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Restructuring
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
Overview
2020 Repositioning - In the second quarter of 2020, we initiated actions 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 1,200 employees, or about 11% of our global workforce, and the exiting of two leased office facilities and one leased warehouse facility. We do not expect to incur additional restructuring charges.
2019 Repositioning - In the fourth quarter of 2019, we initiated actions to consolidate two manufacturing operations in Europe within our Process Flow Technologies segment. In 2020, we recorded additional severance costs related to the final negotiation with the works council/union at both locations. These actions, taken together, included workforce reductions of approximately 180 employees, or less than 1% of our global workforce. We expect to complete the program in the fourth quarter of 2023.
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. In 2020, we adjusted the estimate downward to reflect the impact of employees that chose to voluntarily terminate prior to receiving severance at the conclusion of the actions in North America. In 2021, we recorded a gain on sale of real estate related to these actions. We expect to complete the program in the first quarter of 2022.
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. 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. We do not expect to incur additional restructuring charges.
Restructuring (Gains) Charges, Net
We recorded restructuring (gains) charges which are reflected in the Consolidated Statements of Operations, as follows:
(in millions) For the year ended December 31,202120202019
Aerospace & Electronics
$— $6.5 $(0.4)
Process Flow Technologies(13.2)6.1 10.5 
Payment & Merchandising Technologies(3.7)19.1 7.4 
Total restructuring (gains) charges, net$(16.9)$31.7 $17.5 
The following table summarizes our restructuring (gains) charges by program, cost type and segment for the years ended December 31, 2021, 2020 and 2019:
December 31, 2021December 31, 2020December 31, 2019
(in millions)SeveranceOtherTotalSeveranceOtherTotalSeveranceOtherTotal
Aerospace & Electronics$— $— $— $6.5 $— $6.5 $— $— $— 
Process Flow Technologies(0.1)
(a)
— (0.1)3.8 — 3.8 — — — 
Payment & Merchandising Technologies (0.8)
(a)
(2.8)(3.6)16.6 4.6 
(b)
21.2 — — — 
2020 Repositioning(0.9)
(a)
(2.8)(3.7)26.9 4.6 31.5 — — — 
Process Flow Technologies0.1 — 0.1 6.1 
(a)
— 6.1 9.9 — 9.9 
2019 Repositioning0.1 — 0.1 6.1 — 6.1 9.9 — 9.9 
Aerospace & Electronics— — — — — — — (0.4)(0.4)
Process Flow Technologies(0.4)
(a)
(12.7)
(c)
(13.1)(3.8)
(a)
— (3.8)0.6 — 0.6 
Payment & Merchandising Technologies(0.2)
(a)
— (0.2)(0.9)
(a)
(1.5)
(d)
(2.4)0.3 1.8 2.1 
2017 Repositioning(0.6)
(a)
(12.7)
(c)
(13.3)(4.7)
(a)
(1.5)
(d)
(6.2)0.9 1.4 2.3 
Payment & Merchandising Technologies— — — — — — 1.7 3.6 5.3 
Acquisition-Related Restructuring— — — — — — 1.7 3.6 5.3 
Payment & Merchandising Technologies— — — 0.3 — 0.3 — — — 
Other Restructuring— — — 0.3 — 0.3 — — — 
Total$(1.4)$(15.5)$(16.9)$28.6 $3.1 $31.7 $12.5 $5.0 $17.5 
(a)
Reflects changes in estimates for increases and decreases in costs related to our restructuring programs.
(b)
Primarily reflects non-cash charges related to the impairment of ROU assets and leasehold improvements associated with the exit of the three leased facilities in 2020.
(c)Reflects a pre-tax gain related to the sale of real estate in 2021
(d)
Reflects a pre-tax gain related to the sale of a facility in 2020.
The following table summarizes the cumulative restructuring costs incurred through December 31, 2021. We do not expect to incur additional facility consolidation costs to complete these actions as of December 31, 2021:
Cumulative Restructuring Costs
(in millions)SeveranceOtherTotal
Aerospace & Electronics$6.5 $— $6.5 
Process Flow Technologies3.7 — 3.7 
Payment & Merchandising Technologies15.8 1.8 17.6 
2020 Repositioning26.0 1.8 27.8 
Process Flow Technologies16.1 — 16.1 
2019 Repositioning16.1 — 16.1 
Aerospace & Electronics1.3 (1.4)(0.1)
Process Flow Technologies13.1 (12.7)0.4 
Payment & Merchandising Technologies11.5 0.7 12.2 
2017 Repositioning$25.9 $(13.4)$12.5 
Restructuring Liability
The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions)2020 Repositioning2019 Repositioning2017 RepositioningOther RestructuringTotal
Severance:
Balance at December 31, 2019$— $9.9 $12.5 $— $22.4 
Expense (a)
26.9 — — 0.3 27.2 
Adjustments (b)
— 6.1 (4.7)— 1.4 
Utilization(22.7)— (3.1)(0.3)(26.1)
Balance at December 31, 2020 (c)
$4.2 $16.0 $4.7 $— $24.9 
Expense (a)
— 0.1 — — 0.1 
Adjustments (b)
(0.9)— (0.5)— (1.4)
Utilization(3.3)(4.6)(3.5)— (11.4)
Balance at December 31, 2021 (c)
$— $11.5 $0.7 $— $12.2 
(a)Included within “Restructuring (gains) charges, net” in the Consolidated Statements of Operations
(b)
Included within “Restructuring (gains) charges, net” in the Consolidated Statements of Operations and reflects changes in estimates for increases and decreases in costs related to our restructuring programs
(c)
Included within Accrued Liabilities in the Consolidated Balance Sheets