Reorganization and Restructuring

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

2022 Global Restructuring Plan

In the first quarter of 2023, management completed the review and approval of remaining actions included in the previously announced restructuring plan across our global business operations. The actions were taken to enable growth, reduce costs and related infrastructure, and to mitigate the potential impact of external economic conditions. In total, we have recognized $33.2 million in charges under the program, including $11.0 million in 2023. We expect total expenses from the program to be between $38 million and $42 million, primarily severance costs.

The following table summarizes the changes in the accrued liability for costs incurred, payments and utilization, and foreign currency exchange effects of the 2022 Global Restructuring Plan:


(In millions)	Severance Costs		Other	Total

Balance as of January 1, 2022	$	—	—	—
Expense	18.8		3.4	22.2
Payments and utilization	(8.1)		(3.4)	(11.5)

Foreign currency exchange effects	0.8		—	0.8
Balance as of December 31, 2022	$	11.5	—	11.5
Expense	8.0		3.0	11.0
Payments and utilization	(16.9)		(3.0)	(19.9)
Foreign currency exchange effects	0.2		—	0.2
Balance as of December 31, 2023	$	2.8	—	2.8

Other Restructurings

Management periodically implements restructuring actions in targeted sections of our business. As a result of these actions, we recognized $43.6 million net costs in 2021, primarily severance costs. We recognized $16.6 million net costs in 2022, primarily severance costs. We recognized $6.6 million net costs in 2023. The majority of the costs in both 2023 and 2022 periods result from the exit of a line of business in a specific geography with most of the remaining costs due to management initiatives to address the COVID-19 pandemic.