XML 104 R9.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Restructuring And Related Charges | 3 Months Ended
--- | ---
Dec. 29, 2019
Restructuring And Related Charges [Abstract] |
Restructuring And Related Charges | NOTE 3 - RESTRUCTURING AND RELATED CHARGES Global Productivity Improvement Plan – During the year ended September 30, 2019, the Company initiated a company-wide, multi-year program, which consists of various restructuring related initiatives to redirect resources and spending to drive growth, identify cost savings and pricing opportunities through standardization and optimization, develop organizational and operating optimization, and reduce overall operational complexity across the Company. Since the announcement of the project and completion of the Company’s divestitures of GBL and GAC during the year ended September 30, 2019, the project focus includes the transitioning of the Company’s continuing operations in a post-divestiture environment and separation with Energizer TSAs and reverse TSAs. Refer to Note 2 – Divestitures and Note 17 – Related Party Transactions for further discussion of continuing involvement with Energizer. The initiative includes review of global processes, opportunity spending and organization design and structures; headcount reductions and transfers; and rightsizing the Company’s shared operations and commercial business strategy in certain regions and local jurisdictions; among others. Total cumulative costs incurred associated with the project were $80.5 million as of December 29, 2019; with approximately $57.4 million forecasted in the foreseeable future. The project costs are anticipated to be incurred through the fiscal year ending September 30, 2022. Other Restructuring Activities – The Company may enter into small, less significant initiatives and restructuring related activities to reduce costs and improve margins throughout the organization. Individually these activities are not substantial and occur over a shorter time period (generally less than 12 months). The following summarizes restructuring and related charges for the three month periods ended December 29, 2019 and December 30, 2018:
|  | Three Month Periods Ended
(in millions) |  | December 29, 2019 |  | December 30, 2018
Global productivity improvement plan |  | $ | 26.6 |  | $ | 5.9
Other restructuring activities |  |  | 0.8 |  |  | 3.2
Total restructuring and related charges |  | $ | 27.4 |  | $ | 9.1
Reported as: |  |  |  |  |  |
Cost of goods sold |  | $ | 9.9 |  | $ | 0.9
Operating expense |  |  | 17.5 |  |  | 8.2
The following is a summary of restructuring and related charges for the three month periods ended December 29, 2019 and December 30, 2018 and cumulative costs for current restructuring initiatives as of December 29, 2019, by cost type.
|  | Termination |  | Other |  |
(in millions) |  | Benefits |  | Costs |  | Total
For the three month period ended December 29, 2019 |  | $ | 5.3 |  | $ | 22.1 |  | $ | 27.4
For the three month period ended December 30, 2018 |  |  | 1.6 |  |  | 7.5 |  |  | 9.1
Cumulative costs through December 29, 2019 |  |  | 12.7 |  |  | 67.8 |  |  | 80.5
Future costs to be incurred |  |  | 0.6 |  |  | 56.8 |  |  | 57.4
The following is a rollforward of the accrual related to all restructuring and related activities, included within Other Current Liabilities, by cost type for the three month period ended December 29, 2019.
|  | Termination |  | Other |  |
(in millions) |  | Benefits |  | Costs |  | Total
Accrual balance at September 30, 2019 |  | $ | 6.6 |  | $ | 27.0 |  | $ | 33.6
Adoption of ASU 842 (Note 1) |  |  | — |  |  | (4.3) |  |  | (4.3)
Provisions |  |  | 1.2 |  |  | 18.2 |  |  | 19.4
Cash expenditures |  |  | (1.6) |  |  | (30.6) |  |  | (32.2)
Non-cash items |  |  | — |  |  | 0.1 |  |  | 0.1
Accrual balance at December 29, 2019 |  | $ | 6.2 |  | $ | 10.4 |  | $ | 16.6
The following summarizes restructuring and related charges by segment for the three month periods ended December 29, 2019 and December 30, 2018, cumulative costs incurred through December 29, 2019, and future expected costs to be incurred by Spectrum’s segments of continuing operations:
(in millions) |  | HHI |  | HPC |  | GPC |  | H&G |  | Corporate |  | Total
For the three month period ended December 29, 2019 |  | $ | 0.5 |  | $ | 1.1 |  | $ | 10.3 |  | $ | 0.1 |  | $ | 15.4 |  | $ | 27.4
For the three month period ended December 30, 2018 |  |  | 2.8 |  |  | 0.2 |  |  | 2.6 |  |  | 0.7 |  |  | 2.8 |  |  | 9.1
Cumulative costs through December 29, 2019 |  |  | 1.1 |  |  | 9.2 |  |  | 10.5 |  |  | 1.9 |  |  | 57.8 |  |  | 80.5
Future costs to be incurred |  |  | 1.3 |  |  | 0.5 |  |  | 7.4 |  |  | 3.2 |  |  | 45.0 |  |  | 57.4

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration