Restructuring

6 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND OTHER CHARGES

Restructuring

The following table summarizes the impact of the Company’s restructuring charges on the consolidated statements of operations:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Cost of sales – services	$	10.1	$	1.6	$	10.1	$	2.5
Cost of sales – products	1.1		—		1.6		—
Selling and administrative expense	6.5		8.9		11.7		16.5
Research, development and engineering expense	(0.6)		1.0		(0.3)		2.5
Total	$	17.1	$	11.5	$	23.1	$	21.5

The following table summarizes the Company’s restructuring charges by reporting segment:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2020		2021		2020
Severance
Eurasia Banking	$	8.8	$	5.8	$	8.8	$	8.1
Americas Banking	0.3		0.7		0.3		1.1
Retail	1.2		3.4		1.2		8.8
Corporate	—		1.6		—		3.5
Total severance	$	10.3	$	11.5	$	10.3	$	21.5
Other
Eurasia Banking	$	0.1	$	—	$	0.6	—
Retail	1.6		—		1.6		—
Corporate	5.1		—		10.6		—
Total Other	6.8		—		12.8		—
Total	$	17.1	$	11.5	$	23.1	$	21.5

DN Now

During the second quarter of 2018, the Company began implementing DN Now to deliver greater, more sustainable profitability, and the gross savings target remains approximately $500 through 2021. The Company is approaching completion of 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 DN Now restructuring charges of $17.1 and $23.1 for the three and six months ended June 30, 2021, respectively, compared to $11.5 and $21.5 for the three and six months ended June 30, 2020, respectively. The charges incurred during the six months ended June 30, 2021 relate primarily to redundant personnel costs during the transition period.

The following table summarizes the Company's cumulative total restructuring costs for DN Now as of June 30, 2021:

	DN Now
	Severance		Other
Eurasia Banking	$	87.7	$	2.6
Americas Banking	13.2		0.1
Retail	39.9		3.8
Corporate	54.3		12.2
Total	$	195.1	$	18.7

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

	2021		2020
Beginning balance as of January 1	$	62.9	$	42.6
Severance charges	10.3		21.5
Payouts/Settlements	(18.5)		(32.5)
Other	(2.8)		—
Ending balance as of June 30	$	51.9	$	31.6