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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-K of Aug 20, 2025, 10-Q of Oct 30, 2025, 10-Q of Feb 5, 2026, 10-Q of May 1, 2026, 10-K of Aug 19, 2026, 10-Q of Nov 2, 2026
Changes in accrued restructuring charges from the Restructuring Program inception through June 30, 2025 were:
Read in the filing ↗ Also in 10-K of Aug 19, 2026
◦ $106 million of restructuring and other charges associated with the Restructuring Program component of the PRGP.
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Changes in accrued restructuring charges from the Restructuring Program for the nine months ended March 31, 2025 were:
Read in the filing ↗ Also in 10-Q of May 1, 2026
Changes in accrued restructuring charges from the Restructuring Program for the three months ended September 30, 2025 were:
Read in the filing ↗ Also in 10-Q of Nov 2, 2026
Changes in accrued restructuring charges from the Restructuring Program for the six months ended December 31, 2025 were:
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◦ The Company expects to take charges associated with previously approved restructuring and other activities. For the Restructuring Program Component of the
Read in the filing ↗ Also in 8-K of Aug 19, 2024, 8-K of Oct 31, 2024, 8-K of May 1, 2024, 8-K of May 1, 2024
For the three and nine months ended March 31, 2024, charges recorded associated with restructuring and other activities for the Restructuring Program were $ 17 million.
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Additional information relating to the Company's Profit Recovery and Growth Plan and related Restructuring Program, as well as the cumulative Restructuring Program approvals through June 30, 2026 by major cost type and specific actions taken since the inception of the Restructuring Program are included in Notes to Consolidated Financial Statements, Note 7 - Charges Associated with Restructuring and Other Activities in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026.
Read in the filing ↗ Also in 10-Q of Feb 5, 2026, 10-Q of May 1, 2026
For the classification of the restructuring and other charges for the PCBA program, please refer to the Restructuring Program Component of the Profit Recovery and Growth Plan above.
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Included in the above table, cumulative restructuring charges recorded by the Company in connection with the Restructuring Program as of September 30, 2025, by major cost type were:
Read in the filing ↗ Also in 10-Q of Feb 5, 2026, 10-Q of May 1, 2026, 10-Q of Nov 2, 2026
We planned to substantially complete specific initiatives under the restructuring program through fiscal 2026. We expected that the restructuring program would result in restructuring and other charges totaling between $500 million and $700 million, before taxes, consisting of employee-related costs, contract terminations, asset write-offs and other costs associated with implementing these initiatives.
Read in the filing ↗ Also in 10-K of Aug 20, 2025
The Company planned to substantially complete specific initiatives under the restructuring program through fiscal 2026, and expected that the restructuring program would result in restructuring and other charges totaling between $ 500 million and $ 700 million, before taxes, consisting of employee-related costs, asset-related costs, contract terminations and other costs associated with implementing these initiatives.
Read in the filing ↗ Also in 8-K of Feb 4, 2025, 10-Q of May 1, 2025, 10-K of Aug 20, 2025
The expanded component of the restructuring program began during our fiscal 2025 third quarter. The focus of the overall expanded restructuring program (collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas, (ii) simplification and acceleration of processes, (iii) outsourcing of select services and (iv) evolution of go-to-market footprint and selling models. Specific initiatives under the Restructuring Program are expected to be approved by the end of fiscal 2026 and substantially completed by the end of fiscal 2027.
Read in the filing ↗ Also in 10-Q of Feb 5, 2026, 10-Q of May 1, 2026
The Company plans to substantially complete specific initiatives under the restructuring program through fiscal 2026. The Company expects that the restructuring program will result in restructuring and other charges totaling between $500 million and $700 million, before taxes, consisting of employee-related costs, contract terminations, asset write-offs and other costs associated with implementing these initiatives.
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The restructuring program will begin during the Company’s fiscal 2024 third quarter. Specific initiatives under this restructuring program are expected to be substantially completed by the end of fiscal 2026. The restructuring program’s main focus includes the reorganization and rightsizing of certain areas of the Company as well as simplification and acceleration of processes.
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Included in the above table, cumulative restructuring charges for initiatives approved by the Company in connection with the Restructuring Program as of June 30, 2026, by major cost type, were:
Read in the filing ↗ Also in 10-Q of May 1, 2025, 10-K of Aug 20, 2025, 10-Q of Oct 30, 2025, 10-Q of Feb 5, 2026, 10-Q of May 1, 2026
The expanded component of the restructuring program began during the Company’s fiscal 2025 third quarter. The focus of the overall expanded restructuring program (collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas, (ii) simplification and acceleration of processes, (iii) outsourcing of select services and (iv) evolution of go-to-market footprint and selling models. Cumulative initiatives under the Restructuring Program are expected to be approved by the end of fiscal 2026 and substantially completed by the end of fiscal 2027.
