During the three and six months ended December 31, 2023, the Company recognized non-cash impairment charges of $1 million and $22 million, respectively, at the News Media segment related to the write-down of fixed assets associated with the proposed combination of certain United Kingdom (“U.K.”) printing operations with those of a third party.

During the three and six months ended December 31, 2023, the Company recorded restructuring charges of $10 million and $27 million, respectively, related to employee termination benefits. The employee termination benefits recorded in fiscal 2024 resulted from actions taken by the Company’s businesses in response to the 5% headcount reduction initiative announced in February 2023.

During the three and six months ended December 31, 2022, the Company recorded restructuring charges of $19 million and $40 million, respectively. The restructuring charges recorded in fiscal 2023 primarily related to employee termination benefits.


	For the three months ended December 31,
	2023				2022
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Other costs		Total
	(in millions)
Balance, beginning of period	$	29	$	41	$	70	$	22	$	40	$	62
Additions	10		—		10		16		3		19
Payments	(17)		(2)		(19)		(12)		(2)		(14)
Other	1		—		1		(1)		—		(1)
Balance, end of period	$	23	$	39	$	62	$	25	$	41	$	66


	For the six months ended December 31,
	2023				2022
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Other costs		Total
	(in millions)
Balance, beginning of period	$	53	$	41	$	94	$	25	$	41	$	66
Additions	26		1		27		36		4		40
Payments	(56)		(3)		(59)		(34)		(4)		(38)
Other	—		—		—		(2)		—		(2)
Balance, end of period	$	23	$	39	$	62	$	25	$	41	$	66

As of December 31, 2023, restructuring liabilities of approximately $35 million were included in the Balance Sheet in Other current liabilities and $27 million were included in Other non-current liabilities.