Annual report pursuant to Section 13 and 15(d)

Restructuring (Tables)

v3.24.0.1
Restructuring (Tables)
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve by Type of Cost
The Company’s restructuring expenses are comprised of the following (in millions):
Successor
Year Ended December 31, 2023
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.1  $ 1.1  $ 1.2 
Other(1)
—  0.4  0.4 
Total $ 0.1  $ 1.5  $ 1.6 
Year Ended December 31, 2022
(in millions) Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.3  $ 1.5  $ 1.8 
Other(1)
0.5  3.7  4.2 
Total $ 0.8  $ 5.2  $ 6.0 
From October 20, 2021 through December, 31, 2021
(in millions) Cost of revenues Selling, general
 and administrative		 Total
Severance and employee costs $ 0.1  $ 0.1  $ 0.2 
Other(1)
—  1.2  1.2 
Total $ 0.1  $ 1.3  $ 1.4 
Predecessor
From July 1, 2021 through
October 19, 2021
(in millions) Cost of revenues Selling, general
 and administrative		 Total
Severance and employee costs $ —  $ 1.1  $ 1.1 
Other(1)
0.1  0.3  0.4 
Total $ 0.1  $ 1.4  $ 1.5 
For the year ended June 30, 2021
(in millions) Cost of revenues Selling, general
 and administrative		 Total
Severance and employee costs $ 2.4  $ 1.6  $ 4.0 
Other(1)
0.7  0.8  1.5 
Total $ 3.1  $ 2.4  $ 5.5 
(1) Includes facilities, inventory write-downs, outside services, legal matters, and IT costs.
Schedule of Restructuring and Related Costs
The following table summarizes restructuring expenses for each reportable segment (in millions):
Successor Predecessor
Fiscal Year Ended
December 31, 2023
Fiscal Year Ended
December 31, 2022
 From October 20, 2021 through December 31, 2021 From July 1, 2021 through
October 19, 2021		 Fiscal Year Ended
June 30, 2021
Restructuring expenses:
Medical $ 0.3  $ 3.4  $ 0.8  $ 1.4  $ 2.1 
Technologies 0.2  1.8  0.6  0.1  2.7 
Corporate and other 1.1  0.8  —  —  0.7 
Total $ 1.6  $ 6.0  $ 1.4  $ 1.5  $ 5.5 
The following table summarizes the changes in the Company’s accrued restructuring balance, which are included in Accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets (in millions).
Balance at December 31, 2022 $ 1.5 
Restructuring charges 1.6 
Payments (3.0)
Adjustments (0.1)
Balance at December 31, 2023 $ —