In July 2023, the Company initiated the 2023 Restructuring Plan as part of its efforts to reduce costs to better align the Company's operational needs with lower tower activity. The 2023 Restructuring Plan included reducing the Company's total employee headcount by approximately 15%, discontinuing installation services as a Towers product offering while continuing to offer site development services on Company towers, and consolidating office space.

In the first six months ended June 30, 2024, the Company recorded approximately $13 million in charges in connection with the 2023 Restructuring Plan (including $2 million in the three months ended June 30, 2024), $8 million of which is related to remaining obligations under facility leases and $4 million of non-cash charges representing accelerated depreciation. In connection with the headcount reduction, the Company recorded a $1 million charge which represents cash payments that have been made in connection with the employee headcount reduction.

The actions associated with the 2023 Restructuring Plan have been substantially completed and related charges have been recorded by June 30, 2024, while the payments are expected to be completed for the employee headcount reduction and office space consolidation in 2024 and 2032, respectively. The following table summarizes the activities related to the 2023 Restructuring Plan for the three and six months ended June 30, 2024:


	Three Months Ended June 30, 2024						Six Months Ended June 30, 2024
	Employee Headcount Reduction		Office Space Consolidation		Total		Employee Headcount Reduction		Office Space Consolidation		Total
Liability as of the beginning of the respective period	$	8	$	15	$	23	$	16	$	12	$	28
Charges	1		1		2		1		12		13
Payments	(3)		(4)		(7)		(11)		(8)		(19)
Non-cash items	—		—		—		—		(4)		(4)
Liability as of June 30, 2024	$	6	$	12	$	18	$	6	$	12	$	18

In June 2024, the Company initiated the 2024 Restructuring Plan as part of its efforts to drive operational efficiencies and reduce operating costs and capital expenditures, with a primary focus on the Company's Fiber segment. As a result, the Company announced a reduction of the Company's total employee headcount by more than 10% and the closing of certain offices.

In the second quarter 2024, the Company recorded approximately $43 million in charges in connection with the 2024 Restructuring Plan, $36 million of which represent cash payments that have been or will be made in connection with employee severance and other one-time termination benefits. In connection with the office closures, the Company recorded $7 million of non-cash charges representing accelerated depreciation.

The actions associated with the 2024 Restructuring Plan and related charges are expected to be substantially completed and recorded by December 31, 2024, while the payments are expected to be completed for the employee headcount reduction in 2025 and office closures in 2033. The Company expects to incur an additional approximately $70 million of related charges during the second half of 2024, primarily related to office closures. The Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the 2024 Restructuring Plan.

The following table summarizes the activities related to the 2024 Restructuring Plan for the three and six months ended June 30, 2024:


	Three and Six Months Ended June 30, 2024
	Employee Headcount Reduction		Office Closures		Total
Charges	36		7		43
Payments	(2)		—		(2)
Non-cash items	—		(7)		(7)
Liability as of June 30, 2024	$	34	$	—	$	34

As of June 30, 2024, the liability for restructuring charges is included in "Other accrued liabilities" on the consolidated balance sheet, and the corresponding expense is included in "Restructuring charges" on the condensed consolidated statements of operations and comprehensive income.

The Company does not allocate restructuring charges between its operating segments. If charges related to the Restructuring Plans were allocated to operating segments, for the three months ended June 30, 2024, $4 million and $27 million of the aforementioned charge would have been allocated to the Company's Towers and Fiber segment, respectively, with the remaining $14 million allocated to Other. Similarly, for the six months ended June 30, 2024, $6 million and $31 million of the aforementioned charge would have been allocated to the Company's Towers and Fiber segment, respectively, with the remaining $19 million allocated to Other.