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Restructuring and Other Impairment Activities | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Other Impairment Activities | Restructuring and Other Impairment Activities In January 2024, we announced an organizational realignment plan (the "Plan") that is expected to streamline organizational size and complexity and leverage business critical resources to enhance customer support and reduce overhead cost. Restructuring and other impairment expenses related to the Plan were comprised primarily of severance charges. These charges were $0.7 million for the three months ended September 30, 2024, of which $0.2 million, $0.5 million and none incurred within FAM, SAS and Unallocated, respectively, and were $16.4 million for the nine months ended September 30, 2024, of which $3.1 million, $10.0 million and $3.3 million incurred within FAM, SAS and Unallocated, respectively. Restructuring activities associated with the Plan are expected to be completed during 2024, with insignificant additional costs. Restructuring and other impairment expenses in the FAM segment, excluding costs associated with the Plan were primarily attributable to facility closures announced in prior years. Through September 30, 2024, the FAM Segment has recognized accumulated restructuring and other impairment charges of $5.2 million related to the facility closures. During the remainder of 2024, the Company expects to record additional restructuring costs in the FAM segment of less than $1.0 million related to the closure of these facilities. Restructuring and other impairment expenses in the SAS segment, excluding costs associated with the Plan included $8.9 million and $16.1 million of impairment charges, for the three and nine months ended September 30, 2024, respectively, to fully impair the net assets at our Eerbeek, Netherlands facility. The impairment assessment was performed after revising our long-term view on cash flows associated with the facility. The remaining restructuring and other impairment expenses were primarily related to a facility closure announced in a prior year. Through September 30, 2024, the SAS segment has recognized accumulated restructuring and other impairment charges of $5.5 million related to the facility closures. During the remainder of 2024, the Company expects to record additional restructuring costs in the SAS segment of less than $1.0 million related to the facility closures. Assets held for sale of $10.3 million and $10.5 million were included in Other current assets as of September 30, 2024 and 2023, respectively. The following table summarizes total restructuring and other impairment expense (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Filtration and Advanced Materials |  |  |  |  |  |  |
Severance and termination benefits | $ | 0.3 |  |  | $ | — |  |  | $ | 3.8 |  |  | $ | — |
Other exit costs | 0.4 |  |  | 1.1 |  |  | 1.4 |  |  | 2.3 |
FAM restructuring expense | 0.7 |  |  | 1.1 |  |  | 5.2 |  |  | 2.3 |
Sustainable and Adhesive Solutions |  |  |  |  |  |  |
Severance and termination benefits | 0.5 |  |  | — |  |  | 10.6 |  |  | 0.1 |
Other exit costs | 1.0 |  |  | 0.2 |  |  | 2.1 |  |  | 0.2 |
SAS restructuring expense | 1.5 |  |  | 0.2 |  |  | 12.7 |  |  | 0.3 |
Unallocated |  |  |  |  |  |  |
Severance and termination benefits | 0.1 |  |  | — |  |  | 3.4 |  |  | — |
Unallocated restructuring expense | 0.1 |  |  | — |  |  | 3.4 |  |  | — |
Total restructuring expense | $ | 2.3 |  |  | $ | 1.3 |  |  | $ | 21.3 |  |  | $ | 2.6 |
Sustainable and Adhesive Solutions |  |  |  |  |  |  |
Other impairment expense | 8.9 |  |  | 15.0 |  |  | 16.1 |  |  | 15.0 |
Total restructuring and other impairment expense | $ | 11.2 |  |  | $ | 16.3 |  |  | $ | 37.4 |  |  | $ | 17.6 |
The following table summarizes changes in restructuring liabilities (in millions):
| 2024 |  | 2023
Balance at beginning of the period | $ | 3.8 |  |  | $ | 4.0 |
Charges for restructuring programs | 21.3 |  |  | 2.6 |
Cash payments and other | (22.3) |  |  | (3.3) |
Balance at September 30, 2024 | $ | 2.8 |  |  | $ | 3.3 |
Restructuring liabilities were classified within Accrued expenses and other current liabilities and Other liabilities in the unaudited Condensed Consolidated Balance Sheets.

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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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