Other Operating Income (Expense), net

3 Months Ended

Mar. 31, 2023

Unusual or Infrequent Items, or Both [Abstract]

Other Operating Income (Expense), net

Other Operating Income (Expense), net

We have recorded incurred charges or realized benefits that we believe are significant to our current operating results warranting separate classification in other operating income (expense), net.

	Three Months Ended
	March 31, 2023		March 31, 2022
	(In millions)
Restructuring
Employee-related charges(1)	$	(0.5)	$	(0.3)
Asset abandonment and other restructuring costs	—		(1.0)
Intangible and tangible asset impairments, excluding goodwill(2)	—		(28.6)
Gains and (losses) on other disposals	—		2.3
Other operating income (expense), net	$	(0.5)	$	(27.6)

(1)See the restructuring section within this footnote for a summary of our restructuring activities.

(2)During the three months ended March 31, 2022, we identified a triggering event related to the Truss joint venture asset group within our Americas segment and recognized an impairment loss of $28.6 million, of which $12.1 million was attributable to the noncontrolling interest. The asset group was measured at fair value primarily using a market approach with Level 3 inputs.

Restructuring Activities

Our restructuring activities include strategic exit activities such as the disposal or wind down of certain brewery locations. We continually evaluate our cost structure and seek opportunities for efficiencies and cost savings as part of ongoing and new initiatives. As such, we may incur additional restructuring related charges or adjustments to previously recorded charges in the future, however, we are unable to estimate the amount of charges at this time.

The accrued restructuring balances as of March 31, 2023 represent expected future cash payments required to satisfy our remaining obligations, the majority of which we expect to be paid in the next 12 months.

	Americas		EMEA&APAC		Total
	(In millions)
As of December 31, 2022	$	3.6	$	6.4	$	10.0
Charges incurred and changes in estimates	—		0.5		0.5
Payments made	(0.9)		(3.1)		(4.0)
Foreign currency and other adjustments	0.1		—		0.1
As of March 31, 2023	$	2.8	$	3.8	$	6.6

	Americas		EMEA&APAC		Total
	(In millions)
As of December 31, 2021	$	10.9	$	1.5	$	12.4
Charges incurred and changes in estimates	0.3		—		0.3
Payments made	(3.1)		(0.3)		(3.4)
Foreign currency and other adjustments	0.1		(0.1)		—
As of March 31, 2022	$	8.2	$	1.1	$	9.3