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15. Restructuring Costs (Notes)

12 Months Ended

Dec. 31, 2020

Restructuring Costs [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING COSTS

In December 2018, we announced the closure of a small manufacturing facility in France. Restructuring charges for the facility closure are included in our Clinical Diagnostics segment's results of operations. This restructuring plan is expected to be substantially complete by the first half of 2021. We recorded restructuring charges and adjustments related to severance and employee benefits of $(0.1) million, $(0.1) million and $3.9 million and exit costs of $0.1 million, zero and $0.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. The amounts recorded were reflected in Cost of goods sold in the consolidated statements of income. The liability of $1.6 million as of December 31, 2020 consisted of $1.5 million recorded in Accrued payroll and employee benefits and $0.1 million recorded in Other current liabilities in the consolidated balance sheets. From December 2018 to December 31, 2020, total expenses were $4.0 million.

The following table summarizes the activity for the facility closure restructuring reserves for severance and exit costs (in millions):

						2020						2019
Balance as of January 1						$	3.2					$	4.1
Adjustment to expense						—						(0.1)
Cash payments						(1.8)						(0.7)
Foreign currency translation losses (gains)						0.2						(0.1)
Balance as of December 31						$	1.6					$	3.2

In November 2019, we announced our strategy-driven restructuring plan. We expect that a significant portion of the net savings resulting from this restructuring plan will be repurposed in alignment with our portfolio strategy.

The restructuring plan includes a workforce reduction in Europe, the United States and Canada, and is expected to be substantially complete by the first half of 2022. We recorded $(4.8) million and $25.3 million of expenses and adjustments in restructuring charges related to severance and employee benefits for the years ended December 31, 2020 and 2019, respectively. The liability of $2.8 million as of December 31, 2020 was recorded in Accrued payroll and employee benefits in the consolidated balance sheets. The amounts recorded were reflected in Cost of goods sold of $(1.9) million and $4.8 million, in Selling, general and administrative expense of $(1.7) million and $14.4 million and in Research and development expense of $(1.2) million and $6.1 million in the consolidated statements of income for the years ended December 31, 2020 and 2019, respectively. From November 2019 to December 31, 2020, total expenses were $20.5 million.

The following table summarizes the activity of our European and North American reorganization restructuring reserves for severance (in millions):

						2020																		2019
						Life Science						Clinical Diagnostics						Total						Life Science						Clinical Diagnostics						Total
Balance as of January 1						$	6.2					$	19.1					$	25.3					$	—					$	—					$	—
Charged to expense						—						—						—						6.2						19.1						25.3
Adjustment to expense						(0.6)						(4.2)						(4.8)						—						—						—
Cash payments						(4.7)						(13.4)						(18.1)						(0.4)						(0.7)						(1.1)
Reserve transferred from prior restructuring plan						—						—						—						0.3						0.4						0.7
Foreign currency translation losses						—						0.4						0.4						0.1						0.3						0.4
Balance as of December 31						$	0.9					$	1.9					$	2.8					$	6.2					$	19.1					$	25.3

In June 2020, we announced a restructuring plan to consolidate certain finance and administrative activities in Europe and the United States. The restructuring plan is expected to be substantially complete by the first half of 2022. The liability of $2.7 million as of December 31, 2020 was recorded in Accrued payroll and employee benefits in the consolidated balance sheet. The amount reflected in Selling, general and administrative expense was $3.9 million for the year ended December 31, 2020.

The following table summarizes the restructuring activities related to the finance and administrative reorganization (in millions):

						2020
						Life Science						Clinical Diagnostics						Total
Balances as of January 1						$	—					$	—					$	—
Charged to expense						1.5						2.3						3.8
Adjustment to expense						0.1						—						0.1
Cash payments						(0.5)						(0.8)						(1.3)
Foreign currency translation losses						—						0.1						0.1
Balances as of December 31						$	1.1					$	1.6					$	2.7

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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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- References

No definition available.

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