024, 8-K of Nov 6, 2024, 8-K of Feb 5, 2025
Restructuring charges. Restructuring charges for the three months ended September 30, 2026 and 2025 were $9 million and $19 million, respectively, consisting primarily of employee termination costs and move costs due to the consolidation and closure of certain manufacturing sites. See Note 10. Restructuring Plans included in Item 1 of this Quarterly Report on Form 10-Q for further information.
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For the three months ended September 30, 2026, restructuring charges were incurred primarily in the Industrial segment and Corporate. For the three months ended September 30, 2025, restructuring charges were primarily incurred in Corporate.
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By segment, for the three months ended March 31, 2025, $ 32 million of restructuring costs were incurred in the Materials segment, $ 17 million were incurred in the Networking segment, $ 12 million were incurred in the Lasers segment, and $ 2 million were incurred in the Corporate segment. Restructuring charges and recoveries are recorded in Restructuring charges in our Condensed Consolidated Statements of Earnings (Loss).
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Restructuring charges. Restructuring charges for the three months ended September 30, 2025 were $19 million and consisted primarily of employee termination costs and move costs due to the consolidation and closure of certain manufacturing sites. Restructuring charges for the three months ended September 30, 2024 were $24 million and consisted of impairment losses associated with the sale of our Newton Aycliffe business, accelerated depreciation, and move costs due to the consolidation of certain manufacturing sites. See Note 17. Restructuring Plans included in Item 1 of this Quarterly Report on Form 10-Q for further information.
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the expected results from such restructuring plans and other cost reduction initiatives for any reason also could lead to the implementation of additional restructuring-related activities in the future, which may exacerbate these risks or introduce n
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The restructuring costs were incurred primarily in the Industrial segment for the three months ended December 31, 2025. In the six months ended December 31, 2025, restructuring charges were incurred primarily in the Industrial and Corporate segments.
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Commencing in the quarter ended March 31, 2025, and as part of the Company’s ongoing strategic review of its business, management approved the 2025 Plan. In connection therewith, the Company has incurred restructuring charges, including employee severance and benefits, lease and contract termination costs, asset write-offs, facilities relocation costs and other restructuring-related expenses. We account for restructuring charges in accordance with ASC 420 and ASC 712.
Read in the filing ↗ Also in 10-Q of Nov 4, 2026
Restructuring Charges. We expect restructuring charges to be in the $25 – 35 million range for full fiscal year 2024 mainly comprised of employment termination, facility move costs, and accelerated. We expect restructuring charges to be in the $35 – 45 million range for full fiscal year 2025, consisting ◾ primarily of employment termination, facility move costs, and accelerated depreciation, and savings associated with the Plan to be $110 – 140 million for full fiscal year 2025. In fiscal 2023, restructuring charges were $119 million, primarily for workforce reduction and the write-off of property and equipment, net of $65 million from reimbursement arrangements.
Read in the filing ↗ Also in 8-K of Nov 6, 2023, 8-K of Feb 5, 2024
Restructuring charges. Restructuring charges for the three and six months ended December 31, 2025 were $4 million and $23 million, respectively, and consisted primarily of employee termination costs and move and other costs due to the consolidation and closure of certain manufacturing sites. Restructuring charges for the three and six months ended December 31, 2024 were $8 million and $32 million, respectively, and consisted of impairment losses associated with the sale of our Newton Aycliffe business as well as move costs, accelerated depreciation, and employee termination costs due to the consolidation of certain manufacturing sites. See Note 17. Restructuring Plans for further information.
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Restructuring charges. Restructuring charges for the three and nine months ended March 31, 2026 were $34 million and $57 million, respectively, and consisted primarily of employee termination costs, asset write-offs and move and other costs due to the consolidation and closure of certain manufacturing sites. Restructuring charges for the three and nine months ended March 31, 2025 were $74 million and $106 million, respectively, and consisted of asset write-offs, employee termination costs, move costs and accelerated depreciation due to the consolidation of certain manufacturing sites as well as impairment losses associated with the sale of our Newton Aycliffe business. See Note 10. Restructuring Plans for further information.
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For the three months ended September 30, 2026, these activities resulted in net restructuring charges of $ 4 million primarily related to employee termination and site closure costs. For the three months ended September 30, 2025, these activities resulted in restructuring charges of $ 13 million primarily related to employee termination and site closure costs. Actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material.
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Restructuring Charges. Restructuring charges related to our 2023 Plan for the year ended June 30, 2024 were $27 million, or 1% of revenues, and consist primarily of accelerated depreciation, equipment write-offs and move costs due to the consolidation of certain manufacturing sites. Restructuring charges related to our 2023 Plan for the year ended June 30, 2023 were $119 million, or 2% of revenues, and consisted of severance and equipment write-offs, net of reimbursements, due to the consolidation of certain manufacturing sites. See Note 20. Restructuring Plans to the Company’s Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K for further information.
Read in the filing ↗ Also in 8-K of Dec 16, 2025
• Restructuring, synergies, and consolidation expenses of approximately $45 – 55 million.
Read in the filing ↗ Also in 8-K of Nov 6, 2023, 8-K of Feb 5, 2024, 8-K of Feb 5, 2024, 8-K of May 6, 2024, 8-K of May 6, 2024
If we experience any of these adverse consequences, the Restructuring Plans and other cost reduction initiatives that we may undertake may not achieve or sustain the intended benefits. Our failure to achieve the expected results from the Restructuring Plans and other cost reduction initiatives for any reason also could lead to the implementation of additional restructuring-related activities in the future, which may exacerbate these risks or introduce new risks which could adversely affect our business, results of operations and financial condition.
