Restructuring

3 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

During the fourth quarter of fiscal 2024, the Company initiated restructuring programs focused primarily on the Company's engineering and tooling operations in Europe, and certain of the Company's general and administrative functions. Total estimated restructuring costs for these programs are currently expected to be approximately $42,000, of which $39,500 relates to severance and employee termination benefits, and $2,500 relates to other exit and disposal activities. These restructuring activities are expected to be completed in fiscal 2026.

The following table sets forth amounts recognized by the Company in connection with its restructuring programs:


Restructuring amounts by line item in the Statement of Income (a)	Three Months Ended December 31,
		2025		2024
Cost of sales		$	(1,519)	$	(601)

Administrative expense		(4)		288
Income (loss) before income taxes		$	(1,523)	$	(313)

(a) Positive amounts represent income and negative amounts represent expense.

The costs associated with the Company's restructuring programs principally relate to severance and employee termination benefits. The following table provides a summary of the severance and employee termination restructuring activities for the three-month period ended December 31, 2025.

Note 10. Restructuring (continued)


	Severance and Employee Termination Restructuring Activities
	Memorialization		Industrial Technologies		Brand Solutions		Corporate/Non-Operating		Consolidated

Liability at September 30, 2025	$	2	$	942	$	—	$	219	$	1,163
Amounts charged (credited) to expense	—		1,513		—		—		1,513
Net cash payments	—		(1,680)		—		(136)		(1,816)
Other adjustments(1)	(2)		—		—		(83)		(85)

Liability at December 31, 2025	$	—	$	775	$	—	$	—	$	775

Cumulative severance and employee termination costs incurred to date(2)	$	181	$	33,674	$	1,720	$	4,441	$	40,016

(1) Other adjustments primarily reflects reclassifications of certain balance sheet amounts.

(2) Substantially all estimated severance and employee termination costs related to the restructuring programs have been recognized as of December 31, 2025.

The severance and employee termination liability is included in accrued compensation in the accompanying Consolidated Balance Sheets. The restructuring programs initiated in fiscal 2024 that were focused primarily on the Company's engineering and tooling operations in Europe, and certain of the Company's general and administrative functions have been substantially completed as of December 31, 2025.

MATTHEWS INTERNATIONAL CORP 10-Q