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Restructuring, Impairment, and Related Charges, Net | 3 Months Ended
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Jun. 30, 2025
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 $47 million and $10 million for the three months ended June 30, 2025 and 2024, respectively. These charges were included in “Restructuring, impairment, and related charges, net” in the Condensed Consolidated Statement of Operations. Restructuring Initiatives During the second quarter of fiscal 2025, the Company approved enterprise-wide initiatives to modernize and accelerate the technology service operating model which were intended to improve business continuity, compliance, operating efficiency and advance investments to streamline the organization. These initiatives include cost reduction efforts and support other rationalization efforts within Corporate, and the Medical-Surgical Solutions and U.S. Pharmaceutical segments to help realize long-term sustainable growth. The Company anticipates total charges related to these initiatives of $650 million to $700 million, consisting primarily of employee severance and other employee-related costs as well as facility, exit, and other related costs, including long-lived asset impairments. These programs are anticipated to be substantially complete in fiscal 2028. For the three months ended June 30, 2025, the Company recorded charges of $38 million related to these initiatives, which primarily includes facility exit and other related costs as well as severance and other employee-related costs. Restructuring, impairment, and related charges, net for the three months ended June 30, 2025 and 2024 consisted of the following:
| Three Months Ended June 30, 2025
(In millions) | U.S. Pharmaceutical (1) |  | Prescription Technology Solutions |  | Medical-Surgical Solutions (2) |  | International |  | Corporate (3) |  | Total
Severance and employee-related costs, net | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | (1) |  |  | $ | 4 |
Exit and other-related costs (4) | 1 |  |  | — |  |  | 12 |  |  | — |  |  | 28 |  |  | 41 |
Asset impairments and accelerated depreciation | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Total | $ | 1 |  |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | 29 |  |  | $ | 47 |
(1)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s U.S. Pharmaceutical segment. (2)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Medical-Surgical Solutions segment. (3)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s Corporate segment. (4)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, 2024
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Severance and employee-related costs, net | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1) |  |  | $ | (1) |
Exit and other-related costs (1) | — |  |  | 3 |  |  | 3 |  |  | — |  |  | 2 |  |  | 8 |
Asset impairments and accelerated depreciation | 1 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 3 |
Total | $ | 1 |  |  | $ | 4 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 10 |
(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, 2025:
(In millions) | U.S. Pharmaceutical |  | Prescription Technology Solutions |  | Medical-Surgical Solutions |  | International |  | Corporate |  | Total
Balance, March 31, 2025 (1) | $ | 10 |  |  | $ | 1 |  |  | $ | 90 |  |  | $ | 1 |  |  | $ | 24 |  |  | $ | 126 |
Restructuring, impairment, and related charges, net | 1 |  |  | — |  |  | 17 |  |  | — |  |  | 29 |  |  | 47 |
Non-cash charges | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (2) |
Cash payments | (2) |  |  | — |  |  | (50) |  |  | — |  |  | (31) |  |  | (83) |
Balance, June 30, 2025 (2) | $ | 9 |  |  | $ | 1 |  |  | $ | 57 |  |  | $ | 1 |  |  | $ | 20 |  |  | $ | 88 |
(1)As of March 31, 2025, the total reserve balance was $126 million, of which $103 million was recorded within “Other accrued liabilities” and $23 million was recorded within “Other non-current liabilities” in the Company’s Condensed Consolidated Balance Sheet. (2)As of June 30, 2025, the total reserve balance was $88 million, of which $68 million was recorded within “Other accrued liabilities” and $20 million was recorded within “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 S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: 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 + Details
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