Restructuring and related activities are designed to better align the Company's operations with current market conditions through targeted facility consolidations, headcount reductions, and other measures to further optimize operations.

The Company recorded restructuring charges of $0.2 million during the three months ended March 31, 2026, primarily related to headcount reductions within the PD segment. The Company recorded charges of $0.1 million within Gross profit and $0.1 million within Operating expenses for the three months ended March 31, 2026.

The Company recorded restructuring charges of $2.9 million during the three months ended March 31, 2025, related to headcount reductions across the Company to rightsize operating expenses subsequent to the sale of CMM. The Company recorded charges of $0.5 million within Gross profit and $2.4 million within Operating expenses for three months ended March 31, 2025.

The following table details restructuring charges incurred by reportable segment for the periods presented:


	Three Months Ended March 31,
(in millions)	2026		2025
Precision Devices	$	0.4	$	1.4
MedTech & Specialty Audio	—		0.3

Corporate	(0.2)		1.2
Total	$	0.2	$	2.9

The following table details the Company’s severance and other restructuring accrual activity:


(in millions)	Severance Pay and Benefits		Contract Termination and Other Costs		Total
Balance at December 31, 2025	$	1.2	$	4.8	$	6.0

Restructuring charges	0.4		(0.2)		0.2
Payments	(0.6)		(4.6)		(5.2)

Balance at March 31, 2026	$	1.0	$	—	$	1.0

All severance and restructuring accruals are reflected within "Other accrued expenses" on the Consolidated Balance Sheet at both March 31, 2026 and December 31, 2025.