Selling, general and administrative expense - Selling, general and administrative expense increased $2.4 million, or 4%, in the second quarter of 2026 compared to the second quarter of 2025, as the unfavorable impact of changes in currency exchange rates and higher distribution costs more than offset cost savings realized from the fourth quarter of 2025 restructuring.

filing / Aug 5, 2026 / receipt

Selling, general and administrative expense - Selling, general and administrative expense increased $4.4 million, or 4%, in the first six months of 2026 compared to the first six months of 2025, as the unfavorable impact of changes in currency exchange rates and slightly higher distribution costs more than offset cost savings realized from the fourth quarter of 2025 restructuring.

filing / Aug 5, 2026 / receipt

The cost-reduction initiatives implemented during the fourth quarter of 2025, including workforce reductions and other measures designed to align our cost structure with current demand levels, continue to benefit our operating results in 2026.

filing / Aug 5, 2026 / receipt

During the fourth quarter of 2025, we recognized an aggregate $ 10.3 million charge related to these workforce reductions.

filing / Aug 5, 2026 / receipt

Cost of sales and gross margin - Cost of sales increased by $43.5 million, or 11%, in the first quarter of 2026 compared to the first quarter of 2025 due to the effects of a 4% increase in sales volumes and the unfavorable impact from changes in currency exchange rates, partially offset by lower production costs driven primarily by the cost reduction initiatives as well as lower raw material and energy costs.

filing / May 6, 2026 / receipt

During the fourth quarter of 2025, we implemented cost reduction initiatives, including workforce reductions and other measures, to permanently improve our cost structure and enable more efficient operation of our facilities at lower production rates for extended periods.

filing / May 6, 2026 / receipt

During the fourth quarter of 2025, we recognized an aggregate $ 10.3 million charge related to these workforce reductions.

filing / May 6, 2026 / receipt

Accrued severance costs 8.8 7.1 Operating lease liabilities 4.2 3.9 Other 65.0 52.9 Total $ 354.4 $ 296.8 See Note 15 for additional information related to accrued severance costs.

filing / May 6, 2026 / receipt