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Restructuring Activities (Tables) | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Summary of Severance and Other Restructuring Costs | The following table summarizes severance and other restructuring costs, which includes employee-related costs, facility rent and exit costs, relocation, recruiting, travel and other:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Severance: |  |  |  |  |  |  |
Cost of sales | $ | 0.3 |  |  | $ | — |  |  |  |  |
Selling, general, and administrative expenses | 4.2 |  |  | 0.7 |  |  |  |  |
Total severance costs | 4.5 |  |  | 0.7 |  |  |  |  |
Other restructuring: |  |  |  |  |  |  |
Cost of sales | — |  |  | — |  |  |  |  |
Selling, general, and administrative expenses | 0.6 |  |  | 0.9 |  |  |  |  |
Total other restructuring costs | 0.6 |  |  | 0.9 |  |  |  |  |
Total restructuring costs | $ | 5.1 |  |  | $ | 1.6 |  |  |  |  |
The following table summarizes restructuring costs by reportable segment:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Cryo Tank Solutions | $ | 0.6 |  |  | $ | 0.8 |  |  |  |  |
Heat Transfer Systems | 0.5 |  |  | — |  |  |  |  |
Specialty Products | 1.3 |  |  | — |  |  |  |  |
Repair, Service & Leasing | 2.3 |  |  | 0.8 |  |  |  |  |
Corporate | 0.4 |  |  | — |  |  |  |  |
Total restructuring costs | $ | 5.1 |  |  | $ | 1.6 |  |  |  |  |
Schedule of Roll-forward of Restructuring Cost | The following tables summarize our restructuring activities:
Balance at December 31, 2023 |  |  |  |  |  |  |  |  |  |  | $ | 1.9 |
Restructuring charges |  |  |  |  |  |  |  |  |  |  | 5.1 |
Cash payments and other |  |  |  |  |  |  |  |  |  |  | (2.8) |
Balance at March 31, 2024 |  |  |  |  |  |  |  |  |  |  | $ | 4.2 |
Balance at December 31, 2022 |  |  |  |  |  |  |  |  |  |  | $ | 0.2 |
Restructuring charges |  |  |  |  |  |  |  |  |  |  | 1.6 |
Cash payments and other |  |  |  |  |  |  |  |  |  |  | (1.1) |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  | $ | 0.7 |

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- 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 -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- 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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 + Details
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