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Restructuring, Impairment, and Related Charges, Net | 3 Months Ended
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Jun. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring, Impairment, and Related Charges, Net | Restructuring, Impairment, and Related Charges, Net The Company recorded restructuring, impairment, and related charges, net of $52 million and $23 million for the three months ended June 30, 2023 and 2022, respectively. These charges were included in “Restructuring, impairment, and related charges, net” in the Condensed Consolidated Statements of Operations. Restructuring Initiatives During the fourth quarter of fiscal 2023, the Company approved a broad set of initiatives to drive operational efficiencies and increase cost optimization efforts, with the intent of simplifying its infrastructure and realizing long-term sustainable growth. These initiatives include headcount reductions and the exit or downsizing of certain facilities. The Company anticipates total charges of approximately $125 million across its RxTS and U.S. Pharmaceutical segments as well as Corporate, consisting primarily of employee severance and other employee-related costs, facility and other exit-related costs, as well as long-lived asset impairments. Of this amount, $96 million of charges were recorded to date. For the three months ended June 30, 2023, the Company recorded charges of $36 million related to this program, which primarily includes real estate and other related asset impairments and facility costs within Corporate. This restructuring program is anticipated to be substantially complete by the end of fiscal 2024. Restructuring, impairment, and related charges, net for the three months ended June 30, 2023 and 2022 consisted of the following:
| Three Months Ended June 30, 2023
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions (1) |  | Medical-Surgical Solutions |  | International |  | Corporate (1) |  | Total
Severance and employee-related costs, net | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 2 |
Exit and other-related costs (2) | 1 |  |  | 2 |  |  | 2 |  |  | 5 |  |  | 12 |  |  | 22 |
Asset impairments and accelerated depreciation | — |  |  | — |  |  | — |  |  | 1 |  |  | 27 |  |  | 28 |
Total | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 40 |  |  | $ | 52 |
(1)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions. (2)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
| Three Months Ended June 30, 2022
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Severance and employee-related costs, net | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1) |  |  | $ | 2 |
Exit and other-related costs (1) | 1 |  |  | 2 |  |  | 1 |  |  | 2 |  |  | 15 |  |  | 21 |
Asset impairments and accelerated depreciation | — |  |  | 5 |  |  | — |  |  | — |  |  | (5) |  |  | — |
Total | $ | 4 |  |  | $ | 7 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 9 |  |  | $ | 23 |
(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the three months ended June 30, 2023:
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Balance, March 31, 2023 (1) | $ | 15 |  |  | $ | 26 |  |  | $ | 3 |  |  | $ | 13 |  |  | $ | 35 |  |  | $ | 92 |
Restructuring, impairment, and related charges, net | 2 |  |  | 2 |  |  | 2 |  |  | 6 |  |  | 40 |  |  | 52 |
Non-cash charges | — |  |  | — |  |  | — |  |  | (1) |  |  | (27) |  |  | (28) |
Cash payments | (5) |  |  | (13) |  |  | (2) |  |  | (2) |  |  | (15) |  |  | (37) |
Other (2) | — |  |  | — |  |  | — |  |  | (5) |  |  | — |  |  | (5) |
Balance, June 30, 2023 (3) | $ | 12 |  |  | $ | 15 |  |  | $ | 3 |  |  | $ | 11 |  |  | $ | 33 |  |  | $ | 74 |
(1)As of March 31, 2023, the total reserve balance was $92 million, of which $66 million was recorded in “Other accrued liabilities” and $26 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet. (2)Other primarily includes cumulative translation adjustments and transfers to certain other liabilities. (3)As of June 30, 2023, the total reserve balance was $74 million, of which $44 million was recorded in “Other accrued liabilities” and $30 million was recorded in “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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