Quarterly report pursuant to Section 13 or 15(d)

Restructuring and Impairment

v3.24.2.u1
Restructuring and Impairment
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Restructuring and Impairment
The Company incurs costs associated with restructuring initiatives intended to improve operating performance, profitability, and working capital levels. Actions associated with these initiatives may include improving productivity, workforce reductions, and the consolidation of facilities.
As of June 30, 2024, the Company expects a $0.3 million impact of additional charges from restructuring actions in the next 12 months.
The Company’s restructuring expenses are comprised of the following (in millions):
Three Months Ended June 30, 2024
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.5  $ 0.7  $ 1.2 
Other(1)
—  1.7  1.7 
Total $ 0.5  $ 2.4  $ 2.9 
Six Months Ended June 30, 2024
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.5  $ 0.7  $ 1.2 
Other(1)
—  1.7  1.7 
Total $ 0.5  $ 2.4  $ 2.9 

Three Months Ended June 30, 2023
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.1  $ —  $ 0.1 
Other(1)
—  0.2  0.2 
Total $ 0.1  $ 0.2  $ 0.3 

Six Months Ended June 30, 2023
Cost of Revenue Selling, general and administrative Total
Severance and employee costs $ 0.1  $ 1.2  $ 1.3 
Other(1)
—  0.4  0.4 
Total $ 0.1  $ 1.6  $ 1.7 
(1) Includes facilities, inventory write-downs, outside services, legal matters, and IT costs.
The following table summarizes restructuring expenses for each reportable segment (in millions):
Three Months Ended Six Months Ended
June 30, June 30,
2024 2023 2024 2023
Restructuring expenses:
Medical $ 2.4  $ —  $ 2.4  $ 0.3 
Technologies 0.5  0.1  0.5  0.2 
Corporate and other —  0.2  —  1.2 
Total $ 2.9  $ 0.3  $ 2.9  $ 1.7 
The following table summarizes the changes in the Company’s accrued restructuring balance for severance and employee costs, which are included in Accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets (in millions).
Balance at December 31, 2023 $ — 
Restructuring charges (excluding impairment) 1.2 
Payments (0.5)
Adjustments — 
Balance at June 30, 2024 $ 0.7