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Restructuring
 12 Months Ended
Dec. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring Charges
Overview
2020 Repositioning - In the second quarter of 2020, we initiated actions in response to the adverse economic impact of COVID-19 and integration actions related to the Cummins-Allison acquisition. These actions include workforce reductions of approximately 1,200 employees, or about 11% of our global workforce, and the exiting of two leased office facilities and one leased warehouse facility.
2019 Repositioning - In the fourth quarter of 2019, we initiated actions to consolidate two manufacturing operations in Europe within our Fluid Handling segment. In 2020, we recorded additional severance costs related to the final negotiation with the works council/union at both locations. These actions, taken together, included workforce reductions of approximately 180 employees, or less than 1% of our global workforce.
2017 Repositioning - In the fourth quarter of 2017, we initiated broad-based repositioning actions designed to improve profitability. These actions included headcount reductions of approximately 300 employees, or about 3% of our global workforce, and select facility consolidations in North America and Europe. In 2020, we adjusted the estimate downward to reflect the impact of employees that chose to voluntarily terminate prior to receiving severance at the conclusion of the actions in North America.
Acquisition-Related Restructuring - In the third quarter of 2018, we initiated actions within our Payment & Merchandising Technologies segment related to the closure of Crane Currency’s printing operations in Sweden, which were transitioned to a new print facility in Malta. These actions included workforce reductions of approximately 170 employees, or less than 2% of our global workforce. There is no remaining liability associated with these actions as of December 31, 2019, and we do not expect to incur additional restructuring charges.
Other Restructuring - In the second quarter of 2020, we recorded other restructuring costs within our Payment & Merchandising Technologies segment. There is no remaining liability associated with these actions as of December 31, 2020, and we do not expect to incur additional restructuring charges.
Restructuring Charges, Net
During the year ended December 31, 2020, we recorded pre-tax charges primarily related to new restructuring actions (“2020 Repositioning”) as described above. These charges are reflected in the Consolidated Statements of Operations as “Restructuring charges, net.”
Restructuring charges, net by segment are as follows:
(in millions) For the year ended December 31,202020192018
Fluid Handling (a)
$6.1 $10.5 $6.1 
Payment & Merchandising Technologies (b)
19.1 7.4 2.1 
Aerospace & Electronics (c)
6.5 (0.4)(1.0)
Engineered Materials0.6 — — 
Total restructuring charges, net (d)
$32.3 $17.5 $7.2 
(a)
We also recorded related costs of $4.4 million, $8.7 million and $3.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
(b)
We also recorded related costs of $0.7 million, $0.2 million and $1.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
(c)
We also recorded related costs of $2.7 million and $2.0 million for the year ended December 31, 2019 and 2018, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
(d)
We also recorded related costs of $5.1 million, $11.6 million and $7.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. These costs primarily relate to facility consolidations and are recorded within Cost of sales and Selling, general and administrative.
The following table summarizes our restructuring charges, net by program, cost type and segment for the years ended December 31, 2020, 2019 and 2018:
December 31, 2020December 31, 2019December 31, 2018
(in millions)SeveranceOtherTotalSeveranceOtherTotalSeveranceOtherTotal
Fluid Handling$3.8 $— $3.8 $— $— $— $— $— $— 
Payment & Merchandising Technologies 16.6 4.6 
(a)
21.2 — — — — — — 
Aerospace & Electronics6.5 — 6.5 — — — — — — 
Engineered Materials0.6 — 0.6 — — — — — — 
2020 Repositioning$27.5 $4.6 $32.1 $— $— $— $— $— $— 
Fluid Handling$6.1 
(b)
$— $6.1 $9.9 $— $9.9 $— $— $— 
2019 Repositioning$6.1 $— $6.1 $9.9 $— $9.9 $— $— $— 
Fluid Handling$(3.8)
(b)
$— $(3.8)$0.6 $— $0.6 $6.1 $— $6.1 
Payment & Merchandising Technologies(0.9)
(b)
(1.5)
(c)
(2.4)0.3 1.8 2.1 0.1 0.4 0.5 
Aerospace & Electronics— — — — (0.4)(0.4)— (1.0)(1.0)
2017 Repositioning$(4.7)
(b)
$(1.5)
(c)
$(6.2)$0.9 $1.4 $2.3 $6.2 $(0.6)$5.6 
Payment & Merchandising Technologies$— $— $— $1.7 $3.6 $5.3 $1.6 $— $1.6 
Acquisition-Related Restructuring$— $— $— $1.7 $3.6 $5.3 $1.6 $— $1.6 
Payment & Merchandising Technologies$0.3 $— $0.3 $— $— $— $— $— $— 
Other Restructuring$0.3 $— $0.3 $— $— $— $— $— $— 
Total$29.2 $3.1 $32.3 $12.5 $5.0 $17.5 $7.8 $(0.6)$7.2 
(a)
Primarily reflects non-cash charges related to the impairment of ROU assets and leasehold improvements associated with the exit of the three leased facilities in 2020.
(b)
Reflects changes in estimates for increases and decreases in costs related to our restructuring programs.
(c)
Reflects a pre-tax gain related to the sale of a facility in 2020.
The following table summarizes the cumulative restructuring costs incurred through December 31, 2020 and the remaining costs related to facility consolidations expected to complete these actions as of December 31, 2020:
Cumulative Restructuring CostsRemaining Costs
(in millions)SeveranceOtherTotal2021
Fluid Handling$3.8 $— $3.8 $— 
Payment & Merchandising Technologies16.6 4.6 21.2 — 
Aerospace & Electronics6.5 — 6.5 — 
Engineered Materials0.6 — 0.6 — 
2020 Repositioning$27.5 $4.6 $32.1 $— 
Fluid Handling$16.0 $— $16.0 $2.6 
2019 Repositioning$16.0 $— $16.0 $2.6 
Fluid Handling$13.5 $— $13.5 $— 
Payment & Merchandising Technologies11.7 0.7 12.4 — 
Aerospace & Electronics1.3 (1.4)(0.1)— 
2017 Repositioning$26.5 $(0.7)$25.8 $— 
Restructuring Liability
The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions)2020 Repositioning2019 Repositioning2017 RepositioningAcquisition Related RestructuringOther RestructuringTotal
Severance:
Balance at December 31, 2018$— $— $23.2 $— $— $23.2 
Expense (a)
— 9.9 0.9 1.7 — 12.5 
Utilization— — (11.6)(1.7)— (13.3)
Balance at December 31, 2019$— $9.9 $12.5 $— $— $22.4 
Expense (a)
27.5 — — — 0.3 27.8 
Adjustments (b)
— 6.1 (4.7)— — 1.4 
Utilization(23.3)— (3.1)— (0.3)(26.7)
Balance at December 31, 2020 (c)
$4.2 $16.0 $4.7 $— $— $24.9 
Other Restructuring Costs:
Balance at December 31, 2018$— $— $— $— $— $— 
Expense (a)
— — 1.4 3.6 — 5.0 
Utilization— — (1.2)(3.6)— (4.8)
Balance at December 31, 2019$— $— $0.2 $— $— $0.2 
Expense (gain) (a)
4.6 — (1.5)— — 3.1 
Utilization(4.6)— 1.3 — — (3.3)
Balance at December 31, 2020$— $— $— $— $— $— 
(a)Included within “Restructuring charges, net” in the Consolidated Statements of Operations
(b)
Included within “Restructuring charges, net” in the Consolidated Statements of Operations and reflects changes in estimates for increases and decreases in costs related to our restructuring programs
(c)
Included within Accrued Liabilities in the Consolidated Balance Sheets