Read in the filing ↗ Also in 10-Q of Feb 5, 2026, 10-Q of May 1, 2026
Further information about the Restructuring Program Component of the Profit Recovery and Growth Plan, is described in Notes to Consolidated Financial Statements, Note 3 - Charges Associated with Restructuring and Other Activities herein.
Read in the filing ↗ Also in 10-Q of Oct 30, 2025, 10-Q of Feb 5, 2026, 10-Q of May 1, 2026, 10-K of Aug 20, 2025, 10-K of Aug 19, 2026
The Company records approved charges associated with restructuring and other activities once the relevant accounting criteria have been met. Total cumulative charges recorded associated with restructuring and other activities for the PCBA Program were:
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The expanded component of the restructuring program began during the Company’s fiscal 2025 third quarter with all initiatives expected to be approved by the end of fiscal 2026, with specific initiatives under the expanded component of the restructuring program expected to be substantially completed by the end of fiscal 2027. The focus of the overall expanded restructuring program (collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas, (ii) simplification and acceleration of processes, (iii) outsourcing of select services and (iv) evolution of go-to-market footprint and selling models.
Read in the filing ↗ Also in 10-Q of May 1, 2025, 10-K of Aug 20, 2025
For information about the Restructuring Program Component of the Profit Recovery and Growth Plan, refer to Notes to Consolidated Financial Statements, Note 3 - Charges Associated with Restructuring and Other Activities herein and Notes to Consolidated Financial Statements, Note 7 - Charges Associated with Restructuring and Other Activities in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026.
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The expanded component of the restructuring program, as noted above, began during the Company’s fiscal 2025 third quarter with all initiatives expected to be approved by the end of fiscal 2026, with specific initiatives under the expanded component of the restructuring program expected to be substantially completed by the end of fiscal 2027. The focus of the overall expanded restructuring program (now, collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas, (ii) simplification and acceleration of processes, (iii) outsourcing of select services and (iv) evolution of go-to-market footprint and selling models.
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The expanded component of the restructuring program began during our fiscal 2025 third quarter with all initiatives to be approved by the end of fiscal 2026. Specific initiatives under the expanded component of the restructuring program are expected to be substantially completed by the end of fiscal 2027. The focus of the now expanded restructuring program (now, collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas and (ii) simplification and acceleration of processes, along with the newly added focus on (i) outsourcing of select services and (ii) evolution of go-to-market footprint and selling models.
Read in the filing ↗ Also in 10-K of Aug 20, 2025
As a component of the PRGP, on February 5, 2024, we announced a two-year restructuring program. The restructuring program’s main focus included the reorganization and rightsizing of certain areas of our business as well as simplification and acceleration of processes. We committed to this course of action on February 1, 2024 and at that time, planned to substantially complete specific initiatives under the restructuring program through fiscal 2026.
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The expanded component of the restructuring program will begin during the Company’s fiscal 2025 third quarter with all initiatives to be approved by the end of fiscal 2026. Specific initiatives under the expanded component of the restructuring program are expected to be substantially completed by the end of fiscal 2027. The focus of the now expanded restructuring program (now, collectively the “Restructuring Program”) includes (i) reorganization and rightsizing of certain areas and (ii) simplification and acceleration of processes, along with the newly added focus on (i) outsourcing of select services and (ii) evolution of go-to-market footprint and selling models.
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Accrued restructuring charges at June 30, 2025 relating to the Restructuring Program are expected to result in cash expenditures funded from cash provided by operations of approximately $ 274 million, $ 86 million, and $ 11 million for fiscal 2026, 2027, and 2028, respectively.
Read in the filing ↗ Also in 10-K of Aug 19, 2026
Today, the Company announced it is also significantly expanding the restructuring component of the PRGP. Once fully implemented, the Company expects to take restructuring and other charges of between $1.2 billion and $1.6 billion, before taxes, consisting of employee-related costs, contract terminations, asset write-offs, and other costs associated with implementing these initiatives. The restructuring program is expected to yield annual gross benefits of between $0.8 billion and $1.0 billion,
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Relating specifically to the restructuring program component of the PRGP, through June 30, 2026, the Company has recognized total cumulative charges under the restructuring component of the PRGP of $1.4 billion, consisting primarily of employee-related costs. In fiscal 2026, for the fourth quarter and full-year, the Company recognized charges of $0.3 billion and $0.8 billion, respectively. As noted above, approvals for specific initiatives under this restructuring program were concluded as of June 30, 2026.
Read in the filing ↗
As a component of the PRGP, on February 5, 2024, the Company announced a two-year restructuring program. The Company committed to this course of action on February 1, 2024. The Company planned to substantially complete specific initiatives under the restructuring program through fiscal 2026.
