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Restructuring | 9 Months Ended
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Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring. During the fourth quarter of 2023, the Company introduced its continuous improvement initiative, which is focused on consistently innovating its solutions to support a better transaction experience for consumers at bank and retail locations while simultaneously streamlining cost structures and business processes through the integration of hardware, software and services. The total expense expected to be incurred in relation to the continuous improvement initiative is approximately $205, which includes $31 and $25 related to our Banking and Retail segments, respectively. As of September 30, 2025, the cumulative amount incurred in relation to the continuous improvement initiative was $155.0. The most significant expenses for the nine months ended September 30, 2025 primarily relates to headcount reduction and redefining the organization structure in relation to the improvement process. Total restructuring charges for the three months ended September 30, 2025 for the Banking and Retail segments were $0.8 and $2.0, respectively. Total restructuring charges for the nine months ended September 30, 2025 for the Banking and Retail segments were $9.9 and $12.4, respectively. Total restructuring charges also includes corporate charges that are not allocated to the segments. The following tables summarizes the impact of the Company’s restructuring charges on the Consolidated Statements of Earnings:
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cost of sales – services | $ | 2.3 |  |  | $ | 3.8 |  |  | $ | 20.6 |  |  | $ | 19.8 |
Cost of sales – products | 0.5 |  |  | 1.4 |  |  | 1.7 |  |  | 3.2 |
Selling and administrative expense | 9.9 |  |  | 25.4 |  |  | 23.0 |  |  | 52.4 |
Research, development and engineering expense | (0.1) |  |  | 0.5 |  |  | 2.5 |  |  | 3.0 |
Other operating income | — |  |  | 0.7 |  |  | 1.1 |  |  | 0.7 |
Total | $ | 12.6 |  |  | $ | 31.8 |  |  | $ | 48.9 |  |  | $ | 79.1 |
The following table summarizes the Company’s severance accrual balance and related activity:
| 2025 |  | 2024
Beginning balance as of January 1 | $ | 15.9 |  |  | $ | 10.3 |
Severance accrual | 35.4 |  |  | 27.2 |
Payout/Settlement | (34.4) |  |  | (22.8) |
Other | 0.6 |  |  | 0.1 |
Ending balance as of September 30 | $ | 17.5 |  |  | $ | 14.8 |

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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/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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