RESTRUCTURING COSTS

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

(4) RESTRUCTURING COSTS

Restructuring costs include expenses associated with the Company’s efforts to continually improve operational efficiency and reposition its assets to remain competitive on a worldwide basis. Plant closing and other costs include lease and contract termination costs of moving fixed assets, employee training, relocation, and facility costs. These costs are recorded in "Restructuring costs" on the Unaudited Condensed Consolidated Statement of Earnings (Loss).

Restructuring expense by business segment were as follows:


	Three months ended June 30, 2024 (1)		Three months ended June 30, 2023		Six months ended June 30, 2024(1)		Six months ended June 30, 2023
Americas	$	0.2	$	0.3	$	0.3	$	1.2
Asia Pacific	(2.5)		6.0		(2.1)		10.4
Europe, Middle East & Africa	—		0.1		0.7		3.6
Corporate	(0.2)		2.7		(1.1)		7.0
Total	$	(2.5)	$	9.1	$	(2.2)	$	22.2

(1) During the three and six months ended June 30, 2024 restructuring reserves were adjusted to align with revised future restructuring obligations.

The current liability and non-current liability for estimated restructuring costs is recorded in "Accrued expenses and other liabilities” and "Other long-term liabilities", respectively, on the Unaudited Condensed Consolidated Balance Sheets. The change in the current liability for the restructuring costs during the six months ended June 30, 2024 were as follows:


	December 31, 2023		Expense		Paid/Utilized		June 30, 2024
Severance and benefits	$	25.1	$	(2.6)	$	(6.7)	$	15.8
Plant closing and other	0.1		0.4		(0.4)		0.1
Total	$	25.2	$	(2.2)	$	(7.1)	$	15.9

The change in the current liability for the restructuring costs during the six months ended June 30, 2023 were as follows:


	December 31, 2022		Expense		Paid/Utilized		June 30, 2023
Severance and benefits	$	15.3	$	21.8	$	(6.0)	$	31.1
Plant closing and other	0.1		0.4		(0.4)		0.1
Total	$	15.4	$	22.2	$	(6.4)	$	31.2