XML 79 R50.htm IDEA: XBRL DOCUMENT v3.25.0.1

Restructuring and Other (Income) Charges, net (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Detail on the restructuring charges and other (income) charges, net is provided below.

			Years Ended December 31,
In millions			2024						2023						2022
Restructuring charges			$	175.0					$	125.6					$	—
Other (income) charges, net			11.2						44.6						13.8
Total Restructuring and other (income) charges, net			$	186.2					$	170.2					$	13.8

Restructuring Charges

In millions			Severance and other employee-related costs						Other charges (income) (1)						Asset disposal charges (2)						Total
Performance Chemicals' repositioning			$	9.8					$	39.7					$	123.2					$	172.7
Other (3)			0.3						0.4						1.6						2.3
Year ended December 31, 2024			$	10.1					$	40.1					$	124.8					$	175.0
Performance Chemicals' repositioning			8.6						1.5						103.0						113.1
Other (3)			9.8						0.1						2.6						12.5
Year ended December 31, 2023			$	18.4					$	1.6					$	105.6					$	125.6
Other			—						—						—						—
Year ended December 31, 2022			$	—					$	—					$	—					$	—

_______________

(1) Primarily represents costs associated with contract terminations, plant and equipment decommissioning charges and other miscellaneous exit costs.

(2) Primarily represents property, plant, and equipment and finite-lived intangible asset write-downs, accelerated depreciation and amortization, and impairment charges on certain assets, which were or are to be disposed of or abandoned. Also included, to the extent incurred, the acceleration effect of re-estimating settlement dates and revised cost estimates associated with asset retirement obligations related to asset disposal charges that are included within restructuring charges.

(3) During 2023, we incurred severance and asset charges associated with targeted workforce reduction initiatives. During 2024, we took further steps to streamline our Performance Chemicals cost structure and improve the profitability of the segment, resulting in additional restructuring charges of $2.3 million, including $1.6 million in asset disposal charges, $0.2 million in foreign currency translation adjustments, and $0.2 million in other charges.

Schedule of Restructuring Reserve

The following table shows a roll forward of restructuring reserves that will result in cash spending, the majority of which relate to the Performance Chemicals' repositioning.

			Balance at						Change in						Cash												Balance at
In millions			12/31/2023 (1)						Reserve (2)						Payments						Other (3)						12/31/2024 (1)
Severance and other employee-related costs			$	7.3					10.1						(13.0)						(0.2)						$	4.2
Other charges (income)			0.9						40.1						(39.9)						(0.2)						0.9
Restructuring			8.2						50.2						(52.9)						(0.4)						5.1
Other (income) charges, net			—						6.4						(6.4)						—						—
Restructuring and Other (income) charges, net reserves			$	8.2					56.6						(59.3)						(0.4)						$	5.1
			Balance at						Change in						Cash												Balance at
In millions			12/31/2022 (1)						Reserve (2)						Payments						Other (3)						12/31/2023 (1)
Severance and other employee-related costs			$	—					8.6						(1.5)						0.2						$	7.3
Other charges (income)			0.5						11.4						(11.0)						—						0.9
Restructuring			0.5						20.0						(12.5)						0.2						8.2
Other (income) charges, net			—						31.5						(31.5)						—						—
Restructuring and Other (income) charges, net reserves			$	0.5					51.5						(44.0)						0.2						$	8.2

_______________

(1) Included in "Accrued expenses" on the consolidated balance sheets.

(2) Includes severance and other employee-related costs, exited leases, CTO supply contract terminations and other miscellaneous exit costs. Any asset write-downs including accelerated depreciation and impairment charges are not included in the above table.

(3) Primarily foreign currency translation adjustments.

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

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration