Restructuring (Tables)

9 Months Ended

Sep. 30, 2026

The following table summarizes the pre-tax charges by activity and program during the periods indicated:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Severance and related benefit costs
Value Creation Plan	$2.5	$7.2	$21.6	$32.5
Segment Optimization	–	–	–	0.3
Exit and disposal costs
Value Creation Plan	2.0	0.7	3.3	1.5
Restructuring costs	$4.5	$7.9	$24.9	$34.3

The following table summarizes the pre-tax charges by program and segment during the periods indicated:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Academia & Government
Value Creation Plan	$3.2	$3.3	$11.5	$19.9
Intellectual Property
Value Creation Plan	1.9	4.4	13.4	12.4
Segment Optimization	–	–	–	0.3
Total IP	1.9	4.4	13.4	12.7
Unallocated corporate costs(1)	(0.6)	0.2	–	1.7
Restructuring costs	$4.5	$7.9	$24.9	$34.3

(1)See Note 12 - Segment Information for a description of unallocated corporate costs.

The table below summarizes the changes in our restructuring reserves by activity during the periods indicated:


	Severance and related benefit costs	Exit and disposal costs	Total
Reserve balance as of December 31, 2025	$6.0	$–	$6.0
Expenses recorded	21.6	3.3	24.9
Payments made	(25.7)	(2.0)	(27.7)
Noncash items	(0.1)	(0.1)	(0.2)
Reserve balance as of September 30, 2026	$1.8	$1.2	$3.0

Reserve balance as of December 31, 2024	$1.7	$–	$1.7
Expenses recorded	32.8	1.5	34.3
Payments made	(25.9)	(0.9)	(26.8)
Noncash items	(2.6)	–	(2.6)
Reserve balance as of September 30, 2025	$6.0	$0.6	$6.6