Restructuring and Related Activities

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

In 2022, the Company initiated a global cost and optimization program to improve its cost structure and drive a more profitable and productive organization. As of September 30, 2025, the program included restructuring and associated severance costs to reduce headcount by approximately 420 positions globally. These actions are expected to be substantially complete by the end of 2026.

Employee separation benefits vary depending on local regulations across countries. The timing to finalize costs associated with all actions will depend on a number of factors and is subject to change. In addition to the global cost and optimization program described above, the Company continues to take actions to optimize its facility footprint. Restructuring costs incurred during the three and nine months ended September 30, 2025 and 2024 include employee severance and asset-related and facility closure costs, including non-cash asset write-offs, which are recorded in Restructuring and related charges, net in the Company’s Condensed Consolidated Statements of Operations.

Activity in the Company’s accrual for its restructuring program and facility closure actions are as follows:


Accrued restructuring as of December 31, 2024	$	2,297
Severance costs	28,378
Asset-related and facility closure charges	2,750
Cash payments	(21,671)
Reductions against the reserve	(2,236)
Currency translation adjustments	199
Accrued restructuring as of September 30, 2025	$	9,717

The total liability related to the restructuring program and facility closure actions was $9.7 million as of September 30, 2025, which consisted of $4.8 million recognized in Accrued restructuring in the Condensed Consolidated Balance Sheets and $4.9 million recognized in Other non-current liabilities in the Condensed Consolidated Balance Sheets. The total liability was $2.3 million as of December 31, 2024, which was recognized in Accrued restructuring in the Condensed Consolidated Balance Sheets.

In connection with the plans for closure of certain manufacturing and non-manufacturing facilities, the Company has made available for sale certain facilities and properties. As of September 30, 2025, the Company classified properties in the Americas segment with an aggregate book value of approximately $1.2 million as held-for-sale. These assets are recorded in Prepaid expenses and other current assets in the Company’s Condensed Consolidated Balance Sheets. The Company expects to complete the sale of these properties over the next 12 months. During the nine months ended September 30, 2025, the Company completed the sale of certain property previously classified as held for sale for a gain of $2.2 million, which is recorded in Other (expense) income, net in the Company’s Condensed Consolidated Statements of Operations.