Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 19

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 19
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 exceed $1.0 million related to the closure of this facility.(2)Includes costs associated with facility closures announced in prior years of $0.8 million and $1.7 million for the three and six months ended June 30, 2024, respectively, related to facilities closed in prior years. 

18

MATIV HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

The following table summarizes changes in restructuring liabilities (in millions):  20252024Balance at beginning of the period$2.2 $3.8 Charges for restructuring programs4.8 19.0 Cash payments and other(3.1)(18.0)Balance at end of the period$3.9 $4.8 

Restructuring liabilities were classified within Accrued expenses and other current liabilities and Other liabilities in the unaudited Condensed Consolidated Balance Sheets.

Note 9. Debt

Total debt, net of debt issuance costs, is summarized in the following table (in millions):June 30, 2025December 31, 2024Revolving facility - U.S. dollar borrowings$235.0 $237.0 Term loan A facility83.3 83.3 Term loan B facility116.5 116.5 Delayed draw term loan270.1 270.1 8.000% Senior unsecured notes due October 1, 2029400.0 400.0 German loan agreement5.1 5.9 Debt issuance costs(19.4)(23.5)Total debt1,090.6 1,089.3 Less: Current debt(2.9)(2.6)Total long-term debt$1,087.7 $1,086.7 

Credit Facility On September 25, 2018, the Company entered into a $700.0 million credit agreement (the "Credit Agreement"), which replaced the Company’s previous senior secured credit facilities and provides for a five-year $500.0 million revolving line of credit (the "Revolving Credit Facility") and a seven-year $200.0 million bank term loan facility (the "Term Loan A Facility"). Subject to certain conditions, including the absence of a default or event of default under the Credit Agreement, the Company may request incremental loans to be extended under the