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Restructuring and Asset Impairments
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairments

10. Restructuring and Asset Impairments

The Company has undertaken restructuring actions impacting the reportable segments at various locations across North America, Europe and Asia. This includes workforce right-sizing actions resulting in severance and transition costs; and costs related to the consolidation of facilities resulting in asset impairment and accelerated depreciation charges.

The following table presents restructuring costs by segment as included within the Company’s consolidated statements of operations (in millions):

 

Three Months Ended
March 31,

 

 

2025

 

 

2024

 

Cost of revenues:

 

 

 

 

 

 

BSI BioSpin

 

$

1.0

 

 

$

—

 

BSI CALID

 

 

1.2

 

 

—

 

BSI NANO

 

 

0.4

 

 

 

3.7

 

Total Cost of revenues

 

$

2.6

 

 

$

3.7

 

Other charges, net:

 

 

 

 

 

 

BSI BioSpin

 

$

5.8

 

 

$

—

 

BSI CALID

 

 

1.0

 

 

—

 

BSI NANO

 

 

0.8

 

 

 

3.0

 

Corporate

 

—

 

 

 

0.5

 

Total Other charges, net

 

 

7.6

 

 

 

3.5

 

Total

 

$

10.2

 

 

$

7.2

 

 

The following tables set forth the changes in restructuring reserves for the periods reported (in millions):

 

 

Total

 

 

Severance

 

 

Exit Costs

 

 

Provisions
for Excess
Inventory

 

Balance at December 31, 2024

 

$

7.7

 

 

$

4.6

 

 

$

2.6

 

 

$

0.5

 

Restructuring charges

 

 

10.2

 

 

 

8.2

 

 

 

1.0

 

 

 

1.0

 

Cash payments

 

 

(7.3

)

 

 

(4.0

)

 

 

(3.3

)

 

 

—

 

Other, non-cash adjustments and foreign currency effect

 

 

(1.3

)

 

 

0.2

 

 

 

—

 

 

 

(1.5

)

Balance at March 31, 2025

 

$

9.3

 

 

$

9.0

 

 

$

0.3

 

 

$

0.0

 

 

 

Total

 

 

Severance

 

 

Exit Costs

 

 

Provisions
for Excess
Inventory

 

Balance at December 31, 2023

 

$

13.1

 

 

$

9.6

 

 

$

2.9

 

 

$

0.6

 

Restructuring charges

 

 

7.2

 

 

 

3.0

 

 

 

1.4

 

 

 

2.8

 

Cash payments

 

 

(9.1

)

 

 

(7.2

)

 

 

(1.9

)

 

 

—

 

Other, non-cash adjustments and foreign currency effect

 

 

(2.9

)

 

 

(0.1

)

 

 

—

 

 

 

(2.8

)

Balance at March 31, 2024

 

$

8.3

 

 

$

5.3

 

 

$

2.4

 

 

$

0.6

 

 

During the three months ended March 31, 2025 and 2024, in connection with the Bruker Cellular Analysis restructuring plan, the Company recorded and accrued severance and termination charges of $0.5 million and $3.9 million respectively, and made payments of $3.0 million and $7.0 million, respectively. In addition, the Company charged $2.8 million to product restructuring costs due to scrapping of expired or expiring inventories during the three months ended March 31, 2024. The Company did not have similar charges during the three months ended March 31, 2025. Refer to Note 12, Restructurings and Asset Impairments of the Annual Report on Form 10K for the year ended December 31, 2024 for further information on this restructuring plan.