RESTRUCTURING CHARGES

9 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

The following is a reconciliation of the beginning and ending restructuring reserve balances for the nine months ended June 30, 2026:


(in millions)	Employee Separation Costs		Other Costs		Total
Balance at September 30, 2025	$	21.3	$	0.4	$	21.7
Costs incurred and charged to expense	16.7		8.2		24.9
Costs paid or otherwise settled	(27.4)		(8.5)		(35.9)
Balance at June 30, 2026	$	10.6	$	0.1	$	10.7

The focus for restructuring activities in 2026 is to continue optimizing operations to manage a historical period of industrial activity contraction while simultaneously transforming the Company’s internal processes and portfolio mix for optimal alignment to long-term profitable earnings growth.

During the three months ended June 30, 2026, the Company recorded restructuring charges of $5.9 million, as compared to $9.3 million of restructuring charges recorded during the three months ended June 30, 2025. The restructuring activity for the three months ended June 30, 2026 consisted of $4.4 million in employee separation costs and $1.5 million in other restructuring costs, primarily consisting of costs associated with site closures, professional and other fees associated with restructuring activities.

During the nine months ended June 30, 2026, the Company recorded restructuring charges of $24.9 million, as compared to $21.7 million of restructuring charges recorded during the nine months ended June 30, 2025. The restructuring activity for the nine months ended June 30, 2026 consisted of $16.7 million in employee separation costs and $8.2 million in other restructuring costs, primarily consisting of costs associated with site closures, professional and other fees associated with restructuring activities.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-Q. Remaining amounts expected to be incurred were $24.9 million as of June 30, 2026:


(in millions)	Total Amounts Expected to be Incurred		Amounts Incurred During the Nine Months Ended June 30, 2026		Amounts Remaining to be Incurred
Customized Polymer Solutions
Employee separation costs	$	4.4	$	3.6	$	0.8
Other restructuring costs	0.8		0.8		—
	5.2		4.4		0.8
Durable Metal Solutions
Employee separation costs	7.4		5.0		2.4
Other restructuring costs	6.9		1.4		5.5
	14.3		6.4		7.9
Sustainable Fiber Solutions
Employee separation costs	8.9		7.2		1.7
Other restructuring costs	20.1		6.0		14.1
	29.0		13.2		15.8
Innovative Closure Solutions
Employee separation costs	1.3		0.9		0.4
Other restructuring costs	—		—		—
	1.3		0.9		0.4
	$	49.8	$	24.9	$	24.9