XML 54 R39.htm IDEA: XBRL DOCUMENT
v3.22.4

Restructuring Restructuring (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | 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

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 https://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 https://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 https://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