RESTRUCTURING COSTS

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

15. RESTRUCTURING COSTS

During 2025, the Company initiated certain business restructuring activities aimed at improving operational efficiency and aligning resources with strategic priorities. These activities resulted in restructuring charges of $29.7 million for the year ended December 31, 2025, primarily related to (i) an internal reorganization, combining two complementary divisions into one and realigning its customer facing organization, which occurred in the fourth quarter of 2024, and (ii) commencing in the second quarter of 2025, workforce reductions, contract termination costs and the abandonment of certain capital equipment no longer necessary for the Company’s long-term objectives. These restructuring activities are deemed to be discrete initiatives that are different from the Company’s ongoing productivity improvements.

The charges related to these restructuring activities were recognized in the consolidated statements of operations for the year ended December 31, 2025 as follows:


	2025
(In millions)	Employee Termination Benefits		Asset Impairment Charges		Contract exit costs		Total
Cost of sales	$	4.3	$	—	$	—	$	4.3
Selling, general and administrative	6.1		11.7		4.0		21.8
Engineering, research and development	3.6		—		—		3.6
Total	$	14.0	$	11.7	$	4.0	$	29.7

Restructuring charges by reportable segment as well as unallocated corporate level charges for the year ended December 31, 2025 as follows:


	2025
(In millions)	Employee Termination Benefits		Asset Impairment Charges		Contract exit costs		Total
MS	$	4.7	$	—	$	—	$	4.7
APS	8.3		11.7		4.0		24.0
Unallocated corporate	1.0		—		—		1.0
Total	$	14.0	$	11.7	$	4.0	$	29.7