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Restructuring and Other Charges
 3 Months Ended
Apr. 01, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Other Charges

15. Restructuring and Other Charges

Pre-tax restructuring and other charges (gains) for the thirteen weeks ended April 1, 2023 and three months ended March 31, 2022 are shown below.

 

(In millions)

 

Thirteen Weeks Ended April 1, 2023

 

 

Three Months Ended March 31, 2022

 

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

 

Restructuring
Charges

 

 

Other
Charges (Gains) (a)

 

 

Total
Charges

 

Water

 

$

0.2

 

 

$

0.1

 

 

$

0.3

 

 

$

—

 

 

$

0.8

 

 

$

0.8

 

Outdoors

 

 

1.5

 

 

 

—

 

 

 

1.5

 

 

 

0.6

 

 

 

(6.2

)

 

 

(5.6

)

Security

 

 

0.7

 

 

 

—

 

 

 

0.7

 

 

 

—

 

 

 

—

 

 

 

—

 

Corporate

 

 

0.7

 

 

 

—

 

 

 

0.7

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

3.1

 

 

$

0.1

 

 

$

3.2

 

 

$

0.6

 

 

$

(5.4

)

 

$

(4.8

)

 

(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 in the first quarter of 2023 are largely related to severance and headcount actions across all segments. Restructuring and other charges (gains) in the first quarter of 2022 were largely related to a gain on the sale of previously closed manufacturing facility within our Outdoors segment, partially offset by severance actions within our Outdoors segment.

Reconciliation of Restructuring Liability

(In millions)

 

Balance at
12/31/22

 

 

2023
 Provision

 

 

Cash
Expenditures (a)

 

 

Non-Cash
Write-offs

 

 

Balance at
4/1/23

 

Workforce reduction costs

 

$

16.2

 

 

$

2.3

 

 

$

(11.1

)

 

$

0.7

 

 

$

8.1

 

Other

 

 

13.5

 

 

 

0.8

 

 

 

(0.7

)

 

 

(13.6

)

 

 

—

 

 

$

29.7

 

 

$

3.1

 

 

$

(11.8

)

 

$

(12.9

)

 

$

8.1

 

(a) Cash expenditures primarily relate to severance charges.

 

(In millions)

 

Balance at
 12/31/21

 

 

2022
 Provision

 

 

Cash
Expenditures (a)

 

 

Non-Cash
Write-offs

 

 

Balance at
 3/31/22

 

Workforce reduction costs

 

$

3.2

 

 

$

0.6

 

 

$

(3.3

)

 

$

—

 

 

$

0.5

 

Other

 

 

0.8

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.8

 

 

$

4.0

 

 

$

0.6

 

 

$

(3.3

)

 

$

—

 

 

$

1.3

 

(a) Cash expenditures primarily relate to severance charges.