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Restructuring | 9 Months Ended
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Sep. 28, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring The $3.5 million and $5.6 million restructuring charge in the third quarter and first nine months, respectively, of 2025 predominantly relates to costs aimed at reducing our fixed cost structure and generating savings through enhanced operational alignment, in particular to centralize our North American Gas Cylinders and Elektron divisions. As part of this initiative, we recognized an accelerated depreciation charge of $2.1 million and $3.8 million related to property, plant and equipment in the third quarter and first nine months of 2025, respectively, in accordance with ASC 360. These charges were triggered by a strategic decision to relocate operations, resulting in the affected assets no longer being utilized over their originally estimated useful lives. We also recognized $0.2 million of inventory impairments during the third quarter and first nine months of 2025 to reflect inventory that is no longer recoverable as part of the relocation. In addition, we recognized $1.2 million and $1.6 million of severance and other restructuring-related costs in the third quarter and first nine months of 2025, respectively, associated with workforce reductions and other costs incurred in connection with the restructuring activities. The $0.5 million and $2.3 million restructuring charge in the third quarter and first nine months, respectively, of 2024 predominantly related to continued costs aimed at reducing our fixed cost structure and realigning our business. 4. Restructuring (continued) Restructuring-related costs by reportable segment were as follows:
|  |  | Third Quarter |  | Year-to-date |
| In millions |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
| Severance and other costs |  |  |  |  |  |  |  |  |
| Gas Cylinders |  | $ | 0.7 |  |  | $ | 0.5 |  |  | $ | 1.1 |  |  | $ | 2.1 |  |
| Elektron |  | 0.5 |  |  | — |  |  | 0.5 |  |  | 0.2 |  |
|  |  | $ | 1.2 |  |  | $ | 0.5 |  |  | $ | 1.6 |  |  | $ | 2.3 |  |
| Accelerated depreciation charges |  |  |  |  |  |  |  |  |
| Gas Cylinders |  | $ | — |  |  | $ | — |  |  | $ | 1.7 |  |  | $ | — |  |
| Elektron segment |  | 2.1 |  |  | — |  |  | 2.1 |  |  | — |  |
|  |  | $ | 2.1 |  |  | $ | — |  |  | $ | 3.8 |  |  | $ | — |  |
| Asset impairments |  |  |  |  |  |  |  |  |
| Gas Cylinders |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |
| Total restructuring charges |  | $ | 3.5 |  |  | $ | 0.5 |  |  | $ | 5.6 |  |  | $ | 2.3 |  |
Activity related to restructuring, recorded in Other current liabilities in the consolidated balance sheets is summarized as follows:
| In millions | 2025 |  |  |
| Balance at January 1, | $ | 0.2 |  |  |  |
| Costs incurred | 1.6 |  |  |  |
| Cash payments and other | (1.3) |  |  |  |
| Balance at September 28, | $ | 0.5 |  |  |  |

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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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