XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.25.2

Restructuring, Severance and Related Charges | 9 Months Ended
--- | ---
May 31, 2025
Restructuring and Related Activities [Abstract] |
Restructuring, Severance and Related Charges | Restructuring, Severance, and Related Charges Following is a summary of the Company’s restructuring, severance, and related charges (in millions):
| Three months ended |  | Nine months ended
| May 31, 2025(1) |  | May 31, 2024(2) |  | May 31, 2025(1) |  | May 31, 2024(2)
Employee severance and benefit costs | $ | 5 |  |  | $ | 33 |  |  | $ | 50 |  |  | $ | 156 |
Lease costs | 2 |  |  | 1 |  |  | 6 |  |  | 2 |
Asset write-off costs | 7 |  |  | 17 |  |  | 34 |  |  | 72 |
Other costs | 2 |  |  | 4 |  |  | 54 |  |  | 22 |
Total restructuring, severance and related charges(3) | $ | 16 |  |  | $ | 55 |  |  | $ | 144 |  |  | $ | 252 |
(1)Primarily relates to the 2025 Restructuring Plan. (2)Primarily relates to the 2024 Restructuring Plan. (3)Except for asset write-off costs, all restructuring, severance and related charges are cash costs. The following table presents the Company’s restructuring, severance, and related charges disaggregated by segment (in millions):
| Three months ended |  | Nine months ended
| May 31, 2025 |  | May 31, 2024 |  | May 31, 2025 |  | May 31, 2024
Total restructuring, severance and related charges: |  |  |  |  |  |  |
Regulated Industries | $ | 7 |  |  | $ | 7 |  |  | $ | 49 |  |  | $ | 43 |
Intelligent Infrastructure | 8 |  |  | 23 |  |  | 32 |  |  | 63 |
Connected Living and Digital Commerce | — |  |  | 8 |  |  | 20 |  |  | 86 |
Non-allocated charges | 1 |  |  | 17 |  |  | 43 |  |  | 60 |
Total | $ | 16 |  |  | $ | 55 |  |  | $ | 144 |  |  | $ | 252 |
See Note 13 – “Concentration of Risk and Segment Data” to the Condensed Consolidated Financial Statements for further details on the change in reportable segments. 2025 Restructuring Plan On September 24, 2024, the Company’s Board of Directors approved a restructuring plan to align our support infrastructure to further optimize organizational effectiveness. This action includes headcount reductions across our Selling, General, and Administrative (“SG&A”) and manufacturing cost base and capacity realignment (the “2025 Restructuring Plan”). The 2025 Restructuring Plan reflects the Company’s intention only and restructuring decisions, and the timing of such decisions, at certain locations are still subject to consultation with the Company’s employees and their representatives. The Company expects to recognize approximately $200 million in pre-tax restructuring and other related costs over the course of the Company’s 2025 fiscal year. The charges relating to the 2025 Restructuring Plan are currently expected to result in net cash expenditures of approximately $100 million to $130 million that will be payable over the course of the Company’s fiscal years 2025 and 2026. The restructuring and other related charges are expected to include $60 million to $70 million of employee severance and benefit costs; $65 million to $70 million of asset write-off costs; and $55 million to $65 million of contract termination costs and other related costs. The amount and timing of the actual charges may vary due to a variety of factors, including the finalization of timetables for the transition of functions, consultation with employees and their representatives, as well as the impact of jurisdictional statutory severance requirements. The Company’s estimates for the charges discussed above exclude any potential income tax effects. The table below summarizes the Company’s liability activity, primarily associated with the 2025 Restructuring Plan (in millions):
| Employee Severance and Benefit Costs |  | Lease Costs |  | Asset Write-off Costs |  | Other Related Costs |  | Total
Balance as of August 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Restructuring related charges | 55 |  |  | 6 |  |  | 26 |  |  | 48 |  |  | 135 |
Asset write-off charge and other non-cash activity | — |  |  | — |  |  | (26) |  |  | (25) |  |  | (51) |
Cash payments | (45) |  |  | (6) |  |  | — |  |  | (8) |  |  | (59) |
Balance as of May 31, 2025 | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | 25 |
2024 Restructuring Plan On September 26, 2023, the Company’s Board of Directors approved a restructuring plan to (i) realign the Company’s cost base for stranded costs associated with the Company’s sale and realignment of the Mobility Business and (ii) optimize the Company’s global footprint. This action includes headcount reductions across our SG&A cost base and capacity realignment (the “2024 Restructuring Plan”). The 2024 Restructuring Plan, totaling approximately $300 million in pre-tax restructuring and other related costs, was substantially complete as of August 31, 2024. The table below summarizes the Company’s liability activity, primarily associated with the 2024 Restructuring Plan (in millions):
| Employee Severance and Benefit Costs |  | Lease Costs |  | Asset Write-off Costs |  | Other Related Costs |  | Total
Balance as of August 31, 2024 | $ | 66 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 72 |
Restructuring related charges | (5) |  |  | — |  |  | 8 |  |  | 6 |  |  | 9 |
Asset write-off charge and other non-cash activity | — |  |  | — |  |  | (8) |  |  | (2) |  |  | (10) |
Cash payments | (48) |  |  | (1) |  |  | — |  |  | (7) |  |  | (56) |
Balance as of May 31, 2025 | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 15 |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration