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Note 4 - Management Actions

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

4. Management Actions

Restructuring Actions

During the three months ended March 31, 2022 and March 31, 2021, we implemented restructuring actions as part of our global reorganization efforts. The pre-tax severance-related charges were as follows:

		Three Months Ended
		March 31,
		2022				2021
Selling and administrative expense		$	0.8			$	3.3
Cost of sales			—				0.8
Total pre-tax severance-related costs		$	0.8			$	4.1

The charges in 2022 primarily impacted the Americas operating segment. The charges in 2021 primarily impacted the EMEA and APAC operating segments. Our restructuring actions represent the continued execution of a multi-year enterprise strategy to drive increased productivity throughout our operations.

A reconciliation of the beginning and ending liability balances for severance-related costs is as follows:

		Three Months Ended
		March 31,
		2022				2021
Beginning balance		$	4.9			$	4.5
New charges			0.8				—
Cash payments			(0.7	)			(0.9	)
Foreign currency fluctuations			(0.1	)			(0.1	)
Adjustments to accrual			(0.6	)			—
Ending balance		$	4.3			$	3.5

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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
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-Subparagraph (SAB Topic 5.P.4(e))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI https://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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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 https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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