Restructuring Charges

3 Months Ended

Dec. 31, 2023

Operating Model Redesign

In fiscal 2024, the Company continues 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 repositioning related charges of approximately $19 in fiscal 2024. The Company has incurred restructuring and related charges as follows:


	Three Months Ended December 31,
	2023		2022
Severance and related costs	$	3.9	$	0.9
Asset write-off and accelerated depreciation	0.1		—
Consulting, project implementation and management, and other exit costs	2.8		1.9
Total restructuring and related costs (1)	$	6.8	$	2.8

(1)Restructuring and related costs of nil and $0.1 are included within Selling, general and administrative expense (“SG&A”) for the three months ended December 31, 2023 and 2022, respectively.

The following table summarizes the restructuring activities and related accrual for the three months ended December 31, 2023:


					Utilized
	October 1, 2023		Charge to Income		Cash		December 31, 2023
Severance and related costs	$	3.9	$	4.0	$	(4.2)	$	3.7

Consulting, project implementation and management, and other exit costs	0.7		2.8		(3.5)		—
Total restructuring activities and related accrual	$	4.6	$	6.8	$	(7.7)	$	3.7