Restructuring and Impairment

6 Months Ended

Jun. 30, 2025

Restructuring and Related Activities [Abstract]

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, 2025, the Company expects a $1.1 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, 2025
	Cost of Revenues		Selling, general and administrative		Total
Severance and employee costs	$	0.2	$	0.2	$	0.4
Other(1)	—		—		—
Total	$	0.2	$	0.2	$	0.4


	Six Months Ended June 30, 2025
	Cost of Revenues		Selling, general and administrative		Total
Severance and employee costs	$	0.2	$	0.2	$	0.4
Other(1)	—		—		—
Total	$	0.2	$	0.2	$	0.4


	Three Months Ended June 30, 2024
	Cost of Revenues		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 Revenues		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

(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 June 30, 2025		Three Months Ended June 30, 2024		Six Months Ended June 30, 2025		Six Months Ended June 30, 2024

Restructuring expenses:
Medical	$	0.3	$	2.4	$	0.3	$	2.4
Nuclear & Safety	0.1		0.5		0.1		0.5
Corporate and other	—		—		—		—
Total	$	0.4	$	2.9	$	0.4	$	2.9

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, 2024	$	0.2
Restructuring charges (excluding impairment)	0.4
Payments	(0.2)
Adjustments	—
Balance at June 30, 2025	$	0.4

Mirion Technologies, Inc. 10-Q