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Restructuring and Other (Income) Charges, net | 6 Months Ended
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Jun. 30, 2020
Restructuring and Related Activities [Abstract] |
Restructuring and Other (Income) Charges, net | Restructuring and Other (Income) Charges, netWe continually perform strategic reviews and assess the return on our operations which sometimes results in a plan to restructure the business. The cost and benefit of these strategic restructuring initiatives are recorded as restructuring and other (income) charges, net in our condensed consolidated statements of operations. These costs are excluded from our operating segment results. Detail on the restructuring charges and other (income) charges, net, is provided below.
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
In millions | 2020 |  | 2019 |  | 2020 |  | 2019
Gain on sale of assets and businesses | $ | — |  |  | $ | (0.4) |  |  | $ | — |  |  | $ | (0.4) |
Severance and other employee-related costs | 5.8 |  |  | — |  |  | 6.0 |  |  | — |
Other | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Restructuring charges | 5.8 |  |  | 0.3 |  |  | 6.0 |  |  | 0.3 |
Business transformation costs | 1.5 |  |  | — |  |  | 1.8 |  |  | — |
Other | — |  |  | — |  |  | — |  |  | — |
Other (income) charges, net | 1.5 |  |  | — |  |  | 1.8 |  |  | — |
Total restructuring and other (income) charges, net | $ | 7.3 |  |  | $ | 0.3 |  |  | $ | 7.8 |  |  | $ | 0.3 |
Restructuring charges 2020 activities During the second quarter of 2020, we implemented a cost reduction initiative to realign our cost structure in response to reduced demand for some of our products in response to the COVID-19 pandemic. As a result of this cost reduction initiative, we recorded $5.8 million in severance and other employee-related costs in the three months ended June 30, 2020. During the six months ended June 30, 2020, we recorded $6.0 million, which in addition to the second quarter activity, included severance and other employee-related costs associated with the reorganization initiated in the third quarter of 2019. 2019 activities In April 2019, we sold assets from the Performance Chemicals derivatives operations in Palmeira, Brazil. These assets were part of a facility that was closed as a result of a restructuring event in 2016. As a result of this sale, we recorded $0.4 million as a gain on sale of assets, as well as $0.7 million related to other miscellaneous exit costs, in the three months ended June 30, 2019. Rollforward of Restructuring Reserves The following table shows a roll forward of restructuring reserves that will result in cash spending.
| Balance at |  | Change in |  | Cash |  |  |  | Balance at
In millions | 12/31/2019(1) |  | Reserve(2) |  | Payments |  | Other |  | 6/30/2020(1)
Restructuring Reserves | $ | 0.4 |  |  | 6.0 |  |  | (0.6) |  |  | — |  |  | $ | 5.8 |
_______________ (1) Included in "Accrued Expenses" on the condensed consolidated balance sheets. (2) Includes severance and other employee-related costs.

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