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Cost-Reduction Actions
 6 Months Ended
Jun. 30, 2024
Restructuring and Related Activities [Abstract]  
Cost-Reduction Actions Cost-Reduction Actions
The company from time to time initiates cost reduction actions designed to improve operating efficiency, reduce costs and align the company’s workforce and facility structures to its overall business plan.
During the three months ended June 30, 2024, the company recognized net cost-reduction charges and other costs of $0.6 million. The net credit related to workforce reductions was $0.7 million, principally related to severance costs, and was comprised of: (a) a credit of $1.0 million for changes in estimates and (b) a charge of $0.3 million. The company recorded charges of $1.3 million comprised of $1.2 million for net foreign currency losses related to exiting foreign countries and $0.1 million for other expenses related to cost reduction efforts.
During the three months ended June 30, 2023, the company recognized net cost-reduction charges and other costs of $3.5 million. The net charges related to workforce reductions were $2.1 million, principally related to severance costs, and were comprised of: (a) a charge of $3.9 million and (b) a credit of $1.8 million for changes in estimates. In addition, the company recorded charges of $1.4 million comprised of $1.3 million for professional fees and other expenses related to cost-reduction efforts and $0.1 million for net foreign currency losses related to exiting foreign countries.
During the six months ended June 30, 2024, the company recognized net cost-reduction charges and other costs of $6.9 million. The net charges related to workforce reductions were $5.9 million, principally related to severance costs, and were comprised of: (a) a charge of $9.7 million and (b) a credit of $3.8 million for changes in estimates. The company recorded a net charge of $1.0 million comprised of a charge of $1.7 million for net foreign currency losses related to exiting foreign countries and a net credit of $0.7 million for changes in estimates related to other cost-reduction efforts.
During the six months ended June 30, 2023, the company recognized net cost-reduction charges and other costs of $0.7 million. The net charges related to workforce reductions were $2.8 million, principally related to severance costs, and were comprised of: (a) a charge of $6.5 million and (b) a credit of $3.7 million for changes in estimates. In addition, the company recorded a net credit of $2.1 million comprised of a credit of $3.4 million for net foreign currency gains related to exiting foreign countries and a charge of $1.3 million for professional fees and other expenses related to cost-reduction efforts.
The charges (credits) were recorded in the following statement of income (loss) classifications:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Cost of revenue$0.4 $2.8 $1.4 $3.4 
Selling, general and administrative(1.1)0.5 2.7 0.5 
Research and development0.1 0.1 1.1 0.2 
Other (expense), net1.2 0.1 1.7 (3.4)
Total$0.6 $3.5 $6.9 $0.7 
Liabilities and expected future payments related to the company’s work-force reduction actions are as follows:
TotalU.S.International
Balance at December 31, 2023$9.4 $2.5 $6.9 
Additional provisions9.7 3.1 6.6 
Payments(4.4)(0.9)(3.5)
Changes in estimates(3.8)(0.1)(3.7)
Translation adjustments(0.1)— (0.1)
Balance at June 30, 2024$10.8 $4.6 $6.2 
Expected future utilization on balance at June 30, 2024:
Short-term$10.8 $4.6 $6.2