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(3) The percentages shown in the restructuring line have been calculated based on charges associated with the Company's restructuring initiatives. Stock-based compensation expense excludes stock-based compensation expense related to the Company's restructuring initiatives, which is included in the restructuring line.
Read in the filing ↗ Also in 8-K of Dec 3, 2024, 8-K of Feb 26, 2025, 8-K of May 28, 2025, 8-K of Sep 3, 2025, 8-K of Dec 3, 2025, 8-K of Nov 29, 2023, 8-K of Feb 28, 2024, 8-K of May 29, 2024
(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.
Read in the filing ↗ Also in 8-K of May 27, 2026, 8-K of Aug 26, 2026
• Restructuring: Restructuring charges are costs associated with a formal restructuring plan and may include employee notice period costs and severance payments, lease or contract termination costs, asset impairments, accelerated depreciation and amortization, and other related expenses. The Company excludes these restructuring charges because they are distinct from ongoing operational costs and it does not believe they are reflective of current and expected future business performance and operating results.
Read in the filing ↗ Also in 8-K of Feb 28, 2024, 8-K of May 29, 2024, 8-K of Aug 28, 2024, 8-K of Dec 3, 2024, 8-K of Feb 26, 2025, 8-K of May 28, 2025, 8-K of Sep 3, 2025, 8-K of Dec 3, 2025, 8-K of Feb 25, 2026, 8-K of May 27, 2026, 8-K of Aug 26, 2026
(3) Operating Cash Flow Growth guidance includes an estimated 14% - 16% headwind from charges associated with our restructuring plan announced on January 4, 2023 (the "Restructuring Plan").
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(3) In January 2023, the Company announced a restructuring plan (the "Restructuring Plan”) intended to reduce operating costs, improve operating margins, and continue advancing the Company's ongoing commitment to profitable growth. The Restructuring Plan includes a reduction of the Company's workforce and select real estate exits and office space reductions within certain markets.
Read in the filing ↗ Also in 8-K of Feb 28, 2024
Restructuring consists of charges related to employee transition, severance payments, employee benefits and stock-based compensation as well as exit charges associated with office space reductions. Restructuring excludes allocated overhead.
Read in the filing ↗ Also in 10-Q of Sep 4, 2025, 10-Q of Dec 4, 2025, 10-Q of May 28, 2026, 10-Q of Aug 27, 2026, 10-K of Mar 2, 2026
in Ukraine and the Israel-Hamas war; uncertainties regarding the impact of expensing stock options and other equity awards; the sufficiency of our capital resources; our ability to execute our share repurchase program; our ability to comply with our debt covenants and lease obligations; the impact of climate change, natural disasters and actual or threatened public health emergencies; expected benefits of and timing of completion of the restructuring plan and the expected costs and charges of the restructuring plan, including, among other things, the risk that the restructuring costs and charges may be greater than we anticipate, our restructuring efforts may adversely affect our internal programs and ability to recruit and retain skilled and motivated personnel, our restructuring efforts may be distracting to employees and management, our restructuring efforts may negatively impact our business operations and reputation with or ability to serve customers, and our restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated; and our ability to achieve our aspirations, goals and projections related to our environmental, social and governance (“ESG”) initiatives, including our ability to comply with evolving legal standards and federal and state regulations concerning ESG matters.
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(3) Stock-based compensation expense included in the GAAP to non-GAAP reconciliation tables above for the nine months ended October 31, 2023 excludes stock-based compensation expense related to the Restructuring Plan of $16 million, which is included in the Restructuring line.
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In fiscal 2025, approximately $461 million of costs were incurred related to our restructuring initiatives, which was primarily related to employee transitions, severance payments and employee benefits. We do not expect to incur significant additional charges in connection with our restructuring initiatives in the near term.
Read in the filing ↗ Also in 10-K of Mar 2, 2026
(3) Stock-based compensation expense included in the GAAP to non-GAAP reconciliation tables above excludes stock-based compensation expense related to restructuring activities for the three months ended April 30, 2024 and 2023 of $0 and $16 million, respectively, which are included in the restructuring line.
Read in the filing ↗ Also in 8-K of May 28, 2025, 8-K of May 27, 2026, 8-K of Aug 28, 2024, 8-K of Dec 3, 2024, 8-K of Feb 25, 2026, 8-K of Feb 28, 2024, 8-K of Feb 26, 2025, 8-K of Sep 3, 2025, 8-K of Dec 3, 2025, 8-K of Aug 26, 2026
In the three months ended April 30, 2026, approximately $80 million of costs were incurred related to our restructuring initiatives, which was primarily related to employee transitions, severance payments and employee benefits. We do not expect to incur significant additional charges in connection with our restructuring initiatives in the near term.
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(3) The estimated impact to GAAP diluted EPS is in connection with the Restructuring Plan.
