RESTRUCTURING INITIATIVES

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

In late 2017, we began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness. The primary focus of the plan is the Beauty + Home segment; however, certain global general and administrative functions have also been addressed. During 2020, we recognized $26.5 million of restructuring costs related to this plan, of which $2.5 million was related to asset impairment. During 2019 and 2018, we recognized approximately $20.5 million and $63.8 million of restructuring costs related to this plan, respectively. Using current exchange rates, we expect total implementation costs of approximately $125 million for these initiatives, including costs that have been recognized to date. The cumulative expense incurred as of December 31, 2020 was $113.0 million. We have also made total capital investments of approximately $50 million related to this plan, with no further significant capital investments expected.

As of December 31, 2020 we have recorded the following activity associated with the transformation plan:


	Beginning Reserve at 12/31/2019		Net Charges for the Year Ended 12/31/2020		Cash Paid		Interest and FX Impact		Ending Reserve at 12/31/2020
Employee severance	$	7,090	$	16,162	$	(14,731)	$	(565)	$	7,956
Professional fees and other costs	3,609		7,854		(9,502)		572		2,533
Totals	$	10,699	$	24,016	$	(24,233)	$	7	$	10,489