Restructuring Charges and Other Costs Associated with Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The components of costs incurred in connection with restructuring initiatives, acquisitions and divestitures are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(MILLIONS OF DOLLARS)	2025		2024		2025		2024
Restructuring charges and certain acquisition and divestiture-related costs:
Acquisition-related costs	$	—	$	—	$	1	$	1
Divestiture-related costs(a)	—		7		—		11
Restructuring charges, net(b):
Employee termination costs, net	(1)		(2)		4		39
Asset impairment charges	—		—		22		—
Exit costs	5		—		7		—
Total Restructuring charges and certain acquisition and divestiture-related costs	$	4	$	5	$	34	$	51

(a) Divestiture-related costs related to the sale of our medicated feed additive product portfolio, certain water soluble products and related assets.

(b) Restructuring charges for the three and nine months ended September 30, 2025 primarily related to a transition from internal to external innovation and manufacturing of certain products and the closure of a related site.

Restructuring charges for the nine months ended September 30, 2024 primarily related to organizational structure refinements, partially offset by a reversal of costs as a result of a change in strategy from our 2015 operational efficiency initiative.

The change in our restructuring accrual is as follows:

(MILLIONS OF DOLLARS)	Accrual
Balance, December 31, 2024(a)	$	28
Provision	33
Non-cash activity	(22)
Utilization and other(b)	(21)
Balance, September 30, 2025(a)	$	18

(a)    At September 30, 2025 and December 31, 2024, included in Accrued expenses ($16 million and $26 million, respectively) and Other noncurrent liabilities ($2 million).

(b)     Includes adjustments for foreign currency translation.