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Restructuring Charges

6 Months Ended

Jun. 30, 2025

Restructuring Charges.

Restructuring Charges

12. Restructuring Charges

​

During the second quarter of 2025, management approved and initiated a plan to exit certain facilities that were no longer deemed economical for our business, and in the second quarter of 2025, we incurred $0.1 million of costs to exit these facilities. The property disposal costs incurred under the above restructuring plan were recorded to restructuring charges in our condensed consolidated statements of operations. We expect to incur additional restructuring charges of $1.0 million to $2.0 million over the next twelve months related to these restructuring activities.

​

During the first quarter of 2025, management approved and executed a plan to exit a facility no longer deemed economical for our business, and in the first quarter of 2025, we incurred $0.7 million of costs to exit this facility. The severance and property disposal costs incurred under the above restructuring plan were recorded to restructuring charges in our condensed consolidated statements of operations. We do not expect to incur additional restructuring charges related to these restructuring activities.

​

The following table presents restructuring charges incurred by segment during the three and six months ended June 30, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Contract

​

Aftermarket

​

​

​

​

​

​

(in thousands)

​

Operations

​

Services

​

Other(1)

​

Total

Three months ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Facility closure

​

$

—

​

$

—

​

$

144

​

$

144

Total restructuring charges

​

$

—

​

$

—

​

$

144

​

$

144

​

​

​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Facility closure

​

$

520

​

$

—

​

$

289

​

$

809

Total restructuring charges

​

$

520

​

$

—

​

$

289

​

$

809

(1) Represents expense incurred within our corporate function and not directly attributable to our segments.

The following table presents restructuring charges incurred by cost type:

​

​	​	​	​	​	​	​
​	​	Three months ended		​	Six months ended
(in thousands)	​	June 30, 2025			June 30, 2025
Facility closure	​	​	​	​	​	​
Severance costs	​	$	—	​	$	596
Property disposal costs	​	​	144	​	​	213
Total restructuring costs	​	$	144	​	$	809

​

X

- References

No definition available.

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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 S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/420/tableOfContent

Reference 5: 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

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