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Restructuring | 12 Months Ended
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Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring Overview 2022 Repositioning - In the fourth quarter of 2022, in response to economic uncertainty, we initiated modest workforce reductions of approximately 300 employees, or about 3% of our global workforce. We expect to complete the program in the fourth quarter of 2023. We recorded a charge of $14.4 million for the year ended December 31, 2022. 2020 Repositioning - In the second quarter of 2020, we initiated actions in response to the adverse economic impact of COVID-19 and integration actions related to the Cummins-Allison acquisition. These actions include workforce reductions of approximately 1,200 employees, or about 11% of our global workforce, and the exiting of two leased office facilities and one leased warehouse facility. We have completed this program and do not expect to incur additional restructuring charges. We recorded restructuring gain of $3.7 million for the year ended December 31, 2021. We recorded a charge of $32.1 million for the year ended December 31, 2020. 2019 Repositioning - In the fourth quarter of 2019, we initiated actions to consolidate two manufacturing operations in Europe within our Process Flow Technologies segment. In 2020, we recorded additional severance costs related to the final negotiation with the works council/union at both locations. These actions, taken together, included workforce reductions of approximately 180 employees, or less than 1% of our global workforce. We expect to complete the program in the fourth quarter of 2023. We recorded a gain of $4.0 million in 2022. We recorded charges of $0.1 million and $6.1 million for the years ended December 31, 2021 and 2020, respectively. 2017 Repositioning - In the fourth quarter of 2017, we initiated broad-based repositioning actions designed to improve profitability. These actions included headcount reductions of approximately 300 employees, or about 3% of our global workforce, and select facility consolidations in North America and Europe. In 2020, we adjusted the estimate downward to reflect the impact of employees that chose to voluntarily terminate prior to receiving severance at the conclusion of the actions in North America. In 2021, we recorded a gain on sale of real estate related to these actions. We completed the program and do not expect to incur additional restructuring charges. We recorded a restructuring gain of $13.3 million and $6.2 million for the years ended December 31, 2021 and 2020 respectively. Other Restructuring - In the second quarter of 2020, we recorded other restructuring costs within our Payment & Merchandising Technologies segment. We do not expect to incur additional restructuring charges. Restructuring Charges (Gains), Net We recorded restructuring charges (gains) which are reflected in the Consolidated Statements of Operations, as follows:
(in millions) For the year ended December 31, |  | 2022 |  | 2021 |  | 2020
Aerospace & Electronics |  | $ | 1.5 |  |  | $ | — |  |  | $ | 6.5 |
Process Flow Technologies |  | 2.3 |  |  | (13.2) |  |  | 6.1 |
Payment & Merchandising Technologies |  | 6.2 |  |  | (3.7) |  |  | 19.1 |
Engineering Materials |  | 0.4 |  |  | — |  |  | 0.6 |
Total restructuring charges (gains), net |  | $ | 10.4 |  |  | $ | (16.9) |  |  | $ | 32.3 |
The following table summarizes our restructuring charges (gains) by program, cost type and segment for the years ended December 31, 2022, 2021 and 2020:
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2020
(in millions) | Severance |  | Other |  | Total |  | Severance |  | Other |  | Total |  | Severance | Other |  | Total
Aerospace & Electronics | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  | $ | — |  |  | $ | — |
Process Flow Technologies | 6.3 |  |  | $ | — |  |  | 6.3 |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |
Payment & Merchandising Technologies | 5.7 |  |  | $ | 0.5 |  |  | 6.2 |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |
Engineered Materials | 0.4 |  |  | $ | — |  |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |
2022 Repositioning | 13.9 |  |  | 0.5 |  |  | 14.4 |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  |  | — |
Aerospace & Electronics | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6.5 |  | $ | — |  |  | $ | 6.5 |
Process Flow Technologies | — |  |  | — |  |  | — |  |  | (0.1) |  | (a) | — |  |  | (0.1) |  |  | 3.8 |  | — |  |  | 3.8 |
Payment & Merchandising Technologies | — |  |  | — |  |  | — |  |  | (0.8) |  | (a) | (2.8) |  |  | (3.6) |  |  | 16.6 |  | 4.6 |  | (b) | 21.2 |
Engineered Materials | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.6 |  | — |  |  | 0.6 |
2020 Repositioning | — |  |  | — |  |  | — |  |  | (0.9) |  | (a) | (2.8) |  |  | (3.7) |  |  | 27.5 |  | 4.6 |  |  | 32.1 |
Process Flow Technologies | $ | (1.2) |  | (a) | $ | (2.8) |  | (c) | $ | (4.0) |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 6.1 |  | $ | — |  |  | $ | 6.1 |
2019 Repositioning | (1.2) |  | (a) | (2.8) |  | (c) | (4.0) |  |  | 0.1 |  |  | — |  |  | 0.1 |  |  | 6.1 |  | — |  |  | 6.1 |
Process Flow Technologies | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.4) |  | (a) | $ | (12.7) |  | (c) | $ | (13.1) |  |  | $ | (3.8) |  | $ | — |  |  | $ | (3.8) |
Payment & Merchandising Technologies | — |  |  | — |  |  | — |  |  | (0.2) |  | (a) | — |  |  | (0.2) |  |  | (0.9) |  | (1.5) |  | (c) | (2.4) |
2017 Repositioning | — |  |  | — |  |  | — |  |  | (0.6) |  | (a) | (12.7) |  | (c) | (13.3) |  |  | (4.7) |  | (1.5) |  | (c) | (6.2) |
Payment & Merchandising Technologies | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.3 |  | $ | — |  |  | $ | 0.3 |
Other Restructuring | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.3 |  | — |  |  | 0.3 |
Total | $ | 12.7 |  |  | $ | (2.3) |  |  | $ | 10.4 |  |  | $ | (1.4) |  |  | $ | (15.5) |  |  | $ | (16.9) |  |  | $ | 29.2 |  | $ | 3.1 |  |  | $ | 32.3 |
(a) | Reflects changes in estimates for increases and decreases in costs related to our restructuring programs.
