XML 35 R23.htm IDEA: XBRL DOCUMENT v3.22.2.2
Restructuring Activities And Related Impairments
 9 Months Ended
Sep. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Activities And Related Impairments RESTRUCTURING ACTIVITIES AND RELATED IMPAIRMENTS
Restructuring Activities
The Company’s restructuring activities are undertaken as necessary to implement management’s strategy, streamline operations, take advantage of available capacity and resources, and ultimately achieve net cost reductions. These activities generally relate to the realignment of existing manufacturing capacity and closure of facilities and other exit or disposal activities, as it relates to executing the Company’s strategy, either in the normal course of business or pursuant to significant restructuring programs.
The related liability which is included in accrued liabilities in the Condensed Consolidated Balance Sheets is summarized below ($ in millions):
Employee Severance
and Related		Facility Exit
and Related		Total
Balance, December 31, 2021$21.4 $0.5 $21.9 
Costs incurred12.7 4.1 16.8 
Paid/settled(17.2)(3.9)(21.1)
Balance, September 30, 2022$16.9 $0.7 $17.6 

Restructuring related charges recorded for the three and nine months ended September 30, 2022 and October 1, 2021, by segment were as follows ($ in millions): 
Three Months EndedNine Months Ended
September 30, 2022October 1, 2021September 30, 2022October 1, 2021
Specialty Products & Technologies$4.5 $8.2 $12.7 $15.2 
Equipment & Consumables4.2 0.1 12.6 4.5 
Other0.9 0.3 2.8 4.1 
Total$9.6 $8.6 $28.1 $23.8 
The restructuring related charges incurred during the three and nine months ended September 30, 2022 and October 1, 2021, are reflected in the following captions in the accompanying Condensed Consolidated Statements of Income ($ in millions):
Three Months EndedNine Months Ended
September 30, 2022October 1, 2021September 30, 2022October 1, 2021
Cost of sales$3.4 $1.0 $10.0 $6.9 
Selling, general and administrative expenses6.2 7.6 18.1 16.9 
Total$9.6 $8.6 $28.1 $23.8