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Restructuring | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring The Company incurs costs associated with restructuring initiatives intended to improve operating performance, profitability, and working capital levels. Actions associated with these initiatives may include improving productivity, workforce reductions, and the consolidation of facilities. As of December 31, 2023, the Company does not expect a significant impact of additional charges from restructuring actions in the next 12 months. The Company’s restructuring expenses are comprised of the following (in millions):
Successor
| Year Ended December 31, 2023
| Cost of revenue |  | Selling, general and administrative |  | Total
Severance and employee costs | $ | 0.1 |  |  | $ | 1.1 |  |  | $ | 1.2 |
Other(1) | — |  |  | 0.4 |  |  | 0.4 |
Total | $ | 0.1 |  |  | $ | 1.5 |  |  | $ | 1.6 |
| Year Ended December 31, 2022
(in millions) | Cost of revenue |  | Selling, general and administrative |  | Total
Severance and employee costs | $ | 0.3 |  |  | $ | 1.5 |  |  | $ | 1.8 |
Other(1) | 0.5 |  |  | 3.7 |  |  | 4.2 |
Total | $ | 0.8 |  |  | $ | 5.2 |  |  | $ | 6.0 |
| From October 20, 2021 through December, 31, 2021
(in millions) | Cost of revenues |  | Selling, general and administrative |  | Total
Severance and employee costs | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.2 |
Other(1) | — |  |  | 1.2 |  |  | 1.2 |
Total | $ | 0.1 |  |  | $ | 1.3 |  |  | $ | 1.4 |
Predecessor
| From July 1, 2021 through October 19, 2021
(in millions) | Cost of revenues |  | Selling, general and administrative |  | Total
Severance and employee costs | $ | — |  |  | $ | 1.1 |  |  | $ | 1.1 |
Other(1) | 0.1 |  |  | 0.3 |  |  | 0.4 |
Total | $ | 0.1 |  |  | $ | 1.4 |  |  | $ | 1.5 |
| For the year ended June 30, 2021
(in millions) | Cost of revenues |  | Selling, general and administrative |  | Total
Severance and employee costs | $ | 2.4 |  |  | $ | 1.6 |  |  | $ | 4.0 |
Other(1) | 0.7 |  |  | 0.8 |  |  | 1.5 |
Total | $ | 3.1 |  |  | $ | 2.4 |  |  | $ | 5.5 |
(1) Includes facilities, inventory write-downs, outside services, legal matters, and IT costs. The following table summarizes restructuring expenses for each reportable segment (in millions):
| Successor |  |  | Predecessor
| Fiscal Year Ended December 31, 2023 |  | Fiscal Year Ended December 31, 2022 |  | From October 20, 2021 through December 31, 2021 |  |  | From July 1, 2021 through October 19, 2021 |  | Fiscal Year Ended June 30, 2021
Restructuring expenses: |  |  |  |  |  |  |  |  |  |
Medical | $ | 0.3 |  |  | $ | 3.4 |  |  | $ | 0.8 |  |  |  | $ | 1.4 |  |  | $ | 2.1 |
Technologies | 0.2 |  |  | 1.8 |  |  | 0.6 |  |  |  | 0.1 |  |  | 2.7 |
Corporate and other | 1.1 |  |  | 0.8 |  |  | — |  |  |  | — |  |  | 0.7 |
Total | $ | 1.6 |  |  | $ | 6.0 |  |  | $ | 1.4 |  |  |  | $ | 1.5 |  |  | $ | 5.5 |
The following table summarizes the changes in the Company’s accrued restructuring balance, which are included in Accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets (in millions).
Balance at December 31, 2022 | $ | 1.5 |
Restructuring charges | 1.6 |
Payments | (3.0) |
Adjustments | (0.1) |
Balance at December 31, 2023 | $ | — |

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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 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: 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 Reference 5: 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 + Details
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