We continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2025 restructuring plan consisted of a company-wide workforce reduction of approximately 1,300 positions and are further detailed below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets.

In certain circumstances, reserves are no longer needed because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed.

The initial restructuring charge recorded and the ending reserve balance as of March 31, 2026 by segment is as follows:


	2025 Restructuring Plan
(in millions)		Initial Charge Recorded		Ending Reserve Balance
Market Intelligence		$	56	$	12
Ratings		17		3
Energy		19		8
Mobility		15		7
Indices		4		3

Corporate		46		16
Total		$	157	$	49

For the three months ended March 31, 2026, we did not record any restructuring charges. The ending reserve balance for the 2025 restructuring plan was $85 million as of December 31, 2025. For the three months ended March 31, 2026, we have reduced the reserve for the 2025 restructuring plan by $36 million. The ending reserve balance for the 2024 restructuring plan was $4 million and $15 million as of March 31, 2026 and December 31, 2025, respectively. The reductions primarily related to cash payments for employee severance charges.