Read in the filing ↗
Restructuring Program Component of the Profit Recovery and Growth Plan Approvals
Read in the filing ↗ Also in 10-K of Aug 20, 2025
The Company classifies other charges associated with restructuring activities as follows:
Read in the filing ↗ Also in 10-K of Aug 20, 2025, 10-Q of Oct 30, 2025, 10-Q of Feb 5, 2026, 10-Q of May 1, 2026, 10-K of Aug 19, 2026, 10-Q of Nov 2, 2026
Accrued restructuring charges at September 30, 2025 relating to the Restructuring Program are expected to result in cash expenditures funded from cash provided by operations of approximately $ 248 million, $ 104 million and $ 17 million for the remainder of fiscal 2026 and for fiscal 2027 and 2028, respectively.
Read in the filing ↗ Also in 10-Q of Nov 2, 2026
Accrued restructuring charges at December 31, 2025 relating to the Restructuring Program are expected to result in cash expenditures funded from cash provided by operations of approximately $ 214 million, $ 197 million and $ 25 million for the remainder of fiscal 2026 and for fiscal 2027 and 2028, respectively.
Read in the filing ↗
Accrued restructuring charges at March 31, 2026 relating to the Restructuring Program are expected to result in cash expenditures funded from cash provided by operations of approximately $ 227 million, $ 254 million and $ 24 million for the remainder of fiscal 2026 and for fiscal 2027 and 2028, respectively.
Read in the filing ↗ Also in 10-Q of May 1, 2025
• Fiscal 2024 second quarter: $3 million restructuring and other charges and adjustments.
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• Fiscal 2024 third quarter: $23 million restructuring and other charges and adjustments.
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Charges associated with restructuring and other activities (486) (124) (362) (100+) (100+)
Read in the filing ↗ Also in 10-K of Aug 20, 2025
Reconciliation between GAAP and Non-GAAP - Net Sales Growth Twelve Months Ending (Unaudited) June 30, 2025(F) ────────────────────────────────────────────────────────────────────────────── As Reported - GAAP -9%) - (8% Impact of foreign currency translation — Returns associated with restructuring — and other activities(1) Organic, Non-GAAP -9%) - (8% (F)Represents forecast, using spot rates as of March 31, 2025. (1)The net sales growth impact of returns associated with restructuring and other activities includes approvals to date. Additional returns associated with restructuring and other activities are anticipated as initiatives are approved throughout fiscal 2025.
Read in the filing ↗ Also in 8-K of Aug 20, 2025, 8-K of Oct 30, 2025
Further Expands Its Profit Recovery Plan with the Announcement of a Restructuring Program
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• Fiscal 2023 third quarter: $19 million of restructuring and other charges and adjustments.
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• Fiscal 2024 first quarter: $10 million of restructuring and other charges and adjustments.
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• Excluding restructuring and other charges and adjustments referred to in the previous bullet,
Read in the filing ↗ Also in 8-K of Aug 19, 2026
After reviewing additional potential initiatives and the progress of previously approved initiatives, on February 3, 2025, the Company committed to the expansion of the PRGP, including an expansion of the restructuring program, with updated ranges of net reductions in positions globally and expected restructuring and other charges, as discussed below.
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Reconciliation between GAAP and Non-GAAP - Net Sales Growth Three Months Ending (Unaudited) March 31, 2025(F) ────────────────────────────────────────────────────────────────────────────── As Reported - GAAP -12%) - (10% Impact of foreign currency translation 2 Returns associated with restructuring — and other activities(1) Organic, Non-GAAP -10%) - (8% (F)Represents forecast, using spot rates as of December 31, 2024. (1)The net sales growth impact of returns associated with restructuring and other activities includes approvals to date. Additional returns associated with restructuring and other activities are anticipated as initiatives are approved throughout fiscal 2025.
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Reconciliation between GAAP and Non-GAAP - Net Sales Growth (Unaudited) Twelve Months Ending June 30, 2026(1) As Reported - GAAP 3% - 5% Impact of foreign currency translation 2 Returns associated with restructuring — and other activities(2) Organic, Non-GAAP 1% - 3% (1)Represents forecast, using spot rates as of December 31, 2025. (2)The net sales growth impact of returns associated with restructuring and other activities includes approvals to date. Additional returns associated with restructuring and other activities are anticipated as initiatives are approved in fiscal 2026.
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Relating specifically to the restructuring program component of the PRGP, once fully implemented, the Company expects to take restructuring and other charges of between $1.2 billion and $1.6 billion, before taxes, consisting of employee- related costs, contract terminations, asset write-offs, and other costs associated with implementing these initiatives. The restructuring program is expected to yield annual gross benefits of between $0.8 billion and $1.0 billion, before taxes, to help restore operating margin and also fuel reinvestment in consumer-facing areas to drive sustainable sales growth.
Read in the filing ↗