Restructuring

9 Months Ended

Oct. 31, 2024

Restructuring and Related Activities [Abstract]

In January 2023, the Company announced a restructuring plan (the “Restructuring Plan”) intended to reduce operating costs, improve operating margins and continue advancing the Company’s ongoing commitment to profitable growth. This plan included a reduction of the Company’s workforce and select real estate exits and office space reductions within certain markets. The actions associated with the employee restructuring under the Restructuring Plan were substantially completed in fiscal 2024 and the actions associated with the real estate portion of the Restructuring Plan are expected to be substantially complete in fiscal 2026. In the first nine months of fiscal 2025, the Company approved restructuring initiatives focused on driving further operational efficiencies, optimizing our management structure and increasing cost optimization efforts to realize long-term

sustainable growth through a targeted workforce reduction. The actions associated with these initiatives are expected to be substantially complete in fiscal 2025.

The following tables summarize the activities related to the Company’s restructuring initiatives for the three and nine months ended October 31, 2024 and 2023 (in millions):


	Three Months Ended October 31, 2024						Nine Months Ended October 31, 2024
	Workforce Reduction		Office Space Reductions		Total		Workforce Reduction		Office Space Reductions		Total




Liability, beginning of the period	$	69	$	0	$	69	$	118	$	2	$	120
Charges	47		9		56		117		46		163
Payments	(39)		0		(39)		(156)		(2)		(158)
Non-cash items	0		(9)		(9)		(2)		(46)		(48)
Liability, end of the period	$	77	$	0	$	77	$	77	$	0	$	77


	Three Months Ended October 31, 2023						Nine Months Ended October 31, 2023
	Workforce Reduction		Office Space Reductions		Total		Workforce Reduction		Office Space Reductions		Total




Liability, beginning of the period	$	117	$	0	$	117	$	607	$	0	$	607
Charges	47		8		55		436		379		815
Payments	(103)		(25)		(128)		(963)		(27)		(990)
Non-cash items	0		20		20		(19)		(349)		(368)
Liability, end of the period	$	61	$	3	$	64	$	61	$	3	$	64

The liability for restructuring charges, which is related to workforce and office space reductions, is included in accounts payable, accrued expenses and other liabilities on the condensed consolidated balance sheets. The charges reflected in the tables above related to workforce reduction included charges for employee transition, severance payments, employee benefits and share-based compensation. The charges reflected in the tables above related to office space reductions included exit charges associated with those reductions.