Restructuring Charges

9 Months Ended

Jun. 30, 2023

Operating Model Redesign

In fiscal 2023, the Company is continuing to take actions to strengthen its operating model, simplify the organization and improve manufacturing and supply chain efficiency and productivity. As a result of these actions, the Company expects to incur restructuring and related charges of approximately $18 in fiscal 2023. To date the Company has incurred restructuring and related charges as follows:


	Three Months Ended June 30, 2023		Three Months Ended June 30, 2022		Nine Months Ended June 30, 2023		Nine Months Ended June 30, 2022
Severance and related benefit costs	$	1.3	$	1.0	$	4.1	$	4.0
Asset write-off and accelerated depreciation	0.1		0.3		0.3		0.4
Consulting, project implementation and management, and other exit costs	1.7		2.6		4.7		5.4
Total restructuring and related costs (1)(2)	$	3.1	$	3.9	$	9.1	$	9.8

(1)Restructuring and related costs of nil and $0.2 are included within Cost of products sold for the three and nine months ended June 30, 2023, respectively.

(2)Restructuring and related costs of $0.1 and $0.2 are included within Selling, general and administrative expense (“SG&A”) for the three and nine months ended June 30, 2023, respectively, and $0.4 and $0.6 for the three and nine months ended June 30, 2022, respectively.

The following table summarizes the restructuring activities and related accrual for the nine months ended June 30, 2023:


					Utilized
	October 1, 2022		Charge to Income		Cash		June 30, 2023
Severance and related benefit costs	$	1.7	$	4.1	$	(4.7)	$	1.1
Asset write-off and accelerated depreciation	—		0.3		(0.3)		—
Consulting, project implementation and management, and other exit costs	0.8		4.7		(5.4)		0.1
Total restructuring activities and related accrual	$	2.5	$	9.1	$	(10.4)	$	1.2