Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING

The following table summarizes the impact of the Company’s restructuring charges on the consolidated statements of operations for the years ended December 31:


	2020		2019		2018
Cost of sales - services	$	14.1	$	8.0	$	17.8
Cost of sales - products	8.2		1.7		10.8
Selling and administrative expense	52.9		37.4		33.4
Research, development and engineering expense	6.4		3.0		3.0
Loss on sale of real estate	—		0.1		—
Total	$	81.6	$	50.2	$	65.0

The following table summarizes the Company’s restructuring charges by reporting segment for the years ended December 31:


	2020		2019		2018
Severance
Eurasia Banking	$	32.1	$	13.5	$	37.1
Americas Banking	2.5		1.8		8.9
Retail	16.5		9.7		13.3
Corporate	24.7		25.1		5.7
Total severance	75.8		50.1		65.0

Other
Eurasia Banking	2.0		—		—
Americas Banking	—		0.1		—
Retail	2.2		—		—
Corporate	1.6		—		—
Total other	5.8		0.1		—
Total	$	81.6	$	50.2	$	65.0

DN Now

During the second quarter of 2018, the Company began implementing DN Now to deliver greater, more sustainable profitability. The gross annualized savings target for DN Now is approximately $500 through 2021. In order to achieve these savings, the Company will complete its program to restructure the workforce, integrate and optimize systems and processes, transition workloads to lower cost locations and consolidate real estate holdings. Material incremental restructuring charges related to DN NOW are not expected. The Company incurred restructuring charges of $81.6, $50.2 and $58.9 for the years ended December 31, 2020, 2019 and 2018, respectively, related to DN Now.

Completed Plans

DN2020 Plan. As of August 15, 2016, the date of the Acquisition, the Company launched a multi-year integration and transformation program, known as DN2020. The Company incurred restructuring charges, primarily related to severance, of $6.1 for the year ended December 31, 2018, related to this plan.

The following table summarizes the Company's cumulative total restructuring costs as of December 31, 2020 for the respective plans:


	DN Now				DN2020 Plan
	Severance		Other		Severance
Eurasia Banking	$	78.9	$	2.0	$	51.5
Americas Banking	12.9		0.1		13.6
Retail	38.7		2.2		15.6
Corporate	54.3		1.6		15.1
Total	$	184.8	$	5.9	$	95.8

The following table summarizes the Company’s restructuring accrual balances and related activity:


Balance at January 1, 2018	$	54.0
Liabilities incurred	65.0
Liabilities paid/settled	(62.1)
Balance at December 31, 2018	$	56.9
Liabilities incurred	50.2
Liabilities paid/settled	(64.5)
Balance at December 31, 2019	$	42.6
Liabilities incurred	81.6
Liabilities paid/settled	(61.3)
Balance at December 31, 2020	$	62.9