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RESTRUCTURING AND SEPARATION ACTIVITIES
3 Months Ended
May 03, 2020
RESTRUCTURING AND SEPARATION ACTIVITIES  
RESTRUCTURING AND SEPARATION ACTIVITIES

NOTE 9 — RESTRUCTURING AND SEPARATION ACTIVITIES

On September 24, 2019, the Company announced its intention to separate its Facilities Maintenance and Construction & Industrial businesses into two independent publicly traded companies with the separation expected to be completed by the middle of fiscal 2020. On March 30, 2020, the Company announced that due to materially changing market conditions caused by the COVID-19 pandemic, the previously announced timeline for the separation of its two businesses had been impacted. The Company remains committed to the separation of the two businesses and the strategic rationale is unchanged. The Company is continuing its preparations for separation when the markets sufficiently recover. During the three months ended May 3, 2020, the Company recognized $6 million in restructuring and separation charges.  These charges were primarily related to professional fees incurred to execute the separation, and to a lesser extent, severance and other employee-related costs. As of May 3, 2020, remaining unpaid costs associated with these activities are immaterial.