Special Items (Tables)

6 Months Ended

Jun. 30, 2021

Unusual or Infrequent Items, or Both [Abstract]


	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
	(In millions)
Employee-related charges
Restructuring	$	3.7	$	20.8	$	7.3	$	52.9
Impairments or asset abandonment charges
North America - Asset abandonment(1)	2.7		35.7		5.6		89.9
North America - Impairment losses(2)	—		7.6		—		7.6
Europe - Asset abandonment	2.6		0.2		4.7		0.5

Termination fees and other (gains) losses
North America	—		—		0.4		—
Europe(3)	—		—		1.9		—
Total Special items, net	$	9.0	$	64.3	$	19.9	$	150.9

(1) In January 2020, we announced plans to cease production at our Irwindale, California brewery and entered into an option agreement with Pabst Brewing Company, LLC ("Pabst"), granting Pabst an option to purchase our Irwindale, California brewery, including plant equipment and machinery and the underlying land for $150 million, subject to adjustment as further specified in the option agreement. Pursuant to the option agreement, on May 4, 2020, Pabst exercised its option to purchase the Irwindale brewery and the purchase was completed in the fourth quarter of 2020. Production at the Irwindale brewery ceased during the third quarter of 2020. Charges incurred in the three and six months ended June 30, 2021 were immaterial. Charges associated with the brewery closure for the three and six months ended June 30, 2020 totaled $40.3 million and $98.3 million, respectively, and primarily consisted of accelerated depreciation in excess of normal depreciation, as well as other closure costs including employee related costs.

In addition, during the three and six months ended June 30, 2021 and June 30, 2020 we incurred asset abandonment charges, primarily related to the accelerated depreciation in excess of normal depreciation as a result of the Montreal brewery closure, which is expected to occur in the second half of 2021.

(2) During the three and six months ended June 30, 2020 we recognized an aggregate impairment loss of $7.6 million related to the closure of the office facility in Denver, Colorado, including our lease right-of-use asset, in light of the sublease market outlook during that same period as a result of the coronavirus pandemic. No further impairment was recorded in 2021 due to the signing of sublease agreements during the three months ended June 30, 2021.

(3) During the six months ended June 30, 2021, we recognized termination fees and other losses of $1.9 million related to the sale of a disposal group within our India business which represented an insignificant part of our Europe segment. The loss includes the reclassification of the associated cumulative foreign currency translation adjustment losses from AOCI into special items, net at the time of sale. See Note 10, "Accumulated Other Comprehensive Income (Loss)" for further details.

Change in the restructuring accrual

The accrued restructuring balances as of June 30, 2021 represent expected future cash payments required to satisfy our remaining obligations to terminated employees, the majority of which we expect to be paid in the next 12 months.


	North America		Europe		Total
	(In millions)
As of December 31, 2020	$	24.5	$	2.0	$	26.5
Charges incurred	6.1		1.1		7.2
Payments made	(16.4)		(1.4)		(17.8)
Changes in estimates	0.2		(0.1)		0.1
Foreign currency and other adjustments	0.2		—		0.2
As of June 30, 2021	$	14.6	$	1.6	$	16.2


	North America		Europe		Total
	(In millions)
As of December 31, 2019	$	42.6	$	4.5	$	47.1
Charges incurred	47.8		8.0		55.8
Payments made	(39.5)		(9.2)		(48.7)
Changes in estimates	(2.1)		(0.8)		(2.9)
Foreign currency and other adjustments	(0.5)		(0.1)		(0.6)
As of June 30, 2020	$	48.3	$	2.4	$	50.7