RESTRUCTURING INITIATIVES

9 Months Ended

Sep. 30, 2022

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 was the Beauty + Home segment; however, certain global general and administrative functions were also addressed. As of the end of 2021, we had successfully completed the vast majority of our planned initiatives related to our transformation plan and do not expect significant additional restructuring expenses related to this plan going forward. For the three and nine months ended September 30, 2022, we recognized $16 thousand and $0.7 million of restructuring costs related to this plan, respectively. For the three and nine months ended September 30, 2021, we recognized $10.2 million and $18.8 million of restructuring costs related to this plan, respectively. The cumulative expense incurred as of September 30, 2022 was $137.0 million.

As of September 30, 2022 we have recorded the following activity associated with the business transformation:


	Beginning Reserve at 12/31/2021		Net Charges for the Nine Months Ended 9/30/2022		Cash Paid		Interest and FX Impact		Ending Reserve at 9/30/2022
Employee severance	$	3,535	$	660	$	(2,747)	$	(152)	$	1,296
Professional fees and other costs	260		75		(314)		(10)		11
Totals	$	3,795	$	735	$	(3,061)	$	(162)	$	1,307

During the third quarter of 2022, we began an initiative to optimize our operations and SG&A expenses. For the three months ended September 30, 2022, we recognized $2.3 million of restructuring costs related to this plan.

As of September 30, 2022, we have recorded the following activity associated with our optimization plan:


	Beginning Reserve at 12/31/2021		Net Charges for the Nine Months Ended 9/30/2022		Cash Paid		Interest and FX Impact		Ending Reserve at 9/30/2022
Employee severance	$	—	$	2,052	$	—	$	(6)	$	2,046
Professional fees and other costs	—		202		(202)		—		—
Totals	$	—	$	2,254	$	(202)	$	(6)	$	2,046