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Restructuring
9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring

9. Restructuring

 

The Company recorded $3.0 million and $6.3 million of restructuring expense for the three and nine months ended September 30, 2023, respectively, which was primarily related to severance costs in EMEA associated with our footprint rationalization program. For the three and nine months ended September 30, 2022, we recorded restructuring expense of $0.1 million and $2.3 million, respectively, 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 nine months ended September 30, 2023, was as follows:

 

 

 

Balance at

 

 

 

 

 

Non-cash Items /

 

Balance at

(in millions)

 

December 31,
2022

 

Provision

 

Cash
Expenditures

 

Currency
Change

 

September 30,
2023

Employee termination costs(1)

$

8.7

$

4.9

$

(6.9)

$

$

6.7

Other(2)

 

 

1.4

 

(0.2)

 

 

1.2

Total restructuring liability

$

8.7

$

6.3

$

(7.1)

$

$

7.9

 

(1)
We expect the remaining $6.7 million employee termination costs to be substantially paid in the next twelve months.
(2)
We expect the remaining $1.2 million of other costs to be substantially paid in the next twelve months.

 

The summary of the activity in the restructuring liability for the nine months ended September 30, 2022, was as follows:

 

 

Balance at

 

 

 

 

 

Non-cash Items /

 

Balance at

(in millions)

 

December 31,
2021

 

Provision

 

Cash
Expenditures

 

Currency
Change

 

September 30,
2022

Employee termination costs

$

3.4

$

1.9

$

(3.4)

$

(0.2)

$

1.7

Termination of lease agreements

 

1.1

 

 

(0.9)

 

 

0.2

Other

 

 

0.4

 

(0.4)

 

 

Total restructuring liability

$

4.5

$

2.3

$

(4.7)

$

(0.2)

$

1.9