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Supplemental Financial Statement Information - (Notes)
 6 Months Ended
Jun. 29, 2025
Other Income and Expenses [Abstract]  
Supplemental Financial Statement Information Supplemental Financial Statement Information
Other income (expense), net for the quarters and year-to-date periods ended June 29, 2025 and June 30, 2024 was as follows:
(in millions)Quarter endedYear-to-date period ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Rent and royalty income$1.8 $0.8 $3.3 $1.6 
Other— (0.4)— (0.8)
Total other income, net$1.8 $0.4 $3.3 $0.8 

Restructuring
Restructuring charges were a credit for both the quarter and year-to-date period ended June 29, 2025 of $1.3 million for a reduction in severance-related reserves for approximately 40 employees for a previous restructuring in the AA&S segment. Restructuring charges were a credit for the quarter and year-to-date period ended June 30, 2024 of $1.9 million and $1.7 million, respectively, primarily for a reduction in severance-related reserves for approximately 80 employees based on changes in planned operating rates and revised workforce reduction estimates, which included the ongoing restructuring for the
Company’s European operations. These amounts are presented as restructuring charges/credits in the consolidated statements of operations and are excluded from segment results.
Restructuring reserves for severance cost activity is as follows:
Severance and Employee
Benefit Costs
Balance at December 29, 2024$9.0 
Adjustments(1.3)
Divestitures(0.5)
Payments(4.1)
Balance at June 29, 2025$3.1 
During the year-to-date period ended June 29, 2025, the Company de-recognized $0.5 million of restructuring reserves in connection with the sale of non-core operations in Birmingham, UK and Dusseldorf, Germany (see Note 5 for further explanation). The $3.1 million restructuring reserve balance at June 29, 2025 is recorded in other current liabilities on the consolidated balance sheet.
Supplier Financing
The Company participates in supplier financing programs with two financial institutions to offer its suppliers the option for access to payment in advance of an invoice due date. Under such programs, these financial institutions provide early payment to suppliers at their request for invoices that ATI has confirmed as valid at a predetermined discount rate commensurate with the creditworthiness of ATI. As of June 29, 2025 and December 29, 2024, the Company had $61.5 million and $34.8 million, respectively, reported in accounts payable on the consolidated balance sheets under such programs.
Sale of Receivables Program
During the fourth quarter of 2024, the Company entered into an accounts receivables purchase agreement (Receivables Purchase Agreement) with a third-party financial institution to periodically sell certain accounts receivables at a discount. These accounts receivable sales are accounted for as a sale of assets under ASC 860, Transfers and Servicing, as the Company’s continuing involvement is limited to servicing the accounts receivable, collecting the payments for the underlying accounts receivables and remitting such collections to the financial institution. The financial institution is responsible for any credit risk associated with the sold accounts receivable. The Company receives the purchase price, equal to the accounts receivable less the discount, at the time of the sale.
The Company sold $39.4 million and $68.2 million of its receivables under this program during the quarter and year-to-date periods ended June 29, 2025, respectively, resulting in de-recognition of the receivables from the Company’s consolidated balance sheet. The Company had no amounts collected on behalf of the financial institution under the Receivables Purchase Agreement at June 29, 2025. The losses associated with these transactions of $0.3 million and $0.5 million are reflected in the Company’s consolidated statement of operations for the quarter and year-to-date periods ended June 29, 2025, respectively, and are excluded from segment results. The cash received on these sales of accounts receivable during the year-to-date period ended June 29, 2025 is presented in changes in receivables within operating activities in the consolidated statement of cash flows.
Other Customer Receivable Sales
In the second quarter and year-to-date period ended June 29, 2025, the Company sold $91.5 million and $164.1 million, respectively, of certain customers’ accounts receivable through programs established by those customers with third-party financial institutions. In the second quarter and year-to-date period ended June 30, 2024, the Company sold $74.3 million and $142.3 million, respectively, of certain customers’ accounts receivable through programs established by those customers with third-party financial institutions. These customers have extended payment terms and provide the programs to enable suppliers to receive more timely payments. The Company has no continuing involvement with the receivables sold under these programs, including no servicing requirement. The proceeds from these transactions are presented in changes in receivables within operating activities in the consolidated statement of cash flows. The losses associated with these transactions of $1.3 million and $2.7 million for the quarter and year-to-date periods ended June 29, 2025, respectively, and $1.3 million and $2.9 million for the quarter and year-to-date periods ended June 30, 2024, respectively, are reflected in the Company’s consolidated statements of operations and are excluded from segment results.