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Restructuring

12 Months Ended

Jan. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

In the first quarter of 2020, the Company took restructuring actions to align costs with expected revenues, position the organization to adopt a new operating model later in 2020 and to align the U.S. field office facilities footprint with a more technology-enabled service delivery methodology.

In the fourth quarter of 2020, the Company took several restructuring actions with a goal to provide sustainable cost reductions as a result of the continuing COVID-19 demand disruption. The restructuring actions included involuntary terminations, a Voluntary Separation Plan ("VSP") and a Voluntary Retirement Plan ("VRP"). Employees were included in the VSP based on the functions that were being reorganized, and not by age or years of service. For the VRP, eligible employees were selected based on their age and years of service.

Restructuring costs incurred in 2020 totaled $12.8 million and are recorded entirely in SG&A expenses in the consolidated statements of earnings, as detailed below (in millions of dollars).

			Lease Termination Costs						Severance Costs						Total
Professional & Industrial			$	3.5					$	2.5					$	6.0
Science, Engineering & Technology			0.5						0.1						0.6
Education			0.1						0.9						1.0
Outsourcing & Consulting			—						0.3						0.3
International			0.7						0.7						1.4
Corporate			—						3.5						3.5
Total			$	4.8					$	8.0					$	12.8

Restructuring costs incurred in 2019 totaled $5.5 million. Professional & Industrial incurred $5.1 million and Science, Engineering & Technology incurred $0.4 million. The restructuring costs, which were all severance related, were recorded in SG&A expenses in the consolidated statements of earnings. No restructuring costs were incurred in 2018.

A summary of our global restructuring balance sheet accrual, included in accrued payroll and related taxes and accounts payable and accrued liabilities in the consolidated balance sheet, is detailed below (in millions of dollars).

Balance as of year-end 2019			$	0.3
Additions charged to Professional & Industrial			6.0
Additions charged to Science, Engineering & Technology			0.6
Additions charged to Education			1.0
Additions charged to Outsourcing & Consulting			0.3
Additions charged to International			1.4
Additions charged to Corporate			3.5
Reductions for lease termination costs related to fixed assets			(0.6)
Reductions for cash payments related to all restructuring activities			(9.0)
Balance as of year-end 2020			$	3.5

The remaining balance of $3.5 million as of year-end 2020 primarily represents severance costs and the majority is expected to be paid during the first two quarters of 2021. No material adjustments are expected to be recorded.

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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

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