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(2) Stock-based compensation expense, excluding stock-based compensation expense related to restructuring, was as follows:
Read in the filing ↗ Also in 8-K of Feb 28, 2024, 8-K of May 29, 2024, 8-K of Aug 28, 2024, 8-K of Dec 3, 2024, 8-K of Feb 26, 2025, 8-K of May 28, 2025, 8-K of Sep 3, 2025, 8-K of Dec 3, 2025, 8-K of Feb 25, 2026, 8-K of May 27, 2026, 8-K of Aug 26, 2026
Total operating lease costs were $ 149 million and $ 193 million for the three months ended July 31, 2025 and 2024, respectively, and were $ 296 million and $ 351 million for the six months ended July 31, 2025 and 2024, respectively. Included in operating lease costs are amounts related to restructuring charges, which are discussed in Note 9 “Restructuring.”
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Total operating lease costs were $ 163 million and $ 162 million for the three months ended October 31, 2025 and 2024, respectively, and were $ 459 million and $ 513 million for the nine months ended October 31, 2025 and 2024, respectively. Included in operating lease costs are amounts related to restructuring charges, which are discussed in Note 9 “Restructuring.”
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In the three and six months ended July 31, 2026, we incurred approximately $94 million and $174 million, respectively, of costs related to our restructuring initiatives, which were primarily related to employee transitions, severance payments and employee benefits. We do not expect to incur significant additional charges in connection with our restructuring initiatives in the near term.
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(3) The estimated impact to GAAP diluted EPS is in connection with the Company's restructuring activities.
Read in the filing ↗ Also in 8-K of May 29, 2024
(3) The estimated impact to GAAP diluted EPS is in connection with the Company's restructuring initiatives.
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We have undertaken various restructuring initiatives intended to improve operating margins and continue advancing our ongoing commitment to profitable growth, which have included a workforce reduction, select data center exits, and office space reductions within certain markets. These restructuring actions, or any similar actions taken in the future, could negatively impact our ability to attract, integrate, retain and motivate key employees.
Read in the filing ↗ Also in 10-Q of May 28, 2026, 10-Q of Aug 27, 2026
(3) The estimated impact to GAAP diluted net income per share is in connection with the Company's restructuring initiatives.
Read in the filing ↗ Also in 8-K of Feb 26, 2025, 8-K of May 28, 2025, 8-K of Sep 3, 2025, 8-K of Dec 3, 2025, 8-K of Feb 25, 2026, 8-K of May 27, 2026, 8-K of Aug 26, 2026
The following tables summarize the activities related to the Company’s restructuring initiatives for fiscal 2025 and 2024 (in millions):
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• our ability to execute and realize benefits from restructuring actions and other workforce reductions, or any similar actions taken in the future;
Read in the filing ↗ Also in 10-Q of Sep 4, 2025, 10-Q of Dec 4, 2025
Fiscal 2024 GAAP operating margin was 14.4%. Fiscal 2024 non-GAAP operating margin was 30.5%. Restructuring negatively impacted fiscal 2024 GAAP operating margin by (280) bps.
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… 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. 2. Full Year FY27 Free …
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Operating Margin: Third quarter GAAP operating margin was 17.2%. Third quarter non-GAAP operating margin was 31.2%. Restructuring negatively impacted third quarter GAAP operating margin by (60) bps.
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Operating Margin: Fourth quarter GAAP operating margin was 17.5%. Fourth quarter non-GAAP operating margin was 31.4%. Restructuring negatively impacted fourth quarter GAAP operating margin by (190) bps.
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Three Months Ended April 30, 2024 2023 Cost of revenues 1 % 1 % Research and development 3 3 Sales and marketing 3 3 General and administrative 1 1 Restructuring 0 0
Read in the filing ↗ Also in 8-K of May 28, 2025, 8-K of May 27, 2026
Total operating lease costs were $ 146 million and $ 147 million for the three months ended April 30, 2026 and 2025, respectively. Included in operating lease costs are amounts related to restructuring charges.
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Full Year FY25 Guidance GAAP operating margin(1) ~20.4% Plus Amortization of purchased intangibles(2) 4.4% Stock-based compensation expense(2)(3) 7.7% Restructuring(2)(3) —% Non-GAAP operating margin(1) ~32.5%
Read in the filing ↗ Also in 8-K of Nov 29, 2023, 8-K of May 29, 2024, 8-K of Aug 28, 2024, 8-K of Dec 3, 2024
• uncertainties regarding impacts to our workforce and workplace culture, such as those arising from our current and future office environments or remote work policies or our ability to realize the expected benefits of the restructuring plan.
Read in the filing ↗ Also in 8-K of Aug 28, 2024, 8-K of Dec 3, 2024, 8-K of Feb 26, 2025