XML 46 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
Restructuring and Other Charges (Income) (Tables)
 9 Months Ended
Sep. 30, 2016
Restructuring and Related Activities [Abstract]  
Schedule of restructuring and other charges (income)
Our restructuring and other charges (income) are comprised of restructuring, asset disposals and other charges (income) as noted below:
 
Three Months Ended September 30
 
Nine Months Ended September 30
(in Millions)
2016
 
2015
 
2016
 
2015
Restructuring charges and asset disposals
$
6.5

 
$
69.3

 
$
18.8

 
$
81.5

Other charges (income), net
7.9

 
(23.7
)
 
20.3

 
(3.3
)
Total restructuring and other charges
$
14.4

 
$
45.6

 
$
39.1

 
$
78.2
Schedule of restructuring charges and asset disposals
 
 
Restructuring Charges
(in Millions)
 
Severance and Employee Benefits (1)
 
Other Charges (Income) (2)
 
Asset Disposal Charges (3)
 
Total
Cheminova Restructuring
 
$
3.0

 
$
—

 
$
2.8

 
$
5.8

Other Items
 
—

 
0.7

 
—

 
0.7

Three months ended September 30, 2016
 
$
3.0

 
$
0.7

 
$
2.8

 
$
6.5

 
 
 
 
 
 
 
 
 
Cheminova Restructuring
 
$
7.8

 
$
2.5

 
$
40.4

 
$
50.7

Health and Nutrition Restructuring
 
4.3

 
0.4

 
11.9

 
16.6

Other Items
 
2.0

 
—

 
—

 
2.0

Three months ended September 30, 2015
 
$
14.1

 
$
2.9

 
$
52.3

 
$
69.3

 
 
 
 
 
 
 
 
 
Cheminova Restructuring
 
$
8.1

 
$
1.3

 
$
5.3

 
$
14.7

Other Items
 
0.4

 
1.1

 
2.6

 
4.1

Nine months ended September 30, 2016
 
$
8.5

 
$
2.4

 
$
7.9

 
$
18.8

 
 
 
 
 
 
 
 
 
Cheminova Restructuring
 
$
12.2

 
$
2.8

 
$
40.5

 
$
55.5

Health and Nutrition Restructuring
 
5.9

 
0.5

 
14.1

 
20.5

Other Items
 
5.6

 
(0.1
)
 
—

 
5.5

Nine months ended September 30, 2015
 
$
23.7

 
$
3.2

 
$
54.6

 
$
81.5

____________________ 
(1)
Represents severance and employee benefit charges. Income represents adjustments to previously recorded severance and employee benefits.
(2)
Primarily represents costs associated with lease payments, contract terminations, and other miscellaneous exit costs. Other Income primarily represents favorable developments on previously recorded exit costs as recoveries associated with restructuring.
(3)
Primarily represents accelerated depreciation and impairment charges on long-lived assets, which were or are to be abandoned. To the extent incurred the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations due to facility shutdowns are also included within the asset disposal charges.
Restructuring reserve rollforward
The following table shows a roll forward of restructuring reserves, continuing and discontinued, that will result in cash spending. These amounts exclude asset retirement obligations.
(in Millions)
Balance at
12/31/15 (3)
 
Change in
reserves (2)
 
Cash
payments
 
Other
 
Balance at
9/30/16 (3)
Cheminova Restructuring
$
8.7

 
$
9.4

 
$
(11.5
)
 
$
(4.4
)
 
$
2.2

Other Workforce Related and Facility Shutdowns (1)
6.5

 
1.5

 
(4.6
)
 
(0.5
)
 
2.9

Restructuring activities related to discontinued operations (4)
0.4

 
—

 
—

 
—

 
0.4

Total
$
15.6

 
$
10.9

 
$
(16.1
)
 
$
(4.9
)
 
$
5.5

____________________ 
(1)
Primarily severance costs related to workforce reductions and facility shutdowns noted in the "Other Items" sections above.
(2)
Primarily severance, exited lease, contract termination and other miscellaneous exit costs. Any accelerated depreciation and impairment charges noted above that impacted our property, plant and equipment balances or other long term assets and are not included in the above tables.
(3)
Included in "Accrued and other liabilities" on the condensed consolidated balance sheets.
(4)
Cash spending associated with restructuring activities of discontinued operations is reported within "Other discontinued reserves" on the condensed consolidated statements of cash flows.
Schedule of other charges (income), net
Other charges (income), net
 
Three Months Ended September 30
 
Nine Months Ended September 30
(in Millions)
2016
 
2015
 
2016
 
2015
Environmental charges, net
$
8.1

 
$
2.9

 
$
17.1

 
$
8.3

Argentina devaluation
—

 
—

 
4.2

 
—

Other items, net
(0.2
)
 
(26.6
)
 
(1.0
)
 
(11.6
)
Other charges (income), net
$
7.9

 
$
(23.7
)
 
$
20.3

 
$
(3.3
)