Company: NOTV
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001628280-25-004178
Chunk: 127

Company: Inotiv, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part II, Item 8
Chunk 127
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 of December 31, 2024, the funded status of the defined benefit plan obligation of $2,986 is included in other assets (non-current) in the condensed 

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consolidated balance sheets. Net periodic expense is included in the condensed consolidated statements of operations in general and administrative expenses.The following table provides the components of net periodic benefit costs for the Pension Plan, which is included in general and administrative expenses in the condensed consolidated statements of operations.Three Months EndedDecember 31,20242023Components of net periodic expense:Interest cost$178 $181 Expected return on assets(221)(192)Amortization of prior loss(23)(35)Net periodic expense$(66)$(46)

7.    OTHER OPERATING EXPENSE

Other operating expense consisted of the following:Three Months EndedDecember 31,2024 2023Acquisition and integration costs$— $70 Restructuring costs 1224 1,034 Startup costs559 830 Remediation costs— 283 Other costs1,294 1,102 $2,077 $3,319 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.

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 ("Phase One"). As of September 30, 2024, Phase One of the Company's restructuring and site optimization plans was complete.During the three months ended December 31, 2024, the Company initiated the next phase of its site optimization program to further improve and consolidate additional RMS facilities in the U.S. ("Phase Two"). In connection with Phase Two, one U.S. site met the held for sale criteria as of December 31, 2024. The assets held for sale consist of land and buildings, which are a part of the RMS operating