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Restructuring
6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring

9. Restructuring

 

The Company recorded $3.3 million and $2.2 million of restructuring expense for the six months ended June 30, 2023 and 2022, respectively. Restructuring expense was zero for the three months ended June 30, 2023 and $1.9 million for the three months ended June 30, 2022, which was primarily for severance costs related to cost reduction initiatives in our North America and EMEA segments.

 

The summary of the activity in the restructuring liability for the six months ended June 30, 2023, was as follows:

 

 

 

Balance at

 

 

 

 

 

Non-cash Items /

 

Balance at

(in millions)

 

December 31,
2022

 

Provision

 

Cash
Expenditures

 

Currency
Change

 

June 30,
2023

Employee termination costs(1)

$

8.7

$

2.6

$

(5.3)

$

0.1

$

6.1

Other(2)

 

 

0.7

 

(0.1)

 

 

0.6

Total restructuring liability

$

8.7

$

3.3

$

(5.4)

$

0.1

$

6.7

 

(1)
We expect the remaining $6.1 million employee termination costs to be substantially paid in the next nine months.
(2)
We expect the remaining $0.6 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, 2022, was as follows:

 

 

Balance at

 

 

 

 

 

Non-cash Items /

 

Balance at

(in millions)

 

December 31,
2021

 

Provision

 

Cash
Expenditures

 

Currency
Change

 

June 30,
2022

Employee termination costs

$

3.4

$

1.8

$

(2.0)

$

(0.1)

$

3.1

Termination of lease agreements

 

1.1

 

 

(0.8)

 

 

0.3

Other

 

 

0.4

 

(0.4)

 

 

Total restructuring liability

$

4.5

$

2.2

$

(3.2)

$

(0.1)

$

3.4