XML 31 R22.htm IDEA: XBRL DOCUMENT v3.22.1
Restructuring and Other Charges (Gains)
 3 Months Ended
Mar. 31, 2022
Restructuring And Related Activities [Abstract]  
Restructuring and Other Charges

15. Restructuring and Other Charges (Gains)

Pre-tax restructuring and other charges for the three months ended March 31, 2022 and 2021 are shown below.

 

(In millions)

 

Three Months Ended March 31, 2022

 

 

Three Months Ended March 31, 2021

 

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

Water Innovations

 

$

—

 

 

$

0.8

 

 

$

0.8

 

 

$

-

 

 

$

1.5

 

 

$

1.5

 

Outdoors & Security

 

 

0.6

 

 

 

(6.2

)

 

 

(5.6

)

 

 

6.1

 

 

 

—

 

 

 

6.1

 

Cabinets

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.5

 

 

 

0.4

 

 

 

1.9

 

Total

 

$

0.6

 

 

$

(5.4

)

 

$

(4.8

)

 

$

7.6

 

 

$

1.9

 

 

$

9.5

 

(a) “Other Charges (Gains)” 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 (gains) in the first quarter of 2022 are largely related to a gain on the sale of a previously closed manufacturing facility within our Outdoors & Security segment, partially offset by severance costs within our Outdoors & Security segment. Restructuring and other charges (gains) in the first quarter of 2021 are largely related to severance costs associated with the relocation of manufacturing facilities within our Cabinets and Outdoors & Security segments.

Reconciliation of Restructuring Liability

(In millions)

 

Balance at
12/31/21

 

 

2022
 Provision

 

 

Cash
Expenditures (a)

 

 

Non-Cash
Write-offs

 

 

Balance at
3/31/22

 

Workforce reduction costs

 

$

4.7

 

 

$

0.6

 

 

$

(3.9

)

 

$

—

 

 

$

1.4

 

Other

 

 

1.0

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.0

 

 

 

$

5.7

 

 

$

0.6

 

 

$

(3.9

)

 

$

—

 

 

$

2.4

 
(a)
Cash expenditures primarily relate to severance charges.

(In millions)

 

Balance at
 12/31/20

 

 

2021
 Provision

 

 

Cash
Expenditures (a)

 

 

Non-Cash
Write-offs

 

 

Balance at
 3/31/21

 

Workforce reduction costs

 

$

6.9

 

 

$

6.5

 

 

$

(4.6

)

 

$

—

 

 

$

8.8

 

Other

 

 

0.7

 

 

 

1.1

 

 

 

(0.4

)

 

 

—

 

 

 

1.4

 

 

 

$

7.6

 

 

$

7.6

 

 

$

(5.0

)

 

$

—

 

 

$

10.2

 
Cash expenditures primarily relate to severance charges.