Restructuring

12 Months Ended

Dec. 31, 2021

Restructuring And Related Activities [Abstract]

Restructuring

12. Restructuring

2020 Plan. In order to align our projected operational requirements with reduced short and mid-term commercial aerospace demand as a result of the COVID-19 pandemic, we initiated a restructuring plan during the quarter ended June 30, 2020, which consisted primarily of reduction in force measures (“2020 Plan”).

Employee costs related to the 2020 Plan were included within Restructuring (benefit) costs in our Statements of Consolidated (Loss) Income and consisted of severance, voluntary buyout packages, outplacement services, estimated medical costs and associated payroll costs. Substantially all of the costs associated with the restructuring efforts initiated under the 2020 Plan were incurred and expensed as of December 31, 2020. As of December 31, 2021, we completed the 2020 Plan and do not anticipate incurring restructuring charges in connection with this plan in future periods.

We have incurred total restructuring costs of $6.7 million under the 2020 Plan through December 31, 2021.

The following table summarizes activity relating to restructuring plan liabilities (in millions of dollars):

	Year Ended December 31,
	2021			2020
Beginning balance	$	1.4		$	—
Restructuring costs		—			12.4
Cash payments		(0.6	)		(6.1	)
Other adjustments1		(0.8	)		(4.9	)
Ending balance	$	—		$	1.4

¹ In December 2020, March 2021 and May 2021, we revised our production forecasts, thereby reducing the estimated number of headcount reductions necessary as compared with our initial restructuring plan. These reductions to accommodate the revised headcount requirements are included in Other adjustments with an offset to Restructuring (benefit) costs.