Restructuring and restructuring related expenses (Tables)

3 Months Ended

Mar. 29, 2025

Restructuring and Related Activities [Abstract]

Overall costs associated with our restructuring and other restructuring-related initiatives have been recognized in the condensed consolidated statements as set forth below. Expenses incurred in relation to certain of these actions qualify as restructuring expenses under U.S. GAAP.


	Three months ended
(dollars in millions)	March 29, 2025		March 30, 2024
Restructuring expenses:
—Severance expense	$	0.1	$	(0.6)

—Professional service fees	1.3		1.0
—Other net restructuring expenses	0.2		0.8
Total restructuring expenses	1.6		1.2

Asset impairments related to restructuring	0.6		—





Total restructuring expenses and asset impairments	$	2.2	$	1.2

Other restructuring-related expenses:
—Severance and restructuring-related expenses included in cost of sales	$	1.2	$	—
—Severance and restructuring-related expenses included in SG&A	1.5		0.1
Total restructuring-related expenses	$	2.7	$	0.1

Analyzed by segment, our restructuring expenses and restructuring-related asset impairments were as follows:


	Three months ended
(dollars in millions)	March 29, 2025		March 30, 2024
Power Transmission	$	1.2	$	0.3
Fluid Power	1.0		0.9
Total restructuring expenses and asset impairments	$	2.2	$	1.2

Schedule of Restructuring Reserves Activity

The following summarizes the reserve for restructuring expenses for the three months ended March 29, 2025 and March 30, 2024, respectively:


	Three months ended
(dollars in millions)	March 29, 2025		March 30, 2024
Balance as of the beginning of the period	$	2.8	$	5.1
Utilized during the period	(1.6)		(2.7)
Charge for the period	1.7		1.9
Released during the period	(0.1)		(0.7)
Foreign currency translation	0.1		(0.1)
Balance as of the end of the period	$	2.9	$	3.5