In December 2023, our management approved a new global restructuring program (the “2023 Restructuring Plan”) intended to optimize our cost structure and drive greater efficiencies throughout the company. The 2023 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $120 million. The pre-tax restructuring charges consist of employee termination benefits; contract terminations for sales agents; and other charges, such as consulting fees. The expenses incurred under our 2023 Restructuring Plan are reported in our “Restructuring and other cost reduction initiatives” financial statement line item. The charges incurred in the six-month period ended June 30, 2024 were primarily the result of finalizing, obtaining approval and, where applicable, communicating certain restructuring plans. The following table summarizes the liabilities recognized related to the 2023 Restructuring Plan (in millions):


	Employee
	Termination			Contract
	Benefits			Terminations			Other			Total
Expenses incurred in the three months ended June 30, 2024	$	10.1		$	1.2		$	3.2		$	14.5

Balance, December 31, 2023	$	9.2		$	-		$	5.0		$	14.2
Expenses incurred in the six months ended June 30, 2024		81.1			3.0			9.9			94.0
Cash payments		(46.1	)		(0.5	)		(10.2	)		(56.8	)
Foreign currency exchange rate changes		(1.0	)		-			(0.1	)		(1.1	)
Non-cash activity		-			-			1.5			1.5
Balance, June 30, 2024	$	43.2		$	2.5		$	6.1		$	51.8

Expense incurred since the start of the 2023 Restructuring Plan	$	90.3		$	3.0		$	13.6		$	106.9

Expense estimated to be recognized for the 2023 Restructuring Plan	$	92.0		$	10.0		$	18.0		$	120.0

In December 2021, our management approved a global restructuring program (the “2021 Restructuring Plan”) intended to further reduce costs and to reorganize our global operations in preparation for the spinoff of ZimVie. The 2021 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $180 million. The pre-tax restructuring charges consist of employee termination benefits; contract terminations for sales agents; and other charges, such as consulting fees and project management expenses. The expenses incurred under our 2021 Restructuring Plan are reported in our “Restructuring and other cost reduction initiatives” financial statement line item. 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, 2024	$	(0.7	)	$	0.1		$	0.9		$	0.3

Balance, December 31, 2023	$	4.2		$	17.6		$	2.9		$	24.7
Expenses incurred in the six months ended June 30, 2024		(1.1	)		0.1			2.2			1.2
Cash payments		(1.1	)		(7.5	)		(2.5	)		(11.1	)
Foreign currency exchange rate changes		(0.1	)		(0.4	)		-			(0.5	)
Balance, June 30, 2024	$	1.9		$	9.8		$	2.6		$	14.3

Expense incurred since the start of the 2021 Restructuring Plan	$	58.0		$	73.9		$	38.4		$	170.3

Expense estimated to be recognized for the 2021 Restructuring Plan	$	60.0		$	80.0		$	40.0		$	180.0

In December 2019, our Board of Directors approved, and we initiated, a global restructuring program (the “2019 Restructuring Plan”) with an objective of reducing structural costs to allow us to further invest in higher priority growth opportunities. The 2019 Restructuring Plan is expected to result in total pre-tax restructuring charges of approximately $370 million. The pre-tax restructuring charges consist of employee termination benefits; contract terminations for facilities and sales agents; and other charges, such as consulting fees, project management expenses and relocation costs, including costs to close a manufacturing facility.

The following table summarizes the location on our condensed consolidated statement of earnings and type of cost for our 2019 Restructuring Plan (in millions):


	Three Months Ended June 30, 2024
	Employee
	Termination		Contract
	Benefits		Terminations		Other		Total
Cost of products sold, excluding intangible asset amortization	$	-	$	-	$	0.3	$	0.3
Restructuring and other cost reduction initiatives		1.5		-		2.9		4.4
	$	1.5	$	-	$	3.2	$	4.7

	Six Months Ended June 30, 2024
	Employee
	Termination		Contract
	Benefits		Terminations		Other		Total
Cost of products sold, excluding intangible asset amortization	$	-	$	-	$	0.8	$	0.8
Restructuring and other cost reduction initiatives		16.2		-		4.7		20.9
	$	16.2	$	-	$	5.5	$	21.7

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


	Employee
	Termination			Contract
	Benefits			Terminations			Other			Total
Balance, December 31, 2023	$	43.8		$	5.6		$	2.9		$	52.3
Expenses incurred in the six months ended June 30, 2024		16.2			-			5.5			21.7
Cash payments		(13.2	)		(1.0	)		(6.3	)		(20.5	)
Foreign currency exchange rate changes		(0.4	)		-			-			(0.4	)
Balance, June 30, 2024	$	46.4		$	4.6		$	2.1		$	53.1

Expense incurred since the start of the 2019 Restructuring Plan	$	141.9		$	35.0		$	164.2		$	341.1

Expense estimated to be recognized for the 2019 Restructuring Plan	$	155.0		$	35.0		$	180.0		$	370.0

We do not include restructuring charges in the operating profit of our reportable segments. We report the expenses for other cost reduction and optimization initiatives in our “Restructuring and other cost reduction initiatives” financial statement line item because these activities also have the goal of reducing costs across the organization. However, since the cost reduction initiative expenses are not considered restructuring, they have been excluded from the amounts presented in this note.