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Restructuring Activities

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

During the first quarter of 2020, we implemented certain cost reduction actions across all segments and corporate to appropriately size our workforce with demand as well as eliminate redundant work. Costs were primarily related to headcount reductions. These actions resulted in total restructuring costs of $5.2, consisting of mainly employee severance costs. These restructuring activities were substantially completed by the end of the first quarter 2020. We are closely monitoring our end markets and order rates and will continue to take appropriate and timely actions as necessary.

Restructuring charges of $7.4 in the first quarter of 2019 were related to the timing of recognizing costs related to facility consolidations and a streamlining of the commercial activities surrounding our Lifecycle business in E&C Cryogenics and E&C FinFans, geographic realignment of our manufacturing capacity in D&S East, as well as departmental restructuring, including headcount reductions.

The following table is a summary of the severance and other restructuring costs, which included employee-related costs, facility rent and exit costs, relocation, recruiting, travel and other, for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
	2020				2019
Severance:
Cost of sales	$	2.3			$	0.5
Selling, general, and administrative expenses	2.9				1.0
Total severance costs	5.2				1.5
Other restructuring:
Cost of sales	—				5.0
Selling, general, and administrative expenses	—				0.9
Total other restructuring costs	—				5.9
Total restructuring costs	$	5.2			$	7.4

The following tables summarize our restructuring activities for the three months ended March 31, 2020 and 2019:

	Three Months Ended March 31, 2020
	D&S East				D&S West				E&C Cryogenics				E&C FinFans				Corporate				Consolidated
Balance at December 31, 2019	$	0.4			$	0.1			$	0.2			$	—			$	0.2			$	0.9
Restructuring costs	1.0				0.8				0.4				2.4				0.6				5.2
Cash payments and other	(0.7		)		(0.1		)		(0.1		)		(2.4		)		—				(3.3		)
Balance at March 31, 2020	$	0.7			$	0.8			$	0.5			$	—			$	0.8			$	2.8

	Three Months Ended March 31, 2019
	D&S East				D&S West				E&C Cryogenics				E&C FinFans				Corporate				Consolidated
Balance at December 31, 2018	$	0.8			$	—			$	—			$	—			$	0.1			$	0.9
Restructuring costs	2.4				0.3				3.4				1.1				0.2				7.4
Property, plant and equipment impairment	(1.9		)		—				(3.2		)		—				—				(5.1		)
Cash payments and other	(0.5		)		—				0.5				(1.1		)		(0.2		)		(1.3		)
Balance at March 31, 2019	$	0.8			$	0.3			$	0.7			$	—			$	0.1			$	1.9

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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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