Company: NOTV
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023370
Chunk: 146

Company: Inotiv, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part II, Item 8
Chunk 146
---
 Expected return on assets(231)(197)(452)(389)Amortization of prior loss(24)(35)(47)(70)Net periodic expense$(69)$(47)$(135)$(93)

26

7.    OTHER OPERATING INCOME / EXPENSE

Other operating (income) expense consisted of the following:Three Months EndedMarch 31,Six Months EndedMarch 31,2025202420252024Acquisition and integration costs$— $— $— $70 Restructuring costs 11,009 1,368 1,233 2,402 Startup costs558 967 1,117 1,797 Remediation costs— 369 — 652 Other costs1,858 1,236 3,152 2,338 Settlement Agreement 2(7,550)— (7,550)— Resolution and Plea Agreements 3— 26,500 — 26,500 $(4,125)$30,440 $(2,048)$33,759 1Restructuring costs represent costs incurred in connection with the Company's site closures, site optimization strategy, the in-house integration of the Company’s North American transportation operations and Phase Two of the Company's site optimization program as discussed in Note 8 – Restructuring and Assets Held for Sale.2The proceeds received in connection with the settlement agreement with Freese and Nichols, Inc. (the "Settlement Agreement") offset costs incurred to dispose of excess wastewater during previous years in addition to attorneys' fees in previous years and fiscal year 2025. Refer to Note 12 - Contingencies and Commitments for further discussion of the Settlement Agreement. 3Amounts relate to the Agreement in Principle, which was subsequently replaced by the Resolution Agreement and Plea Agreement. Refer to Note 12 - Contingencies and Commitments for further discussion of the Resolution Agreement and Plea Agreement.

8.    RESTRUCTURING AND ASSETS HELD FOR SALE

During June 2022, the Company approved and announced a plan to close its facility in Cumberland, Virginia. Further, during fiscal 2023, the Company announced restructuring and site optimization plans that included the following sites, which were identified for relocation of operations: Dublin, Virginia, Gannat, France, Blackthorn, U.K., RMS St. Louis, Missouri, Spain, Boyertown, Pennsylvania, Haslett, Michigan and Israel ("