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Restructuring and Other Charges | 9 Months Ended
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Jun. 30, 2020
Restructuring And Related Activities [Abstract] |
Restructuring and Other Charges |
1 6. | Restructuring and Other Charges
On June 29, 2020, the Company committed to a series of restructuring activities within its Access Equipment segment. On that day, the Company announced that it would close its Medias, Romania manufacturing facility. The Company intends to relocate production to factories in the United States, Mexico and China. The Company also announced that it would close its service center in Riverside, California. Both facilities are being closed to simplify and better align operations to support customers and enable sustainable growth. The Company intends to cease all operations in Medias by June 30, 2021 and in Riverside by September 30, 2020. In addition, the Access Equipment segment initiated targeted reductions in its salaried workforce in response to the ongoing COVID-19 pandemic. The Company expects to incur restructuring charges consisting of severance costs, other post-employment-related benefits, lease impairment and accelerated depreciation of approximately $10.0 million during fiscal 2020. The Company expects another $5.3 million of restructuring costs related to these activities in fiscal 2021. On July 23, 2020, the Company committed to a series of restructuring activities within the Commercial segment. On that day, the Company announced that it will cease production of rear discharge concrete mixers at its Dodge Center, Minnesota facility and relocate it to other concrete mixer factories in North America. The Dodge Center factory will focus on refuse collection vehicle manufacturing. The Company believes both product lines will benefit from focused facilities. The Company intends to cease all concrete mixer operations in Dodge Center by December 31, 2020. In addition, the Commercial segment initiated reductions in its salaried workforce in response to the ongoing COVID-19 pandemic. The Company expects to incur restructuring charges consisting of severance costs, other post-employment-related benefits and accelerated depreciation related to the activities of approximately $9.0 million during fiscal 2020. Pre-tax restructuring charges were as follows (in millions):
|  | Three & Nine Months Ended June 30, 2020 |
|  | Cost of Sales |  |  | Selling, General and Administrative Expenses |  |  | Total |
Access Equipment |  | $ | 2.6 |  |  | $ | 5.0 |  |  | $ | 7.6 |
Commercial |  |  | 0.7 |  |  |  | 0.8 |  |  |  | 1.5 |
Fire & Emergency |  |  | 0.3 |  |  |  | 0.8 |  |  |  | 1.1 |
Total |  | $ | 3.6 |  |  | $ | 6.6 |  |  | $ | 10.2 |
Changes in the Company’s restructuring reserves, included within “Other current liabilities” in the Condensed Consolidated Balance Sheets, were as follows (in millions):
|  | Employee Severance and Termination Benefits |  |  | Property, Plant and Equipment Impairment |  |  | Other Costs |  |  | Total |
Balance at September 30, 2019 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Restructuring provision |  |  | 9.4 |  |  |  | 0.8 |  |  |  | — |  |  |  | 10.2 |
Utilized - cash |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Utilized - noncash |  |  | — |  |  |  | (0.8 | ) |  |  | — |  |  |  | (0.8 | )
Foreign currency translation |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at June 30, 2020 |  | $ | 9.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 9.4 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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