Restructuring Charges

9 Months Ended

Jun. 30, 2024

Operating Model Redesign

In fiscal 2024, the Company continues to take actions to strengthen its operating model, simplify the organization’s ways of working and improve manufacturing and supply chain efficiency and productivity. As a result of these actions, the Company expects to incur restructuring and repositioning related charges of approximately $19 in fiscal 2024. The Company has incurred restructuring and repositioning related charges as follows:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2024		2023		2024		2023
Severance and related costs	$	1.3	$	1.3	$	6.3	$	4.1
Asset write-off and accelerated depreciation	—		0.1		0.3		0.3
Consulting, project implementation and management, and other exit costs	1.9		1.7		6.6		4.7
Total restructuring and repositioning charges (1) (2)	$	3.2	$	3.1	$	13.2	$	9.1

(1)Restructuring and repositioning charges of nil and $0.2 are included within Cost of products sold for the three and nine months ended June 30, 2023, respectively.

(2)Restructuring and repositioning charges of $0.1 are included within Selling, general and administrative expense (“SG&A”) for the three and nine months ended June 30, 2024 and $0.1 and $0.2 for the three and nine months ended June 30, 2023, respectively.

The following table summarizes the restructuring activities and related accrual for the nine months ended June 30, 2024:


					Utilized
	October 1, 2023		Charge to Income		Cash		June 30, 2024
Severance and related costs	$	3.9	$	6.6	$	(8.7)	$	1.8

Consulting, project implementation and management, and other exit costs	0.7		6.6		(7.3)		—
Total restructuring activities and related accrual	$	4.6	$	13.2	$	(16.0)	$	1.8