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EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
Note 4 — EMPLOYEE SEPARATION AND RESTRUCTURING COSTS
We are engaged in a restructuring program associated with our integration of Clariant Color. These actions are expected to enable us to better serve customers, improve efficiency and deliver cost savings. We expect that the full restructuring plan will be implemented by the end of 2025 and anticipate that we will incur approximately $70.0 million of charges in connection with the restructuring plan. As of December 31, 2024, $62.3 million had been incurred.
A summary of the Clariant Color integration restructuring is shown below:
(In millions)Workforce reductionsPlant closing and otherTotal
Balance at January 1, 2022$7.5 $0.6 $8.1 
Restructuring charges30.8 2.1 32.9 
Payments, utilization and translation(4.0)(0.3)(4.3)
Balance at December 31, 2022$34.3 $2.4 $36.7 
Restructuring charges6.9 1.2 8.1 
Payments, utilization and translation(10.9)(2.8)(13.7)
Balance at December 31, 2023$30.3 $0.8 $31.1 
Restructuring charges0.4 1.6 2.0 
Payments, utilization and translation(23.3)(1.6)(24.9)
Balance at December 31, 2024$7.4 $0.8 $8.2 
Additional charges, primarily personnel reductions, taken throughout 2023 due to slowing global demand resulted in costs of $18.3 million recorded. Cash payments of $14.2 million were made in relation to these reductions throughout 2023.
Total restructuring costs included in the Consolidated Statements of Income for the years ended December 31, 2024, 2023 and 2022 are shown in the table below, and are primarily associated with the Clariant Color integration.
(In millions)202420232022
Cost of goods sold$(1.0)$11.9 $31.1 
Selling and administrative expenses5.5 14.5 7.0 
Total employee separation and restructuring charges$4.5 $26.4 $38.1