Restructuring and Related Activities |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 29, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities Disclosure | 11. RESTRUCTURING ACTIVITIES In Q2 2026, we initiated a series of restructuring actions in EMEA as a cost savings plan in response to shifts in customer demand, changes in product mix, and ongoing economic pressures. These actions involve the voluntary and involuntary terminations of approximately 85 to 95 salaried employees. We expect to incur restructuring costs of approximately $13 to $15 in the International segment related to these actions, consisting of cash severance payments, other separation-related benefits, and other related costs. We incurred restructuring costs of $8.5 for these actions in Q2 2026. We expect these actions to be complete in 2027. In Q2 2026, we initiated a series of restructuring actions in Asia Pacific to consolidate our real estate footprint in order to optimize operating efficiencies to align with market demands. These actions involve the involuntary terminations of approximately 35 salaried employees and approximately 125 hourly employees. We expect to incur restructuring costs of approximately $6 to $7 in the International segment related to these actions, consisting of cash severance payments, other separation-related benefits, and other related costs. We incurred restructuring costs of $1.3 related to employee termination costs and $0.4 related to the impairment of right-of-use operating lease assets for these actions in Q2 2026. We expect these actions to be substantially complete by the end of 2026. In Q1 2026, we initiated restructuring actions in the Americas to prioritize investments in our strategic initiatives and growth areas. These actions involve the terminations of approximately 85 salaried employees. We expect to incur restructuring costs of approximately $10 to $12 in the Americas segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred restructuring costs of $1.6 and $9.1 for these actions in Q2 2026 and Q1 2026, respectively. These restructuring actions are substantially complete. In Q1 2025, we initiated restructuring actions to close a regional distribution center in EMEA. These actions involve the terminations of approximately 20 employees. We expect to incur restructuring costs of approximately $3 in the International segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred restructuring costs of $2.8 for these actions in 2025. These actions are substantially complete. In Q1 2024, we announced a series of restructuring actions in response to continued decline in order volume, persisting inflationary pressures, and decreasing plant utilization. These actions involved the terminations of approximately 40 to 50 salaried employees in EMEA, the elimination of approximately 240 positions in Asia Pacific, and the terminations of approximately 30 employees in the Americas in connection with the closing of our regional distribution center in Atlanta, Georgia. We expect to incur total restructuring costs of approximately $16 to $18 in the International segment and approximately $1 in the Americas segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred restructuring costs of $0.1 in the International segment for these actions in Q2 2026 and in Q1 2026. We recorded a net benefit of $0.8 in the International segment in 2025 due to a reduction in the expected costs for employee exits. We previously incurred restructuring costs of $16.3 in the International segment and $0.5 in the Americas segment for these actions prior to 2025. These actions are substantially complete. The following table details the changes in the restructuring reserve balance for the six months ended August 29, 2025:
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