RESTRUCTURING COSTS

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

(5) RESTRUCTURING COSTS

Restructuring costs include expenses associated with the Company’s efforts to continually improve operational efficiency and reposition its assets to remain competitive on a worldwide basis. Plant closing and other costs include lease and contract termination costs of moving fixed assets, employee training, relocation, and facility costs. These costs are recorded in "Restructuring costs" on the Unaudited Condensed Consolidated Statement of Earnings (Loss).

Restructuring expense by business segment were as follows:


	Three months ended September 30, 2025		Three months ended September 30, 2024(1)		Nine months ended September 30, 2025		Nine months ended September 30, 2024(1)
Americas	$	—	$	(6.1)	$	0.7	$	(5.8)
Asia Pacific	—		—		0.9		(2.1)
Europe, Middle East & Africa	—		12.8		0.9		13.5
Corporate	30.7		(0.4)		31.2		(1.5)
Total	$	30.7	$	6.3	$	33.7	$	4.1

(1) During the three and nine months ended September 30, 2024 restructuring reserves were adjusted due to new restructuring activities in Europe, Middle East & Africa and slightly offset by a change in restructuring plans previously recorded in Americas.

The Company has an on-going multi-year restructuring program in place to align its cost structure to support margin expansion targets. The program includes workforce reductions and footprint optimization across all segments. During the three months ended September 30, 2025 the Company initiated an additional global restructuring program to streamline operations, optimize our cost structure and improve operational efficiencies. This program was initiated at the global level, and as such, these costs are captured within the Corporate category above. The current liability and non-current liability for estimated restructuring costs is recorded in "Accrued expenses and other liabilities” and "Other long-term liabilities", respectively, on the Unaudited Condensed Consolidated Balance Sheets. As of September 30, 2024, the non-current liability for estimated restructuring costs decreased by $6.5 due to a change in restructuring plans.

The change in the current liability for the restructuring costs during the nine months ended September 30, 2025 were as follows:


	December 31, 2024		Paid/Utilized		Expense		September 30, 2025
Severance and benefits	$	10.3	$	(8.7)	$	32.4	$	34.0
Plant closing and other	0.1		(2.5)		1.3		(1.1)
Total	$	10.4	$	(11.2)	$	33.7	$	32.9

The change in the current liability for the restructuring costs during the nine months ended September 30, 2024 were as follows:


	December 31, 2023		Paid/Utilized		Expense		September 30, 2024
Severance and benefits	$	25.1	$	(10.3)	$	(2.7)	$	12.1
Plant closing and other	0.1		(13.2)		13.2		0.1
Total	$	25.2	$	(23.5)	$	10.5	$	12.2