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Restructuring

9 Months Ended

Sep. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

In accordance with the applicable guidance for ASC 712, Nonretirement Postemployment Benefits, we accounted for termination benefits and recognized liabilities when the loss was considered probable that employees were entitled to benefits and the amounts could be reasonably estimated.

We have incurred costs in connection with involuntary termination benefits associated with our corporate-related initiatives and cost-saving opportunities associated with our Axalta Way initiatives. During the three and nine months ended September 30, 2019 and 2018, we incurred restructuring costs, net of changes to estimates, of $29.2 million, $33.3 million, $81.4 million and $79.9 million, respectively. These amounts are recorded within selling, general and administrative expenses in the condensed consolidated statements of operations. The payments associated with these actions are expected to be completed within 12 to 24 months from September 30, 2019.

The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2018 to September 30, 2019:

		2019 Activity
Balance at December 31, 2018		$	102.7
Expenses, net of changes to estimates		33.3
Payments made		(34.5		)
Foreign currency translation		(4.0		)
Balance at September 30, 2019		$	97.5

The impacts to pre-tax earnings from incremental accelerated depreciation resulting from the previously announced closure of our manufacturing facility in Mechelen, Belgium site, for the three and nine months ended September 30, 2019 and 2018 were $5.4 million, $18.2 million, $4.2 million and $4.2 million, respectively, which were recorded to cost of goods sold on the condensed consolidated statements of operations.

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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