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Restructuring

6 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring

10. Restructuring

The Company recorded $3.9 million and $6.8 million of restructuring expense for the six months ended June 30, 2021 and 2020, respectively. The net restructuring provision was zero for the three months ended June 30, 2021 and $6.5 million for the three months ended June 30, 2020. The restructuring expenses were primarily for severance costs and termination of lease agreements related to cost reduction initiatives in our North America and International segments.

The summary of the activity in the restructuring liability for the six months ended June 30, 2021, was as follows:

(in millions)			Balance at December 31, 2020												Provision						Cash Expenditures						Non-cash Items/ Currency Change						Balance at June 30, 2021
Employee termination costs(1)			$	8.1											$	3.4					$	(5.1)					$	(0.1)					$	6.3
Termination of lease agreements(2)			1.0												0.3						(0.7)						1.3						1.9
Other(3)			0.2												0.2						(0.2)						(0.1)						0.1
Total restructuring liability			$	9.3											$	3.9					$	(6.0)					$	1.1					$	8.3

(1) We expect the remaining $6.3 million employee termination costs to be substantially paid in the next nine months.

(2) We expect the remaining $1.9 million lease termination costs to be substantially paid in the next nine months.

(3) We expect the remaining $0.1 million of other costs to be substantially paid in the next six months.

The summary of the activity in the restructuring liability for the six months ended June 30, 2020, was as follows:

(in millions)			Balance at December 31, 2019												Provision						Cash Expenditures						Non-cash Items/ Currency Change						Balance at June 30, 2020
Employee termination costs			$	10.7											$	6.3					$	(4.9)					$	(0.3)					$	11.8
Termination of lease agreements			0.6												—						(0.5)						—						0.1
Other			0.5												0.5						(0.3)						(0.4)						0.3
Total restructuring liability			$	11.8											$	6.8					$	(5.7)					$	(0.7)					$	12.2

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- References

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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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