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Restructuring Activities

6 Months Ended

Sep. 30, 2025

Restructuring Activities

Restructuring Activities

Note 7: Restructuring Activities

Restructuring and repositioning expenses were as follows:

​

​	​	​	​	​	​	​	​	​	​	​	​	​
​		Three months ended September 30,						Six months ended September 30,
​		2025			2024			2025			2024
Employee severance and related benefits	​	$	2.0	​	$	3.2	​	$	6.5	​	$	8.0
Other restructuring and repositioning expenses	​		1.1	​		1.3	​		1.4	​		1.9
Total	​	$	3.1	​	$	4.5	​	$	7.9	​	$	9.9

​

​

During the first six months of fiscal 2026, restructuring and repositioning expenses primarily consisted of severance expenses. The severance charges were primarily recorded in Europe and North America and include severance related to 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 six months of fiscal 2025, restructuring and repositioning expenses primarily consisted of severance expenses recorded in the Performance Technologies segment. These severance charges were primarily recorded in Europe and include severance related to the closure of a technical service center and other targeted headcount reductions. In addition, the Company incurred equipment transfer costs within the Climate Solutions and Performance Technologies segments.

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 September 30,
​		2025			2024
Beginning balance	​	$	8.1	​	$	8.6
Additions	​		2.0	​		3.2
Payments	​		(3.7)	​		(4.1)
Effect of exchange rate changes	​		—	​		0.2
Ending balance	​	$	6.4	​	$	7.9
​	​	​	​	​	​	​
​		Six months ended September 30,
​		2025			2024
Beginning balance	​	$	6.6	​	$	13.0
Additions	​		6.5	​		8.0
Payments	​		(7.0)	​		(13.3)
Effect of exchange rate changes	​		0.3	​		0.2
Ending balance	​	$	6.4	​	$	7.9
​	​	​	​	​	​	​

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- References

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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

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