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Restructuring Expenses

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring Expenses

RESTRUCTURING EXPENSES

    In recent years, the Company has announced and initiated several actions to rationalize employee headcount in various manufacturing facilities and administrative offices located in the U.S., Europe, South America, Africa and China in order to reduce costs. Restructuring expenses activity during the three and nine months ended September 30, 2021 is summarized as follows (in millions):

									Gain on Sale of Joint Venture						Employee Severance						Facility Closure Costs						Other Related Closure Costs						Total
Balance as of December 31, 2020									$	—					$	11.1					$	3.9					$	1.8					$	16.8
First quarter 2021 provision									—						1.3						—						—						1.3
First quarter 2021 cash activity									—						(2.3)						(3.9)						—						(6.2)
Foreign currency translation									—						(0.1)						—						(0.2)						(0.3)
Balance as of March 31, 2021									$	—					$	10.0					$	—					$	1.6					$	11.6
Second quarter 2021 provision									—						3.9						—						1.5						5.4
Second quarter 2021 provision reversal									—						(0.7)						—						—						(0.7)
Second quarter 2021 cash activity									—						(1.9)						—						(0.7)						(2.6)
Foreign currency translation									—						—						—						0.2						0.2
Balance as of June 30, 2021									$	—					$	11.3					$	—					$	2.6					$	13.9
Third quarter 2021 provision									—						5.1						—						—						5.1
Third quarter 2021 provision reversal									(2.5)						(1.2)						—						—						(3.7)
Third quarter 2021 cash activity									2.5						(3.0)						—						(1.4)						(1.9)
Foreign currency translation									—						(0.2)						—						(0.1)						(0.3)
Balance as of September 30, 2021									$	—					$	12.0					$	—					$	1.1					$	13.1

    In addition, during the three months ended December 31, 2019, the Company exited and sold it’s 50% interest in its USC, LLC joint venture to its joint venture partner. The Company recorded a loss of approximately $2.1 million associated with the sale, reflected at the time within “Restructuring expenses” in the Company’s Consolidated Statements of Operations. As a result of the final payments received from the former joint venture partner related to the sale during the three months ended September 30, 2021, the Company recorded a gain of approximately $2.5 million, also reflected within “Restructuring expenses” in the Company’s Condensed Consolidated Statements of Operations.

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- References

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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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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