RESTRUCTURING COSTS

9 Months Ended

Sep. 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 September 30, 2024(1)		Three months ended September 30, 2023		Nine months ended September 30, 2024(1)		Nine months ended September 30, 2023
Americas	$	(6.1)	$	0.6	$	(5.8)	$	1.8
Asia Pacific	—		0.6		(2.1)		11.0
Europe, Middle East & Africa	12.8		0.3		13.5		3.9
Corporate	(0.4)		(0.2)		(1.5)		6.8
Total	$	6.3	$	1.3	$	4.1	$	23.5

(1) During the three and nine months ended September 30, 2024 restructuring reserves were adjusted due to new restructuring activities in Europe, Middle East & Africa and slightly offset by a change in restructuring plans previously recorded in Americas.

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. As of September 30, 2024, the non-current liability for estimated restructuring costs decreased by $6.5 due to a change in restructuring plans. The change in the current liability for the restructuring costs during the nine months ended September 30, 2024 were as follows:


	December 31, 2023		Expense		Paid/Utilized		September 30, 2024
Severance and benefits	$	25.1	$	(2.7)	$	(10.3)	$	12.1
Plant closing and other	0.1		13.2		(13.2)		0.1
Total	$	25.2	$	10.5	$	(23.5)	$	12.2

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


	December 31, 2022		Expense		Paid/Utilized		September 30, 2023
Severance and benefits	$	15.3	$	22.9	$	(11.9)	$	26.3
Plant closing and other	0.1		0.6		(0.6)		0.1
Total	$	15.4	$	23.5	$	(12.5)	$	26.4