v3.25.3
Restructuring, Business Transformation and Other Cost Saving Initiatives (Tables)
9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
Total charges incurred from our 2023 Fit for Growth program are summarized as follows:
For the Three Months Ended September 30,
20252024
(In millions)Severance
Costs
Accelerated Depreciation and Other CostsTotalSeverance CostsAccumulated Depreciation and Other CostsTotal
Selling, general and administrative$— $0.4 $0.4 $— $9.1 $9.1 
Research and development— 0.5 0.5 — 3.5 3.5 
Restructuring charges7.4 — 7.4 4.6 — 4.6 
Total charges$7.4 $0.9 $8.3 $4.6 $12.6 $17.2 
For the Nine Months Ended September 30,
20252024
(In millions)Severance CostsAccelerated Depreciation and Other CostsTotalSeverance CostsAccumulated Depreciation and Other CostsTotal
Selling, general and administrative$— $(2.8)$(2.8)$— $12.5 $12.5 
Research and development— 6.9 6.9 — 10.6 10.6 
Restructuring charges41.6 — 41.6 20.2 — 20.2 
Total charges$41.6 $4.1 $45.7 $20.2 $23.1 $43.3 
Total charges incurred from our Reata integration are summarized as follows:
For the Three Months Ended September 30,
20252024
(In millions)Severance
Costs
Accelerated Depreciation and Other CostsTotalSeverance CostsAccumulated Depreciation and Other CostsTotal
Selling, general and administrative$— $1.6 $1.6 $— $1.6 $1.6 
Research and development— 3.8 3.8 — 2.9 2.9 
Restructuring charges— — — 0.7 — 0.7 
Total charges$— $5.4 $5.4 $0.7 $4.5 $5.2 
For the Nine Months Ended September 30,
20252024
(In millions)Severance CostsAccelerated Depreciation and Other CostsTotalSeverance CostsAccumulated Depreciation and Other CostsTotal
Selling, general and administrative$— $5.2 $5.2 $— $4.9 $4.9 
Research and development— 10.1 10.1 — 8.9 8.9 
Restructuring charges(0.2)— (0.2)3.2 — 3.2 
Total charges$(0.2)$15.3 $15.1 $3.2 $13.8 $17.0 
Schedule of Restructuring Reserve by Type of Cost
Charges and spending related to workforce reductions are summarized as follows:
Workforce Reductions
(In millions)20252024
Restructuring reserve as of January 1$31.9 $75.4 
Expense35.3 11.5 
Payment(25.8)(42.2)
Foreign currency and other adjustments(1.0)0.8 
Restructuring reserve as of March 3140.4 45.5 
Expense(0.7)6.6 
Payment(9.5)(11.9)
Foreign currency and other adjustments(1.0)— 
Restructuring reserve as of June 3029.2 40.2 
Expense7.4 6.8 
Payment(17.4)(4.7)
Foreign currency and other adjustments— (2.1)
Restructuring reserve as of September 30$19.2 $40.2