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RESTRUCTURING INITIATIVES | 9 Months Ended
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Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
RESTRUCTURING INITIATIVES | RESTRUCTURING INITIATIVES For the three and nine months ended September 30, 2025, we recognized $2.2 million and $5.8 million, respectively, of restructuring costs related to our initiatives to better leverage our fixed cost base through growth and cost reduction measures. For the three and nine months ended September 30, 2024, we recognized $3.9 million and $9.7 million of restructuring costs related to these initiatives, respectively. The cumulative expense incurred as of September 30, 2025 was $70.5 million. As of September 30, 2025, we have recorded the following activity associated with our optimization initiatives:
| Beginning Reserve at December 31, 2024 |  | Net Charges for the Nine Months Ended September 30, 2025 |  | Cash Paid |  | Interest and FX Impact |  | Ending Reserve at September 30, 2025
Employee severance | $ | 9,161 |  |  | $ | 1,398 |  |  | $ | (4,594) |  |  | $ | 693 |  |  | $ | 6,658 |
Professional fees and other costs | 796 |  |  | 4,391 |  |  | (4,690) |  |  | 7 |  |  | 504 |
Totals | $ | 9,957 |  |  | $ | 5,789 |  |  | $ | (9,284) |  |  | $ | 700 |  |  | $ | 7,162 |
As of September 30, 2024, we have recorded the following activity associated with our optimization initiatives:
| Beginning Reserve at December 31, 2023 |  | Net Charges for the Nine Months Ended September 30, 2024 |  | Cash Paid |  | Interest and FX Impact |  | Ending Reserve at September 30, 2024
Employee severance | $ | 27,078 |  |  | $ | 6,003 |  |  | $ | (15,321) |  |  | $ | 38 |  |  | $ | 17,798 |
Professional fees and other costs | 2,810 |  |  | 3,673 |  |  | (3,560) |  |  | 36 |  |  | 2,959 |
Totals | $ | 29,888 |  |  | $ | 9,676 |  |  | $ | (18,881) |  |  | $ | 74 |  |  | $ | 20,757 |
During the three months ended September 30, 2024, pension curtailment accounting was triggered as a result of restructuring in one of our entities in Europe. The remeasurement of the pension obligations resulted in a decrease of $1.9 million. The curtailment gain is included in the line miscellaneous income (expense), net in the Condensed Consolidated Statements of Income.

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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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