Restructuring and Related Expenses

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

During the third quarter 2020, we initiated restructuring activities primarily within our commercial organization as part of an initiative intended to redefine our operating model. The actions are intended to reallocate resources necessary to align our organization with our diversifying portfolio of new products and strategic objectives, and will include investments in digital capabilities, technologies and solutions to support a more virtual and digital customer experience and tailored to the markets in which we operate.

The actions are expected to be substantially completed by the end of 2021, with the cumulative pretax costs to be incurred by the Company to implement the program estimated to be approximately $25.0. We expect that the pretax costs will primarily result in cash outlays, as the costs primarily relate to employee separation expenses.

In the first quarter 2019, we initiated corporate restructuring activities to re-align our international commercial organization through re-prioritization of certain geographical markets and to implement operational excellence through strategic reallocation of resources. Actions under the previous restructuring programs have been completed.

The following table summarizes the total expenses recorded related to the restructuring activities by type of activity and the locations recognized within the consolidated statements of operations:


	Three months ended September 30,				Three months ended September 30,
	2020				2019
	Employee Separation Costs		Other		Total		Employee Separation Costs		Other		Total
Restructuring expenses	$	14.3	$	—	$	14.3	$	(2.8)	$	3.1	$	0.3


	Nine months ended September 30,				Nine months ended September 30,
	2020				2019
	Employee Separation Costs		Other		Total		Employee Separation Costs		Other		Total
Restructuring expenses	$	14.0	$	(0.5)	$	13.5	$	8.7	$	3.2	$	11.9

The following table presents a reconciliation of the restructuring reserve recorded within accounts payable and accrued expenses on the Company's consolidated balance sheets as of September 30, 2020


	Three months ended September 30,						Nine months ended September 30,
	2020						2020
	Employee Separation Costs		Other		Total		Employee Separation Costs		Other		Total
Liability, beginning of period	$	1.6	$	—	$	1.6	$	3.3	$	3.5	$	6.8
Charges	14.3		—		14.3		14.3		—		14.3
Settlements	—		—		—		(1.4)		(3.0)		(4.4)
Adjustments to previous estimates	—		—		—		(0.3)		(0.5)		(0.8)
Liability, end of period	$	15.9	$	—	$	15.9	$	15.9	$	—	$	15.9

The restructuring reserve of $15.9 and $6.8 is recorded in accounts payable and accrued expenses on the Company's condensed consolidated balance sheet as of September 30, 2020 and December 31, 2019, respectively. The accrued amounts are expected to be paid in the next twelve months. We currently estimate incurring up to an additional $11.0 in restructuring expenses related to the third quarter 2020 action.