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Special Charges

9 Months Ended

May 31, 2020

Restructuring and Related Activities [Abstract]

Special Charges

Special Charges

During the first six months of fiscal 2020, we recognized pre-tax special charges of $8.5 million, which consisted primarily of severance costs and ROU asset lease impairments related to planned facility closures. Additionally, we recognized charges for relocation costs and ROU lease asset impairment charges associated with the previously announced transfer of activities from planned facility closures. We expect these actions to streamline our business activities and to integrate recent acquisitions will allow us to reduce spending in certain areas while permitting continued investment in future growth initiatives, such as new products, expanded market presence, and technology and innovation. Further details regarding our special charges are included within the Special Charges footnote of the Notes to Consolidated Financial Statements within our Form 10-K.

Additionally, we recognized pre-tax special charges of $3.3 million during the three months ended May 31, 2020, which consisted primarily of severance and employee-related charges for actions taken in response to reduced demand due to the COVID-19 pandemic.

The following table summarizes costs reflected within Special charges on the Consolidated Statements of Comprehensive Income for the periods presented (in millions):

	Three Months Ended								Nine Months Ended
	May 31, 2020				May 31, 2019				May 31, 2020				May 31, 2019
Severance and employee-related costs	$	2.4			$	—			$	8.1			$	(0.8	)
Other restructuring costs	0.9				(0.1		)		3.7				2.1
Total special charges	$	3.3			$	(0.1	)		$	11.8			$	1.3

As of May 31, 2020, remaining restructuring reserves were $4.2 million and are included in Accrued compensation on the Consolidated Balance Sheets. The changes in the reserves related to these programs during the period presented are summarized as follows (in millions):

	Fiscal 2020 Actions				Fiscal 2019 Actions				Fiscal 2018 Actions				Total
Balance at August 31, 2019	$	—			$	1.3			$	0.6			$	1.9
Severance costs	8.2				0.1				(0.2		)		8.1
Payments made during the period	(4.2		)		(1.2		)		(0.4		)		(5.8		)
Balance at May 31, 2020	$	4.0			$	0.2			$	—			$	4.2

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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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