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Restructuring and Other Charges (Income) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Other Charges (Income) | Restructuring and Other Charges (Income) Our restructuring and other charges (income) are comprised of restructuring, asset disposals and other charges (income) as noted below.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in Millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Restructuring charges | $ | 13.0 |  |  | $ | 83.8 |  |  | $ | 26.6 |  |  | $ | 117.5 |
Other charges (income), net | 23.7 |  |  | 11.3 |  |  | 27.9 |  |  | 18.5 |
Total restructuring and other charges (income) | $ | 36.7 |  |  | $ | 95.1 |  |  | $ | 54.5 |  |  | $ | 136.0 |
Restructuring charges For detail on restructuring activities that commenced prior to 2025, see Note 7 to our consolidated financial statements included within our 2024 Form 10-K.
| Restructuring Charges
(in Millions) | Severance and Employee Benefits |  | Other Charges (Income) (1) |  | Asset Disposal Charges (Income) (2) |  | Total
Project Focus | $ | 5.4 |  |  | $ | 4.9 |  |  | $ | 2.5 |  |  | $ | 12.8 |
Other items | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Three Months Ended June 30, 2025 | $ | 5.4 |  |  | $ | 5.1 |  |  | $ | 2.5 |  |  | $ | 13.0 |
Project Focus | 18.6 |  |  | 6.5 |  |  | 59.2 |  |  | 84.3 |
Other items | — |  |  | (0.5) |  |  | — |  |  | (0.5) |
Three Months Ended June 30, 2024 | $ | 18.6 |  |  | $ | 6.0 |  |  | $ | 59.2 |  |  | $ | 83.8 |
Project Focus | $ | 9.6 |  |  | $ | 11.5 |  |  | $ | 5.6 |  |  | $ | 26.7 |
Other items | (0.4) |  |  | 0.3 |  |  | — |  |  | (0.1) |
Six Months Ended June 30, 2025 | $ | 9.2 |  |  | $ | 11.8 |  |  | $ | 5.6 |  |  | $ | 26.6 |
Project Focus | $ | 37.5 |  |  | $ | 18.7 |  |  | $ | 61.5 |  |  | $ | 117.7 |
Other items | — |  |  | (0.2) |  |  | — |  |  | (0.2) |
Six Months Ended June 30, 2024 | $ | 37.5 |  |  | $ | 18.5 |  |  | $ | 61.5 |  |  | $ | 117.5 |
____________________ (1)Primarily represents other charges associated with restructuring activities, including third-party costs. Other income, if applicable, primarily represents favorable developments on previously recorded exit costs and recoveries associated with restructuring. (2)Primarily represents asset write-offs (recoveries) and accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred, the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns, are also included within the asset disposal charges. Project Focus We previously implemented a global restructuring plan, referred to as "Project Focus," designed to right-size our cost base and optimize our footprint and organizational structure in light of the precipitous drop in demand across the crop protection market in 2023. During the six months ended June 30, 2025, charges incurred related to Project Focus include $9.6 million of severance and employee separation costs, $11.5 million of professional service provider costs and other miscellaneous charges associated with the project, and accelerated depreciation of $5.6 million on assets identified for disposal in connection with the restructuring initiative. The charges incurred during the six months ended June 30, 2025 are included in the total estimated range for Project Focus. See Note 7 to our consolidated financial statements in our 2024 Form 10-K for details of the costs previously incurred for Project Focus. The remaining amounts will be reflected in our consolidated results of operations as they become probable and estimable or a triggering event is identified in accordance with the relevant accounting guidance. Roll forward of restructuring reserves The following table shows a roll forward of restructuring reserves that will result in cash spending. These amounts exclude accelerated depreciation on fixed assets, asset impairment charges and asset retirement obligations.
(in Millions) | Balance at December 31, 2024 (6) |  | Change in reserves (4) |  | Cash payments |  |  |  | Balance at June 30, 2025 (5)
Project Focus (1) | $ | 146.9 |  |  | $ | 21.0 |  |  | $ | (70.6) |  |  |  |  | $ | 97.3 |
DuPont Crop restructuring (2) | 3.0 |  |  | — |  |  | 0.2 |  |  |  |  | 3.2 |
Other workforce related and facility shutdowns (3) | 1.2 |  |  | — |  |  | (0.5) |  |  |  |  | 0.7 |
Total | $ | 151.1 |  |  | $ | 21.0 |  |  | $ | (70.9) |  |  |  |  | $ | 101.2 |
____________________ (1)Relates to the global restructuring plan initiated in 2023. The reserve consists primarily of contract abandonment charges recorded during 2024 resulting from the reorganization of our supply chain footprint. (2)Represents remaining cash spending on facility separation costs associated with DuPont Crop restructuring activities. (3)Includes exit costs related to workforce reductions and facility shutdowns on previously implemented restructuring initiatives. (4)Primarily consists of severance and employee separation costs and third-party provider fees. (5)Included in "Accrued and other liabilities" and "Other long-term liabilities" on the consolidated balance sheets. Other charges (income), net
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in Millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Environmental charges, net | $ | 7.4 |  |  | $ | 5.7 |  |  | $ | 10.9 |  |  | $ | 9.0 |
Furadan ® product exit | 11.9 |  |  | — |  |  | 11.9 |  |  | — |
Other items, net | 4.4 |  |  | 5.6 |  |  | 5.1 |  |  | 9.5 |
Other charges (income), net | $ | 23.7 |  |  | $ | 11.3 |  |  | $ | 27.9 |  |  | $ | 18.5 |
Environmental charges, net Environmental charges represent the net charges associated with environmental remediation at continuing operating sites. See Note 11 for additional details. Environmental obligations for continuing operations primarily represent obligations at shut down or abandoned facilities within businesses that do not meet the criteria for presentation as discontinued operations. Furadan ® product exit During the three months ended June 30, 2025, we recorded a charge of $11.9 million due to changes in our estimate for Furadan® disposal costs at our Middleport site.

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- Definition This describes the aggregate amount provided for estimated restructuring charges, remediation costs, gains on sale of assets, in process research and development acquired as part of an asset acquisition, asset impairment losses and other miscellaneous charges to income during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items). + References No definition available. + Details
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