XML 43 R33.htm IDEA: XBRL DOCUMENT v3.25.2

Restructuring and restructuring-related expenses (Tables)

6 Months Ended

Jun. 28, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs

Overall costs associated with our restructuring and other restructuring-related initiatives have been recognized in the condensed consolidated statements as set forth below. Expenses incurred in relation to certain of these actions qualify as restructuring expenses under U.S. GAAP.

			Three months ended												Six months ended
(dollars in millions)			June 28, 2025						June 29, 2024						June 28, 2025						June 29, 2024
Restructuring expenses:
—Severance expense (income)			$	4.0					$	0.1					$	4.1					$	(0.5)
—Non-severance labor and benefit expenses			8.9						0.1						8.9						0.1
—Professional service fees			—						0.5						1.3						1.5
—Other net restructuring expenses			0.1						0.9						0.3						1.7
Total restructuring expenses			13.0						1.6						14.6						2.8
—Asset impairments related to restructuring			0.2						—						0.8						—
Total restructuring expenses and asset impairments			$	13.2					$	1.6					$	15.4					$	2.8
Other restructuring-related expenses:
—Severance and restructuring-related expenses included in cost of sales			1.2						—						2.4						—
—Severance and restructuring-related expenses included in SG&A			3.1						—						4.6						0.1
Total restructuring-related expenses			$	4.3					$	—					$	7.0					$	0.1

Analyzed by segment, our restructuring expenses and restructuring-related asset impairments were as follows:

			Three months ended												Six months ended
(dollars in millions)			June 28, 2025						June 29, 2024						June 28, 2025						June 29, 2024
Power Transmission			$	8.8					$	0.5					$	10.0					$	0.8
Fluid Power			4.4						1.1						5.4						2.0
Total restructuring expenses and asset impairments			$	13.2					$	1.6					$	15.4					$	2.8

Schedule of Restructuring Reserves Activity

The following summarizes the reserve for restructuring expenses for the six months ended June 28, 2025 and June 29, 2024, respectively:

			Six months ended
(dollars in millions)			June 28, 2025						June 29, 2024
Balance as of the beginning of the period			$	2.8					$	5.1
Utilized during the period			(4.3)						(5.4)
Charge for the period			14.7						3.5
Released during the period			(0.1)						(0.7)
Foreign currency translation			0.8						(0.1)
Balance as of the end of the period			$	13.9					$	2.4

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration