Restructuring Activities and Related Impairments

3 Months Ended

Mar. 29, 2024

Restructuring and Related Activities [Abstract]

Restructuring Activities And Related Impairments

RESTRUCTURING ACTIVITIES AND RELATED IMPAIRMENTS

Restructuring Activities

The Company’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing the Company’s strategy, pursuant to restructuring programs.

Restructuring related charges by segment were as follows ($ in millions): 

	Three Months Ended
	March 29, 2024		March 31, 2023
Specialty Products & Technologies	$	3.3	$	1.6
Equipment & Consumables	2.8		2.6
Other	0.8		0.1
Total	$	6.9	$	4.3

Restructuring related charges were reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations ($ in millions):

	Three Months Ended
	March 29, 2024		March 31, 2023
Cost of sales	$	1.7	$	1.5
Selling, general and administrative expenses	5.2		2.8
Total	$	6.9	$	4.3

At March 29, 2024 and December 31, 2023, the restructuring liability was $13.0 million and $16.0 million, respectively.