Property Losses and Associated Expenses |
9 Months Ended | ||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||
| Unusual or Infrequent Items, or Both [Abstract] | |||||||||||||||||||||||||||||||||||||
| Property Losses and Associated Expenses | Property Losses and Associated Expenses During the third week of July 2026, severe rain caused water damage to one of the Company’s facilities in India. Operations at this facility were temporarily suspended while the Company assessed the damage, completed remediation and repair activities, and restored operations. The Company concluded that certain property and equipment and inventory were damaged. The Company also incurred costs related to cleanup, repair and remediation. Accordingly, the Company recorded $5.4 million of charges related to inventory and property losses and associated cleanup, repair and remediation costs, comprised of the following (in thousands):
The Company maintains insurance coverage for property damage, inventory losses and business interruption. Insurance recoveries are recorded when realization is probable. No insurance recoveries have been recorded for the three and nine months ended September 30, 2026 in connection with this event.
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