Restructuring Charge

6 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

We incurred restructuring charges (which generally consist of employee severance and termination costs, and contract terminations). These charges were incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

Three months ended June 30, 2021 vs. Three months ended June 30, 2020

We recorded a restructuring charge of $10.1 million for the three months ended June 30, 2021. This charge consists of:

•Severance costs of $8.0 million under ongoing benefit arrangements. Approximately 120 employees were impacted. Most of the employees impacted exited the Company by the end of the second quarter of 2021. The cash payments for these employees will be substantially completed by the end of the first quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $2.1 million.

We recorded a restructuring charge of $7.1 million for the three months ended June 30, 2020. This charge consists of:

•Severance costs of $4.2 million under ongoing benefit arrangements. Approximately 60 employees were impacted. Most of the employees impacted exited the Company by the end of the second quarter of 2020. The cash payments for these employees were substantially completed by the end of the fourth quarter of 2020; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $2.9 million.

Six months ended June 30, 2021 vs. Six months ended June 30, 2020

We recorded a restructuring charge of $15.9 million for the six months ended June 30, 2021. This charge consists of:

•Severance costs of $12.7 million under ongoing benefit arrangements. Approximately 155 employees were impacted. Most of the employees impacted exited the Company by the end of the second quarter of 2021. The cash payments for these employees will be substantially completed by the end of the first quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $3.2 million.

We recorded a restructuring charge of $11.9 million for the six months ended June 30, 2020. This charge consists of:

•Severance costs of $6.2 million under ongoing benefit arrangements. Approximately 100 employees were impacted. Most of the employees impacted exited the Company by the end of the second quarter of 2020. The cash payments for these employees were substantially completed by the end of the fourth quarter of 2020; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $5.7 million.

The following table sets forth the restructuring reserves and utilization for the three months ended March 31, 2021, June 30, 2021, March 31, 2020 and June 30, 2020:


	Severance and Termination		Contract Termination and Other Exit Costs		Total
2021:
Balance remaining as of December 31, 2020	$	2.6	$	7.1	$	9.7
Charge taken during first quarter 2021 (1)	4.7		(0.3)		4.4
Payments made during first quarter 2021	(2.4)		(0.9)		(3.3)
Balance remaining as of March 31, 2021	$	4.9	$	5.9	$	10.8
Charge taken during second quarter 2021 (1)	8.0		0.3		8.3
Payments made during second quarter 2021	(3.9)		(1.0)		(4.9)
Balance remaining as of June 30, 2021	$	9.0	$	5.2	$	14.2


2020:
Balance remaining as of December 31, 2019	$	5.8	$	4.5	$	10.3
Charge taken during first quarter 2020 (1)	2.0		—		2.0
Payments made during first quarter 2020	(4.6)		(1.4)		(6.0)
Balance remaining as of March 31, 2020	$	3.2	$	3.1	$	6.3
Charge taken during second quarter 2020 (1)	4.2		0.4		4.6
Payments made during second quarter 2020	(4.0)		(0.5)		(4.5)
Balance remaining as of June 30, 2020	$	3.4	$	3.0	$	6.4

(1)Balance excludes charges accounted for under ASU No. 2016-02, "Leases (Topic 842)."