XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.21.2

Restructuring Restructuring (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | We recorded restructuring (gains) charges, net which are reflected in the Condensed Consolidated Statements of Operations, as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Aerospace & Electronics | $ | — |  |  | $ | 4.7 |  |  | $ | — |  |  | $ | 4.7 |
Process Flow Technologies 1 | — |  |  | 4.7 |  |  | (12.6) |  |  | 4.7 |
Payment & Merchandising Technologies 2 | (0.2) |  |  | 13.8 |  |  | (0.7) |  |  | 12.6 |
Total restructuring (gains) charges, net 3 | $ | (0.2) |  |  | $ | 23.2 |  |  | $ | (13.3) |  |  | $ | 22.0 |
1 We also recorded related costs of $2.4 million and $0.5 million for the three months ended June 30, 2021 and 2020, respectively, and $3.8 million and $1.9 million for the six months ended June 30, 2021 and 2020, respectively. These costs are recorded within Cost of sales and Selling, general and administrative. 2 We also recorded related costs of $0.8 million for the three months ended June 30, 2020 and $0.7 million for the six months ended June 30, 2020. These costs are recorded within Cost of sales and Selling, general and administrative. 3 We also recorded related costs of $2.4 million and $1.3 million for the three months ended June 30, 2021 and 2020, respectively, and $3.8 million and $2.6 million for the six months ended June 30, 2021 and 2020, respectively. These costs are recorded within Cost of sales and Selling, general and administrative. The following table summarizes our restructuring (gains) charges, net by program, cost type and segment for the three months ended June 30, 2021 and 2020:
| Three months ended June 30, 2021 |  | Three months ended June 30, 2020
(in millions) | Severance | Other | Total |  | Severance | Other | Total
Aerospace & Electronics | $ | — |  | $ | — |  | $ | — |  |  | $ | 4.7 |  | $ | — |  | $ | 4.7 |
Process Flow Technologies | — |  | — |  | — |  |  | 4.7 |  | — |  | 4.7 |
Payment & Merchandising Technologies | — |  | — |  | — |  |  | 13.8 |  | 1.0 |  | 14.8 |
2020 Repositioning | $ | — |  | $ | — |  | $ | — |  |  | $ | 23.2 |  | $ | 1.0 |  | $ | 24.2 |
Payment & Merchandising Technologies | (0.2) |  | — |  | (0.2) |  |  | (1.0) |  | — |  | (1.0) |
2017 Repositioning | $ | (0.2) |  | $ | — |  | $ | (0.2) |  |  | $ | (1.0) |  | $ | — |  | $ | (1.0) |
Total | $ | (0.2) |  | $ | — |  | $ | (0.2) |  |  | $ | 22.2 |  | $ | 1.0 |  | $ | 23.2 |
The following table summarizes our restructuring (gains) charges, net by program, cost type and segment for the six months ended June 30, 2021 and 2020:
| Six months ended June 30, 2021 |  | Six months ended June 30, 2020
(in millions) | Severance | Other | Total |  | Severance | Other | Total
Aerospace & Electronics | $ | — |  | $ | — |  | $ | — |  |  | $ | 4.7 |  | $ | — |  | $ | 4.7 |
Process Flow Technologies | — |  | — |  | — |  |  | 4.7 |  | — |  | 4.7 |
Payment & Merchandising Technologies | (0.5) |  | — |  | (0.5) |  |  | 13.8 |  | 1.0 |  | 14.8 |
2020 Repositioning | $ | (0.5) |  | $ | — |  | $ | (0.5) |  |  | $ | 23.2 |  | $ | 1.0 |  | $ | 24.2 |
Process Flow Technologies | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | — |  | $ | — |  | $ | — |
2019 Repositioning | $ | 0.1 |  | $ | — |  | $ | 0.1 |  |  | $ | — |  | $ | — |  | $ | — |
Process Flow Technologies 1 | $ | — |  | $ | (12.7) |  | $ | (12.7) |  |  | $ | — |  | $ | — |  | $ | — |
Payment & Merchandising Technologies 2 | (0.2) |  | — |  | (0.2) |  |  | (1.0) |  | (1.5) |  | (2.5) |
2017 Repositioning | $ | (0.2) |  | $ | (12.7) |  | $ | (12.9) |  |  | $ | (1.0) |  | $ | (1.5) |  | $ | (2.5) |
Payment & Merchandising Technologies | $ | — |  | $ | — |  | $ | — |  |  | $ | 0.3 |  | $ | — |  | $ | 0.3 |
Other Restructuring | $ | — |  | $ | — |  | $ | — |  |  | $ | 0.3 |  | $ | — |  | $ | 0.3 |
Total | $ | (0.6) |  | $ | (12.7) |  | $ | (13.3) |  |  | $ | 22.5 |  | $ | (0.5) |  | $ | 22.0 |
1 Reflects a pre-tax gain related to the sale of real estate in 2021 2 Reflects a pre-tax gain related to the sale of real estate in 2020 The following table summarizes the cumulative restructuring costs, net incurred through June 30, 2021. We do not expect to incur additional facility consolidation costs to complete these actions as of June 30, 2021.
| Cumulative Restructuring Costs, Net |  |
(in millions) | Severance | Other | Total |  |
Process Flow Technologies | $ | 3.8 |  | $ | — |  | $ | 3.8 |  |  |
Payment & Merchandising Technologies | 16.1 |  | 4.6 |  | 20.7 |  |  |
Aerospace & Electronics | 6.5 |  | — |  | 6.5 |  |  |
2020 Repositioning | $ | 26.4 |  | $ | 4.6 |  | $ | 31.0 |  |  |
Process Flow Technologies | $ | 16.1 |  | $ | — |  | $ | 16.1 |  |  |
2019 Repositioning | $ | 16.1 |  | $ | — |  | $ | 16.1 |  |  |
Process Flow Technologies | $ | 13.5 |  | $ | (12.7) |  | $ | 0.8 |  |  |
Payment & Merchandising Technologies | 11.5 |  | 0.7 |  | 12.2 |  |  |
Aerospace & Electronics | 1.3 |  | (1.4) |  | (0.1) |  |  |
2017 Repositioning | $ | 26.3 |  | $ | (13.4) |  | $ | 12.9 |  |  |
Restructuring Liability The following table summarizes the accrual balances related to these restructuring (gains) charges by program:
(in millions) |  | 2020 Repositioning | 2019 Repositioning | 2017 Repositioning | Total
Severance: |  |  |  |  |
Balance at December 31, 2020 (b) |  | $ | 4.2 |  | $ | 16.0 |  | $ | 4.7 |  | $ | 24.9 |
Expense (a) |  | — |  | 0.1 |  | — |  | 0.1 |
Adjustments (a) |  | (0.5) |  | — |  | (0.2) |  | (0.7) |
Utilization |  | (3.1) |  | (2.7) |  | (0.3) |  | (6.1) |
Balance at June 30, 2021 (b) |  | $ | 0.6 |  | $ | 13.4 |  | $ | 4.2 |  | $ | 18.2 |
(a) | Included within Restructuring (gains) charges, net in the Condensed Consolidated Statements of Operations and reflects changes in estimates for increases and decreases in costs related to our restructuring programs
(b) | Included within Accrued Liabilities in the Condensed Consolidated Balance Sheets

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 + Details
Name: | us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration