XML 32 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Management Actions
12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Management Actions Management Actions
Restructuring Actions
In 2024 and 2023, we incurred restructuring expenses as part of our ongoing global reorganization efforts. The following pre-tax restructuring charges were included in the consolidated statements of income:
20242023
Severance-related costs - Selling and administrative expense$8.2 $1.9 
Severance-related costs - Cost of sales— 0.7 
Other costs - Selling and administrative expense(a)
— 0.3 
Total pre-tax restructuring costs$8.2 $2.9 
(a)Includes facility exit costs associated with facility moves.
Our restructuring actions represent the continued execution of a multi-year enterprise strategy to drive increased productivity throughout our operations. The charges in 2024 impacted all operating segments and
were related to a global workforce realignment to support our key strategic initiatives. The charges in 2023 impacted the Europe, Middle East and Africa ("EMEA") and Asia Pacific ("APAC") operating segments.
A reconciliation to the ending liability balance of severance and related costs as of December 31, 2024 and 2023 is as follows:
20242023
Beginning balance$2.4 $1.7 
New charges8.8 3.2 
Cash payments(2.3)(1.9)
Foreign currency adjustments0.3 — 
Adjustment to accrual(0.6)(0.6)
Ending balance$8.6 $2.4