In February 2026, as part of the Company's Project Catalyst, a comprehensive operational and efficiency plan, the Company’s Board of Directors approved plans to shut down the Company’s Fieldsboro, New Jersey site and decommission select assets at its Elwood, Illinois (Millsdale) and Stalybridge, U.K. facilities during the first half of 2026. The Company is mostly consolidating the impacted operations into its existing network, improving its asset utilization and reducing its fixed cost basis, while maintaining ongoing supply for its customers. Total pre-tax business restructuring expenses related to the asset shutdowns for the second quarter of 2026 and the first six months of 2026 were $5,106,000 and $70,545,000, respectively. Restructuring costs in the first half of 2026 included $61,309,000 of asset impairment charges. The Fieldsboro, New Jersey site, Elwood, Illinois (Millsdale) site and Stalybridge, U.K site recognized $42,109,000, $14,332,000 and $4,868,000, respectively, in asset impairment charges. During the first six months of 2026, the Company also recognized $7,509,000 and $1,727,000 of decommissioning/other and termination expenses, respectively.

Although all restructuring charges related to the Surfactants segment, they were excluded from the Surfactants segment results and are shown on a separate Business restructuring line item in the Condensed Consolidated Statements of Income for the three and six months ended June 30, 2026 and 2025. Below is a reconciliation of the beginning and ending balances of the restructuring liability:


(In thousands)	Decommissioning and Other Charges			Termination Benefits			Total
Restructuring liability at January 1, 2026	$	—		$	—		$	—
Expenses accrued during the period		1,405			815			2,220
Amounts paid		—			—			—
Foreign currency translation		—			—			—
Restructuring liability at March 31, 2026	$	1,405		$	815		$	2,220
Expenses accrued during the period		3,299			77			3,376
Amounts paid		(2,888	)		(775	)		(3,663	)
Foreign currency translation		(3	)		7			4
Restructuring liability at June 30, 2026	$	1,813		$	124		$	1,937

The Company anticipates recognizing total restructuring expenses in the range of $75,000,000 to $80,000,000 for full year 2026.