Restructuring

3 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

In the fourth fiscal quarter of 2019, the Company began implementing restructuring related integration plans for our manufacturing and distribution networks. These plans include the closure and combination of distribution and manufacturing facilities in order to reduce complexity and realize greater efficiencies in our manufacturing, packaging and distribution processes. All activities within this plan are expected to be completed by December 31, 2021. For this program we expect to incur additional severance and related benefit costs and other exit-related costs associated with these plans of up to approximately $27 through the end of calendar 2021.    

In the fourth fiscal quarter of 2020, the Company initiated a new restructuring program with a primary focus on reorganizing our global end-to-end supply chain network and ensuring accountability by category. This program includes streamlining the Company’s end-to-end supply chain model to enable rapid response to category specific demands and enhancing our ability to better serve our customers. Planning and execution of this program began in fiscal year 2021, with completion expected by the beginning of fiscal year 2022. The expected remaining costs associated with this project are approximately $4 to $7.

The pre-tax expense for charges related to the restructuring plans for the quarters ended December 31, 2020 and 2019 are noted in the table below and were reflected in the Consolidated (Condensed) Statement of Earnings and Comprehensive Income:

	For the Quarter Ended December 31, 2020		For the Quarter Ended December 31, 2019
2019 Restructuring Program
Costs of products sold
Severance and related benefit costs	$	0.1	$	0.9
Accelerated depreciation & asset write-offs	1.4		3.4
Other exit costs(1)	5.1		2.0
2019 Restructuring Total	$	6.6	$	6.3
2020 Restructuring Program
Costs of products sold
Other restructuring related costs(2)	$	0.8	$	—
Selling, general and administrate expense
Severance and related benefit costs	0.3		—
Other restructuring related costs(2)	2.9		—
2020 Restructuring Total	$	4.0	$	—
Total restructuring related expense	$	10.6	$	6.3

(1) Includes charges primarily related to consulting, relocation, environmental investigatory and mitigation costs, and other facility exit costs.

(2) Primarily includes consulting fees for the restructuring program.

The restructuring costs noted above for the quarter ended December 31, 2020, were incurred within the Americas and International segments in the amount of $9.2 and $1.4, respectively. The restructuring costs for the quarter ended December 31, 2019 were incurred within the Americas and International segments in the amount of $5.9 and $0.4, respectively.

The following table summarizes the activity related to the 2019 restructuring program for the quarter ended December 31, 2020:

					Utilized
	September 30, 2020		Charge to Income		Cash		Non-Cash		December 31, 2020 (1)
Severance & termination related costs	$	5.3	$	0.1	$	3.4	$	—	$	2.0
Accelerated depreciation & asset write-offs	—		1.4		—		1.4		—
Other exit costs	2.9		5.1		5.3		—		2.7
Total	$	8.2	$	6.6	$	8.7	$	1.4	$	4.7

(1) At December 31, 2020, the restructuring reserve is recorded on the Consolidated (Condensed) Balance Sheet in Other current liabilities of $4.7.

The following table summarizes the activity related to the 2020 restructuring program for the quarter ended December 31, 2020:

					Utilized
	September 30, 2020		Charge to Income		Cash		Non-Cash		December 31, 2020 (1)
Severance & termination related costs	$	0.4	$	0.3	$	—	$	—	$	0.7
Other restructuring related costs	0.8		3.7		3.3		—		$	1.2
Total	$	1.2	$	4.0	$	3.3	$	—	$	1.9

(1) At December 31, 2020, the restructuring reserve is recorded on the Consolidated (Condensed) Balance Sheet in Other current liabilities of $1.9.

The following table summarizes the activity related to the 2019 restructuring program for the quarter ended December 31, 2019:

					Utilized
	September 30, 2019		Charge to Income		Cash		Non-Cash		December 31, 2019
Severance & termination related costs	$	9.8	$	0.9	$	—	$	—	$	10.7
Accelerated depreciation & asset write-offs	—		3.4		—		3.4		—
Other exit costs	—		2.0		1.3		—		0.7
Total	$	9.8	$	6.3	$	1.3	$	3.4	$	11.4