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Restructuring (Tables)
6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Summary of Liabilities Recognized Related to Restructuring Plan The following table summarizes the liabilities recognized related to the 2021 Restructuring Plan (in millions):

 

 

 

Employee

 

 

 

 

 

 

 

 

 

 

 

 

Termination

 

 

Contract

 

 

 

 

 

 

 

 

 

Benefits

 

 

Terminations

 

 

Other

 

 

Total

 

Expenses incurred in the three months ended June 30, 2023

 

$

1.5

 

 

$

1.9

 

 

$

2.6

 

 

$

6.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2022

 

$

10.5

 

 

$

25.0

 

 

$

3.1

 

 

$

38.6

 

Expenses incurred in the six months ended June 30, 2023

 

 

3.9

 

 

 

16.2

 

 

 

4.1

 

 

 

24.2

 

Cash payments

 

 

(6.6

)

 

 

(17.7

)

 

 

(3.1

)

 

 

(27.4

)

Foreign currency exchange rate changes

 

 

0.2

 

 

 

0.6

 

 

 

-

 

 

 

0.8

 

Balance, June 30, 2023

 

$

8.0

 

 

$

24.1

 

 

$

4.1

 

 

$

36.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Expense incurred since the start of the 2021 Restructuring Plan

 

$

57.0

 

 

$

68.0

 

 

$

31.0

 

 

$

156.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Expense estimated to be recognized for the 2021 Restructuring Plan

 

$

70.0

 

 

$

80.0

 

 

$

35.0

 

 

$

185.0

 

The following table summarizes the liabilities recognized related to the 2019 Restructuring Plan (in millions):

 

 

 

Employee

 

 

 

 

 

 

 

 

 

 

 

 

Termination

 

 

Contract

 

 

 

 

 

 

 

 

 

Benefits

 

 

Terminations

 

 

Other

 

 

Total

 

Expenses incurred in the three months ended June 30, 2023

 

$

(1.1

)

 

$

-

 

 

$

9.4

 

 

$

8.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, December 31, 2022

 

$

28.9

 

 

$

9.0

 

 

$

6.4

 

 

$

44.3

 

Expenses incurred in the six months ended June 30, 2023

 

 

(1.1

)

 

 

-

 

 

 

15.5

 

 

 

14.4

 

Cash payments

 

 

(2.5

)

 

 

(1.9

)

 

 

(17.4

)

 

 

(21.8

)

Foreign currency exchange rate changes

 

 

0.9

 

 

 

-

 

 

 

0.1

 

 

 

1.0

 

Balance, June 30, 2023

 

$

26.2

 

 

$

7.1

 

 

$

4.6

 

 

$

37.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Expense incurred since the start of the 2019 Restructuring Plan

 

$

107.2

 

 

$

35.0

 

 

$

150.1

 

 

$

292.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Expense estimated to be recognized for the 2019 Restructuring Plan

 

$

135.0

 

 

$

35.0

 

 

$

180.0

 

 

$

350.0