RESTRUCTURING INITIATIVES

12 Months Ended

Dec. 31, 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 completed the vast majority of our planned initiatives related to our transformation plan and do not expect additional restructuring expenses related to this plan going forward. During 2022, 2021 and 2020, we recognized $0.4 million, $23.2 million and $26.5 million of restructuring costs related to this plan, respectively. During 2020, $2.5 million of the $26.5 million recognized was related to asset impairment. The cumulative expense incurred as of December 31, 2022 was $136.6 million.

As of December 31, 2022 we have recorded the following activity associated with the transformation plan:


	Beginning Reserve at 12/31/2021		Net Charges for the Year Ended 12/31/2022		Cash Paid		Interest and FX Impact		Ending Reserve at 12/31/2022
Employee severance	$	3,535	$	303	$	(3,131)	$	(153)	$	554
Professional fees and other costs	260		70		(313)		(11)		6
Totals	$	3,795	$	373	$	(3,444)	$	(164)	$	560

During the third quarter of 2022, we began an initiative to optimize our operations and SG&A expenses. For the year ended December 31, 2022, we recognized $6.2 million of restructuring costs related to this plan.

As of December 31, 2022, we have recorded the following activity associated with our optimization plan:


	Beginning Reserve at 12/31/2021		Net Charges for the Year Ended 12/31/2022		Cash Paid		Interest and FX Impact		Ending Reserve at 12/31/2022
Employee severance	$	—	$	5,454	$	(491)	$	30	$	4,993
Professional fees and other costs	—		770		(770)		—		—
Totals	$	—	$	6,224	$	(1,261)	$	30	$	4,993