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RESTRUCTURING CHARGES

3 Months Ended

Jan. 31, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the three months ended January 31, 2025:

(in millions)			Employee Separation Costs						Other Costs						Total
Balance at October 31, 2024			$	4.8					$	0.1					$	4.9
Costs incurred and charged to expense			2.0						0.7						2.7
Costs paid or otherwise settled			(2.2)						(0.5)						(2.7)
Balance at January 31, 2025			$	4.6					$	0.3					$	4.9

The focus for restructuring activities in 2025 is to optimize operations to manage a historical period of industrial activity contraction while simultaneously transforming the Company’s internal processes and portfolio mix for optimal alignment to long-term profitable earnings growth.

During the three months ended January 31, 2025, the Company recorded restructuring charges of $2.7 million, as compared to $5.7 million of restructuring charges recorded during the three months ended January 31, 2024. The restructuring activity for the three months ended January 31, 2025 consisted of $2.0 million in employee separation costs and $0.7 million in other restructuring costs, primarily consisting of professional fees and other fees associated with restructuring activities.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-Q. Remaining amounts expected to be incurred were $33.3 million as of January 31, 2025:

(in millions)			Total Amounts Expected to be Incurred						Amounts Incurred During the Three Months Ended January 31, 2025						Amounts Remaining to be Incurred
Customized Polymer Solutions
Employee separation costs			$	0.7					$	0.4					$	0.3
Other restructuring costs			0.4						0.1						0.3
			1.1						0.5						0.6
Durable Metal Solutions
Employee separation costs			2.5						0.4						$	2.1
Other restructuring costs			0.8						0.1						0.7
			3.3						0.5						2.8
Sustainable Fiber Solutions
Employee separation costs			8.3						1.1						$	7.2
Other restructuring costs			21.7						0.5						21.2
			30.0						1.6						28.4
Integrated Solutions
Employee separation costs			0.3						0.1						0.2
Other restructuring costs			1.3						—						1.3
			1.6						0.1						1.5
			$	36.0					$	2.7					$	33.3

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- References

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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
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-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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