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Restructuring
 12 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
Restructuring Program 2018 to 2019
In the third quarter of 2018, the Company announced a restructuring program that primarily involved workforce reductions and facility consolidation. This restructuring program was completed as of December 31, 2020.
Restructuring Program 2020 to 2022
Subsequent to the acquisition of Ingersoll Rand Industrial, the Company announced a restructuring program (“2020 Plan”) to create efficiencies and synergies, reduce the number of facilities and optimize operating margin within the merged Company. The Company expects to incur total expenses of approximately $350.0 million related to workforce reductions, lease termination costs, other facility rationalization costs and other business related transformation costs from 2020 until 2022. The Company expects to realize approximately $300.0 million in annualized cost synergies by the end of 2022. The Company continues to evaluate operating efficiencies and anticipates incurring additional costs in the coming years in connection with these activities, but is unable to estimate those amounts at this time as such plans are not yet finalized.
For the year ended December 31, 2020, $92.9 million was charged to expense through “Other operating expense, net” in the Consolidated Statements of Operations ($70.3 million for Industrial Technologies and Services, $8.9 million for High Pressure Solutions, $6.9 million for Precision and Science Technologies, $6.0 million for Corporate and $0.8 million for Specialty Vehicle Technologies).
The following table summarizes the activity associated with the Company’s restructuring programs for the years ended December 31, 2019 and 2020, respectively.
20202019
Balance at beginning of the period$5.0 $8.8 
Charged to expense - termination benefits75.5 10.8 
Charged to expense - other(1)
8.2 3.0 
Acquired restructuring5.1 — 
Payments(77.3)(17.8)
Other, net1.0 0.2 
Balance at end of the period$17.5 $5.0 
(1)Excludes $9.2 million and $3.3 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the years ended December 31, 2020 and 2019, respectively.
The restructuring reserve related to these programs was $17.5 million and $5.0 million as of December 31, 2020 and 2019, respectively, and recorded in “Accrued liabilities” in the Consolidated Balance Sheets.