Restructuring Activities

6 Months Ended

Sep. 30, 2022

Restructuring Activities [Abstract]

Restructuring Activities

Note 6: Restructuring Activities

During the first six months of fiscal 2023, restructuring and repositioning expenses primarily consisted of severance expenses related to targeted headcount reductions in Europe within the Performance Technologies segment.  In addition, the Company incurred equipment transfer costs and closure costs related to a previously-leased facility in the Performance Technologies and Climate Solutions segments, respectively.

During the first six months of fiscal 2022, restructuring and repositioning expenses primarily consisted of equipment transfer costs within the Performance Technologies segment and severance-related expenses within the Performance Technologies and Climate Solutions segments.

Restructuring and repositioning expenses were as follows:

	Three months ended September 30,				Six months ended September 30,
	2022		2021		2022		2021
Employee severance and related benefits	$	-	$	0.2	$	1.4	$	0.3
Other restructuring and repositioning expenses		0.6		0.4		0.7		0.6
Total	$	0.6	$	0.6	$	2.1	$	0.9

Other restructuring and repositioning expenses primarily consist of equipment transfer and plant consolidation costs.

The Company accrues severance in accordance with its written plans, procedures, and relevant statutory requirements.  Changes in accrued severance were as follows:

	Three months ended September 30,
	2022			2021
Beginning balance	$	17.4		$	2.9
Additions		-			0.2
Payments		(3.4	)		(0.1	)
Effect of exchange rate changes		(1.1	)		(0.2	)
Ending balance	$	12.9		$	2.8

	Six months ended September 30,
	2022			2021
Beginning balance	$	20.2		$	4.0
Additions		1.4			0.3
Payments		(6.7	)		(1.4	)
Effect of exchange rate changes		(2.0	)		(0.1	)
Ending balance	$	12.9		$	2.8