Company: MATV
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001000623-25-000064
Chunk: 59

Company: Mativ Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 59
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.9 0.4 0.9 %3.1 %3.1 %Nonmanufacturing expenses$240.1 $245.4 $(5.3)(2.2)%15.8 %16.1 %

Nonmanufacturing expenses of $240.1 million during the nine months ended September 30, 2025 decreased $5.3 million, or 2.2%, 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):

 Nine Months EndedSeptember 30,Percent of Net Sales20252024Change20252024Filtration & Advanced Materials$15.3 $5.2 $10.1 2.6 %0.9 %Sustainable & Adhesive Solutions1.5 28.8 (27.3)0.2 %3.1 %Unallocated expenses1.4 3.4 (2.0)Total$18.2 $37.4 $(19.2)1.2 %2.5 %

The Company incurred total restructuring and other impairment expense of $18.2 million in the nine months ended September 30, 2025 compared with $37.4 million in the prior year period. 

Restructuring and other impairment expenses in the FAM segment for the nine months ended September 30, 2025  included impairment charges of $11.3 million, along with severance and other costs associated with facility exits initiated in current and prior years. Restructuring and other impairment expenses for the nine months ended September 30, 2024 consisted of severance charges, along with costs associated with facility exits initiated in prior years. 

Restructuring and other impairment expenses in the SAS segment for the nine months ended September 30, 2025 consisted of severance charges. Restructuring and other impairment expenses for the nine months ended September 30, 2024 included severance charges, along with costs associated with facility exits initiated in prior years. 

37

Operating Profit (Loss)

The following table presents operating profit (loss) by segment (in millions):

 Nine Months