XML 48 R38.htm IDEA: XBRL DOCUMENT v3.21.2

Restructuring and Other Charges (Tables)

9 Months Ended

Sep. 30, 2021

Restructuring And Related Activities [Abstract]

Pre-tax Restructuring and Other Charges

Pre-tax restructuring and other charges for the nine and three months ended September 30, 2021 and 2020 are shown below.

(In millions)		Nine Months Ended September 30, 2021												Nine Months Ended September 30, 2020
		Restructuring Charges				Other Charges (a)				Total Charges				Restructuring Charges				Other Charges (a)				Total Charges
Plumbing		$	—			$	2.8			$	2.8			$	7.2			$	0.1			$	7.3
Outdoors & Security			8.5				(0.4	)			8.1				3.2				0.5				3.7
Cabinets			3.0				3.5				6.5				4.7				2.6				7.3
Corporate			—				—				—				1.4				0.3				1.7
Total		$	11.5			$	5.9			$	17.4			$	16.5			$	3.5			$	20.0

(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 2021 largely related to severance costs associated with the relocation of manufacturing facilities within our Outdoors & Security and Cabinets segments. Restructuring and other charges in the first nine months of 2020 largely related to headcount actions associated with COVID-19-related reductions in demand across all segments and costs associated with changes in our manufacturing processes within our Plumbing segment.

(In millions)		Three Months Ended September 30, 2021												Three Months Ended September 30, 2020
		Restructuring Charges				Other Charges (a)				Total Charges				Restructuring Charges				Other Charges (a)				Total Charges
Plumbing		$	—			$	1.2			$	1.2			$	4.0			$	2.4			$	6.4
Outdoors & Security			2.4				(0.4	)			2.0				-				(0.3	)			(0.3	)
Cabinets			1.2				0.9				2.1				(2.4	)			0.3				(2.1	)
Total		$	3.6			$	1.7			$	5.3			$	1.6			$	2.4			$	4.0

(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.

Reconciliation of Restructuring Liability

Reconciliation of Restructuring Liability

(In millions)		Balance at 12/31/20				2021 Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at 9/30/21
Workforce reduction costs		$	6.9			$	9.6			$	(11.2	)		$	—			$	5.3
Other			0.7				1.9				(1.5	)			—				1.1
Total		$	7.6			$	11.5			$	(12.7	)		$	—			$	6.4

(a) Cash expenditures primarily relate to severance charges. 

(In millions)		Balance at 12/31/19				2020 Provision				Cash Expenditures (a)				Non-Cash Write-offs				Balance at 9/30/20
Workforce reduction costs		$	6.7			$	16.0			$	(12.2	)		$	—			$	10.5
Other			0.1				0.5				(0.6	)			—				—
Total		$	6.8			$	16.5			$	(12.8	)		$	—			$	10.5

(a) Cash expenditures primarily relate to severance charges.

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration