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Restructuring and Other Charges
 6 Months Ended
Jun. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges

15. Restructuring and Other Charges

Pre-tax restructuring and other charges for the six and three months ended June 30, 2022 and 2021 are shown below.

 

(In millions)

 

Six Months Ended June 30, 2022

 

 

Six Months Ended June 30, 2021

 

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

Water Innovations

 

$

0.9

 

 

$

0.8

 

 

$

1.7

 

 

$

-

 

 

$

1.6

 

 

$

1.6

 

Outdoors & Security

 

 

0.7

 

 

 

(6.3

)

 

 

(5.6

)

 

 

6.1

 

 

 

-

 

 

 

6.1

 

Cabinets

 

 

1.3

 

 

 

2.4

 

 

 

3.7

 

 

 

1.8

 

 

 

2.6

 

 

 

4.4

 

Total

 

$

2.9

 

 

$

(3.1

)

 

$

(0.2

)

 

$

7.9

 

 

$

4.2

 

 

$

12.1

 

 

(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 six months of 2022 are largely related to severance costs associated with plant and office closures. Restructuring and other charges in the first six months of 2021 largely related to severance costs associated with the relocation of manufacturing facilities within our Cabinets and Outdoors & Security segments.

 

(In millions)

 

Three Months Ended June 30, 2022

 

 

Three Months Ended June 30, 2021

 

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

Water Innovations

 

$

0.9

 

 

$

-

 

 

$

0.9

 

 

$

-

 

 

$

0.2

 

 

$

0.2

 

Outdoors & Security

 

 

0.1

 

 

 

-

 

 

 

0.1

 

 

 

-

 

 

 

-

 

 

 

-

 

Cabinets

 

 

1.3

 

 

 

2.3

 

 

 

3.6

 

 

 

0.3

 

 

 

2.1

 

 

 

2.4

 

Total

 

$

2.3

 

 

$

2.3

 

 

$

4.6

 

 

$

0.3

 

 

$

2.3

 

 

$

2.6

 

 

(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 second quarter of 2022 largely related to severance costs associated with plant and office closures within our Cabinets and Water Innovations segments. Restructuring and other charges in the second quarter of 2021 largely related to costs associated with plant and office closures within our Cabinets segment.

Reconciliation of Restructuring Liability

 

(In millions)

 

Balance at
December 31, 2021

 

 

2022
 Provision

 

 

Cash
Expenditures (a)

 

 

Balance at
June 30, 2022

 

Workforce reduction costs

 

$

4.7

 

 

$

2.8

 

 

$

(4.3

)

 

$

3.2

 

Other

 

 

1.0

 

 

 

0.1

 

 

 

(0.2

)

 

 

0.9

 

Total

 

$

5.7

 

 

$

2.9

 

 

$

(4.5

)

 

$

4.1

 

(a) Cash expenditures primarily relate to severance charges.

 

(In millions)

 

Balance at
 December 31, 2020

 

 

2021
 Provision

 

 

Cash
Expenditures (a)

 

 

Balance at
 June 30, 2021

 

Workforce reduction costs

 

$

6.9

 

 

$

6.4

 

 

$

(7.9

)

 

$

5.4

 

Other

 

 

0.7

 

 

 

1.5

 

 

 

(0.9

)

 

 

1.3

 

Total

 

$

7.6

 

 

$

7.9

 

 

$

(8.8

)

 

$

6.7

 

(a) Cash expenditures primarily relate to severance charges.