In 2023, BMS commenced a restructuring plan to accelerate the delivery of medicines to patients by evolving and streamlining its enterprise operating model in key areas, such as R&D, manufacturing, commercial and other functions, to ensure its operating model supports and is appropriately aligned with the Company’s strategy to invest in key priorities. These changes primarily include (i) transforming R&D operations to accelerate pipeline delivery, (ii) enhancing BMS's commercial operating model, and (iii) establishing a more responsive manufacturing network. As a result, total charges for the 2023 Restructuring Plan are expected to be approximately $2.5 billion through 2027, with $1.8 billion incurred to date. The remaining charges consist primarily of site exit costs, including impairment and accelerated depreciation of property, plant and equipment, and employee termination costs.

Restructuring and integration plans were initiated to realize expected cost synergies resulting from cost savings and avoidance from acquisitions. For these plans, the remaining charges of approximately $65 million consist primarily of IT system integration costs, employee termination costs, and to a lesser extent, site exit costs, including impairment and accelerated depreciation of property, plant and equipment.


	Three Months Ended March 31,
Dollars in millions	2026		2025
2023 Restructuring Plan	$	(20)	$	143
Other Acquisition Plans	21		47
Total charges	$	1	$	190

Employee termination costs	$	(2)	$	132
Other termination costs	7		1
Provision for restructuring	5		133
Integration expenses	19		41
Accelerated depreciation	—		15
Asset impairments	2		8
Other shutdown costs, net	(24)		(7)
Total charges	$	1	$	190

Cost of products sold	$	—	$	2
Selling, general and administrative	—		1
Research and development	1		21
Other (income)/expense, net	(1)		166
Total charges	$	1	$	190


	Three Months Ended March 31,
Dollars in millions	2026		2025
Beginning balance	$	315	$	297
Provision for restructuring	5		133
Payments	(143)		(145)
Foreign currency translation and other	(3)		3
Ending balance	$	173	$	288