Business Separation, Restructuring, and Cost Reduction Actions

9 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Business Separation, Restructuring, and Cost Reduction Actions

BUSINESS SEPARATION, RESTRUCTURING AND COST REDUCTION ACTIONS

The charges we record for business restructuring and cost reduction actions have been excluded from segment operating income.

During the three and nine months ended June 30, 2019, we recognized a net charge of $141.4 million and $156.3 million, respectively. The net charge primarily consisted of the termination fee of $140.0 million paid to Entegris, Inc. (“Entegris”).

During the three and nine months ended June 30, 2018, we recognized a net charge of $6.7 million and $16.7 million, respectively. The net charge primarily consisted of additional costs as a result of the relocation of certain research and development activities and our headquarters and set up of the stand-alone organization and infrastructure.

The following table summarizes the carrying amount of the accrual for the business separation, restructuring and cost reduction actions at June 30, 2019:

	Severance and Other Benefits
(In millions)
Balance, September 30, 2018	$	3.2
Current Period Charge	0.1
Cash Payments	(1.1		)
Balance, June 30, 2019	$	2.2