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Management Actions

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Management Actions

Management Actions

Restructuring Actions

During the three and nine months ended September 30, 2024 and September 30, 2023, we incurred restructuring expenses as part of our ongoing global reorganization efforts. The following pre-tax restructuring charges were included in selling and administrative expense in the consolidated statements of income.

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Severance-related costs			$	—					$	—					$	0.6					$	1.2
Total pre-tax restructuring costs			$	—					$	—					$	0.6					$	1.2

The expense in 2024 impacted the Europe, Middle East and Africa (EMEA) operating segment. The expense in 2023 impacted the EMEA and Asia Pacific (APAC) operating segments.

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

			Nine Months Ended September 30,
			2024						2023
Beginning balance			$	2.4					$	1.7
New charges			1.2						1.1
Cash payments			(1.3)						(1.6)
Foreign currency fluctuations			(0.1)						—
Adjustments to accrual			(0.6)						0.1
Ending balance			$	1.6					$	1.3

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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
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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