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RESTRUCTURING, ASSET IMPAIRMENTS, AND OTHER CHARGES | 9 Months Ended
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Sep. 30, 2025
RESTRUCTURING, ASSET IMPAIRMENTS, AND OTHER CHARGES |
RESTRUCTURING, ASSET IMPAIRMENTS, AND OTHER CHARGES | NOTE 10. RESTRUCTURING, ASSET IMPAIRMENTS, AND OTHER CHARGES Details of restructuring, asset impairments, and other charges are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​
​ | ​ | 2025 | ​ | 2024 |  | 2025 | ​ | 2024 | ​
​ | ​ | (in millions) | ​
Restructuring |  | $ | — | ​ | $ | 27.7 | ​ | $ | 4.6 | ​ | $ | 27.8 | ​
Asset impairments | ​ | ​ | 0.2 | ​ | ​ | — | ​ | ​ | 1.8 | ​ | ​ | — | ​
Other charges | ​ | ​ | 0.5 | ​ | ​ | 0.8 | ​ | ​ | 2.5 | ​ | ​ | 1.5 | ​
Total restructuring, asset impairments, and other charges | ​ | $ | 0.7 |  | $ | 28.5 |  | $ | 8.9 |  | $ | 29.3 | ​
​ Restructuring We have the following restructuring plans in process. The amounts incurred as a result of the approved actions are estimates, and actual results may differ, which could result in incremental restructuring charges in future periods. 2025 Plan During the second quarter of 2025, we approved actions related to consolidating our research and development, sales, and administrative functions in connection with our manufacturing and footprint consolidation (the “2025 Plan”). We expect these actions to be substantially complete during 2027 and do not expect to incur significant additional charges. 2024 Plan In 2024, we approved actions in furtherance of our manufacturing consolidation initiatives intended to optimize our manufacturing footprint and cost structure, including the closure of our Zhongshan, China manufacturing facility (the “2024 Plan”). Manufacturing operations in Zhongshan ceased during the second quarter of 2025. Final closure activities are in progress and expected to conclude in 2026. We do not expect to incur significant additional charges. 2023 Plan In 2023, we approved a plan intended to optimize and further consolidate our manufacturing operations and functional support groups as well as a general reduction-in-force to align our expenses to revenue levels (the “2023 Plan”). We expect final activities to conclude in the first quarter of 2027 and do not expect to incur significant additional charges. Changes in restructuring liabilities were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2025 Plan |  | 2024 Plan |  | 2023 Plan |  | Total
​ | ​ | (in millions)
December 31, 2024 | ​ | $ | — | ​ | $ | 25.0 | ​ | $ | 5.0 | ​ | $ | 30.0
Severance costs incurred and charged to expense | ​ | ​ | 2.9 | ​ | ​ | 1.1 | ​ | ​ | 0.6 | ​ | ​ | 4.6
Costs paid | ​ | ​ | (0.1) | ​ | ​ | (17.3) | ​ | ​ | (2.0) | ​ | ​ | (19.4)
Foreign currency translation | ​ | ​ | — | ​ | ​ | (0.1) | ​ | ​ | (0.1) | ​ | ​ | (0.2)
September 30, 2025 | ​ | $ | 2.8 | ​ | $ | 8.7 | ​ | $ | 3.5 | ​ | $ | 15.0
​ The above restructuring liability of $15.0 million is comprised of $9.2 million in other accrued expenses and $5.8 million in other long-term liabilities on our Consolidated Balance Sheets. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Cumulative Cost Through
​ | ​ | September 30, 2025
​ |  | 2025 Plan |  | 2024 Plan |  | 2023 Plan |  | Total
​ | ​ | (in millions)
Severance and related charges |  | $ | 2.9 | ​ | $ | 30.7 | ​ | $ | 16.0 | ​ | $ | 49.6
Facility relocation and closure charges | ​ | ​ | — | ​ | ​ | 0.1 | ​ | ​ | — | ​ | ​ | 0.1
Total restructuring charges | ​ | $ | 2.9 | ​ | $ | 30.8 | ​ | $ | 16.0 | ​ | $ | 49.7
​ Asset Impairments During 2025, we recorded $1.8 million of impairment charges in connection with vacating facilities. Other Charges Other charges relate to vacating and relocating facilities as well as certain personnel transition costs not associated with our restructuring programs.

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- Definition The entire 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 No definition available. + Details
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