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Cost-reduction actions

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Cost-reduction actions

Cost-reduction actions

During 2021, the company recognized cost-reduction charges and other costs of $23.2 million. The net charges related to work-force reductions were $0.4 million, principally related to severance costs, and were comprised of: (a) a charge of $12.3 million and (b) a credit of $11.9 million for changes in estimates. In addition, the company recorded charges of $22.8 million comprised of $4.0 million for net foreign currency losses related to exiting foreign countries, $12.6 million for asset impairments and $6.2 million for other expenses related to cost-reduction efforts.

During 2020, the company recognized cost-reduction charges and other costs of $95.5 million. The net charges related to work-force reductions were $25.5 million principally, related to severance costs, and were comprised of: (a) a charge of $39.0 million and (b) a credit of $13.5 million for changes in estimates. In addition, the company recorded charges of $70.0 million

comprised of $32.3 million for net foreign currency losses related to exiting foreign countries, $24.0 million for asset impairments and $13.7 million for other expenses related to cost-reduction efforts.

During 2019, the company recognized cost-reduction charges and other costs of $28.7 million. The net charges related to work-force reductions were $22.1 million, principally related to severance costs, and were comprised of: (a) a charge of $25.7 million and (b) a credit of $3.6 million for changes in estimates. In addition, the company recorded charges of $6.6 million comprised of $4.6 million for lease abandonment costs, $1.1 million for asset write-offs and $0.9 million for other expenses related to cost-reduction efforts.

The charges (credits) were recorded in the following statement of income (loss) classifications:

Year ended December 31,						2021						2020						2019
Cost of revenue
Services						$	(2.5)					$	22.2					$	10.8
Technology						7.6						—						0.2
Selling, general and administrative						11.1						38.5						15.5
Research and development						3.0						2.5						2.2
Other (expenses), net						4.0						32.3						—
Total						$	23.2					$	95.5					$	28.7

Liabilities and expected future payments related to the company’s work-force reduction actions are as follows:

						Total						U.S.						International
Balance at December 31, 2018						$	86.2					$	6.1					$	80.1
Additional provisions						25.7						4.6						21.1
Payments						(57.7)						(4.0)						(53.7)
Changes in estimates						(3.6)						(1.5)						(2.1)
Translation adjustments						(0.8)						—						(0.8)
Balance at December 31, 2019						49.8						5.2						44.6
Additional provisions						39.0						13.8						25.2
Payments						(21.5)						(3.2)						(18.3)
Changes in estimates						(13.5)						(2.7)						(10.8)
Translation adjustments						2.1						—						2.1
Balance at December 31, 2020						55.9						13.1						42.8
Additional provisions						12.3						7.9						4.4
Payments						(38.5)						(13.2)						(25.3)
Changes in estimates						(11.9)						(2.1)						(9.8)
Translation adjustments						(1.5)						—						(1.5)
Balance at December 31, 2021						$	16.3					$	5.7					$	10.6
Expected future payments on balance at December 31, 2021:
In 2022						$	14.9					$	5.7					$	9.2
Beyond 2022						1.4						—						1.4

X

- 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://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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- References

No definition available.

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