On August 7, 2023, the Board of Directors approved a 3-year cost take-out to grow program (the “CTO2Grow Program”). The total cash cost of this program is estimated to be $160 million.

For the three months ended March 31, 2025, the Company incurred cash expense including $2.6 million of restructuring charges related to headcount reductions and $5.8 million of other associated costs for the CTO2Grow Program. For the three months ended March 31, 2025, the Company incurred non-cash expense of $0.6 million of other associated costs in connection with the CTO2Grow Program.

For the three months ended March 31, 2024, the Company incurred cash expense including $15.3 million of restructuring charges related to headcount reductions and $6.7 million of other associated costs for the CTO2Grow Program.


(In millions)	Total Restructuring Program		Less Program Activity to Date		Remaining Restructuring

Costs of reduction in headcount as a result of reorganization	$	90	$	(78)	$	12
Other associated costs	45		(32)		13
Contract terminations	20		(15)		5
Total cash expense	155		(125)		30
Capital expenditures	5		(3)		2
Total estimated cash cost(1)	$	160	$	(128)	$	32
Total estimated non-cash expense(2)	$	38	$	(38)	$	—
Total estimated expense(3)	$	193	$	(163)	$	30

(1)Total estimated cash cost excludes the impact of proceeds expected from the sale of property and equipment and foreign currency impact.

(2)Reflects actual expenses that have been incurred. Ranges associated with future non-cash expenses related to the CTO2Grow Program are difficult to estimate and are not available without unreasonable efforts, as these typically relate to exit and disposal activities.

The following table details our aggregate restructuring activities as reflected in the Condensed Consolidated Statements of Operations.


	Three Months Ended March 31,
(In millions)		2025		2024

Other associated costs		$	6.4	$	6.8
Contract terminations		—		(0.1)
Restructuring charges		2.6		15.5


Total charges		$	9.0	$	22.2
Capital expenditures		$	1.1	$	—

The aggregate restructuring accrual, spending and other activity for the three months ended March 31, 2025 and the accrual balance remaining at March 31, 2025 was as follows:


(In millions)





Restructuring accrual at December 31, 2024	$	43.6
Headcount accrual and accrual adjustments	2.6

Cash payments during 2025	(13.4)

Effect of changes in foreign currency exchange rates	0.8
Restructuring accrual at March 31, 2025	$	33.6

We expect to pay $32.1 million of the accrual balance as of March 31, 2025 within the next twelve months. The remaining accrual of $1.5 million is expected to be paid primarily in 2026. These amounts are included in Accrued restructuring costs and Other non-current liabilities, respectively, on our Condensed Consolidated Balance Sheets at March 31, 2025.

The CTO2Grow Program was approved by our Board of Directors as a consolidated program benefiting both Food and Protective, and accordingly the expected program spend by reporting segment is not available. However, of the total restructuring accrual of $33.6 million as of March 31, 2025, $18.4 million was attributable to Food and $15.2 million was attributable to Protective.