RESTRUCTURING CHARGES

3 Months Ended

Jun. 28, 2024

During the first quarter ended June 28, 2024, the Company committed to targeted restructuring activities to improve operational efficiencies. During the three-month period ended June 28, 2024, the Company recognized approximately $25 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 28, 2024 for charges incurred during the three-month period ended June 28, 2024:


	Severance		Long-Lived Asset Impairment		Other Exit Costs		Total
	(In millions)
Balance as of March 31, 2024	$	77	$	—	$	3	$	80
Provision for charges incurred during the three-month period ended June 28, 2024	25		—		—		25
Cash payments during the three-month period ended June 28, 2024	(19)		—		—		(19)

Other adjustments	(1)		—		—		(1)
Balance as of June 28, 2024	82		—		3		85
Less: Current portion (classified as other current liabilities)	81		—		3		84
Accrued restructuring costs, net of current portion (classified as other non-current liabilities)	$	1	$	—	$	—	$	1