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RESTRUCTURING CHARGES | 6 Months Ended
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Mar. 31, 2026
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES The following is a reconciliation of the beginning and ending restructuring reserve balances for the six months ended March 31, 2026:
(in millions) | Employee Separation Costs |  | Other Costs |  | Total
Balance at September 30, 2025 | $ | 21.3 |  |  | $ | 0.4 |  |  | $ | 21.7 |
Costs incurred and charged to expense | 12.3 |  |  | 6.7 |  |  | 19.0 |
Costs paid or otherwise settled | (16.7) |  |  | (6.9) |  |  | (23.6) |
Balance at March 31, 2026 | $ | 16.9 |  |  | $ | 0.2 |  |  | $ | 17.1 |
The focus for restructuring activities in 2026 is to continue optimizing 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 March 31, 2026, the Company recorded restructuring charges of $10.8 million, as compared to $9.1 million of restructuring charges recorded during the three months ended March 31, 2025. The restructuring activity for the three months ended March 31, 2026 consisted of $7.8 million in employee separation costs and $3.0 million in other restructuring costs, primarily consisting of costs associated with site closures, professional fees and other fees associated with restructuring activities. During the six months ended March 31, 2026, the Company recorded restructuring charges of $19.0 million, as compared to $12.4 million of restructuring charges recorded during the six months ended March 31, 2025. The restructuring activity for the six months ended March 31, 2026 consisted of $12.3 million in employee separation costs and $6.7 million in other restructuring costs, primarily consisting of costs associated with site closures, 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 $25.6 million as of March 31, 2026:
(in millions) | Total Amounts Expected to be Incurred |  | Amounts Incurred During the Six Months Ended March 31, 2026 |  | Amounts Remaining to be Incurred
Customized Polymer Solutions |  |  |  |  |
Employee separation costs | $ | 2.5 |  |  | $ | 2.0 |  |  | $ | 0.5 |
Other restructuring costs | 0.8 |  |  | 0.8 |  |  | — |
| 3.3 |  |  | 2.8 |  |  | 0.5 |
Durable Metal Solutions |  |  |  |  |
Employee separation costs | 5.5 |  |  | 3.5 |  |  | 2.0 |
Other restructuring costs | 7.3 |  |  | 1.6 |  |  | 5.7 |
| 12.8 |  |  | 5.1 |  |  | 7.7 |
Sustainable Fiber Solutions |  |  |  |  |
Employee separation costs | 8.2 |  |  | 6.7 |  |  | 1.5 |
Other restructuring costs | 19.9 |  |  | 4.3 |  |  | 15.6 |
| 28.1 |  |  | 11.0 |  |  | 17.1 |
Innovative Closure Solutions |  |  |  |  |
Employee separation costs | 0.4 |  |  | 0.1 |  |  | 0.3 |
Other restructuring costs | — |  |  | — |  |  | — |
| 0.4 |  |  | 0.1 |  |  | 0.3 |
| $ | 44.6 |  |  | $ | 19.0 |  |  | $ | 25.6 |

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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 + Details
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