Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 57

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 57
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30, Percent ChangePercent of Net Sales20252024Change20252024Selling and general expense$120.5 $126.7 $(6.2)(4.9)%11.9 %12.4 %Research and development expense13.0 11.8 1.2 10.2 %1.3 %1.2 %Intangible asset amortization expense31.3 31.5 (0.2)(0.6)%3.1 %3.1 %Nonmanufacturing expenses$164.8 $170.0 $(5.2)(3.1)%16.3 %16.6 %

Nonmanufacturing expenses of $164.8 million during the six months ended June 30, 2025 decreased $5.2 million, or 3.1%, compared to the prior year period primarily due to lower selling and general expense, as a result of actions taken under the Plan, partially offset by $5.9 million incurred during the first quarter of 2025 related to our previously disclosed Chief Executive Officer transition. 

Restructuring and Other Impairment Expense

The following table presents restructuring and other impairment expense by segment (in millions):

 Six Months EndedJune 30,Percent of Net Sales20252024Change20252024Filtration & Advanced Materials$8.2 $4.5 $3.7 2.1 %1.1 %Sustainable & Adhesive Solutions0.5 18.4 (17.9)0.1 %3.0 %Unallocated expenses1.4 3.3 (1.9)Total$10.1 $26.2 $(16.1)1.0 %2.6 %

The Company incurred total restructuring and other impairment expense of $10.1 million in the six months ended June 30, 2025 compared with $26.2 million in the prior year period. 

Restructuring and other impairment expenses in the FAM segment for the six months ended June 30, 2025 and 2024 consisted of severance charges along with costs associated with facility closures announced in prior years.

Restructuring and other impairment expenses in the SAS segment for the six months ended June 30, 2025 consisted of severance charges. Restructuring and other impairment expenses for the six months ended June 30,