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Restructuring and Other Charges

9 Months Ended

Sep. 30, 2017

Restructuring and Other Charges

15. Restructuring and Other Charges

Pre-tax restructuring and other charges for the nine and three months ended September 30, 2017 and 2016 are shown below.

(In millions)		Nine Months Ended September 30, 2017
		Restructuring Charges				Other Charges (a)				Total Charges
Plumbing			1.6			$	—			$	1.6
Security			1.9				0.9				2.8
Total		$	3.5			$	0.9			$	4.4

^(a) “Other Charges” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and other charges in the first nine months of 2017 largely related to severance costs within our Security and Plumbing segments.

(In millions)		Nine Months Ended September 30, 2016
		Restructuring Charges				Other Charges (a)				Total Charges
Cabinets		$	1.8			$	—			$	1.8
Plumbing			1.1				0.8				1.9
Security			9.5				3.5				13.0
Total		$	12.4			$	4.3			$	16.7

^a) “Other Charges” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and other charges in the first nine months of 2016 primarily related to severance costs and charges associated with the relocation of a manufacturing facility within our Security segment.

(In millions)		Three Months Ended September 30, 2017
		Restructuring Charges				Other Charges (a)				Total Charges
Doors		$	0.2			$	(0.1	)		$	0.1
Security			0.2				0.3				0.5
Total		$	0.4			$	0.2			$	0.6

^(a) “Other Charges” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and other charges in the third quarter of 2017 primarily resulted from severance costs within our Doors and Plumbing Segments.

(In millions)		Three Months Ended September 30, 2016
		Restructuring Charges				Other Charges (a)				Total Charges
Plumbing		$	0.4			$	0.5			$	0.9
Security			2.7				1.0				3.7
Total		$	3.1			$	1.5			$	4.6

^(a) “Other Charges” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and other charges in the third quarter of 2016 primarily resulted from severance costs within our Security segment.

Reconciliation of Restructuring Liability

(In millions)		Balance at 12/31/16				2017 Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at 9/30/17
Workforce reduction costs		$	2.4			$	2.8			$	(2.9	)		$	(0.5	)		$	1.8
Other			0.6				0.7				(1.3	)			—				0.0
		$	3.0			$	3.5			$	(4.2	)		$	(0.5	)		$	1.8

^(a)  Cash expenditures primarily related to severance charges.

(In millions)		Balance at 12/31/15				2016 Provision				Cash Expenditures (a)				Non-Cash Write-offs  (b)				Balance at 9/30/16
Workforce reduction costs		$	10.4			$	8.7			$	(15.0	)		$	0.2			$	4.3
Other			0.5				3.7				(3.0	)			(0.6	)			0.6
		$	10.9			$	12.4			$	(18.0	)		$	(0.4	)		$	4.9

^(a)  Cash expenditures primarily related to severance charges.

^(b) Non-cash write-offs include asset impairment charges attributable to restructuring actions.

X

- 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/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

+ Details

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