Restructuring and Related Activities

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

The Company records restructuring liabilities that represent nonrecurring charges in connection with simplifying certain organizational structures and operations. Restructuring costs incurred during the three months ended March 31, 2026 and 2025 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. Restructuring activity primarily consists of the following programs:

2026 Global Business Transformation Program

In 2026, the Company initiated a global business transformation program (the “2026 program”), encompassing several strategic transformation and restructuring initiatives. The 2026 program primarily involves simplifying the organizational structure of legal entities, projects associated with information technology infrastructure initiatives, the optimization of specific product portfolios through targeted rationalization efforts, the optimization of certain supply chain activities and related workforce reductions. The 2026 program began in the first quarter of 2026 and is expected to be complete in 2028. Costs relating to employee termination benefits costs and asset related charges are expected to be recognized in Restructuring and related charges, net in the Company’s Condensed Consolidated Statements of Operations. Costs relating to other transformation initiatives described above are expected to be recognized within SG&A and Cost of goods sold in the Company’s Condensed Consolidated Statements of Operations.

As of March 31, 2026, the 2026 program included approximately 20 headcount reductions globally. The Company recorded $4.4 million of restructuring and related charges relating to the program during the three months ended March 31, 2026.

2022 Global Cost and Optimization Program

In 2022, the Company initiated a global cost and optimization program (the “2022 program”) to improve its cost structure and drive a more profitable and productive organization. As of March 31, 2026, the 2022 program included restructuring and associated severance costs to reduce headcount by approximately 440 positions globally. In addition, the Company took actions to optimize its facility footprint under this program. These actions are expected to be substantially complete by the end of 2026.

The Company recorded $3.0 million and $14.6 million of restructuring and related charges relating to the 2022 program during the three months ended March 31, 2026 and 2025, respectively.

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


	2022 Program		2026 Program		Total
Accrued restructuring as of December 31, 2025	$	8,351	$	—	$	8,351
Severance costs	1,336		3,168		4,504
Asset-related and facility closure charges	1,663		1,214		2,877
Cash payments	(2,913)		(967)		(3,880)
Reductions against the reserve	(1,017)		(1,214)		(2,231)
Currency translation adjustments	(139)		—		(139)
Accrued restructuring as of March 31, 2026	$	7,281	$	2,201	$	9,482

In connection with the plans for the closure of certain manufacturing and non-manufacturing facilities, the Company has made available for sale certain facilities and properties. As of March 31, 2026, 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.