Restructuring and other strategic initiatives (Tables)

3 Months Ended

Mar. 28, 2020

Restructuring and Related Activities [Abstract]

Schedule of restructuring costs

Overall costs associated with our restructuring and other strategic initiatives have been recognized in the condensed consolidated statements as set forth below. Expenses incurred in relation to certain of these actions qualify as restructuring expenses under U.S. GAAP.

	Three months ended
(dollars in millions)	March 28, 2020		March 30, 2019
Restructuring expenses:
—Severance	$	0.2	$	2.6
—Professional fees	0.2		0.6
—Other restructuring expenses	1.5		0.1
Total restructuring expenses	$	1.9	$	3.3
Expenses related to other strategic initiatives:
—Severance costs included in cost of sales	$	0.1	$	—
—Severance costs (benefits) included in SG&A	0.5		(0.2)
Total expenses related to other strategic initiatives	$	0.6	$	(0.2)

These expenses include the impairment of inventory, which is recognized in cost of sales. Analyzed by segment, our restructuring expenses were as follows:

	Three months ended
(dollars in millions)	March 28, 2020		March 30, 2019
Power Transmission	$	0.2	$	2.9
Fluid Power	1.7		0.4
Continuing operations	$	1.9	$	3.3

Schedule of restructuring reserves activity

The following summarizes the reserve for restructuring expenses for the three months ended March 28, 2020 and March 30, 2019, respectively:

	Three months ended
(dollars in millions)	March 28, 2020		March 30, 2019
Balance as of the beginning of the period	$	2.9	$	2.6
Utilized during the period	(2.0)		(2.0)
Net charge for the period	2.4		3.3
Released during the period	(0.5)		—
Foreign currency translation	0.1		(0.1)
Balance as of the end of the period	$	2.9	$	3.8