XML 37 R25.htm IDEA: XBRL DOCUMENT v3.25.2
Restructuring and Other Charges
 9 Months Ended
Jun. 27, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges Restructuring and Other Charges
During fiscal 2023, the Company implemented restructuring and separation initiatives relating to the Separation Transaction which continued through fiscal years 2024 and 2025 year to date and are expected to be substantially completed by the end of calendar year 2025. Restructuring initiatives were also implemented during fiscal 2023 relating to our investment in PA Consulting, which is substantially completed. While restructuring activities for each of these programs are comprised mainly of employee termination costs, the separation activities and costs are primarily related to the engagement of outside services, dedicated internal personnel and other related costs dedicated to the Separation Transaction.
Collectively, the above-mentioned restructuring activities are referred to as “Restructuring and other charges.”
The following table summarizes the impacts of the Restructuring and other charges by operating segment for the three and nine months ended June 27, 2025 and June 28, 2024 (in thousands):
Three Months EndedNine Months Ended
June 27, 2025June 28, 2024June 27, 2025June 28, 2024
Infrastructure & Advanced Facilities
$22,254 $50,770 $47,398 $120,327 
PA Consulting— 3,201 259 7,360 
Total (1)
$22,254 $53,971 $47,657 $127,687 

(1)The three and nine months ended June 27, 2025 and June 28, 2024 included approximately $22.0 million and $47.1 million, respectively, and $50.8 million and $120.3 million, respectively, in restructuring and other charges relating to the Separation Transaction (primarily professional services and employee separation costs), which were included in operating profit in the Company's Consolidated Statement of Earnings (mainly in SG&A).
The activity in the Company’s accruals for Restructuring and other charges for the nine months ended June 27, 2025 is as follows (in thousands):
Balance at September 27, 2024
$44,935 
Net Charges (Credits) 47,657 
Payments and other(72,701)
Balance at June 27, 2025$19,891 
The following table summarizes the Restructuring and other charges by major type of costs for the three and nine months ended June 27, 2025 and June 28, 2024 (in thousands):
Three Months EndedNine Months Ended
June 27, 2025June 28, 2024June 27, 2025June 28, 2024
Lease Abandonments and Impairments$— $— $— $49 
Terminations15,556 22,304 20,444 44,211 
Outside Services (1)
6,684 27,906 23,052 71,198 
Other (2)
14 3,761 4,161 12,229 
Total
$22,254 $53,971 $47,657 $127,687 
(1) Amounts in the three and nine months ended June 27, 2025 and June 28, 2024 are mainly comprised of professional services relating to the Separation Transaction.
(2) Amounts in the three and nine months ended June 27, 2025 and June 28, 2024 are comprised of charges relating to the Separation Transaction.
Cumulative amounts incurred to date for restructuring and other programs that were active as of June 27, 2025 by each major type of cost are as follows (in thousands):
Terminations$99,732 
Outside Services156,868 
Other (1)
61 
Total$256,661 
(1)Cumulative amount includes a $35.2 million realized gain on interest rate swaps settled during the fourth quarter of fiscal 2024.