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Restructuring and Other Impairment Activities
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Other Impairment Activities Restructuring and Other Impairment Activities
In January 2024, we announced an organizational realignment initiative (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. Activities associated with a first wave of the Plan were completed during 2024, with additional initiatives expected through 2026. Restructuring activities associated with the current initiative are expected to be completed during 2025 with additional costs comprised primarily of severance and not expected to exceed $2.0 million.
Assets held for sale of $5.0 million and $10.3 million were included in Other current assets as of June 30, 2025 and December 31, 2024, respectively.
The following table summarizes total restructuring and other impairment expense (in millions):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Filtration and Advanced Materials(1)
Severance and termination benefits$1.8 $0.7 $2.1 $3.5 
Other exit costs0.4 0.5 0.8 1.0 
FAM restructuring expense2.2 1.2 2.9 4.5 
Sustainable and Adhesive Solutions(2)
Severance and termination benefits0.2 2.1 0.4 10.1 
Other exit costs— 0.9 0.1 1.0 
SAS restructuring expense0.2 3.0 0.5 11.1 
Unallocated
Severance and termination benefits1.4 0.3 1.4 3.1 
Other exit costs— 0.1 — 0.3 
Unallocated restructuring expense1.4 0.4 1.4 3.4 
Total restructuring expense3.8 4.6 4.8 19.0 
Filtration and Advanced Materials
Other impairment expense— — 5.3 — 
Sustainable and Adhesive Solutions
Other impairment expense— 7.2 — 7.2 
Total restructuring and other impairment expense$3.8 $11.8 $10.1 $26.2 
(1)Includes costs associated with facility closures announced in prior years of $0.3 million and $0.8 million for the three months ended June 30, 2025 and 2024, respectively and $0.7 million and $1.6 million for the six months ended June 30, 2025 and 2024, respectively. Through June 30, 2025, the Company has recognized accumulated restructuring and impairment charges of $11.0 million related to an ongoing facility closure. During the remainder of 2025, the Company expects to record additional restructuring costs in the FAM segment, not expected to exceed $1.0 million related to the closure of this facility.
(2)Includes costs associated with facility closures announced in prior years of $0.8 million and $1.7 million for the three and six months ended June 30, 2024, respectively, related to facilities closed in prior years.
The following table summarizes changes in restructuring liabilities (in millions):
20252024
Balance at beginning of the period
$2.2 $3.8 
Charges for restructuring programs
4.8 19.0 
Cash payments and other
(3.1)(18.0)
Balance at end of the period
$3.9 $4.8 
Restructuring liabilities were classified within Accrued expenses and other current liabilities and Other liabilities in the unaudited Condensed Consolidated Balance Sheets.