v3.25.4

Restructuring and Other Related Charges

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Other Related Charges

NOTE 16. RESTRUCTURING AND OTHER RELATED CHARGES

Restructuring and other related charges for the years ended December 31 were as follows:

($ in millions)			2025						2024						2023
Employee severance related			$	8.8					$	9.6					$	19.0
Facility exit and other related			1.6						3.9						6.2
Total restructuring and other related charges			$	10.4					$	13.5					$	25.2

Substantially all restructuring activities initiated in 2025 were completed by December 31, 2025. We expect substantially all cash payments associated with remaining termination benefits recorded in 2025 will be paid during 2026. Substantially all restructuring activities initiated in the years ended December 31, 2024 and 2023 have been completed.

The nature of restructuring and related activities initiated in the years ended December 31, 2025, 2024 and 2023 focused on improvements in operational efficiency through targeted workforce reductions and facility consolidations and closures. These costs were incurred to optimize the Company’s cost structure in order to provide products and services to the Company’s customers in a cost efficient manner, taking into consideration industry and macroeconomic trends.

The table below summarizes the accrual balance and utilization by type of restructuring cost associated with our restructuring actions: 

($ in millions)			Balance as of December 31, 2023						Costs Incurred						Paid / Settled						Balance as of December 31, 2024						Costs Incurred						Paid / Settled						Balance as of December 31, 2025
Employee severance and related			$	2.8					$	9.6					$	(9.1)					$	3.3					$	8.8					$	(11.0)					$	1.1
Facility exit and other related			1.2						3.9						(4.9)						0.2						1.6						(1.8)						—
Total			$	4.0					$	13.5					$	(14.0)					$	3.5					$	10.4					$	(12.8)					$	1.1

The restructuring and other related charges incurred during the years ended December 31, 2025, 2024 and 2023 were primarily cash charges. These charges are reflected in the following captions in the accompanying Consolidated Statements of Earnings and Comprehensive Income for the years ended December 31:

($ in millions)			2025						2024						2023
Cost of sales			$	1.8					$	1.8					$	10.2
Selling, general and administrative expenses			8.6						11.7						15.0
Total			$	10.4					$	13.5					$	25.2

Restructuring and other related charges by reportable segment for the years ended December 31 were as follows:

($ in millions)			2025						2024						2023
Mobility Technologies			$	4.1					$	5.8					$	3.7
Repair Solutions			1.7						0.4						0.5
Environmental & Fueling Solutions			2.6						5.3						19.9
Corporate			2.0						2.0						1.1
Total			$	10.4					$	13.5					$	25.2

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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.

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