v3.26.1
Restructuring and Other Charges
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges Restructuring and Other Charges
During the fiscal year 2022, we initiated a cost optimization plan to improve efficiencies and align our workforce with strategic activities and operations. We anticipate concluding our restructuring activities by the end of fiscal year 2026.
The detail of restructuring costs is as follows (in millions):
Three Months Ended June 30, 2026
Type of CostsStatement of Income LocationRefiningLogisticsCorporate,
Other and Eliminations		Consolidated
Consulting fees, severance costs, and equity-based compensationGeneral and administrative expenses$— $— $6.4 $6.4 
Severance costs and equity-based compensationOperating expenses— — 4.5 4.5 
Total$— $— $10.9 $10.9 
Three Months Ended June 30, 2025
Type of CostsStatement of Income LocationRefiningLogisticsCorporate,
Other and Eliminations		Consolidated
Consulting fees, severance costs, and equity-based compensationGeneral and administrative expenses$— $— $22.1 $22.1 
Severance costs and equity-based compensationOperating expenses— — 3.4 3.4 
Total$— $— $25.5 $25.5 
Six Months Ended June 30, 2026
Type of CostsStatement of Income LocationRefiningLogisticsCorporate,
Other and Eliminations		Consolidated
Consulting fees, severance costs, and equity-based compensationGeneral and administrative expenses$— $— $8.1 $8.1 
Severance costs and equity-based compensationOperating expenses— — 5.5 5.5 
Total$— $— $13.6 $13.6 
Six Months Ended June 30, 2025
Type of CostsStatement of Income LocationRefiningLogisticsCorporate,
Other and Eliminations		Consolidated
Consulting fees, severance costs and equity-based compensationGeneral and administrative expenses$— $— $29.6 $29.6 
Severance costs and equity-based compensationOperating expenses0.3 — 4.0 4.3 
Total$0.3 $— $33.6 $33.9 
Accumulated Restructuring Costs
The following table summarizes (in millions) the restructuring costs recognized in the Company's condensed consolidated statements of income since inception of the restructuring plan in fiscal year 2022 through the period ended June 30, 2026, excluding discontinued operations:
Type of CostsStatement of Income LocationRefiningLogisticsCorporate,
Other and Eliminations		Total
Consulting fees, severance costs, and equity-based compensationGeneral and administrative expenses$0.5 $0.4 $112.3 $113.2 
OtherCost of materials and other1.7 — — 1.7 
Severance costs and equity-based compensationOperating expenses0.8 — 26.6 27.4 
ImpairmentAsset impairment22.1 — 32.3 54.4 
Pension settlementPension settlement— — 2.1 2.1 
Asset write-offOther operating (income) loss, net14.4 — 0.3 14.7 
Total$39.5 $0.4 $173.6 $213.5 
Restructuring Costs Liability Roll-forward:
The following table presents the movement of the restructuring liability, within the condensed consolidated balance sheets (in millions):
Type of CostsStatement of Income LocationBalance at December 31, 2025ExpensePaymentsOtherBalance at June 30, 2026
Consulting fees, severance costs, and equity-based compensationGeneral and administrative expenses$0.2 $8.1 $(2.0)$(1.7)$4.6 
Severance costs and equity-based compensationOperating expenses— 5.5 — (1.0)4.5 
Total$0.2 $13.6 $(2.0)$(2.7)$9.1