Exit or Disposal Cost Obligations

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

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 incurred total charges of $36.7 million in 2020 as follows:

Cost Associated with Exit Activity

Total Costs Incurred

Statement of Operations Line Item

Inventory valuation adjustment

17.6

Parts and service cost of sales

Contract termination charges

3.2

Other (income) expense, net (operating)

Other associated closing costs

2.6

Selling, general, and administrative expenses

Accelerated depreciation

3.9

Depreciation and amortization

Accelerated amortization

3.2

Selling, general, and administrative expenses

Asset impairment charges

5.1

Other (income) expense, net (operating)

Involuntary termination benefits

1.1

Selling, general, and administrative expenses

36.7

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

The following is a rollforward of our liability balances for exit or disposal cost obligations associated with the closing of the ACP business, which are included in Other Current Liabilities in the Consolidated Balance Sheets:


	Contract Termination Charges		Other Associated Closing Costs		Involuntary Termination Benefits		Total
Balance at December 31, 2020	$	0.2	$	2.4	$	0.8	$	3.4
Costs incurred	—		—		—		—
Costs paid or otherwise settled	(0.2)		(2.4)		(0.8)		(3.4)
Balance at December 31, 2021	$	—	$	—	$	—	$	—