XML 59 R33.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Restructuring, Business Transformation and Other Cost Saving Initiatives (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | Total charges incurred from our 2023 cost saving initiatives are summarized as follows:
|  | For the Three Months Ended June 30,
|  | 2024 |  | 2023
(In millions) |  | Severance Costs |  | Accelerated Depreciation and Other Costs |  | Total |  | Severance Costs |  | Accumulated Depreciation and Other Costs |  | Total
Selling, general and administrative |  | $ | — |  |  | $ | 2.0 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 11.5 |  |  | $ | 11.5 |
Research and development |  | — |  |  | 2.2 |  |  | 2.2 |  |  | — |  |  | 0.5 |  |  | 0.5 |
Restructuring charges |  | 6.3 |  |  | — |  |  | 6.3 |  |  | 17.8 |  |  | 16.5 |  |  | 34.3 |
Total charges |  | $ | 6.3 |  |  | $ | 4.2 |  |  | $ | 10.5 |  |  | $ | 17.8 |  |  | $ | 28.5 |  |  | $ | 46.3 |
|  | For the Six Months Ended June 30,
|  | 2024 |  | 2023
(In millions) |  | Severance Costs |  | Accelerated Depreciation |  | Total |  | Severance Costs |  | Accumulated Depreciation |  | Total
Selling, general and administrative |  | $ | — |  |  | $ | 3.4 |  |  | $ | 3.4 |  |  | $ | — |  |  | $ | 11.5 |  |  | $ | 11.5 |
Research and development |  | — |  |  | 7.1 |  |  | 7.1 |  |  | — |  |  | 0.5 |  |  | 0.5 |
Restructuring charges |  | 15.6 |  |  | — |  |  | 15.6 |  |  | 24.9 |  |  | 16.5 |  |  | 41.4 |
Total charges |  | $ | 15.6 |  |  | $ | 10.5 |  |  | $ | 26.1 |  |  | $ | 24.9 |  |  | $ | 28.5 |  |  | $ | 53.4 |
Total charges incurred from our Reata integration are summarized as follows:
|  | For the Three Months Ended June 30, 2024 |  | For the Six Months Ended June 30, 2024
(In millions) |  | Severance Costs |  | Accelerated Depreciation and Other Costs |  | Total |  | Severance Costs |  | Accumulated Depreciation and Other Costs |  | Total
Selling, general and administrative |  | $ | — |  |  | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 3.3 |  |  | $ | 3.3 |
Research and development |  | — |  |  | 3.3 |  |  | 3.3 |  |  | — |  |  | 6.0 |  |  | 6.0 |
Restructuring charges |  | 0.3 |  |  | — |  |  | 0.3 |  |  | 2.5 |  |  | — |  |  | 2.5 |
Total charges |  | $ | 0.3 |  |  | $ | 4.8 |  |  | $ | 5.1 |  |  | $ | 2.5 |  |  | $ | 9.3 |  |  | $ | 11.8 |
Schedule of Restructuring Reserve by Type of Cost | Charges and spending related to workforce reductions from our 2023 Fit for Growth program and Reata Integration are summarized as follows:
|  | Workforce Reductions |  |  |  |
(In millions) |  | 2024 |  | 2023
Restructuring reserve as of January 1 |  | $ | 75.4 |  |  |  |  |  |  | $ | 35.9 |  |  |  |  |
Expense |  | 11.5 |  |  |  |  |  |  | 7.1 |  |  |  |  |
Payment |  | (42.2) |  |  |  |  |  |  | (15.6) |  |  |  |  |
Foreign currency and other adjustments |  | 0.8 |  |  |  |  |  |  | 0.6 |  |  |  |  |
Restructuring reserve as of March 31 |  | 45.5 |  |  |  |  |  |  | 28.0 |  |  |  |  |
Expense |  | 6.6 |  |  |  |  |  |  | 17.8 |  |  |  |  |
Payment |  | (11.9) |  |  |  |  |  |  | (13.4) |  |  |  |  |
Foreign currency and other adjustments |  | — |  |  |  |  |  |  | (0.1) |  |  |  |  |
Restructuring reserve as of June 30 |  | $ | 40.2 |  |  |  |  |  |  | $ | 32.3 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration