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Cost Reduction Actions | 6 Months Ended
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Jun. 28, 2025
Restructuring and Related Activities [Abstract] |
Cost Reduction Actions | Cost Reduction Actions 2025 Actions We recorded $12.9 million in restructuring charges, net of reversals, during the six months ended June 28, 2025. These charges consisted of severance and related costs for the reduction of approximately 460 positions, as well as asset impairment charges, at various locations across our company. Our 2025 actions are primarily intended to optimize our operational footprint. During the six months ended June 28, 2025, restructuring charges and payments were as follows:
(In millions) | Accrual at December 28, 2024 |  | Charges, Net of Reversals |  | Cash Payments |  | Non-cash Impairment |  | Foreign Currency Translation |  | Accrual at June 28, 2025
2025 Actions |  |  |  |  |  |  |  |  |  |  |
Severance and related costs | $ | 10.0 |  |  | $ | 12.6 |  |  | $ | (19.9) |  |  | $ | — |  |  | $ | — |  |  | $ | 2.7 |
Asset impairment charges | — |  |  | .2 |  |  | — |  |  | (.2) |  |  | — |  |  | — |
Lease cancellation charges | — |  |  | .1 |  |  | (.1) |  |  | — |  |  | — |  |  | — |
Total | $ | 10.0 |  |  | $ | 12.9 |  |  | $ | (20.0) |  |  | $ | (.2) |  |  | $ | — |  |  | $ | 2.7 |
Accruals for severance and related costs, as well as lease cancellation charges, were included in “Other current liabilities” and “Long-term retirement benefits and other liabilities” in the unaudited Condensed Consolidated Balance Sheets. Asset impairment charges were based on the estimated market value of the assets, less selling costs, if applicable. Restructuring charges were included in “Other expense (income), net” in the unaudited Condensed Consolidated Statements of Income. The table below shows the total amount of restructuring charges, net of reversals, incurred by reportable segment and Corporate.
| Three Months Ended |  | Six Months Ended
(In millions) | June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024
Restructuring charges, net of reversals, by reportable segment and Corporate |  |  |  |  |  |  |
Materials Group | $ | 2.5 |  |  | $ | 1.6 |  |  | $ | 5.0 |  |  | $ | 4.1 |
Solutions Group | 5.2 |  |  | 5.4 |  |  | 7.2 |  |  | 8.8 |
Corporate | .3 |  |  | .2 |  |  | .7 |  |  | .3 |
Total | $ | 8.0 |  |  | $ | 7.2 |  |  | $ | 12.9 |  |  | $ | 13.2 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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