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Impairment and restructuring charges (Tables) | 6 Months Ended
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Jun. 30, 2024
Restructuring and Related Activities [Abstract] |
Schedule of Impairment of Long-Lived Assets Held and Used by Asset | The table below presents the total impairment charge by asset class for the three months ended June 30, 2024 and 2023:
| Three Months Ended June 30, 2024 |  | Three Months Ended June 30, 2023
Buildings, building improvements and leasehold improvements | 7.8 |  |  | 81.5 |
Furniture and equipment | 14.1 |  |  | 117.5 |
Software | 0.2 |  |  | 0.3 |
Construction-in-progress | 5.1 |  |  | 107.4 |
Total impairment of long-lived assets | $ | 27.2 |  |  | $ | 306.7 |
Schedule of Restructuring and Related Costs | The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Commercial Products | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
MCM Products | 2.7 |  |  | — |  |  | 2.6 |  |  | 2.0 |
Services | 0.4 |  |  | — |  |  | 0.2 |  |  | — |
Total restructuring costs by segment | 3.1 |  |  | — |  |  | 2.8 |  |  | 2.0 |
SG&A | 8.6 |  |  | 0.1 |  |  | 8.5 |  |  | 5.1 |
R&D | 5.4 |  |  | (0.2) |  |  | 5.3 |  |  | 2.5 |
Total restructuring costs | $ | 17.1 |  |  | $ | (0.1) |  |  | $ | 16.6 |  |  | $ | 9.6 |
The following table presents the total restructuring costs related to the January 2023 Plan, August 2023 Plan and May 2024 Plan by function:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Employee transition | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | 0.3 |
Severance payments | 14.8 |  |  | 0.1 |  |  | 14.3 |  |  | 8.8 |
Employee benefits | 2.1 |  |  | (0.2) |  |  | 2.1 |  |  | 0.5 |
Total restructuring costs | $ | 17.1 |  |  | $ | (0.1) |  |  | $ | 16.6 |  |  | $ | 9.6 |
Schedule of Restructuring Reserve by Type of Cost | The following tables provide the components of and changes in the Company's restructuring accrual for the January 2023 Plan during the three and six months ended June 30, 2024 and 2023:
| Employee Transition |  | Severance Payments |  | Employee Benefits |  | Total
Balance at December 31, 2023 | $ | — |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 1.4 |
Cash payments | — |  |  | (1.3) |  |  | — |  |  | (1.3) |
Balance at March 31, 2024 | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Cash payments | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Balance at June 30, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| Employee Transition |  | Severance Payments |  | Employee Benefits |  | Total
Balance at December 31, 2022 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accruals | 0.3 |  |  | 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 |
Accruals | — |  |  | 0.1 |  |  | (0.2) |  |  | (0.1) |
Cash payments | — |  |  | (3.6) |  |  | (0.1) |  |  | (3.7) |
Balance at June 30, 2023 | $ | 0.1 |  |  | $ | 3.2 |  |  | $ | 0.3 |  |  | $ | 3.6 |
The following table provides the components of and changes in the Company's restructuring accrual for the August 2023 Plan during the three and six months ended June 30, 2024:
| Employee Transition |  | Severance Payments |  | Employee Benefits |  | Total
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 |
Accruals | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Cash payments | — |  |  | (0.5) |  |  | (0.1) |  |  | (0.6) |
Balance at June 30, 2024 | $ | — |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 0.6 |
The following table provides the components of and changes in the Company's restructuring accrual for the May 2024 Plan during the three months ended June 30, 2024:
| Employee Transition |  | Severance Payments |  | Employee Benefits |  | Total
Balance at March 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accruals | 0.2 |  |  | 14.8 |  |  | 2.2 |  |  | 17.2 |
Cash payments | (0.2) |  |  | — |  |  | — |  |  | (0.2) |
Balance at June 30, 2024 | $ | — |  |  | $ | 14.8 |  |  | $ | 2.2 |  |  | $ | 17.0 |

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- Definition Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.CC) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480091/360-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-2 + Details
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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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