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Other Charges, Net (Tables) | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Schedule of components of other charges, net | The components of other charges, net were as follows (in millions):
|  | Three Months Ended March 31, |  |
|  | 2024 |  |  | 2023 |  |
Information technology transformation costs |  | $ | 0.8 |  |  | $ | 0.5 |  |
Restructuring charges |  |  | 3.5 |  |  |  | 0.3 |  |
Acquisition-related expenses, net |  |  | 4.1 |  |  |  | 2.9 |  |
Other |  |  | 2.5 |  |  |  | 1.6 |  |
Other charges, net |  | $ | 10.9 |  |  | $ | 5.3 |  |
Summary of restructuring charges | The following table sets forth the restructuring charges (in millions):
|  | Three Months Ended March 31, |  |
|  | 2024 |  |  | 2023 |  |
Cost of revenues |  | $ | 3.7 |  |  | $ | 0.2 |  |
Other charges, net |  |  | 3.5 |  |  |  | 0.3 |  |
Total |  | $ | 7.2 |  |  | $ | 0.5 |  |
Schedule of changes in restructuring reserves | The following table sets forth the changes in restructuring reserves (in millions):
|  | Total |  |  | Severance |  |  | Exit Costs |  |  | Provisions for Excess Inventory |
Balance at December 31, 2023 |  | $ | 13.1 |  |  | $ | 9.6 |  |  | $ | 2.9 |  |  | $ | 0.6 |
Restructuring charges |  |  | 7.2 |  |  |  | 3.0 |  |  |  | 1.4 |  |  |  | 2.8 |
Cash payments |  |  | (9.1 | ) |  |  | (7.2 | ) |  |  | (1.9 | ) |  |  | — |
Other, non-cash adjustments and foreign currency effect |  |  | (2.9 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | (2.8 | )
Balance at March 31, 2024 |  | $ | 8.3 |  |  | $ | 5.3 |  |  | $ | 2.4 |  |  | $ | 0.6 |
In October 2023, the Company announced a restructuring plan associated with BCA (formerly PhenomeX), a component of the NANO reportable segment, to optimize costs and to facilitate integration efforts. The restructuring plan includes a reduction in headcount, consolidation of leased facilities, and a planned change in future product offerings. The restructuring plan is expected to be completed during 2024. ﻿ In connection with the BCA restructuring plan, the Company recorded and accrued severance and termination charges of $14.9 million in the year ended December 31, 2023, and an additional charge of $3.9 million in the three months ended March 31, 2024. The company paid $9.8 million and $7.0 million of these charges in the three months ended December 31, 2023 and March 31, 2024, respectively. The unpaid severance charges noted above will be paid in 2024 and 2025. As it relates to the consolidation of leased facilities, the Company recorded an impairment charge against operating lease right of use assets of $3.2 million and $1.2 million in the three months ended December 31, 2023 and March 31, 2024, respectively. on termination of a facility. As of March 31, 2024, no other modification of operating leases connected to the restructuring plan had occurred. The Company is also likely to terminate additional leases as operations are consolidated and arrangements for early terminations with the landlord are reached. The Company does not expect termination payments to be significantly different from amounts recorded as outstanding lease liabilities as of March 31, 2024. Due to delays in consolidating facilities, certain inventories that are expiring or have expired will no longer be usable for the manufacture of products. The cost of these inventories was charged to product restructuring costs and scrapped in the three months ended March 31, 2024. ﻿ Certain other restructuring programs relating to in reductions in force recorded by the BSI NANO, BSI Biospin, BSI CALID and Corporate segments in 2024 were not material. In April 2024, the Company announced a global restructuring program to reduce personnel costs affecting the BBIO and CALID Segments. The Company expects to incur additional restructuring charges of $7.4 million for this program through the remainder of 2024.

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- 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 -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- 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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 + Details
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