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Note 4 - Management Actions | 12 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] |
| 4. | Management Actions
Restructuring Actions In 2021, we implemented restructuring actions as part of our global reorganization efforts. The pre-tax charge of $4.1 million consisted of severance-related costs. Of these restructuring costs, $3.3 million were included in selling and administrative expense and $0.8 million were included in cost of sales in the consolidated statements of income in 2021. The charges primarily impacted the EMEA and APAC operating segments. In 2020, we implemented several restructuring actions as part of our global reorganization efforts. The pre-tax charge of $8.6 million consisted of severance-related costs and $2.4 million of other costs. Of the restructuring costs, $7.1 million were included in selling and administrative expense and $1.5 million were included in cost of sales in the consolidated statements of income. The charges impacted all operating segments. A reconciliation to the ending liability balance of severance and related costs as of December 31, 2021 is as follows:
|  | 2021 |  |  | 2020 |
Beginning balance |  | $ | 4.5 |  |  | $ | 4.5 |
New charges |  |  | 4.1 |  |  |  | 6.2 |
Cash payments |  |  | (2.9 | ) |  |  | (5.4 | )
Foreign currency adjustments |  |  | (0.2 | ) |  |  | 0.2 |
Adjustment to accrual |  |  | (0.6 | ) |  |  | (1.0 | )
Ending balance |  | $ | 4.9 |  |  | $ | 4.5 |
Other Actions In 2019, we made the decision to exit certain product lines, and as a result, recorded $3.3 million in cost of sales to reflect our estimate of inventory that would not be sold. During the year ended December 31, 2020, we recorded an additional $1.7 million in cost of sales in the consolidated statements of income to reflect our estimate of inventory that would not be sold, all of which was recorded in the first quarter 2020. During the second quarter of 2019, we recorded a $2.7 million write-down of a portion of a note receivable related to the divestiture of the Green Machine business to adjust the balance to net realizable value. This write-down was recorded in selling and administrative expense. In the third quarter of 2019, we collected the remaining balance of the note receivable.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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