Restructuring and Other Charges, Net

6 Months Ended

Dec. 31, 2025

In January 2025, we announced several actions to support the long-term competitiveness of the Company and to mitigate softer market conditions. Total restructuring and related charges for this program of $18.6 million, compared to a revised target of approximately $20 million, were recorded through December 31, 2025, consisting of $15.1 million in Metal Cutting and $3.6 million in Infrastructure. The Company substantially completed the closure of a facility in Greenfield, MA and the consolidation of facilities in Barcelona, Spain during 2025 as a part of these actions.

We recorded restructuring and related charges of $3.1 million for the three months ended December 31, 2025, which consisted of $2.1 million in Metal Cutting and $0.9 million in Infrastructure. Included in this amount were restructuring related charges of $0.5 million included in cost of goods sold. We recorded restructuring and related charges of $6.2 million for the six months ended December 31, 2025, which consisted of $5.4 million in Metal Cutting and $0.8 million in Infrastructure. Included in this amount were restructuring related charges of $2.1 million included in cost of goods sold.

We recorded restructuring and related charges of $1.4 million for the three months ended December 31, 2024, which consisted of $1.2 million in Metal Cutting and $0.2 million in Infrastructure. We recorded restructuring and related charges of $2.0 million for the six months ended December 31, 2024, which consisted of $1.8 million in Metal Cutting and $0.2 million in Infrastructure.

As of December 31, 2025, $8.3 million and $2.8 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2025, $11.0 million and $2.4 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows:


(in thousands)	June 30, 2025		Expense		Asset Write-Down		Translation		Cash Expenditures		December 31, 2025
Severance	$	13,394	$	3,452	$	—	$	62	$	(5,839)	$	11,069
Facilities	—		665		(665)		—		—		—

Total	$	13,394	$	4,117	$	(665)	$	62	$	(5,839)	$	11,069