Restructuring and Related Activities

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Plant Optimization Activities

During the second half of 2024, we took specific steps to consolidate our footprint by identifying two manufacturing facilities to close due to volume rationalization which will reduce costs and improve operational efficiency. In January 2025, we ceased production activities at our Mobile Solutions plant in Juarez, Mexico, and in March 2025 we ended production activity at our Mobile Solutions plant in Dowagiac, Michigan. In addition, we implemented operational and cost optimization actions to reduce indirect and overhead costs.

As of June 30, 2025, we substantially completed the facility closures and organizational changes. We estimate incurring $13.6 million in charges and once fully implemented, we expect to recognize annual benefits of approximately $5.4 million. We have recognized cumulative costs of $13.4 million, with $5.5 million recognized in the “Cost of sales” line, $1.4 million in the “Selling, general, and administrative expense” line, and $6.5 million in the “Other expense (income), net” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). All costs incurred have been recognized in the Mobile Solutions segment.

The following is a summary of costs incurred and amounts accrued during the three months ended June 30, 2025.

	Severance and employee related		Impairment of property and equipment		Costs associated with exit or disposal activities		Total
Balance as of December 31, 2023	$	—	$	—	$	—	$	—
Restructuring costs	3,267		6,546		2,787		12,600
Amounts paid	(581)		—		(257)		(838)
Charges against assets	—		(6,546)		(2,530)		(9,076)
Balance as of December 31, 2024	$	2,686	$	—	$	—	$	2,686
Restructuring costs	380		—		401		781
Amounts paid	(2,195)		—		(401)		(2,596)
Balance as of June 30, 2025	$	871	$	—	$	—	$	871

Voluntary Early Retirement Program

During the six months ended June 30, 2025, we recognized $0.4 million related to an early retirement incentive program (“ERIP”) that was open to certain U.S. employees that met specified age and service requirements, and who terminated employment in 2025. The estimated total cost of the ERIP, including costs recognized in 2024, is $1.6 million with all benefit payments expected to be made in 2025.