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EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
Note 3 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
Cloud-based Enterprise Resource Planning System Impairment and Other Related Charges
In the first quarter of 2025, the Company completed a review of its cloud-based enterprise resource planning system, S/4HANA, including updated project timelines, cost incurred to date, required internal resources and expected costs to complete the initial site implementations, and the evolution of options that could provide better returns for shareholders. As a result of this review, the Company determined it would cease the ongoing development of S/4HANA.
As a result of this decision, in the first quarter of 2025, the Company recognized a non-cash, pre-tax impairment charge of $71.6 million associated with capitalized implementation costs. The Company also recognized pre-tax charges of $14.7 million associated with unpaid contractual obligations for hosting fees. Further, the Company recognized charges of $2.8 million associated to severance actions resulting from the decision to cease development of S/4HANA. These charges are included in Selling and administrative expense within the Consolidated Statements of Income.
Clariant Color Integration Restructuring Program
We completed a restructuring program associated with our integration of Clariant Color, which is expected to enable us to better serve customers, improve efficiency and deliver cost savings. This program resulted in total charges of $64.0 million.
A summary of the Clariant Color integration restructuring is shown below:
(In millions)Employee
severance		Other restructuring costsTotal
Balance at January 1, 2023$34.3 $2.4 $36.7 
Restructuring charges6.9 1.2 8.1 
Payments, utilization and translation(10.9)(2.8)(13.7)
Balance at December 31, 2023$30.3 $0.8 $31.1 
Restructuring charges0.4 1.6 2.0 
Payments, utilization and translation(23.3)(1.6)(24.9)
Balance at December 31, 2024$7.4 $0.8 $8.2 
Restructuring charges0.9 0.8 1.7 
Payments, utilization and translation(5.6)(1.6)(7.2)
Balance at December 31, 2025$2.7 $— $2.7 
Other Restructuring Actions
During the years ended December 31, 2025, 2024 and 2023, additional charges were recognized associated with workforce reductions and plant closures. These actions have been taken as a result of productivity initiatives and organizational changes. A summary of this activity is shown below:
(In millions)Employee
severance		Other restructuring costsTotal
Balance at January 1, 2023$0.6 $— $0.6 
Restructuring charges17.0 1.3 18.3 
Payments, utilization and translation(12.9)(1.3)(14.2)
Balance at December 31, 2023$4.7 $— $4.7 
Restructuring charges0.6 1.9 2.5 
Payments, utilization and translation(2.6)(1.9)(4.5)
Balance at December 31, 2024$2.7 $— $2.7 
Restructuring charges37.2 6.7 43.9 
Payments, utilization and translation(7.3)(6.7)(14.0)
Balance at December 31, 2025$32.6 $— $32.6 
Total restructuring costs included in the Consolidated Statements of Income for the years ended December 31, 2025, 2024 and 2023 are shown in the table below.
(In millions)202520242023
Cost of goods sold$21.2 $(1.0)$11.9 
Selling and administrative expenses27.2 5.5 14.5 
Total employee separation and restructuring charges$48.4 $4.5 $26.4