Restructuring Restructuring (Tables)

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring gain, net by segment are as follows:


	Three Months Ended March 31,
(in millions)	2021		2020
Fluid Handling 1	$	(12.6)	$	—
Payment & Merchandising Technologies	(0.5)		(1.2)


Total restructuring gain, net 1	$	(13.1)	$	(1.2)

1 We also recorded related costs of $1.4 million and $1.3 million for the three months ended March 31, 2021 and 2020, 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 (gain) charges, net by program, cost type and segment for the three months ended March 31, 2021 and 2020:


	Three months ended March 31, 2021						Three months ended March 31, 2020
(in millions)	Severance		Other		Total		Severance		Other		Total

Payment & Merchandising Technologies	$	(0.5)	$	—	$	(0.5)	$	—	$	—	$	—


2020 Repositioning	$	(0.5)	$	—	$	(0.5)	$	—	$	—	$	—

Fluid Handling	$	0.1	$	—	$	0.1	$	—	$	—	$	—
2019 Repositioning	$	0.1	$	—	$	0.1	$	—	$	—	$	—

Fluid Handling 1	$	—	$	(12.7)	$	(12.7)	$	—	$	—	$	—
Payment & Merchandising Technologies 1	—		—		—		—		(1.5)		(1.5)

2017 Repositioning	$	—	$	(12.7)	$	(12.7)	$	—	$	(1.5)	$	(1.5)




Payment & Merchandising Technologies	$	—	$	—	$	—	$	0.3	$	—	$	0.3
Other Restructuring	$	—	$	—	$	—	$	0.3	$	—	$	0.3

Total	$	(0.4)	$	(12.7)	$	(13.1)	$	0.3	$	(1.5)	$	(1.2)

1 Reflects a pre-tax gain related to the sale of real estate in both 2021 and 2020

The following table summarizes the cumulative restructuring costs, net incurred through March 31, 2021 and the remaining costs related to facility consolidations expected to complete these actions as of March 31, 2021:


	Cumulative Restructuring Costs, Net						Remaining Costs
(in millions)	Severance		Other		Total		2021
Fluid Handling	$	3.8	$	—	$	3.8	$	—
Payment & Merchandising Technologies	16.1		4.6		20.7		—
Aerospace & Electronics	6.5		—		6.5		—
Engineered Materials	0.6		—		0.6		—
2020 Repositioning	$	27.0	$	4.6	$	31.6	$	—

Fluid Handling	$	16.1	$	—	$	16.1	$	2.1
2019 Repositioning	$	16.1	$	—	$	16.1	$	2.1

Fluid Handling	$	13.5	$	(12.7)	$	0.8	$	—
Payment & Merchandising Technologies	11.7		0.7		12.4		—
Aerospace & Electronics	1.3		(1.4)		(0.1)		—
2017 Repositioning	$	26.5	$	(13.4)	$	13.1	$	—

Restructuring Liability

The following table summarizes the accrual balances related to these restructuring (gain) charges by program:


(in millions)	2020 Repositioning		2019 Repositioning		2017 Repositioning		Total
Severance:
Balance at December 31, 2020 (c)	$	4.2	$	16.0	$	4.7	$	24.9
Expense (a)	—		0.1		—		0.1
Adjustments (b)	(0.5)		—		—		(0.5)
Utilization	(2.4)		(2.6)		(0.1)		(5.1)
Balance at March 31, 2021 (c)	$	1.3	$	13.5	$	4.6	$	19.4


(a)			Included within Restructuring gain, net in the Condensed Consolidated Statements of Operations
(b)			Included within Restructuring gain, net in the Condensed 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 Condensed Consolidated Balance Sheets