RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS

9 Months Ended

Oct. 02, 2021

Restructuring and Related Activities [Abstract]

We have initiated various restructuring actions throughout our businesses during the past two years, including the 2020 Global Restructuring Plan described below. There are no other restructuring actions that are considered individually significant. The following table summarizes our total restructuring costs, which are presented separately in our Consolidated Condensed Statements of Operations.


	Three Months Ended				Nine Months Ended
	October 2, 2021		September 26, 2020		October 2, 2021		September 26, 2020
Severance and other employee-related	$	4.3	$	10.9	$	6.7	$	41.8
Asset write-offs	—		—		0.6		—
Other	0.2		0.6		0.9		0.7
Total restructuring costs	$	4.5	$	11.5	$	8.2	$	42.5
By segment:
Motion Technologies	$	4.1	$	—	$	4.1	$	14.0
Industrial Process	0.5		10.2		1.4		18.1
Connect & Control Technologies	(0.1)		1.3		2.4		8.0
Corporate and Other	—		—		0.3		2.4

The following table displays a rollforward of our restructuring liability, which is included within accrued liabilities on our Consolidated Condensed Balance Sheet.


	October 2, 2021		September 26, 2020
Beginning balance - January 1	$	19.1	$	7.5
Restructuring costs	9.9		43.3
Reversal of prior accruals	(1.7)		(0.8)
Cash payments	(11.3)		(24.5)
Asset write-offs	(0.6)		—
Foreign exchange translation and other	(0.7)		0.7
Ending balance	$	14.7	$	26.2
By accrual type:
Severance and other employee-related	$	14.5	$	25.8
Other	0.2		0.4

2020 Global Restructuring Plan

During 2020, we initiated an organizational-wide restructuring plan to reduce the overall cost structure of the Company primarily in response to a reduction in demand due to the COVID-19 pandemic. Through October 2, 2021, we have recognized restructuring charges of $45.6, including $43.8 in 2020, which are primarily related to involuntary severance costs. We expect to incur additional restructuring charges of approximately $2 during the remainder of 2021 to complete this action. Cash payments during the nine months ended October 2, 2021 were $10.3. The restructuring liability as of October 2, 2021 was $7.2, which we expect to be substantially paid by 2022.