Project Momentum Restructuring - In November 2022, the Board of Directors approved a profit recovery program, Project Momentum, which includes an enterprise-wide restructuring focused on recovering operating margins, optimizing our manufacturing, distribution and global supply chain networks, and enhancing our organizational efficiency throughout the Company. In July 2023, the Company's Board of Directors approved an expansion to the Project Momentum profit recovery program and delegated authority to the Company's management to determine the final actions with respect to the plan. The expansion of this program included an additional year, which will allow for additional optimization of our battery manufacturing, distribution and global supply chain networks, further review of our global real estate footprint and the implementation of IT systems that will allow us to streamline our organization and fully execute the program.

Following the Belgium Acquisition in the first quarter of fiscal 2024, the Company expanded the Project Momentum program and increased the savings and cost expectations, partially due to the impact the expanded manufacturing capacity had on the Company's battery network. It is estimated that the Company will incur total pre-tax exit-related cash operating costs associated with the program of over $180, non-cash costs of approximately $30, and capital expenditures of $80 to $90 by the end of fiscal 2025.

The pre-tax expense for charges related to the restructuring for the quarters and nine months ended June 30, 2025 and 2024 are noted in the table below, and were reflected in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income:


	For the Quarters Ended June 30,				For the Nine Months Ended June 30,
	2025		2024			2025		2024
Project Momentum Restructuring Program
Costs of products sold
Severance and related benefit costs	$	0.1	$	1.0		$	0.3	$	1.9
Accelerated depreciation & fixed asset write-offs	—		1.3			3.3		6.0
Other restructuring related costs(1)	2.8		11.1			17.4		33.8
Selling, general and administrate expense
Severance and related benefit costs	1.6		0.5			3.7		3.3
Accelerated depreciation & fixed asset write-offs	—		0.5			0.9		1.5
Other restructuring related costs(2)	1.8		6.0			7.4		12.5
Other items, net
Entity liquidation	—		(0.7)			(0.3)		(0.7)
Gain on Sale of Assets	—		(3.7)			—		(3.7)
Momentum Restructuring Cost Total	$	6.3	$	16.0		$	32.7	$	54.6
IT enablement(3)	1.7		2.8			13.2		10.0
Total restructuring and related costs	$	8.0	$	18.8		$	45.9	$	64.6

(3) Relates to operating expenses for new IT systems, primarily the organizational design and change management costs, which are enabling the Company to complete restructuring initiatives, and a non-cash impairment of capitalized software. Costs are included in SG&A in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income.

Although the Company's restructuring costs are recorded outside of segment profit, if allocated to our reportable segments, the pre-tax restructuring and related costs for the quarter and nine months ended June 30, 2025 would be incurred within the Battery & Lights segment in the amounts of $7.1 and $41.5 respectively, and the Auto Care segment in the amount of $0.9 and $4.4, respectively. For the quarter and nine months ended June 30, 2024, the pre-tax restructuring and related costs would have been incurred within the Battery & Lights segment in the amount of $15.7 and $56.9, respectively and the Auto Care segment in the amount of $3.1 and $7.7, respectively.

The following table summarizes the restructuring and related costs reserve activity related to the Project Momentum restructuring program for the nine months ended June 30, 2024 and 2025:


					Utilized
	September 30, 2023		Charge to Income		Cash		Non-Cash		June 30, 2024
Severance & termination related costs	$	15.4	$	5.2	$	10.6	$	—	$	10.0
Accelerated depreciation & fixed asset write-offs	—		7.5		—		7.5		—
Other restructuring related costs	3.3		41.9		38.2		1.5		5.5
IT enablement	0.9		10		8.7		0.2		2.0
Total restructuring and related costs	$	19.6	$	64.6	$	57.5	$	9.2	$	17.5


					Utilized
	September 30, 2024 (1)		Charge to Income		Cash		Non-Cash		June 30, 2025 (1)
Severance & termination related costs	$	7.2	$	4.0	$	3.8	$	—	$	7.4
Accelerated depreciation & fixed asset write-offs	—		4.2		—		4.2		—
Other restructuring related costs	12.4		24.5		33.6		—		3.3
IT enablement	2.1		13.2		12.9		2.1		0.3
Total restructuring and related costs	$	21.7	$	45.9	$	50.3	$	6.3	$	11.0

(1) The restructuring and related costs reserve is recorded on the Consolidated (Condensed) Balance Sheet in Other current liabilities and Other long term liabilities. Refer to Note 14, Supplemental Financial Statement Information for additional details.