In February 2024, we approved and initiated a global restructuring designed to better align our assets and further improve the efficiency of the business. This initiative includes an announced voluntary retirement offer in the U.S., along with a rationalization and optimization of certain distribution centers, stores and other facilities.

In the first quarter 2024, we incurred $83 million in restructuring and other costs. We expect to incur total costs up to $200 million related to the global restructuring efforts in 2024 and to substantially complete the initiative by the end of 2025. We may incur additional charges not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of these initiatives.

The global restructuring was approved and funded by our corporate office and therefore these costs are not allocated to our segments.

The table below summarizes the activity related to the restructuring costs discussed above.


(in thousands)	Severance and other employee costs		Other restructuring costs (1)		Total
Liability as of January 1, 2024	$	—	$	—	$	—
Restructuring and other costs	61,624		21,418		83,042
Cash payments	(7,036)		(13,018)		(20,054)
Non-cash charges	1,339		(8,255)		(6,916)
Translation	(25)		—		(25)
Liability as of March 31, 2024	$	55,902	$	145	$	56,047