The Company approved a restructuring program in fiscal 2022 (the “2022 Program”) to improve business performance, increase collaboration, enhance team member agility, enable faster decision-making and reduce redundancies. The following table reflects the total pretax anticipated expenses associated with the 2022 Program (in millions):



	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	25	$	7	$	22	$	53	$	18	$	125
Relocation and related costs	22		7		3		21		—		53
Accelerated depreciation	5		2		—		12		—		19
Contract and lease terminations	—		—		—		21		—		21
Professional and other fees	2		1		—		4		—		7
Total 2022 Program	$	54	$	17	$	25	$	111	$	18	$	225

Restructuring costs include severance expenses and related charges directly associated with the 2022 Program such as relocation, contract and lease terminations, professional fees and accelerated depreciation resulting from the closure of facilities. We anticipate that $48 million and $177 million of the total pretax anticipated expense will be recorded in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the table above are $199 million of charges that have resulted or will result in cash outflows and $26 million in non-cash charges.


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	1	$	—	$	2	$	1	$	—	$	4
Relocation and related costs	3		1		—		4		—		8
Accelerated depreciation	—		—		—		—		—		—
Contract and lease terminations	—		—		—		19		—		19
Professional and other fees	—		—		—		—		—		—
Total	$	4	$	1	$	2	$	24	$	—	$	31

For the first nine months of fiscal 2024, we recorded restructuring and related charges of $31 million in Selling, General and Administrative in our Consolidated Condensed Statements of Income. Included in the above results are $21 million of charges that have resulted or will result in cash outflows and $10 million in non-cash charges.


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	4	$	1	$	10	$	4	$	9	$	28
Relocation and related costs	7		3		—		6		—		16
Accelerated depreciation	1		—		—		3		—		4
Contract and lease terminations	—		—		—		1		—		1
Professional and other fees	1		—		—		—		—		1
Total	$	13	$	4	$	10	$	14	$	9	$	50

For the third quarter of fiscal 2023, we recorded restructuring and related charges of $19 million and $31 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. There were no charges for the third quarter of fiscal 2024.


	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	6	$	2	$	9	$	10	$	15	$	42
Relocation and related costs	14		5		2		12		—		33
Accelerated depreciation	4		1		—		9		—		14
Contract and lease terminations	—		—		—		(1)		—		(1)
Professional and other fees	2		—		—		3		—		5
Total	$	26	$	8	$	11	$	33	$	15	$	93

For the first nine months of fiscal 2023, we recorded restructuring and related charges of $23 million and $70 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $80 million of charges that have resulted or will result in cash outflows and $13 million in non-cash charges.



	Beef		Pork		Chicken		Prepared Foods		International/Other		Total
Severance costs	$	25	$	7	$	22	$	53	$	18	$	125
Relocation and related costs	21		7		2		20		—		50
Accelerated depreciation	5		2		—		12		—		19
Contract and lease terminations	—		—		—		21		—		21
Professional and other fees	2		1		—		3		—		6
Total	$	53	$	17	$	24	$	109	$	18	$	221

Through the third quarter of fiscal 2024, we recorded restructuring and related charges to date of $47 million and $174 million in Cost of Sales and Selling, General and Administrative, respectively, in our Consolidated Condensed Statements of Income. Included in the above results are $195 million of charges to date that have resulted or will result in cash outflows and $26 million in non-cash charges to date.



	Balance at September 30, 2023		Restructuring Expense		Payments		Changes in Estimates		Balance at June 29, 2024
Severance costs	$	58	$	6	$	(51)	$	(2)	$	11
Relocation and related costs	5		8		(11)		—		2
Contract and lease termination	—		9		(9)		—		—
Professional and other fees	2		—		—		(1)		1
Total	$	65	$	23	$	(71)	$	(3)	$	14

During fiscal 2023, as part of a strategic review of assets, the Company approved the closure of six Chicken segment processing facilities located in Glen Allen, Virginia; Van Buren, Arkansas; Corydon, Indiana; Dexter, Missouri; Noel, Missouri; and North Little Rock, Arkansas, to optimize asset utilization. As of the second quarter of fiscal 2024, we shifted production to other facilities and ceased operations at all six facilities. Additionally, during the first quarter of fiscal 2024, the Company approved the closure of two case ready value-added plants in our Beef segment located in Columbia, South Carolina and Jacksonville, Florida and during the second quarter of fiscal 2024 approved the closure of a Pork segment processing facility in Perry, Iowa to optimize asset utilization. We shifted production to other facilities and ceased operations at our Columbia and Jacksonville facilities during the first quarter of fiscal 2024, and shifted production and ceased operations at our Perry facility during the third quarter of fiscal 2024.

As a result of the plant closures, we recorded $41 million and $155 million of charges in the third quarter and first nine months of fiscal 2024, respectively, and $15 million and $107 million of charges in the third quarter and first nine months of fiscal 2023, primarily related to grower contract terminations, accelerated depreciation, severance, retention and related costs. The charges are reflected in the Consolidated Condensed Statements of Income in Cost of Sales. Included in the results for the first nine months of fiscal 2024 are $12 million of charges that have resulted or will result in cash outflows and $143 million in non-cash charges. Included in the results for the first nine months of fiscal 2023 are $83 million of charges that have resulted or will result in cash outflows and $24 million of non-cash charges.

During the first quarter of fiscal 2024, we experienced a fire at a production facility in the Netherlands which is included in International/Other for segment presentation. Subsequent to the first quarter of fiscal 2024, we recognized additional charges due to our decision to sell the facility. For the third quarter and first nine months of fiscal 2024, these charges totaled $3 million and $83 million, respectively, primarily related to property, plant and equipment impairments, severance costs, inventory write-offs and clean-up costs, partially offset by insurance proceeds. The net charges are reflected in the Consolidated Condensed Statements of Income in Cost of Sales and, for the first nine months of fiscal 2024, included $30 million of charges that have resulted or will result in cash outflows and $58 million of non-cash charges, offset by $5 million of insurance proceeds.

We continue to strategically evaluate optimization of such items as network capacity, manufacturing efficiencies and business technology. If we have a significant change in strategies, outlook, or a manner in which we plan to use these assets, we may experience future charges.