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Discontinued Operations And Assets Ands Liabilities Held For Sale | 3 Months Ended
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Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations And Assets Ands Liabilities Held For Sale | RESTRUCTURING AND LOSS (GAIN) ON DISPOSAL OF ASSETS AND COSTS FROM EXIT AND DISPOSAL ACTIVITIES In fiscal 2026, the Company undertook certain restructuring and realignment activities (the “2026 Restructuring Plan”) to optimize the Company’s production, recycling and distribution network and to plan and implement go-to-market and operating model enhancements to scale for future growth, including the integration of NDS. Under the 2026 Restructuring Plan, for the three months ended June 30, 2026 and 2025, the Company recorded expense of $5.3 million and $8.8 million, respectively, related to the optimization of the Company’s production, recycling and distribution networks, including the closure of four facilities and changes to the Company’s production footprint. The Company does not currently have an estimate of additional costs or an expected end date for the restructuring actions. The following table summarizes the activities included in Restructuring and realignment expense during the periods presented.
| Three Months Ended June 30, |  |
(Amounts in thousands) | 2026 |  | 2025 |  |  |  |
Loss (gain) on disposal of assets and costs from exit and disposal activities:
Accelerated depreciation | $ | — |  |  | $ | 1,764 |  |  |  |  |
Severance | 2,145 |  |  | 2,004 |  |  |  |  |
Impairment of right-of-use assets | — |  |  | 1,267 |  |  |  |  |
Other exit and disposal costs | 17 |  |  | 791 |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |
Realignment expenses | 3,174 |  |  | 2,969 |  |  |  |  |
Total 2026 Restructuring Plan activities | $ | 5,336 |  |  | 8,795 |  |  |  |  |
The costs incurred under the 2026 Restructuring Plan to date are classified as operating expenses and not allocated to a segment. During the three months ended June 30, 2026 and 2025, the Company recorded accelerated depreciation, severance costs, impairment of right-of-use lease assets and other exit and disposal costs. Other exit and disposal activities include legal and professional fees, inventory and equipment transfer costs and other costs. The following table summarizes the restructuring liability for the periods presented:
(In thousands) | 2026 |  | 2025 |  |
Accrual balance at April 1 | $ | 1,201 |  |  | $ | — |  |  |
Costs incurred | 5,336 |  |  | 8,795 |  |  |
Non-cash charges | — |  |  | (3,031) |  |  |
Expenses paid | (5,053) |  |  | (4,875) |  |  |
Accrual balance at end of period | $ | 1,484 |  |  | $ | 889 |  |  |
The restructuring liability is recorded in Other accrued liabilities in the Company’s Condensed Consolidated Balance Sheet. DISCONTINUED OPERATIONS AND ASSETS AND LIABILITIES HELD FOR SALE The Company determined Teco S.r.l., Kimplas Piping Systems Private Limited, Kimplas Limited, Teco Irrigation USA, Inc. and Fish Water Products Sdn. Bhd. (collectively, the “NDS International Entities”) met the held for sale criteria upon acquisition. As a result, the assets and liabilities of the NDS International Entities have been classified held for sale and are reported as assets held for sale and liabilities held for sale on the Consolidated Balance Sheet. The results of the NDS International Entities have been accounted for as discontinued operations and are reported as income or loss from discontinued operations, net of tax, on the Consolidated Statements of Operations. In addition to the NDS International Entities, one property is included as held for sale. The Company measured the net assets of the disposal group at fair value less costs to sell. Costs to sell represent incremental direct costs expected to be incurred in connection with the disposal. Fair value was determined based on the valuation techniques noted in “Note 4. Acquisitions” in the Company’s Fiscal 2026 Form 10-K. The assets and liabilities classified as held for sale on the Company’s Consolidated Balance Sheet as of June 30, 2026 and March 31, 2026, include the following:
(Amounts in thousands) | June 30, 2026 |  | March 31, 2026
Cash | $ | 8,478 |  |  | $ | 9,184 |
Accounts receivable | 5,150 |  |  | 6,957 |
Inventory | 4,458 |  |  | 6,848 |
Other current assets | 832 |  |  | 1,284 |
Property, plant and equipment | 19,109 |  |  | 18,645 |
Other assets | 507 |  |  | 533 |
Total assets held-for-sale | $ | 38,534 |  |  | $ | 43,451 |
Current maturities of debt obligations | $ | — |  |  | $ | 562 |
Accounts payable | 3,069 |  |  | 2,776 |
Accrued expenses | 7,381 |  |  | 8,669 |
Other liabilities | 1,904 |  |  | 3,132 |
Total liabilities held-for-sale | $ | 12,354 |  |  | $ | 15,139 |
The following table summarizes the major classes of items constituting the results from discontinued operations presented in the Condensed Consolidated Statement of Operations for the three months ended June 30, 2026:
(Amounts in thousands) | Three Months Ended June 30, 2026
Net sales | $ | 7,215 |
Cost of goods sold | 5,981 |
Gross profit | 1,234 |
Selling, general and administrative | 2,517 |
Loss on disposal of assets and costs from exit and disposal activities | 4,370 |
Net loss from discontinued operations | $ | (5,653) |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent + Details
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