Restructuring and Other Charges, Net

3 Months Ended

Sep. 30, 2025

In January 2025, we announced several actions to support the long-term competitiveness of the Company and to mitigate softer market conditions. Total restructuring and related charges for this program of $15.6 million, compared to a target of approximately $25 million, were recorded through September 30, 2025, consisting of $13.0 million in Metal Cutting and $2.6 million in Infrastructure. The Company substantially completed the closure of a facility in Greenfield, MA and the consolidation of facilities in Barcelona, Spain during 2025 as a part of these actions.

We recorded restructuring and related charges of $3.2 million for the three months ended September 30, 2025, which consisted of $3.3 million in Metal Cutting and a reversal of $0.1 million in Infrastructure. Included in this amount was restructuring related charges of $1.6 million included in cost of goods sold.

We recorded restructuring and related charges of $0.6 million for the three months ended September 30, 2024, which consisted of $0.6 million in Metal Cutting and an immaterial amount in Infrastructure.

As of September 30, 2025, $8.6 million and $2.2 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2025, $11.0 million and $2.4 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows:


(in thousands)	June 30, 2025		Expense		Asset Write-Down		Translation		Cash Expenditures		September 30, 2025
Severance	$	13,394	$	924	$	—	$	15	$	(3,501)	$	10,832
Facilities	—		665		(665)		—		—		—

Total	$	13,394	$	1,589	$	(665)	$	15	$	(3,501)	$	10,832