Company: MATV
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001000623-25-000049
Chunk: 18

Company: Mativ Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 18
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 severance and not expected to exceed $2.0 million. 

Assets held for sale of $5.0 million and $10.3 million were included in Other current assets as of June 30, 2025 and December 31, 2024, respectively. 

The following table summarizes total restructuring and other impairment expense (in millions):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Filtration and Advanced Materials(1)Severance and termination benefits$1.8 $0.7 $2.1 $3.5 Other exit costs0.4 0.5 0.8 1.0 FAM restructuring expense2.2 1.2 2.9 4.5 Sustainable and Adhesive Solutions(2)Severance and termination benefits0.2 2.1 0.4 10.1 Other exit costs— 0.9 0.1 1.0 SAS restructuring expense0.2 3.0 0.5 11.1 UnallocatedSeverance and termination benefits1.4 0.3 1.4 3.1 Other exit costs— 0.1 — 0.3 Unallocated restructuring expense1.4 0.4 1.4 3.4 Total restructuring expense3.8 4.6 4.8 19.0 Filtration and Advanced MaterialsOther impairment expense— — 5.3 — Sustainable and Adhesive SolutionsOther impairment expense— 7.2 — 7.2 Total restructuring and other impairment expense$3.8 $11.8 $10.1 $26.2 (1)Includes costs associated with facility closures announced in prior years of $0.3 million and $0.8 million for the three months ended June 30, 2025 and 2024, respectively and $0.7 million and $1.6 million for the six months ended June 30, 2025 and 2024, respectively. Through June 30, 2025, the Company has recognized accumulated restructuring and impairment charges of $11.0 million related to an ongoing facility closure. During the remainder of 2025, the Company expects to record additional restructuring costs in the FAM segment, not expected to