(b) | Primarily reflects non-cash charges related to the impairment of ROU assets and leasehold improvements associated with the exit of the three leased facilities in 2020.
(c) | Reflects a pre-tax gain related to the sale of real estate.
The following table summarizes the cumulative restructuring costs incurred through December 31, 2022. We do not expect to incur additional facility consolidation costs to complete these actions as of December 31, 2022.
| Cumulative Restructuring Costs
(in millions) | Severance | Other | Total
Aerospace & Electronics | $ | 1.5 |  | $ | — |  | $ | 1.5 |
Process Flow Technologies | 6.3 |  | — |  | 6.3 |
Payment & Merchandising Technologies | 5.7 |  | 0.5 |  | 6.2 |
Engineered Materials | 0.4 |  | — |  | 0.4 |
2022 Repositioning | 13.9 |  | 0.5 |  | 14.4 |
Aerospace & Electronics | $ | 6.5 |  | $ | — |  | $ | 6.5 |
Process Flow Technologies | 3.7 |  | — |  | 3.7 |
Payment & Merchandising Technologies | 15.8 |  | 1.8 |  | 17.6 |
Engineered Materials | 0.6 |  | — |  | 0.6 |
2020 Repositioning | 26.6 |  | 1.8 |  | 28.4 |
Process Flow Technologies | 14.9 |  | (2.8) |  | 12.1 |
2019 Repositioning | 14.9 |  | (2.8) |  | 12.1 |
Aerospace & Electronics | 1.3 |  | (1.4) |  | (0.1) |
Process Flow Technologies | 13.1 |  | (12.7) |  | 0.4 |
Payment & Merchandising Technologies | 11.5 |  | 0.7 |  | 12.2 |
2017 Repositioning | $ | 25.9 |  | $ | (13.4) |  | $ | 12.5 |
Restructuring Liability The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions) |  | 2022 Repositioning | 2020 Repositioning | 2019 Repositioning | 2017 Repositioning |  |  | Total
Severance: |  |  |  |  |  |  |  |
Balance as of December 31, 2020 (c) |  | $ | — |  | $ | 4.2 |  | $ | 16.0 |  | $ | 4.7 |  |  |  | $ | 24.9 |
Expense (a) |  | — |  | — |  | 0.1 |  | — |  |  |  | 0.1 |
Adjustments (b) |  | — |  | (0.9) |  | — |  | (0.5) |  |  |  | (1.4) |
Utilization |  | — |  | (3.3) |  | (4.6) |  | (3.5) |  |  |  | (11.4) |
Balance as of December 31, 2021 (c) |  | $ | — |  | $ | — |  | $ | 11.5 |  | $ | 0.7 |  |  |  | $ | 12.2 |
Charges (Gain) (a) |  | 14.4 |  | — |  | (1.2) |  | — |  |  |  | 13.2 |
Adjustments (b) |  | — |  | — |  | — |  | — |  |  |  | — |
Utilization |  | (0.2) |  | — |  | (7.9) |  | (0.7) |  |  |  | (8.8) |
Balance as of December 31, 2022 (c) |  | $ | 14.2 |  | $ | — |  | $ | 2.4 |  | $ | — |  |  |  | $ | 16.6 |
(a) | Included within “Restructuring charges (gains), net” in the Consolidated Statements of Operations
(b) | Included within “Restructuring charges (gains), net” in the Consolidated Statements of Operations and reflects changes in estimates for increases and decreases in costs
(c) | Included within Accrued Liabilities in the Consolidated Balance Sheets

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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