Restructuring and Loss (Gain) On Disposal Of Assets And Costs From Exit And Disposal Activities |
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| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Loss (Gain) On Disposal Of Assets And Costs From Exit And Disposal Activities | RESTRUCTURING AND LOSS (GAIN) ON DISPOSAL OF ASSETS AND COSTS FROM EXIT AND DISPOSAL ACTIVITIES In fiscal 2026, the Company undertook certain restructuring and realignment activities (the “2026 Restructuring Plan”) to optimize the Company’s production, recycling and distribution network and to plan and implement go-to-market and operating model enhancements to scale for future growth, including the integration of NDS. Under the 2026 Restructuring Plan, for the fiscal year ended March 31, 2026, the Company recorded expense of $48.3 million related to the optimization of the Company’s production, recycling and distribution networks, including the closure of four facilities and changes to the Company’s production footprint. The Company does not currently have an estimate of additional costs or an expected end date for the restructuring actions. The following table summarizes the activities included in Restructuring and realignment expense for the fiscal year ended March 31, 2026:
The costs incurred under the 2026 Restructuring Plan to date are classified as operating expenses and allocated to the Stormwater segment. During the fiscal year ended March 31, 2026, the Company recorded accelerated depreciation, severance costs, impairment of right-of-use lease assets and other exit and disposal costs. Other exit and disposal activities include legal and professional fees, inventory and equipment transfer costs and other costs. The following table summarizes the restructuring liability for the periods presented:
The restructuring liability is recorded in Other accrued liabilities in the Company’s Consolidated Balance Sheet. Loss (Gain) on Disposal of Assets - The Company recorded $17.0 million gain on disposal of assets in the fiscal year ended March 31, 2026. The sale of properties previously held-for-sale resulted in the gain of $18.1 million. The remaining balance is due to the sale or disposal of other property, plant and equipment. For the year ended March 31, 2025, the Company recorded a $3.9 million loss primarily due to the closure of a plant and other asset disposals. On March 25, 2024, the Company completed its divestiture of substantially all of its Paper Recycling business to a third party purchaser for cash consideration of $7.5 million. The Company recognized a loss on the sale of $2.0 million in the Consolidated Statements of Operations. Prior to the divestiture, the Company recorded the results of operations in the Stormwater reportable segment. On April 14, 2023, the Company completed its divestiture of substantially all of the assets of Spartan Concrete, Inc. to a third party purchaser for consideration of $20.0 million. The Company recognized a gain on the sale of $14.9 million in the Consolidated Statements of Operations. Prior to the divestiture, the Company recorded the results of operations in the Stormwater reportable segment.
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