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EXIT AND DISPOSAL ACTIVITIES
6 Months Ended
Mar. 30, 2025
Restructuring and Related Activities [Abstract]  
EXIT AND DISPOSAL ACTIVITIES EXIT AND DISPOSAL ACTIVITIES
During the six month period ended March 30, 2025, the Company entered into initiatives within its HPC and GPC segments following the consolidation of functions and operations within the segments and changes in their commercial strategies for certain international markets, in addition to the restructuring of shared operations and enabling functions as the Company exits transition service agreements from previous divestitures, resulting in the realization of headcount reductions and related termination charges. Total cumulative exit and disposal costs associated with these initiatives were $4.0 million, with approximately $6 million of additional costs forecasted in the foreseeable future.
The following summarizes restructuring charges for the three and six month periods ended March 30, 2025 and March 31, 2024:
Three Month Periods EndedSix Month Periods Ended
(in millions)
March 30, 2025March 31, 2024March 30, 2025March 31, 2024
Exit and disposal costs$3.5 $0.7 $4.0 $1.0 
Reported as:
Selling, general & administrative expense3.5 0.7 4.0 1.0 
The following is a summary of restructuring charges by segment for the three and six month periods ended March 30, 2025 and March 31, 2024.
Three month periods endedSix month periods ended
(in millions)March 30, 2025March 31, 2024March 30, 2025March 31, 2024
GPC$0.3 $0.1 $0.3 $— 
HPC2.1 0.4 2.6 0.7 
Corporate and shared operations1.1 0.2 1.1 0.3 
Total exit and disposal activities$3.5 $0.7 $4.0 $1.0 
The following is a summary of restructuring charges by cost type for the three and six month periods ended March 30, 2025 and March 31, 2024.
(in millions)
Termination
Benefits
Other
Costs
Total
Three month period ended March 30, 2025$3.4 $0.1 $3.5 
Three month period ended March 31, 20240.4 0.3 0.7 
Six month period ended March 30, 20253.9 0.1 4.0 
Six month period ended March 31, 20240.5 0.5 1.0 
The following is a roll forward of the accrual for restructuring charges by cost type for the six month period ended March 30, 2025.
(in millions)Termination
Benefits
Other
Costs
Total
September 30, 2024$1.2 $0.1 $1.3 
Provisions3.6 0.1 3.7 
Cash expenditures(1.6)— (1.6)
March 30, 2025$3.2 $0.2 $3.4