In January 2025, we announced several actions to support the long-term competitiveness of the Company and to mitigate softer market conditions. Total restructuring and related charges for this program of $23.9 million, compared to a target of approximately $20 million, were recorded through June 30, 2026, consisting of $19.4 million in Metal Cutting and $4.5 million in Infrastructure. The Company substantially completed the closure of a facility in Greenfield, MA and the consolidation of facilities in Barcelona, Spain during 2025 as a part of these actions.

During 2026, we recorded restructuring and related charges of $11.4 million, which consisted of $9.7 million in Metal Cutting and $1.7 million in Infrastructure. Of this amount, restructuring-related charges of $2.4 million were included in cost of goods sold and $0.1 million were included in operating expense. These amounts are inclusive of a reversal of restructuring and related charges of $1.0 million related to prior actions.

During 2025, we recorded restructuring and related charges of $13.3 million, which consisted of $10.4 million in Metal Cutting and $2.8 million in Infrastructure. Of this amount, restructuring-related charges of $1.3 million were included in cost of goods sold and $0.2 million were included in operating expense.

During 2024, we recorded restructuring and related charges of $12.4 million, which consisted of $8.5 million in Metal Cutting and $3.9 million in Infrastructure. These amounts are inclusive of a reversal of restructuring and related charges of $1.1 million related to prior actions, including $0.4 million in operating expense. Also included in restructuring and other charges, net during 2024 is a net benefit of $0.6 million primarily due to the sale of properties.

As of June 30, 2026, $7.5 million of the restructuring accrual is recorded in other current liabilities and $2.0 million is recorded in other liabilities in our consolidated balance sheet. As of June 30, 2025, $11.0 million of the restructuring accrual is recorded in other current liabilities and $2.4 million is recorded in other liabilities in our consolidated balance sheet. The amounts are as follows:


(in thousands)	June 30, 2025		Expense		Asset Write-Down		Translation		Cash Expenditures		June 30, 2026
Severance	$	13,394	$	8,244	$	—	$	(207)	$	(11,867)	$	9,564
Facilities	—		665		(665)		—		—		—

Total	13,394		8,909		(665)		(207)		(11,867)		9,564


(in thousands)	June 30, 2024		Expense		Asset Write-Down		Translation		Cash Expenditures		June 30, 2025
Severance	$	10,799	$	11,813	$	—	$	702	$	(9,920)	$	13,394


Total	10,799		11,813		—		702		(9,920)		13,394