Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 129

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 129
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 AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

has recognized accumulated restructuring and other impairment charges of $5.7 million related to the facility closures. Restructuring and other impairment expenses in the SAS segment, excluding costs associated with the Plan included  $16.2 million of impairment charges, for the twelve months ended December 31, 2024, respectively, to fully impair the net assets at our Eerbeek, Netherlands facility, which was sold in the fourth quarter of 2024. The impairment assessment was performed after revising our long-term view on cash flows associated with the facility. The remaining restructuring and other impairment expenses were primarily related to a facility closure announced in a prior year, the sale of which was completed during 2024.Assets held for sale of $10.3 million were included in Other current assets as of December 31, 2024. Assets held for sale of $14.2 million and $2.2 million were included in Other current assets and Other assets as of December 31, 2023, respectively. The following table summarizes total restructuring and other impairment expense (in millions):Year Ended December 31,202420232022Filtration and Advanced MaterialsSeverance and termination benefits$3.8 $0.1 $0.5 Other exit costs1.8 2.7 1.2 FAM restructuring expense5.6 2.8 1.7 Sustainable and Adhesive SolutionsSeverance and termination benefits10.6 — 1.3 Other exit costs2.3 1.1 1.3 SAS restructuring expense12.9 1.1 2.6 UnallocatedSeverance and termination benefits3.4 — — Other exit costs— 0.1 0.8 Unallocated restructuring expense3.4 0.1 0.8 Total restructuring expense$21.9 $4.0 $5.1 Filtration and Advanced MaterialsOther impairment expense$— $— $13.0 Sustainable and Adhesive SolutionsOther impairment expense16.2 18.3 0.2 UnallocatedOther impairment expense— 0.3 0.8 Total restructuring and other impairment expense$38.1 $22.6 $19.1 The following table summarizes changes in restructuring liabilities (in millions):