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RESTRUCTURING AND EXIT ACTIVITIES COSTS (Tables) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring and Related Costs | Restructuring and other related charges were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | June 30, 2025 (a) |  | June 30, 2024 (b) |  | June 30, 2025 (a) |  | June 30, 2024 (b)
Employee severance related | $ | 5,145 |  |  | $ | (402) |  |  | $ | 6,142 |  |  | $ | (351) |
Facility exit and other related | — |  |  | 489 |  |  | — |  |  | 489 |
Total | $ | 5,145 |  |  | $ | 87 |  |  | $ | 6,142 |  |  | $ | 138 |
(a) Includes expenses related to the 2025 Restructuring Plan (b) Includes expenses related to the 2023 Restructuring Plan These charges are reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Cost of sales | $ | 838 |  |  | $ | (1,025) |  |  | $ | 1,001 |  |  | $ | (992) |
Selling, general, and administrative expenses | 3,622 |  |  | 873 |  |  | 4,180 |  |  | 891
Research and development | 685 |  |  | 239 |  |  | 961 |  |  | 239
Total | $ | 5,145 |  |  | $ | 87 |  |  | $ | 6,142 |  |  | $ | 138 |
Restructuring and other related charges recorded in cost of sales by reportable segment were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Healthcare Solutions | $ | 458 |  |  | $ | (1,025) |  |  | $ | 512 |  |  | $ | (992) |
Industrial Solutions | 380 |  |  | — |  |  | 489 |  |  | — |
Total | $ | 838 |  |  | $ | (1,025) |  |  | $ | 1,001 |  |  | $ | (992) |
The activity in the restructuring accrual related to the 2025 Restructuring Plan was as follows:
(in thousands) | Balance as of December 31, 2024 |  | Costs Incurred |  | Paid/Settled |  | Balance as of June 30, 2025
Employee severance related | $ | — |  |  | $ | 6,142 |  |  | $ | (1,962) |  |  | $ | 4,180 |
Total | $ | — |  |  | $ | 6,142 |  |  | $ | (1,962) |  |  | $ | 4,180 |

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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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