The Company has continued to take restructuring actions in the year ended December 31, 2025 to align its resources and reduce overcapacity to adapt to changing market conditions and integrate acquisitions. These actions include consolidating functional activities, eliminating redundant positions, and aligning resources with customer requirements. These restructuring actions are expected to continue into 2026.

The management approved plans resulted in $105 million, $67 million and $84 million of restructuring expense, net of reversals, which consisted primarily of severance and other exit-related costs in the years ended December 31, 2025, 2024 and 2023, respectively.


(in millions)	Severance and Related Costs
Balance as of December 31, 2023	$	36
Expense, net of reversals	67
Payments	(81)

Foreign currency translation and other	(1)
Balance as of December 31, 2024	$	21
Expense, net of reversals	105
Payments	(97)
Foreign currency translation and other	2
Balance as of December 31, 2025	$	31

The reversals were due to changes in estimates primarily resulting from the redeployment of staff and higher than expected voluntary terminations. Restructuring costs are not allocated to the Company’s reportable segments as they are not part of the segment performance measures regularly reviewed by management, including the Company's chief operating decision maker. The Company expects the majority of the restructuring accruals as of December 31, 2025 will be paid in 2026.