Read in the filing ↗ Also in 10-K of Aug 14, 2026
facilities. These restructuring actions were intended to realign our cost structure as part of a transformation to a simpler, more streamlined, resilient and sustainable business model. We evaluate restructuring charges in accordance with ASC 420, Exit or Disposal Cost Obligations (ASC 420), and ASC 712, Compensation-Nonretirement Post-Employment Benefits (ASC 712).
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In the three months ended September 30, 2025, these activities resulted in $13 million of charges primarily related to employee termination and site closure costs. In fiscal 2025, these activities resulted in $107 million of charges primarily for the write-off of property and equipment and ROU assets, employee and contract termination costs. We expect the restructuring actions to be substantially completed by the end of fiscal 2026. However, the actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material. See Note 17. Restructuring Plans for further information.
Read in the filing ↗ Also in 10-Q of Nov 5, 2025
Restructuring charges. Restructuring charges for the year ended June 30, 2026 were $63 million, compared to $160 million for the prior fiscal year. Charges in fiscal 2026 consisted primarily of employee termination costs, asset write-offs and move and other costs related to the consolidation and closure of certain manufacturing sites. Charges in fiscal 2025 consisted primarily of asset write-offs, employee termination costs, move costs, contract termination costs and accelerated depreciation due to the consolidation and closure of certain manufacturing sites, and impairment losses associated with the sale of our Newton Aycliffe business. See Note 12. Restructuring Plans for further information.
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On May 23, 2023, the Board of Directors approved the Company’s May 2023 Restructuring Plan (“2023 Plan”) which includes site consolidations, facilities moves and closures, as well as the relocation and requalification of certain manufacturing facilities. These restructuring actions were intended to realign our cost structure as part of a transformation to a simpler, more streamlined, resilient and sustainable business model.
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Commencing in the quarter ended March 31, 2025, and as part of the ongoing strategic review of the Company’s business, the Company’s management approved the 2025 Plan (and together with the 2023 Plan, the Restructuring Plans) to take a number of restructuring actions, including site consolidations, facilities moves and closures, workforce reductions, contract terminations, and certain other associated cost reductions.
Read in the filing ↗ Also in 10-Q of May 7, 2025, 10-Q of May 7, 2025, 10-Q of Feb 4, 2026, 10-K of Aug 14, 2026, 10-Q of Feb 4, 2026, 10-Q of May 6, 2026, 10-K of Aug 14, 2026, 10-K of Aug 15, 2025, 10-Q of Nov 5, 2025, 8-K of Dec 16, 2025
In the three and six months ended December 31, 2025, these activities resulted in $15 million and $28 million, respectively, of charges primarily related to employee termination and site closure costs. In fiscal 2025, these activities resulted in $107 million of charges primarily for the write-off of property and equipment and ROU assets, employee and contract termination costs. We expect the restructuring actions to be substantially completed by the end of fiscal 2026. However, the actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material. See Note 17. Restructuring Plans for further information.
Read in the filing ↗ Also in 10-Q of Feb 4, 2026
In fiscal 2025, these activities resulted in $ 107million of charges primarily for the write-off of property and equipment and ROU assets, employee and contract termination costs. We expect the restructuring actions to be substantially completed by the end of fiscal 2026. However, the actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material.
Read in the filing ↗ Also in 10-K of Aug 15, 2025
In the three and nine months ended March 31, 2026, these activities resulted in $31 million and $59 million, respectively, of charges primarily related to write-off of property and equipment, employee termination and site closure costs. In fiscal 2025, these activities resulted in $107 million of charges primarily for the write-off of property and equipment and ROU assets, employee and contract termination costs. We expect the restructuring actions to be substantially completed by the end of fiscal 2026. However, the actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material. See Note 10. Restructuring Plans for further information.
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• Actions that we are taking to restructure our business in alignment with our strategic priorities may not be as effective as anticipated.
Read in the filing ↗ Also in 10-K of Aug 15, 2025, 10-K of Aug 14, 2026, 10-K of Aug 14, 2026
In the three months ended March 31, 2025, these activities resulted in $ 63 million of charges primarily for the write-off of property and equipment and employee termination costs. We expect the restructuring actions to be substantially completed by the end of fiscal 2026. However, the actual timing and costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material.
Read in the filing ↗ Also in 10-Q of May 7, 2025
In May 2023, we announced that our Board of Directors approved a restructuring plan (the “2023 Plan”) which includes site consolidations, facilities movements and closures, and the relocation and requalification of certain manufacturing facilities. Commencing in the quarter ended March 31, 2025, and as part of the ongoing strategic review of our business discussed during our earnings call for the first quarter of fiscal 2025, our management approved a plan to take a number of restructuring actions, including site consolidations, facilities moves and closures, workforce reductions, contract terminations and certain other associated cost reductions (the “2025 Plan,” and together with the 2023 Plan, the “Restructuring Plans”). While the Restructuring Plans and other proactive cost reduction measures that we plan to take are intended to realign our cost structure as part of a transformation to a simpler, more streamlined, resilient and sustainable business model, we may encounter challenges in the execution of these efforts that could prevent us from recognizing the intended benefits of such efforts.
Read in the filing ↗ Also in 10-K of Aug 14, 2026
termination costs, and the write-off of property and equipment, net of $65 million from reimbursement arrangements. See Note 10. Restructuring Plans for further information.
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Actions that we have taken, or may take in the future, to restructure our business in alignment with our strategic priorities may not be as effective as anticipated.
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