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Restructuring charges
 3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring charges Restructuring charges
January 2023 Organizational Restructuring Plan
In January 2023, the Company initiated an organizational restructuring plan (the “January 2023 Plan”) intended to reduce operating costs, improve operating margins, and continue advancing the Company’s ongoing commitment to profitable growth. As part of the January 2023 Plan, the Company reduced its workforce by approximately 125 employees. The charges related to the January 2023 plan consist primarily of employee transition, severance payment and employee benefit charges. The cumulative amount of restructuring charge related to the January 2023 Plan since inception is $9.3 million. All activities related to the January 2023 Plan were substantially completed during the first quarter of 2023. Restructuring costs are recognized as an operating expense within the Condensed Consolidated Statement of Operations and are classified based on the Company's classification policy for each category of operating expense.
August 2023 Organizational Restructuring Plan
In August 2023, the Company initiated the August 2023 Plan intended to strengthen its core business and financial position by reducing investment in and de-emphasizing focus on its CDMO services business for future growth. As part of the August 2023 Plan, the Company reduced its workforce by approximately 400 employees. The charges related to the August 2023 Plan consist primarily of employee transition, severance payment and employee benefit charges. The cumulative amount of restructuring charge related to the August 2023 Plan since inception is $19.5 million. All activities related to the August 2023 Plan were substantially completed during the third quarter of 2023. Restructuring costs are recognized as an operating expense within the Condensed Consolidated Statement of Operations and are classified based on the Company's classification policy for each category of operating expense.
The following table presents the total restructuring costs related to the January 2023 Plan and August 2023 Plan by reportable segment as well as amounts included within unallocated corporate selling general and administrative (“SG&A”) expense and research and development ("R&D") expense:
Three Months Ended March 31,
20242023
Commercial Products$— $— 
MCM Products(0.1)2.0 
Services(0.2)— 
Total restructuring costs by segment(0.3)2.0 
SG&A(0.1)5.0 
R&D(0.1)2.7 
Total restructuring costs$(0.5)$9.7 
The following table presents the total restructuring costs related to the January 2023 Plan and August 2023 Plan by function:
Three Months Ended March 31,
20242023
Employee transition$— $0.3 
Severance payments(0.5)8.7 
Employee benefits— 0.7 
Total restructuring costs$(0.5)$9.7 
The following tables provide the components of and changes in the Company's restructuring accrual for the January 2023 Plan during the three months ended March 31, 2024 and 2023:
Employee TransitionSeverance PaymentsEmployee BenefitsTotal
Balance at December 31, 2023$— $1.4 $— $1.4 
Cash payments— (1.3)— (1.3)
Balance at March 31, 2024$— $0.1 $— $0.1 
Employee TransitionSeverance PaymentsEmployee BenefitsTotal
Balance at December 31, 2022$— $— $— $— 
Accruals0.3 8.7 0.7 9.7 
Cash payments(0.2)(2.0)(0.1)(2.3)
Balance at March 31, 2023$0.1 $6.7 $0.6 $7.4 
The following table provides the components of and changes in the Company's restructuring accrual for the August 2023 Plan during the three months ended March 31, 2024:
Employee TransitionSeverance PaymentsEmployee BenefitsTotal
Balance at December 31, 2023$— $5.3 $0.1 $5.4 
Accruals— (0.5)— (0.5)
Cash payments— (3.6)— (3.6)
Balance at March 31, 2024$— $1.2 $0.1 $1.3