XML 40 R13.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Restructuring Costs | 12 Months Ended
--- | ---
Dec. 31, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Footnote 6 — 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 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. Accelerated Transformation Plan The Company began restructuring and other actions in 2016 to integrate the legacy Newell Rubbermaid and Jarden businesses (the “Jarden Integration”). Initially, integration projects were 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. Subsequently, the Company announced its Accelerated Transformation Plan during the first quarter of 2018 to divest the Company’s industrial and commercial product assets and non-core consumer businesses. The Accelerated Transformation Plan continues some of the Jarden Integration projects for the continuing operations and focuses on the realignment of the Company’s management structure and overall cost structure as a result of the completed and planned divestitures. Restructuring costs associated with integration projects and the transformation plan include employee-related 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. 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 in continuing operations for the years ended December 31, are as follows (in millions):
|  | 2018 |  |  | 2017 |  |  | 2016 |
Food and Appliances |  | $ | 6.8 |  |  | $ | 8.6 |  |  | $ | 13.7 |
Home and Outdoor Living |  |  | 30.5 |  |  |  | 9.3 |  |  |  | 5.9 |
Learning and Development |  |  | 7.9 |  |  |  | 10.9 |  |  |  | 13.9 |
Other |  |  | — |  |  |  | 3.2 |  |  |  | 7.8 |
Corporate |  |  | 35.3 |  |  |  | 55.6 |  |  |  | 20.9 |
|  | $ | 80.5 |  |  | $ | 87.6 |  |  | $ | 62.2 |
Restructuring costs incurred during 2018 and 2017, are primarily related to the Accelerated Transformation Plan and Jarden Integration. Restructuring costs incurred during 2016 are primarily related to Project Renewal. Accrued restructuring costs activity for 2018 and 2017 are as follows (in millions):
|  | Balance at December 31, 2017 |  |  | Restructuring Costs, Net |  |  | Payments |  |  | Foreign Currency and Other (1) |  |  | Balance at December 31, 2018 |
Employee severance, termination benefits and relocation costs |  | $ | 47.2 |  |  | $ | 45.1 |  |  | $ | (47.2 | ) |  | $ | (24.5 | ) |  | $ | 20.6 |
Exited contractual commitments and other |  |  | 32.1 |  |  |  | 35.4 |  |  |  | (22.3 | ) |  |  | 1.4 |  |  |  | 46.6 |
|  | $ | 79.3 |  |  | $ | 80.5 |  |  | $ | (69.5 | ) |  | $ | (23.1 | ) |  | $ | 67.2 |
|  | Balance at December 31, 2016 |  |  | Restructuring Costs, Net |  |  | Payments |  |  | Foreign Currency and Other (1) |  |  | Balance at December 31, 2017 |
Employee severance, termination benefits and relocation costs |  | $ | 46.5 |  |  | $ | 64.9 |  |  | $ | (51.3 | ) |  | $ | (12.9 | ) |  | $ | 47.2 |
Exited contractual commitments and other |  |  | 18.1 |  |  |  | 22.7 |  |  |  | (9.7 | ) |  |  | 1.0 |  |  |  | 32.1 |
|  | $ | 64.6 |  |  | $ | 87.6 |  |  | $ | (61.0 | ) |  | $ | (11.9 | ) |  | $ | 79.3 |
(1) | Includes non-cash restructuring charges of $22.2 million and $10.3 million for 2018 and 2017, respectively.

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 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration