v3.26.1
Costs Associated with Exit and Restructuring Activities
6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Costs Associated with Exit and Restructuring Activities

NOTE 7 – Costs Associated with Exit and Restructuring Activities

Restructuring charges are reported as a separate line within operating earnings in the Condensed Consolidated Statements of Earnings.

Total restructuring charges are as follows:

 

 

 

Three Months Ended

 

 

 

June 30, 2026

 

 

June 30, 2025

 

Restructuring charges

 

$

94

 

 

$

297

 

 

 

 

Six Months Ended

 

 

 

June 30, 2026

 

 

June 30, 2025

 

Restructuring charges

 

$

480

 

 

$

749

 

During the three months ended June 30, 2026, we incurred total restructuring charges of $94, comprised of $74 and $20 in workforce reduction costs and building and equipment relocation costs, respectively. During the six months ended June 30, 2026, we incurred total restructuring charges of $480, comprised of $460 and $20 in workforce reduction and building and equipment relocation costs, respectively. The workforce reduction charges incurred are for restructuring activities used to adjust our business in response to reduced demand across certain locations and products. Restructuring charges incurred in relation to building and equipment relocation costs and other charges are for activities intended to consolidate operations across our site locations. The remaining liability associated with our restructuring actions was $89 and $192 at June 30, 2026 and December 31, 2025, respectively.

The following table displays the restructuring liability activity included in accrued expenses and other liabilities for the six months ended June 30, 2026:

 

Restructuring liability at December 31, 2025

 

$

192

 

Restructuring charges

 

 

480

 

Costs paid

 

 

(583

)

Restructuring liability at June 30, 2026

 

$

89