In 2023 we initiated additional cost saving measures as part of our Fit for Growth program to reduce operating costs, while improving operating efficiency and effectiveness. The Fit for Growth program is expected to generate approximately $1.0 billion in gross operating expense savings by the end of 2025, some of which will be reinvested in various initiatives. The Fit for Growth program is currently estimated to include net headcount reductions of approximately 1,000 employees and we expect to incur restructuring charges ranging from approximately $260.0 million to $280.0 million.


	For the Years Ended December 31,
	2024						2023
(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accelerated Depreciation and Other Costs		Total
Selling, general and administrative	$	—	$	13.8	$	13.8	$	—	$	23.3	$	23.3
Research and development	—		11.7		11.7		—		1.2		1.2
Restructuring charges	24.2		—		24.2		153.4		34.6		188.0
Total charges	$	24.2	$	25.5	$	49.7	$	153.4	$	59.1	$	212.5

Other Costs: includes costs associated with items such as asset abandonment and write-offs, facility closure costs, pretax gains and losses resulting from the termination of certain leases, employee non-severance expense, consulting fees and other costs.

Following the close of our Reata acquisition in September 2023, we implemented an integration plan designed to realize operating synergies through cost savings and avoidance. Under this initiative, we estimate we will incur total integration charges of approximately $35.0 million, related to severance and employment costs. These severance and employment costs were substantially incurred during 2023.


	For the Years Ended December 31,
	2024						2023
(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accelerated Depreciation and Other Costs		Total
Selling, general and administrative	$	—	$	6.3	$	6.3	$	—	$	—	$	—
Research and development	—		11.9		11.9		—		—		—
Restructuring charges	3.4		—		3.4		30.4		—		30.4
Total charges	$	3.4	$	18.2	$	21.6	$	30.4	$	—	$	30.4

In connection with our acquisition of Reata we assumed responsibility for a single-tenant, build-to-suit building of approximately 327,400 square feet of office and laboratory space located in Plano, Texas, with an initial lease term of 16 years. We do not intend to occupy this building and are evaluating opportunities to sublease the property. For additional information on our acquisition of Reata, please read Note 2, Acquisitions, to these consolidated financial statements.

Following the close of our HI-Bio acquisition in July 2024, we implemented an integration plan designed to realize operating synergies through cost savings and avoidance. Under this initiative, we incurred approximately $2.6 million of severance and employment costs, which are reflected in restructuring charges within our consolidated statements of income for the year ended December 31, 2024. For additional information on our acquisition of HI-Bio, please read Note 2, Acquisitions, to these consolidated financial statements.

In December 2021 and May 2022 we announced our plans to implement a series of cost-reduction measures during 2022. These savings are being achieved through a number of initiatives, including reductions to our workforce, the substantial elimination of our commercial ADUHELM infrastructure, deprioritization of certain research and development programs, the consolidation of certain real estate locations and operating efficiencies across our selling, general and administrative and research and development functions. Charges related to our 2022 cost saving initiatives were substantially incurred during 2022 with remaining payments expected to be made through 2026.


	For the Years Ended December 31,
	2023						2022
(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accumulated Depreciation and Other Costs(1)		Total
Restructuring charges	$	(2.2)	$	2.6	$	0.4	$	112.6	$	18.5	$	131.1
Total charges	$	(2.2)	$	2.6	$	0.4	$	112.6	$	18.5	$	131.1

(1) Amounts reflect a gain recorded during the third quarter of 2022 of approximately $5.3 million related to the partial termination of a portion of our lease located at 300 Binney Street. For additional information on our 300 Binney Street lease modification, please read Note 12, Leases, to these consolidated financial statements.


(In millions)	Workforce Reductions
Restructuring reserve, December 31, 2022	$	35.9
Expense	181.6
Payment	(140.5)
Foreign currency and other adjustments	(1.6)
Restructuring reserve, December 31, 2023	75.4
Expense	30.2
Payment	(73.8)
Foreign currency and other adjustments	0.1
Restructuring reserve, December 31, 2024	$	31.9