Exit or Disposal Cost Obligations

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Exit or Disposal Cost Obligations Disclosure

EXIT OR DISPOSAL COST OBLIGATIONS

On August 17, 2020, we determined to close our aftermarket collision parts (“ACP”) business by the end of 2020. In connection with the closing of the ACP business, we expect to incur total charges of $43.7 million, including $36.5 million incurred during the three months ended September 30, 2020, as follows:

Cost Associated with Exit Activity	Total Costs Expected to be Incurred		Costs Incurred Three Months Ended September 30, 2020		Statement of Operations Line Item
Inventory valuation adjustment	$	20.6	$	20.6	Parts and service cost of sales
Contract termination charges	7.3		7.3		Other (income) expense, net (operating)
Other associated closing costs	4.5		—		Selling, general, and administrative expenses
Accelerated depreciation	3.9		2.9		Depreciation and amortization
Accelerated amortization	3.2		2.1		Selling, general, and administrative expenses
Asset impairment charges	3.0		2.8		Other (income) expense, net (operating)
Involuntary termination benefits	1.2		0.8		Selling, general, and administrative expenses
	$	43.7	$	36.5

Charges incurred are reflected as part of the “Corporate and other” category of our segment information.