v3.25.2
Restructuring
6 Months Ended
Jun. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring
10.
Restructuring

The following table presents restructuring costs by segment as included within the Company’s consolidated statements of operations for the periods reported (in millions):

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenues:

 

 

 

 

 

 

 

 

 

 

 

 

BSI BioSpin

 

$

0.2

 

 

$

0.2

 

 

$

1.2

 

 

$

0.3

 

BSI CALID

 

 

0.6

 

 

 

0.8

 

 

 

1.8

 

 

 

0.8

 

BSI NANO

 

 

3.6

 

 

 

3.9

 

 

 

4.0

 

 

 

7.5

 

Total Cost of revenues

 

$

4.4

 

 

$

4.9

 

 

$

7.0

 

 

$

8.6

 

Other charges, net:

 

 

 

 

 

 

 

 

 

 

 

 

BSI BioSpin

 

$

(2.5

)

 

$

0.2

 

 

$

3.3

 

 

$

0.2

 

BSI CALID

 

 

2.2

 

 

 

(0.1

)

 

 

3.2

 

 

 

(0.1

)

BSI NANO

 

 

2.0

 

 

 

1.1

 

 

 

2.8

 

 

 

4.0

 

Corporate

 

 

1.2

 

 

 

 

 

1.2

 

 

 

0.6

 

Total Other charges, net

 

$

2.9

 

 

$

1.2

 

 

$

10.5

 

 

$

4.7

 

Total

 

$

7.3

 

 

$

6.1

 

 

$

17.5

 

 

$

13.3

 

The following table sets forth the changes in restructuring reserves, excluding costs of $3.8 million for scrapping expired or expiring inventory, for the periods reported (in millions):

 

 

Total

 

 

Severance

 

 

Exit Costs

 

Balance at December 31, 2024

 

$

7.2

 

 

$

4.6

 

 

$

2.6

 

Restructuring charges

 

 

13.7

 

 

 

11.6

 

 

 

2.1

 

Cash payments

 

 

(12.1

)

 

 

(7.8

)

 

 

(4.3

)

Other, non-cash adjustments and foreign currency effect

 

 

0.9

 

 

 

0.8

 

 

 

0.1

 

Balance at June 30, 2025

 

$

9.7

 

 

$

9.2

 

 

$

0.5

 

 

Bruker Cellular Analysis restructuring plan: During the three months ended June 30, 2025 and 2024, in connection with the Bruker Cellular Analysis restructuring plan, the Company recorded and accrued severance and termination charges of $0.7 million and $2.6 million, respectively, and made payments of $0.7 million and $3.7 million, respectively. During the six months ended June 30, 2025 and 2024, in connection with the Bruker Cellular Analysis restructuring plan, the Company recorded and accrued severance and termination charges of $1.2 million and $6.5 million, respectively, and made payments of $3.7 million and $10.7 million, respectively. As it relates to the consolidation of leased BCA facilities, the Company recorded an impairment charge against operating lease right of

use assets of $0.3 million and $1.5 million in the three and six months ended June 30, 2024, respectively. The Company did not have similar charges during the three and six months ended June 30, 2025. During the three and six months ended June 30, 2025, in connection with the Bruker Cellular Analysis restructuring plan, the Company charged $2.5 million to product restructuring costs due to scrapping of expired or expiring inventories. During the three and six months ended June 30, 2024, in connection with the Bruker Cellular Analysis restructuring plan, the Company charged $1.9 million and $4.7 million, respectively, to product restructuring costs due to scrapping of expired or expiring inventories. Refer to Note 12, Restructurings and Asset Impairments of the Annual Report on Form 10-K for the year ended December 31, 2024 for further information on this restructuring plan.

 

Corporate wide and other restructuring plans: The Company has previously incurred charges related to restructuring actions impacting the reportable segments at various locations across North America, Europe, and Asia. This includes workforce right-sizing actions resulting in severance and transition costs, costs related to the consolidation of facilities resulting in asset impairment, and accelerated depreciation charges. In the second quarter of 2025, the Company initiated a corporate-wide restructuring program to be implemented across multiple functions and geographies to address challenges in the current business environment. We anticipate additional restructuring charges in the third and fourth quarter of 2025 with activities under these plans expected to be completed by 2026.