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Restructuring and Other Charges (Income) | 6 Months Ended
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Jun. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Other Charges (Income) | 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 June 30, |  | Six Months Ended June 30,
(in Millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Restructuring charges | $ | 3.4 |  |  | $ | 10.5 |  |  | $ | 14.6 |  |  | $ | 16.8 |
Other charges (income), net | 77.4 |  |  | 5.8 |  |  | 75.3 |  |  | 2.7 |
Total restructuring and other charges (income) | $ | 80.8 |  |  | $ | 16.3 |  |  | $ | 89.9 |  |  | $ | 19.5 |
Restructuring charges For detail on restructuring activities which commenced prior to 2022, see Note 9 to our consolidated financial statements included within our 2021 Form 10-K.
(in Millions) | Severance and Employee Benefits |  | Other Charges (Income) (1) |  | Asset Disposal Charges (Income) (2) |  | Total
DuPont Crop restructuring (3) | $ | — |  |  | $ | 0.2 |  |  | $ | — |  |  | $ | 0.2 |
Regional realignment (4) | 1.4 |  |  | 1.0 |  |  | — |  |  | 2.4 |
Other items | 0.3 |  |  | 0.5 |  |  | — |  |  | 0.8 |
Three Months Ended June 30, 2022 | $ | 1.7 |  |  | $ | 1.7 |  |  | $ | — |  |  | $ | 3.4 |
DuPont Crop restructuring (3) | $ | — |  |  | $ | 1.8 |  |  | $ | (0.1) |  |  | $ | 1.7 |
Regional realignment (4) | 4.5 |  |  | 2.5 |  |  | 0.2 |  |  | 7.2 |
Other items | 1.6 |  |  | — |  |  | — |  |  | 1.6 |
Three Months Ended June 30, 2021 | $ | 6.1 |  |  | $ | 4.3 |  |  | $ | 0.1 |  |  | $ | 10.5 |
DuPont Crop restructuring (3) | $ | — |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | 0.5 |
Regional realignment (4) | 3.4 |  |  | 1.5 |  |  | — |  |  | 4.9 |
Other items | (0.1) |  |  | 1.1 |  |  | 8.2 |  |  | 9.2 |
Six Months Ended June 30, 2022 | $ | 3.3 |  |  | $ | 3.1 |  |  | $ | 8.2 |  |  | $ | 14.6 |
DuPont Crop restructuring | $ | 1.2 |  |  | $ | 2.9 |  |  | $ | 0.9 |  |  | $ | 5.0 |
Regional realignment (4) | 4.5 |  |  | 3.2 |  |  | 0.2 |  |  | 7.9 |
Other items | 3.9 |  |  | — |  |  | — |  |  | 3.9 |
Six Months Ended June 30, 2021 | $ | 9.6 |  |  | $ | 6.1 |  |  | $ | 1.1 |  |  | $ | 16.8 |
____________________ (1)Primarily represents costs associated with miscellaneous restructuring activities, including third-party costs. Other income, if applicable, primarily represents favorable developments on previously recorded exit costs and recoveries associated with restructuring. (2)Primarily represents asset write-offs (recoveries) and accelerated depreciation 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. The amount for the six months ended June 30, 2022 represents fixed asset charges resulting from the closure of certain manufacturing sites during the period. (3)Restructuring charges related to DuPont Crop restructuring during the three and six months ended June 30, 2022 and June 30, 2021 represent the remaining in-flight restructuring charges as we completed the established DuPont Crop Restructuring program associated with integration. These charges are primarily associated with accelerated depreciation on certain fixed assets, severance, and other costs as we exit certain facilities. (4)Beginning in the second quarter of 2021, we began to consolidate our global operations into centralized regional headquarters within EMEA and APAC. The regional realignment restructuring charges during the three and six months ended June 30, 2022 and June 30, 2021 are primarily related to severance and other exit costs resulting from this consolidation. Roll forward of restructuring reserves The following table shows a roll forward of restructuring reserves, that will result in cash spending. These amounts exclude asset retirement obligations.
(in Millions) | Balance at 12/31/21 (4) |  | Change in reserves (5) |  | Cash payments (6) |  | Other |  | Balance at 6/30/22 (4)
DuPont Crop restructuring (1) | $ | 8.6 |  |  | $ | 0.5 |  |  | $ | (3.4) |  |  | $ | (0.1) |  |  | $ | 5.6 |
Regional realignment (2) | 4.0 |  |  | 4.9 |  |  | (3.5) |  |  | — |  |  | 5.4 |
Other workforce related and facility shutdowns (3) | 2.3 |  |  | 1.0 |  |  | (2.5) |  |  | — |  |  | 0.8 |
Total | $ | 14.9 |  |  | $ | 6.4 |  |  | $ | (9.4) |  |  | $ | (0.1) |  |  | $ | 11.8 |
____________________ (1)Primarily consists of exit costs and severance associated with DuPont Crop restructuring activities. (2)Primarily consists of severance and employee relocation costs as well as other costs associated with the relocation of our European headquarters and the consolidation of our Asia Pacific operations into a single regional headquarters in Singapore. (3)Primarily severance costs related to workforce reductions and facility shutdowns. (4)Included in "Accrued and other liabilities" and "Other long-term liabilities" on the condensed consolidated balance sheets. (5)Primarily severance 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 are not included in this table. (6)In addition to the spend above, for the six months ended June 30, 2022 there was also approximately $3.2 million of spending related to the Furadan® asset retirement obligation as well as $4.2 million of additional spending for items in the restructuring and other charge line item that are not in the rollforward above. Other charges (income), net
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in Millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Environmental charges, net | $ | 0.9 |  |  | $ | 3.7 |  |  | $ | (2.4) |  |  | $ | (0.4) |
Exit from Russian Operations | 76.1 |  |  | — |  |  | 76.1 |  |  | — |
Other items, net | 0.4 |  |  | 2.1 |  |  | 1.6 |  |  | 3.1 |
Other charges (income), net | $ | 77.4 |  |  | $ | 5.8 |  |  | $ | 75.3 |  |  | $ | 2.7 |
Environmental charges, net Environmental charges represent the net charges associated with environmental remediation at continuing operating sites. See Note 12 for additional details. Environmental obligations for continuing operations primarily represent obligations at shut down or abandoned facilities within businesses that do not meet the criteria for presentation as discontinued operations. Exit from Russian Operations As the Russia-Ukraine war continues, our values as a company as well as the sanctions imposed on, and cross-sanctions imposed and announced by, the Russian Federation led us to cease operations and business in Russia. This decision was made in mid-April when we concluded that it was not sustainable to continue operations. As a result of this decision, we recorded a charge of approximately $76.1 million during the three and six months ended June 30, 2022. The charge primarily consists of noncash asset write offs, mainly working capital as well as the value of a packaging and formulation facility. This charge includes approximately $7 million of cash that was stranded and not accessible to us.

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- Definition This describes the aggregate amount provided for estimated restructuring charges, remediation costs, gains on sale of assets, in process research and development acquired as part of an asset acquisition, asset impairment losses and other miscellaneous charges to income during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items). + References No definition available. + Details
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