XML 39 R23.htm IDEA: XBRL DOCUMENT v3.20.2
Related Party Disclosures
9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Upon closing the transaction with Distrivet, S.A. on April 30, 2020 (see Note 3 - Divestiture and Equity Method Investment), Distrivet became a related party. During the three months ended September 30, 2020, we provided management services and corporate branding to Distrivet under our agreement, and we provided goods to Distrivet. These services and product sales were not material during this period.

Because CD&R currently beneficially owns 19.99% of our common stock, they are deemed a related party. As part of the terms of the Investment Agreement, CD&R had the right to designate two members to our board of directors, which resulted in increasing the number of directors serving on the board from nine to ten directors. CD&R's current designees on our board of directors are Ravi Sachdev and Sandra E. Peterson. CD&R’s right to representation on our board is directly related to their level of share ownership; if CD&R sells some of their common stock, subject to certain thresholds, their right to representation on our board is reduced or eliminated. See Note 12 - Redeemable Series A Convertible Preferred Stock.