XML 55 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Reorganization and Restructuring
 12 Months Ended
Dec. 31, 2018
Restructuring and Related Activities [Abstract]  
Reorganization and Restructuring
Reorganization and Restructuring

2016 Reorganization and Restructuring
In the fourth quarter of 2016, management implemented restructuring actions across our global business operations and our corporate functions. As a result of these actions, we recognized $18.1 million in related 2016 costs and an additional $17.3 million in 2017 under this restructuring related to severance, asset-related adjustments, a benefit program termination and lease terminations. We recognized an additional $13.0 million in 2018 under this restructuring for severance costs and asset-related adjustments. The actions under this program were substantially completed in 2018, with cumulative pretax charges of approximately $48 million. Severance actions reduced our global workforce by approximately 800 positions.

The following table summarizes the costs incurred, payments and utilization, and foreign currency exchange effects of the 2016 reorganization and restructuring:
(In millions)
Asset Related Adjustments
 
Severance Costs
 
Lease Terminations
 
Benefit Program Termination
 
Total
 
 
 
 
 
 
 
 
 

Balance as of January 1, 2016
$
—

 
—

 
—

 
—

 
—

Expense (benefit)
16.3

 
7.2

 
0.7

 
(6.1
)
 
18.1

Payments and utilization
(16.3
)
 
(0.2
)
 
(0.1
)
 
6.1

 
(10.5
)
Balance as of December 31, 2016
$
—

 
7.0

 
0.6

 
—

 
7.6

Expense (benefit)
4.1

 
10.4

 
0.6

 
2.2

 
17.3

Payments and utilization
(4.1
)
 
(16.0
)
 
(0.8
)
 
(2.2
)
 
(23.1
)
Foreign currency exchange effects
—

 
0.2

 
—

 
—

 
0.2

Balance as of December 31, 2017
$
—

 
1.6

 
0.4

 
—

 
2.0

Expense (benefit)
1.7

 
11.3

 
—

 
—

 
13.0

Payments and utilization
(1.7
)
 
(12.4
)
 
(0.2
)
 
—

 
(14.3
)
Foreign currency exchange effects
—

 
—

 
—

 
—

 
—

Balance as of December 31, 2018
$
—

 
0.5

 
0.2

 
—

 
0.7



Executive Leadership and Board of Directors Restructuring
In January 2016, we announced Executive Leadership and Board of Directors restructuring actions and we recognized $4.3 million in charges in 2016 related to these actions.
 
2015 Reorganization and Restructuring
Brink's initiated a global restructuring of its business in the third quarter of 2015. We recognized $6.5 million in 2016 related to this restructuring for severance costs, contract terminations and lease terminations. The 2015 reorganization and restructuring reduced the global workforce by approximately 1,100 positions and resulted in approximately $20 million in 2016 savings. The actions under this program were substantially completed by the end of 2016, with cumulative pretax charges of approximately $18 million.
Other Restructurings
Management periodically implements restructuring actions in targeted sections of our business. As a result of these actions, we recognized costs of $4.6 million in 2017 and $7.6 million in 2018, primarily severance costs. For the current restructuring actions, we expect to incur additional costs between $5 million and $7 million in future periods.