Restructuring Expenses

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

The Company has announced and initiated actions over the course of several years to rationalize employee headcount at various manufacturing facilities and various administrative offices located in Europe, South America, Africa, China and the United States, as well as the rationalization of its grain storage and protein production system operations. These rationalizations were taken to reduce costs in response to fluctuating global market demand. During 2021, the Company recorded severance and related costs associated with these rationalizations in connection with the termination of approximately 150 employees.

The components of the restructuring expenses are summarized as follows (in millions):


	Employee Severance		Facility Closure Costs		Write-down of Property, Plant and Equipment		Other Related Closure Costs		Loss on Sale of Joint Venture		Total
Balance as of December 31, 2018	$	7.1	$	—	$	—	$	—	$	—	$	7.1
2019 provision	5.6		0.5		1.5		—		2.1		9.7
Less: Non-cash expense	—		—		(1.5)		—		(2.1)		(3.6)
Cash expense	5.6		0.5		—		—		—		6.1
2019 provision reversal	(0.7)		—		—		—		—		(0.7)
2019 cash activity	(6.8)		(0.5)		—		—		—		(7.3)
Foreign currency translation	(0.4)		—		—		—		—		(0.4)
Balance as of December 31, 2019	4.8		—		—		—		—		4.8
2020 provision	11.3		4.5		2.5		1.8		—		20.1
Less: Non-cash expense	—		—		(2.5)		—		—		(2.5)
Cash expense	11.3		4.5		—		1.8		—		17.6
2020 provision reversal	(0.4)		—		—		—		—		(0.4)
2020 cash activity	(4.5)		(0.6)		—		—		—		(5.1)
Foreign currency translation	(0.1)		—		—		—		—		(0.1)
Balance as of December 31, 2020	11.1		3.9		—		1.8		—		16.8
2021 provision	18.4		—		0.2		1.5		—		20.1
Less: Non-cash expense	—		—		(0.2)		—		—		(0.2)
Cash expense	18.4		—		—		1.5		—		19.9
2021 provision reversal	(2.2)		—		—		(0.1)		(2.5)		(4.8)
2021 cash activity	(12.3)		(3.9)		—		(2.9)		2.5		(16.6)
Foreign currency translation	(0.5)		—		—		(0.1)		—		(0.6)
Balance as of December 31, 2021	$	14.5	$	—	$	—	$	0.2	$	—	$	14.7

During the three months ended December 31, 2019, the Company exited and sold its 50% interest in its USC, LLC joint venture to its joint venture partner for approximately $5.1 million. The operations of the joint venture were part of the Company's grain storage and production system operations, and the decision to sell the joint venture was as a result of the overall rationalization of the business. The Company recorded a loss of approximately $2.1 million associated with the sale, which was reflected 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 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.