v3.26.1
Note 15 - Commitments and Contingencies
 6 Months Ended
Jun. 28, 2026
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

15.     Commitments and Contingencies

 

Committed and uncommitted banking facilities

 

The Company had committed banking facilities of $125.0 million at  June 28, 2026 and December 31, 2025. Of these committed facilities, $59.2 million was drawn at  June 28, 2026 and $15.3 million at  December 31, 2025. The Company also had an additional $25.0 million of uncommitted facilities through an accordion provision at  June 28, 2026 and December 31, 2025.

 

 

 

Uncommitted Facilities

 

 

 

June 28, 2026

 

 

December 31, 2025

 

 

 

Facility

 

 

Drawn

 

 

Facility

 

 

Drawn

 

Bond and Guarantees

 

$0.7

 

 

$0.2

 

 

$0.7

 

 

$0.2

 

Letters of Credit

 

 

6.0

 

 

 

2.8

 

 

 

6.0

 

 

 

3.5

 

Overdraft

 

 

8.0

 

 

 

—

 

 

 

8.0

 

 

 

—

 

Accordion

 

 

25.0

 

 

 

—

 

 

 

25.0

 

 

 

—

 

 

 

$39.7

 

 

$3.0

 

 

$39.7

 

 

$3.7

 

 

Contingencies

 

In December 2023, it was established that any potential liability arising from the lawsuits and reasonable defense costs related to the previously disclosed US Ecology case are covered by insurance. The Company recognized $7.7 million in the twelve months of 2024, in relation to recovery of these costs previously incurred by the Company. $5.8 million cash was received in 2024 with a further $1.9 million received in 2025.


In April 2025, the Office of Defects Investigation (ODI) of the National Highway Traffic Safety Administration (NHTSA) opened a Preliminary Evaluation to investigate allegations of compressed natural gas (CNG) fuel leaks in certain CNG fuel systems, equipped with certain Luxfer Type 4 CNG fuel containers. Luxfer is fully co-operating with this Preliminary Evaluation, which has a range of potential outcomes, and at this stage Luxfer is not able to estimate the potential financial impact. Luxfer does not believe that this alleged issue poses an unreasonable risk to motor vehicle safety.


In July 2025, in accordance with the Luxfer Graphic Arts sale agreement, the Company has fully indemnified the purchaser for certain identified environmental matters relating to the Madison Illinois site, which we estimate will cost approximately $1.0 million to close out. A provision for these obligations has been recognized and is included within other current liabilities in the Consolidated Balance Sheet. Additionally, we have provided indemnification for any unidentified environmental matters that may have occurred between 2003 (the year of the original acquisition by Luxfer) and July 2025, capped at $10.0 million and / or 5 years.

 

Also, in 2025, the Company recognized a provision of $3.1 million in relation to dilapidation obligations associated with the former Superform U.K. site sold in 2021, for which the Group remains a guarantor under the relevant lease arrangements following disposal of the business. The obligation reflects management’s best estimate of the costs required to settle the remaining property reinstatement and exit obligations.