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Restructuring Costs | 3 Months Ended
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Mar. 31, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Footnote 6 — Restructuring Costs Restructuring Costs Restructuring provisions were determined based on estimates prepared at the time the restructuring actions were approved by management and are periodically updated for changes. Restructuring amounts also include amounts recognized as incurred. As part of acquisition of Jarden Corporation (“Jarden”) in 2016, the Company initiated a comprehensive strategic assessment of the business and launched a new corporate strategy that focuses the portfolio, prioritizes investment in the categories with the greatest potential for growth, and extends the Company’s advantaged capabilities in insights, product design, innovation, and E-commerce to the broadened portfolio. Jarden Integration The Company expects to incur approximately $1.0 billion of restructuring and other costs through 2021 to integrate the legacy Newell Rubbermaid and Jarden businesses (the “Jarden Integration”). Initially, integration projects are primarily focused on driving cost synergies in procurement, overhead functions and organizational changes designed to redefine the operating model of the Company from a holding company to an operating company. Restructuring costs associated with integration projects are expected to include employee-related cash costs, including severance, retirement and other termination benefits, and contract termination and other costs. In addition, other costs associated with the Jarden Integration include advisory and personnel costs for managing and implementing integration projects. At March 31, 2018, cumulative restructuring costs related to the Jarden Integration were approximately $168 million. Project Renewal The Company’s Project Renewal restructuring plan was completed during 2017. Project Renewal was designed, in part, to simplify and align the Company’s businesses, streamline and realign the supply chain functions, reduce operational and manufacturing complexity, streamline the distribution and transportation functions, optimize global selling and trade marketing functions and rationalize the Company’s real estate portfolio. Other Restructuring In addition to Project Renewal and the Jarden Integration the Company has incurred restructuring costs for various other restructuring activities. Restructuring Costs Restructuring costs incurred by reportable business segment for all restructuring activities for the periods indicated are as follows (in millions):
|  | Three Months Ended March 31, |
Segment |  | 2018 |  |  | 2017 |
Live |  | $ | 0.8 |  |  | $ | 1.1 |
Learn |  |  | 1.8 |  |  |  | 4.0 |
Work |  |  | 1.1 |  |  |  | 2.8 |
Play |  |  | 1.0 |  |  |  | 2.7 |
Other |  |  | 0.5 |  |  |  | 2.1 |
Corporate |  |  | 2.7 |  |  |  | 0.6 |
|  | $ | 7.9 |  |  | $ | 13.3 |
Restructuring costs incurred by restructuring activity for the periods indicated are as follows (in millions):
|  | Three Months Ended March 31, |
Restructuring Activity |  | 2018 |  |  | 2017 |
Jarden Integration |  | $ | 10.1 |  |  | $ | 11.8 |
Project Renewal and other |  |  | (2.2 | ) |  |  | 1.5 |
|  | $ | 7.9 |  |  | $ | 13.3 |
Accrued restructuring costs activity for the three months ended March 31, 2018 is as follows (in millions):
|  | Balance at December 31, 2017 |  |  | Restructuring Costs, Net |  |  | Payments |  |  | Foreign Currency and Other |  |  | Balance at March 31, 2018 |
Employee severance, termination benefits and relocation costs |  | $ | 62.8 |  |  | $ | 8.1 |  |  | $ | (18.2 | ) |  | $ | 0.5 |  |  | $ | 53.2 |
Exited contractual commitments and other |  |  | 31.0 |  |  |  | (0.2 | ) |  |  | (3.2 | ) |  |  | — |  |  |  | 27.6 |
|  | $ | 93.8 |  |  | $ | 7.9 |  |  | $ | (21.4 | ) |  | $ | 0.5 |  |  | $ | 80.8 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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