Restructuring Activities

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring costs of $4.2 and $11.2 for the three and nine months ended September 30, 2023 were primarily related to cost reduction actions relative to Howden integration. Such cost reduction actions are ongoing. Restructuring costs of $1.4 and $1.1 for the three and nine months ended September 30, 2022 were primarily related to moving and employee severance costs relative to restructuring at our Beasley, Texas, Houston, Texas and Tulsa, Oklahoma facilities.

We are closely monitoring our end markets and order rates, as well as continuing Howden integration activities, 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,
	2023		2022		2023		2022
Severance:
Cost of sales	$	—	$	(0.2)	$	—	$	—
Selling, general, and administrative expenses	3.9		0.1		10.8		—
Total severance costs	3.9		(0.1)		10.8		—
Other restructuring:
Cost of sales	0.2		(1.2)		0.2		(1.1)
Selling, general, and administrative expenses	0.1		(0.1)		0.2		—
Total other restructuring costs	0.3		(1.3)		0.4		(1.1)

Total restructuring costs	$	4.2	$	(1.4)	$	11.2	$	(1.1)

The following table summarizes restructuring costs by reportable segment:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cryo Tank Solutions	$	0.1	$	—	$	1.2	$	0.1
Heat Transfer Systems	0.5		—		0.7		0.1
Specialty Products	0.4		(0.1)		0.9		—
Repair, Service & Leasing	0.9		(1.3)		2.4		(1.3)
Corporate	2.3		—		6.0		—
Total restructuring costs	$	4.2	$	(1.4)	$	11.2	$	(1.1)

The following tables summarize our restructuring activities:



	Consolidated
Balance at June 30, 2023	$	3.8
Restructuring charges	4.2
Cash payments and other	(5.6)
Balance at September 30, 2023	$	2.4



Balance at June 30, 2022	$	1.4
Restructuring charges	(1.4)
Cash payments and other	0.3
Balance at September 30, 2022	$	0.3



Balance at December 31, 2022	$	0.2
Restructuring charges	11.2
Cash payments and other	(9.0)
Balance at September 30, 2023	$	2.4



Balance at December 31, 2021	$	2.3
Restructuring charges	(1.1)
Cash payments and other	(0.9)
Balance at September 30, 2022	$	0.3