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Restructuring Activities | 9 Months Ended
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Dec. 31, 2024
Restructuring Activities |
Restructuring Activities | Note 7: Restructuring Activities During the first nine months of fiscal 2025, restructuring and repositioning expenses primarily consisted of severance expenses, the majority of which were recorded in the Performance Technologies segment. The Performance Technologies severance charges were primarily recorded in Europe and North America and include severance related to the closure of a European technical service center and other targeted headcount reductions intended to reduce selling, general and administrative (“SG&A”) and operational expenses. In addition, as part of its transformational initiatives supported by 80/20 principles, the Company is taking steps to optimize the efficiency of its supply chain and manufacturing processes in order to improve profit margins in the Climate Solutions and Performance Technologies segments. These restructuring activities have included transferring the production and warehousing for certain product lines among its facilities. During the first nine months of fiscal 2024, restructuring and repositioning expenses primarily consisted of equipment transfer costs and severance expenses in the Climate Solutions and Performance Technologies segments. Restructuring and repositioning expenses were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended December 31, |  | Nine months ended December 31,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Employee severance and related benefits | ​ | $ | 7.3 | ​ | $ | 0.7 | ​ | $ | 15.3 | ​ | $ | 0.8
Other restructuring and repositioning expenses | ​ |  | 1.0 | ​ |  | 0.9 | ​ |  | 2.9 | ​ |  | 1.3
Total | ​ | $ | 8.3 | ​ | $ | 1.6 | ​ | $ | 18.2 | ​ | $ | 2.1
​ ​ Other restructuring and repositioning expenses primarily consist of costs related to product line transfers. The Company accrues severance in accordance with its written plans, procedures, and relevant statutory requirements. Changes in accrued severance were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended December 31,
​ |  | 2024 |  | 2023
Beginning balance | ​ | $ | 7.9 | ​ | $ | 3.2
Additions (a) | ​ |  | 5.9 | ​ |  | 0.7
Payments | ​ |  | (7.5) | ​ |  | (1.0)
Effect of exchange rate changes | ​ |  | (0.4) | ​ |  | 0.1
Ending balance | ​ | $ | 5.9 | ​ | $ | 3.0
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine months ended December 31,
​ |  | 2024 |  | 2023
Beginning balance | ​ | $ | 13.0 | ​ | $ | 10.6
Additions (a) | ​ |  | 13.9 | ​ |  | 0.8
Payments | ​ |  | (20.8) | ​ |  | (5.9)
Disposition of businesses (b) | ​ | ​ | — | ​ | ​ | (2.5)
Effect of exchange rate changes | ​ |  | (0.2) | ​ |  | —
Ending balance | ​ | $ | 5.9 | ​ | $ | 3.0
____ | ​ | ​ | ​ | ​ | ​ | ​
​
(a) | The fiscal 2025 amounts exclude $1.4 million of non-cash severance expense resulting from the accelerated vesting of certain stock-based compensation awards in connection with restructuring actions.
(b) | The Company sold three automotive businesses based in Germany during the third quarter of fiscal 2024. Prior to the sale, the Company reclassified the severance liability related to these businesses as held for sale. See Note 2 for additional information regarding the sale.

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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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