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Restructuring Programs and Related Costs

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring Programs and Related Costs

Restructuring Programs and Related Costs

The Company engages in a series of restructuring programs related to exiting certain activities, downsizing its employee base, outsourcing certain internal functions and engaging in other actions designed to reduce its cost structure and improve productivity. The implementation of the Company's operational efficiency improvement initiatives has reduced the Company's real estate footprint across all geographies and segments resulting in lease right-of-use ("ROU") asset impairments and other related costs. Also included in Restructuring and related costs are incremental, non-recurring costs related to the consolidation of the Company's data centers, which totaled $0 million and $1 million for the three months ended September 30, 2025 and 2024, respectively, and $0 million and $4 million for the nine months ended September 30, 2025 and 2024, respectively. Management continues to evaluate the Company's businesses and, in the future, there may be additional provisions for new plan initiatives and/or changes in previously recorded estimates as payments are made, or actions are completed.

Costs associated with restructuring, including employee severance and lease termination costs, are generally recognized when it has been determined that a liability has been incurred, which is generally upon communication to the affected employees or exit from the leased facility. In those geographies where the Company has either a formal severance plan or a history of consistently providing severance benefits representing a substantive plan, it recognizes employee severance costs when they are both probable and reasonably estimable. Asset impairment costs related to the reduction of the Company's real estate footprint include impairment of operating lease ROU assets and associated leasehold improvements.

A summary of the Company's restructuring program activity during the nine months ended September 30, 2025 and 2024 is as follows:

(in millions)			Severance and Related Costs						Termination and Other Restructuring-related Costs(2)						Asset Impairments						Total
Accrued Balance at December 31, 2024			$	13					$	2					$	—					$	15
Provision			14						7						3						24
Changes in estimates			—						—						—						—
Total Net Current Period Charges(1)			14						7						3						24
Charges against reserve and currency			(19)						(9)						(3)						(31)
Accrued Balance at September 30, 2025			$	8					$	—					$	—					$	8

(in millions)			Severance and Related Costs						Termination and Other Restructuring-related Costs(2)						Asset Impairments						Total
Accrued Balance at December 31, 2023			$	9					$	1					$	—					$	10
Provision			9						10						2						21
Changes in estimates			—						—						—						—
Total Net Current Period Charges(1)			9						10						2						21
Charges against reserve and currency			(15)						(11)						(2)						(28)
Accrued Balance at September 30, 2024			$	3					$	—					$	—					$	3

__________

(1)Represents amounts recognized within the Condensed Consolidated Statements of Income (Loss) for the years shown.

(2)During the nine months ended September 30, 2024, the Company incurred $1 million of costs for bringing certain technology functions in-house. There were no such costs incurred in the nine months ended September 30, 2025. These costs are included in the above table in Termination and other costs.

No restructuring and related costs are allocated to the segments.

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- References

No definition available.

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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

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