Restructuring Activities

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

Restructuring credits of $1.4 and $1.1 for the three and nine months ended September 30, 2022 were primarily related to reversal of prior restructuring accruals for employee retention at our Houston, Texas facility, and offset restructuring related costs in the segment in 2022. Restructuring costs of $1.9 and $2.9 for the three and nine months ended September 30, 2021, respectively, were primarily related to moving and employee severance costs relative to restructuring at our Beasley, Texas, Houston, Texas and Tulsa, Oklahoma facilities. This project was a cost reduction measure within our Heat Transfer Systems segment to continue to structure the business for profitable growth and capacity efficiency.

We are closely monitoring our end markets and order rates and will continue to take appropriate and timely actions as necessary.

The following table summarizes severance and other restructuring costs, which includes employee-related costs, facility rent and exit costs, relocation, recruiting, travel and other:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Severance:
Cost of sales	$	(0.2)	$	0.4	$	—	$	0.4
Selling, general, and administrative expenses	0.1		—		—		0.3
Total severance costs	(0.1)		0.4		—		0.7
Other restructuring:
Cost of sales	(1.2)		1.5		(1.1)		2.2
Selling, general, and administrative expenses	(0.1)		—		—		—
Total other restructuring costs	(1.3)		1.5		(1.1)		2.2
Total restructuring costs	$	(1.4)	$	1.9	$	(1.1)	$	2.9

The following tables summarize our restructuring activities:

	Three Months Ended September 30, 2022
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Corporate		Consolidated
Balance at June 30, 2022	$	—	$	—	$	—	$	1.4	$	—	$	1.4
Restructuring charges	—		—		(0.1)		(1.3)		—		(1.4)
Cash payments and other	—		—		0.3		—		—		0.3
Balance at September 30, 2022	$	—	$	—	$	0.2	$	0.1	$	—	$	0.3

	Three Months Ended September 30, 2021
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Corporate		Consolidated
Balance at June 30, 2021	$	0.3	$	(0.1)	$	—	$	—	$	—	$	0.2
Restructuring charges	—		0.5		—		1.4		—		1.9
Cash payments and other	—		(0.3)		—		0.1		—		(0.2)
Balance at September 30, 2021	$	0.3	$	0.1	$	—	$	1.5	$	—	$	1.9

	Nine Months Ended September 30, 2022
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Corporate		Consolidated
Balance at December 31, 2021	$	0.4	$	0.5	$	—	$	1.4	$	—	$	2.3
Restructuring charges	0.1		0.1		—		(1.3)		—		(1.1)
Cash payments and other	(0.5)		(0.6)		0.2		—		—		(0.9)
Balance at September 30, 2022	$	—	$	—	$	0.2	$	0.1	$	—	$	0.3

	Nine Months Ended September 30, 2021
	Cryo Tank Solutions		Heat Transfer Systems		Specialty Products		Repair, Service & Leasing		Corporate		Consolidated
Balance at December 31, 2020	$	0.5	$	0.2	$	—	$	—	$	0.1	$	0.8
Restructuring charges	0.3		1.2		—		1.4		—		2.9
Cash payments and other	(0.5)		(1.3)		—		0.1		(0.1)		(1.8)
Balance at September 30, 2021	$	0.3	$	0.1	$	—	$	1.5	$	—	$	1.9