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Restructuring
 9 Months Ended
Sep. 30, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
Overview
2020 Repositioning - In the second quarter of 2020, we initiated actions to reduce our global workforce in response to the adverse economic impact of COVID-19 and integration actions related to the Cummins-Allison acquisition. These actions include workforce reductions of approximately 1,000 employees, or about 9% of our global workforce.
2019 Repositioning - In the fourth quarter of 2019, we initiated actions to consolidate two manufacturing operations within our Fluid Handling segment. These actions included workforce reductions of approximately 180 employees, or less than 1% of our global workforce.
2017 Repositioning - In the fourth quarter of 2017, we initiated broad-based repositioning actions designed to improve profitability. These actions included headcount reductions of approximately 300 employees, or about 3% of our global workforce, and select facility consolidations in North America and Europe.
Acquisition-Related Restructuring - In the third quarter of 2018, we initiated actions within our Payment & Merchandising Technologies segment related to the closure of Crane Currency’s printing operations in Sweden, which were transitioned to a new print facility in Malta. These actions included workforce reductions of approximately 170 employees, or less than 2% of our global workforce. There is no remaining liability associated with these actions as of December 31, 2019, and we do not expect to incur additional restructuring charges.
Other Restructuring - In the second quarter of 2020, we recorded other restructuring costs within our Payment & Merchandising Technologies segment. There is no remaining liability associated with these actions as of September 30, 2020, and we do not expect to incur additional restructuring charges.
Restructuring Charges, Net
During the three- and nine-month periods ended September 30, 2020, we recorded pre-tax charges primarily related to new restructuring actions (“2020 Repositioning”) as described above. These charges are reflected in the Condensed Consolidated Statements of Operations as “Restructuring charges, net.”
Restructuring charges, net by segment are as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in millions)
2020
 
2019
 
2020
 
2019
Fluid Handling 1
$
—

 
$
—

 
$
4.7

 
$
0.8

Payment & Merchandising Technologies 2
—

 
1.6

 
12.6

 
5.4

Aerospace & Electronics 3
—

 
—

 
4.7

 
(0.1
)
Engineered Materials
—

 
—

 
0.6

 
—

Total restructuring charges, net 4
$
—

 
$
1.6

 
$
22.6

 
$
6.1

1 We also recorded related costs of $1.2 million and $2.6 million for the three months ended September 30, 2020 and 2019, respectively, and $3.0 million and $6.4 million for the nine months ended September 30, 2020 and 2019, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
2 We also recorded related costs of $0.2 million and $(0.6) million for the three months ended September 30, 2020 and 2019, respectively, and $1.0 million and $0.4 million for the nine months ended September 30, 2020 and 2019, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
3 We also recorded related costs of $0.7 million and $2.8 million for the three and nine months ended September 30, 2019, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
4 We also recorded related costs of $1.4 million and $2.6 million for the three months ended September 30, 2020 and 2019, respectively, and $4.0 million and $9.3 million for the nine months ended September 30, 2020 and 2019, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.


The following table summarizes our restructuring charges, net by program, cost type and segment for the nine months ended September 30, 2020 and 2019:
 
Nine months ended September 30, 2020
 
Nine months ended September 30, 2019
(in millions)
Severance
Other
Total
 
Severance
Other
Total
Fluid Handling
$
4.7

$
—

$
4.7

 
$
—

$
—

$
—

Payment & Merchandising Technologies
13.8

1.0

14.8

 
—

—

—

Aerospace & Electronics
4.7

—

4.7

 
—

—

—

Engineered Materials
0.6

—

0.6

 
—

—

—

2020 Repositioning
$
23.8

$
1.0

$
24.8

 
$
—

$
—

$
—

 
 
 
 
 
 
 
 
Fluid Handling
$
—

$
—

$
—

 
$
0.8

$
—

$
0.8

Payment & Merchandising Technologies 1
(1.0
)
(1.5
)
(2.5
)
 
0.3

1.4

1.7

Aerospace & Electronics
—

—

—

 
—

(0.1
)
(0.1
)
2017 Repositioning
$
(1.0
)
$
(1.5
)
$
(2.5
)
 
$
1.1

$
1.3

$
2.4

 
 
 
 
 
 
 
 
Payment & Merchandising Technologies
$
—

$
—

$
—

 
$
0.9

$
2.8

$
3.7

Acquisition-Related Restructuring
$
—

$
—

$
—

 
$
0.9

$
2.8

$
3.7

 
 
 
 
 
 
 
 
Payment & Merchandising Technologies
$
0.3

$
—

$
0.3

 
$
—

$
—

$
—

Other Restructuring
$
0.3

$
—

$
0.3

 
$
—

$
—

$
—

 
 
 
 
 
 
 
 
Total
$
23.1

$
(0.5
)
$
22.6

 
$
2.0

$
4.1

$
6.1

1 We recorded a pre-tax gain of $1.5 million related to the sale of a facility in the first nine months of 2020.

The following table summarizes the cumulative restructuring costs incurred through September 30, 2020 and the remaining costs related to facility consolidations expected to complete these actions as of September 30, 2020:
 
Cumulative Restructuring Costs
 
Remaining Costs
(in millions)
Severance
Other
Total
 
2020
2021
Total
Fluid Handling
$
4.7

$
—

$
4.7

 
$
—

$
—

$
—

Payment & Merchandising Technologies
13.8

1.0

14.8

 
—

—

—

Aerospace & Electronics
4.7

—

4.7

 
—

—

—

Engineered Materials
0.6

—

0.6

 
—

—

—

2020 Repositioning
$
23.8

$
1.0

$
24.8

 
$
—

$
—

$
—

 
 
 
 
 
 
 
 
Fluid Handling
$
9.9

$
—

$
9.9

 
$
3.8

$
4.2

$
8.7

2019 Repositioning
$
9.9

$
—

$
9.9

 
$
3.8

$
4.2

$
8.7

 
 
 
 
 
 
 
 
Fluid Handling
$
17.3

$
—

$
17.3

 
$
0.8

$
—

$
0.8

Payment & Merchandising Technologies
11.6

0.7

12.3

 
—

—

—

Aerospace & Electronics
1.3

(1.4
)
(0.1
)
 
—

—

—

2017 Repositioning
$
30.2

$
(0.7
)
$
29.5

 
$
0.8

$
—

$
0.8


Restructuring Liability
The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions)
 
2020 Repositioning
2019 Repositioning
2017 Repositioning
Other Restructuring
Total
Severance:
 
 
 
 
 
 
Balance at December 31, 2019
 
$
—

$
9.9

$
12.5

$
—

$
22.4

Expense (Gain)1
 
23.8

—

(1.0
)
0.3

23.1

Utilization
 
(18.8
)
—

(2.6
)
(0.3
)
(21.7
)
Balance at September 30, 2020 2
 
$
5.0

$
9.9

$
8.9

$
—

$
23.8

 
 
 
 
 
 
 
Other Restructuring Costs:
 
 
 
 
 
 
Balance at December 31, 2019
 
$
—

$
—

$
0.2

$
—

$
0.2

Expense (Gain)1
 
1.0

—

(1.5
)
—

(0.5
)
Utilization
 
(1.0
)
—

1.3

—

0.3

Balance at September 30, 2020
 
$
—

$
—

$
—

$
—

$
—

1 Reflected in the Condensed Consolidated Statements of Operations as “Restructuring charges, net”
2 Included within Accrued Liabilities in the Condensed Consolidated Balance Sheets