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Restructuring | 6 Months Ended
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Jun. 30, 2021
Restructuring And Related Activities [Abstract] |
Restructuring | 10. Restructuring 2020 Plan. In order to align our projected operational requirements with reduced short and mid-term commercial aerospace demand as a result of the Coronavirus Disease 2019 (“COVID-19”) pandemic, we initiated a restructuring plan during the quarter ended June 30, 2020, which consisted primarily of reduction in force measures (“2020 Plan”). Employee costs related to the 2020 Plan were included within Restructuring costs in our Statements of Consolidated (Loss) Income and consisted of severance, voluntary buyout packages, outplacement services, estimated medical costs and associated payroll costs. Substantially all of the costs associated with the restructuring efforts initiated under the 2020 Plan were incurred and expensed as of December 31, 2020. We have incurred total Restructuring costs of $6.7 million under the 2020 Plan through June 30, 2021. The following table summarizes the changes to our 2020 Plan liabilities during the six months ended June 30, 2021 (in millions of dollars):
|  | Six Months Ended June 30, 2021 |
Balance as of December 31, 2020 |  | $ | 1.4 |
Cash payments |  |  | (0.6 | )
Other adjustments1 |  |  | (0.8 | )
Balance as of June 30, 2021 |  | $ | — |
1 | In March 2021 and May 2021, we revised our production forecast for 2021, thereby reducing the estimated number of headcount reductions necessary as compared with our initial restructuring plan. As such, included in Other adjustments is a reduction to our estimated restructuring liability of $0.8 million with an offset to Restructuring costs to accommodate the revised headcount requirements.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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