RESTRUCTURING AND OTHER CHARGES, NET OF RECOVERIES

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER CHARGES, NET OF RECOVERIES

RESTRUCTURING AND OTHER CHARGES, NET OF RECOVERIES

	Three months ended March 31
	2025		2024
Restructuring charges (a)	$	2.2	$	5.1
Acquisition costs (b)	0.6		1.0
Other charges (recoveries) (c)	1.1		(1.3)
	$	3.9	$	4.8

(a)    Restructuring charges:

Our restructuring activities consisted primarily of actions to adjust our cost base to address reduced levels of demand in certain of our businesses and geographies. In Q1 2025 and Q1 2024, our restructuring charges consisted primarily of cash charges related to employee terminations. At March 31, 2025, our restructuring provision was $2.3 (December 31, 2024 — $2.9), which we recorded in accrued and other current liabilities and provisions on our consolidated balance sheet.

(b)    Acquisition costs:

We incur consulting, transaction and integration costs relating to potential and completed acquisitions. We recorded acquisition costs of $0.6 in Q1 2025 (Q1 2024 — $1.0, including costs for our acquisition of NCS (see note 4)).

(c)    Other charges (recoveries):

In Q1 2025, we recorded other charges of $1.1 related to our transition as a U.S. domestic filer. Other recoveries of $1.3 in Q1 2024 consisted of legal recoveries in connection with the settlement of class action lawsuits (for component parts purchased in prior periods) in which we were a plaintiff.