RESTRUCTURING CHARGES

3 Months Ended

Jun. 30, 2023

The Company continued to identify certain structural changes to restructure its business throughout the first quarter of fiscal year 2024. During the three-month period ended June 30, 2023, the Company recognized approximately $23 million of restructuring charges, most of which related to employee severance.

The following table summarizes the provisions, respective payments, and remaining accrued balance as of June 30, 2023 for charges incurred during the three-month period ended June 30, 2023:


	Severance		Long-Lived Asset Impairment		Other Exit Costs		Total
	(In millions)
Balance as of March 31, 2023	$	44	$	—	$	6	$	50
Provision for charges incurred during the three-month period ended June 30, 2023	20		3		—		23
Cash payments during the three-month period ended June 30, 2023	(22)		—		—		(22)
Non-cash charges incurred during the three-month period ended June 30, 2023	—		(3)				(3)

Balance as of June 30, 2023	42		—		6		48
Less: Current portion (classified as other current liabilities)	42		—		6		48
Accrued restructuring costs, net of current portion (classified as other liabilities)	$	—	$	—	$	—	$	—