Restructuring and Severance

6 Months Ended

May 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Restructuring and Severance

The following table is a summary of restructuring and severance charges for the three and six months ended May 31, 2019 and 2018:

	Three Months Ended May 31,				Six Months Ended May 31,
	2019		2018		2019		2018
	(Dollars in millions)
Severance Expense:
Specialty Solutions	$	—	$	—	$	—	$	.7
Performance Materials	1.2		.1		1.9		.1
Corporate	.2		.1		.2		.7
Total Severance Costs	1.4		.2		2.1		1.5
Facility Closure Costs:
Performance Materials	1.4		—		1.8		—
Total Restructuring and Severance Costs	$	2.8	$	.2	$	3.9	$	1.5

Costs for restructuring plans are recognized as a component of restructuring and severance expense within the consolidated statements of operations. The Company initiated the following restructuring plans:

2018 Restructuring Plan

During the third quarter of fiscal 2018, the Company announced its plan to close its styrene butadiene manufacturing facility in Green Bay, Wisconsin, moving production to its Mogadore, Ohio facility. The Company recorded $3.7 million of restructuring and severance expenses in fiscal 2019 related to this plan, which is expected to be fully paid during the third quarter of 2019. Total expense incurred to date for this plan is $5.5 million, of which $2.8 million has been paid as of May 31, 2019. The Company sold the Green Bay, Wisconsin facility in May 2019 for $4.9 million, recognizing a gain of $4.4 million within the consolidated statement of operations. This gain is included in the Performance Materials segment operating results. This plan is substantially complete.

2017 Restructuring Plan

The Company incurred $0.2 million of restructuring and severance expenses in the first six months of 2019 related to the One OMNOVA initiative announced during the first quarter of 2017. This initiative was focused on improving functional excellence in marketing, sales, operations, supply chain and technology, as well as various corporate functions. The plan was

designed to reduce complexity and drive consistency across the global enterprise through a standardized, integrated business system. Total expense incurred for this initiative was $5.4 million, all of which has been paid as of May 31, 2019. This plan is substantially complete.

The following table summarizes the Company's liabilities related to restructuring and severance activities:

	November 30, 2018		2019				May 31, 2019
			Provision		Payments
	(Dollars in millions)
Total	$	1.1	$	3.9	$	2.3	$	2.7

The Company may incur future costs related to its restructuring activities, as processes are continually evaluated to enhance the efficiency and cost effectiveness of its operations, and to ensure competitiveness across its businesses and across geographic areas. Future costs could include costs related to closed facilities and restructuring plan implementation costs and these will be recognized as incurred.