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Restructuring and Acquisition Charges

6 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring and acquisition charges

12.

RESTRUCTURING AND ACQUISITION CHARGES

For the three and six months ended June 30, 2019, we recognized Restructuring and acquisition charges of $25.7 million and $44.3 million, respectively. For the three and six months ended June 30, 2018, we recognized Restructuring and acquisition credits of $11.1 million and $10.4 million, respectively.

For the three and six months ended June 30, 2019, we recognized $14.3 million and $20.0 million, respectively, related to net increases to earn-out liabilities that arose from prior period acquisition activity. For the three and six months ended June 30, 2018, we recognized $13.6 million and $14.8 million related to net decreases to earn-out liabilities that arose from prior period acquisition activity, respectively, reflecting changes to our expectations of performance against contracted earn-out payment criteria.

In all periods, the remaining charges primarily consist of (1) severance and employment-related charges, including those related to external service providers, incurred in conjunction with a structural business shift, which can be represented by a notable change in headcount, change in leadership, or transformation of business processes, (2) lease exit charges, and (3) other restructuring, acquisition and integration-related charges. The following tables show the restructuring and acquisition accrual activity and related payments, which are exclusive of the adjustments individually noted above.

(in millions)	Severance & Employment-Related			Lease Exit		Other Restructuring and Acquisition Costs			Total
December 31, 2018	$	14.0		0.6		0.5			$	15.1
Accruals	10.4			1.0		12.9			24.3
Payments made	(14.8		)	(1.1	)	(8.9	)		(24.8		)
June 30, 2019	$	9.6		0.5		4.5			$	14.6

(in millions)	Severance & Employment-Related			Lease Exit		Other Restructuring and Acquisition Costs			Total
December 31, 2017	$	14.2		5.7		1.4			$	21.3
Accruals	3.7			0.2		0.5			4.4
Payments made	(10.0		)	(0.5	)	(1.9	)		(12.4		)
June 30, 2018	$	7.9		5.4		—			$	13.3

We expect the majority of accrued severance and other accrued acquisition costs as of June 30, 2019 will be paid during the next twelve months. Lease exit payments depend on the terms of various leases, which extend as far out as 2022.

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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

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