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Restructuring and Other Items, net (Tables) | 12 Months Ended
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Dec. 31, 2023
Restructuring and Other Items, net [Abstract] |
Restructuring Charges by Segment | The following table outlines the amount of restructuring charges recorded within the Consolidated Statements of Income and the segments they relate to:
Restructuring and Other Items, net |  | Year Ended December 31, |
(millions of dollars) |  | 2023 |  |  | 2022 |  |  | 2021 |
Asset Write-Downs |  |  |  |  |  |  |  |  |
Consumer & Specialties |  | $ | 71.7 |  |  | $ | — |  |  | $ | 0.7 |
Total asset write-down charges |  | $ | 71.7 |  |  | $ | — |  |  | $ | 0.7 |
Severance and other employee costs |  |  |  |  |  |  |  |  |  |  |  |
Consumer & Specialties |  | $ | 0.9 |  |  | $ | — |  |  | $ | 0.4 |
Engineered Solutions |  |  | 3.2 |  |  |  | — |  |  |  | — |
Corporate |  |  | 2.8 |  |  |  | — |  |  |  | — |
Total severance and other employee costs |  | $ | 6.9 |  |  | $ | — |  |  | $ | 0.4 |
Total restructuring and other items, net |  | $ | 78.6 |  |  | $ | — |  |  | $ | 1.1 |
Reconciliation of Restructuring Liability | The following table is a reconciliation of our restructuring liability balance as of December 31, 2023 and 2022:
|  | December 31, |
(millions of dollars) |  | 2023 |  |  | 2022 |
Restructuring liability, beginning of period |  | $ | — |  |  | $ | 2.2 |
Additional provisions |  |  | 6.9 |  |  |  | — |
Cash payments |  |  | (2.8 | ) |  |  | (0.7 | )
Other |  |  | (0.3 | ) |  |  | (1.5 | )
Restructuring liability, end of period |  | $ | 3.8 |  |  | $ | — |

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- 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 -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 -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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- 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 -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -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 + Details
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