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Restructuring | 6 Months Ended
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Jun. 30, 2025
Restructuring [Abstract] |
Restructuring |
13. | Restructuring
In the fourth quarter of 2023, the Company adopted a strategic plan (“2023 Plan”) to focus resources on the Company’s global priorities and optimize future growth and profitability. The global program includes workforce reductions and fixed asset impairments associated with our consolidation of technology assets. Total charges under the program included approximately $27.9 million in cash charges of severance, approximately $1.1 million in other cash charges and approximately $38.8 million in non-cash charges, including approximately $36.6 million in fixed asset impairments. The Company has incurred all expected charges under the 2023 Plan, and anticipates making the remaining payments in the back half of 2025.
| ● | During the fourth quarter of 2023, the Company incurred charges to be settled in cash of $10.0 million in severance charges. During the fourth quarter of 2023, the Company made cash payments of $0.3 million, leaving an ending restructuring accrual of $9.7 million.
| ● | During the first quarter of 2024, the Company incurred charges to be settled in cash of $4.1 million in severance charges and $2.0 million in other associated cost, and non-cash charges of $1.0 million in write-down of assets. During the first quarter of 2024, the Company made cash payments of $7.0 million, leaving an ending restructuring accrual of $8.8 million.
| ● | During the second quarter of 2024, the Company incurred charges to be settled in cash of $1.0 million in severance charges and $0.1 million in other cash charges. In the second quarter of 2024, the Company incurred non-cash charges of $7.2 million, consisting of $6.4 million in fixed asset impairments and $0.8 million in other asset write-downs. During the second quarter of 2024, the Company made cash payments of $2.8 million, leaving an ending restructuring accrual of $7.1 million.
| ● | During the third quarter of 2024, the Company incurred no additional charges and made cash payments of $3.9 million, leaving an ending restructuring accrual of $3.2 million.
| ● | During the fourth quarter of 2024, the Company incurred charges to be settled in cash of $12.8 million in severance charges and $(1.1) million in other cash charges. In the fourth quarter of 2024, the Company incurred non-cash charges of $30.2 million of fixed asset impairments and $0.4 million of other non-cash charges. During the fourth quarter of 2024, the Company made cash payments of $8.7 million, leaving an ending restructuring accrual of $6.2 million.
| ● | During the first quarter of 2025, the Company incurred no further charges, and it made cash payments of $4.7 million leaving an ending restructuring accrual of $1.5 million.
| ● | During the second quarter of 2025, the Company incurred no further charges, and it made cash payments of $0.5 million leaving an ending restructuring accrual of $1.0 million.
Restructuring expense by segment – 2023 Plan
|  | Three Months Ended |  |  |  |
(U.S. dollars in thousands) |  | December 31, 2024 |  |  | June 30, 2024 |  |  | March 31, 2024 |  |  | December 31, 2023 |  |  | Total |
Nu Skin |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 159 |  |  | $ | 267 |  |  | $ | 3,145 |  |  | $ | 598 |  |  | $ | 4,169 |
Southeast Asia/Pacific |  |  | 1,589 |  |  |  | 190 |  |  |  | 307 |  |  |  | 862 |  |  |  | 2,948 |
Mainland China |  |  | 3,449 |  |  |  | (162 | ) |  |  | 1,017 |  |  |  | 2,910 |  |  |  | 7,214 |
Japan |  |  | 1 |  |  |  | — |  |  |  | 24 |  |  |  | — |  |  |  | 25 |
Europe & Africa |  |  | 1,152 |  |  |  | 414 |  |  |  | 677 |  |  |  | 554 |  |  |  | 2,797 |
South Korea |  |  | 1,646 |  |  |  | (134 | ) |  |  | 134 |  |  |  | — |  |  |  | 1,646 |
Hong Kong/Taiwan |  |  | 294 |  |  |  | (147 | ) |  |  | 357 |  |  |  | 432 |  |  |  | 936 |
Total Nu Skin |  |  | 8,290 |  |  |  | 428 |  |  |  | 5,661 |  |  |  | 5,356 |  |  |  | 19,735 |
Rhyz |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manufacturing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Rhyz Other |  |  | 1,040 |  |  |  | 40 |  |  |  | — |  |  |  | — |  |  |  | 1,080 |
Total Rhyz |  |  | 1,040 |  |  |  | 40 |  |  |  | — |  |  |  | — |  |  |  | 1,080 |
Corporate and other |  |  | 32,887 |  |  |  | 7,896 |  |  |  | 1,473 |  |  |  | 4,647 |  |  |  | 46,903 |
Total |  | $ | 42,217 |  |  | $ | 8,364 |  |  | $ | 7,134 |  |  | $ | 10,003 |  |  | $ | 67,718 |

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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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