Restructuring Costs and Other

6 Months Ended

Jun. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring Costs and Other

Restructuring Costs and Other

In the three and six months ended June 30, 2019, we incurred costs for restructuring actions initiated in 2019 as well as costs for restructuring actions initiated in the prior year. Our restructuring actions are associated with cost reduction efforts that include the consolidation of manufacturing and distribution facilities as well as workforce reductions and the sale or exit of business units we determine to be non-strategic. Restructuring costs include severance and employee benefits, asset impairments, accelerated depreciation, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. These costs are predominantly settled in cash from our operating activities and are generally settled within one year, with the exception of asset impairments, which are non-cash, and certain pension obligations, which may be cash settled over multiple years.

Pre-tax restructuring costs incurred in each of our reporting segments and the location of the costs in the Condensed Consolidated Statement of Income for the three and six months ended June 30, 2019 and 2018 is as follows (in millions):

	Three Months Ended June 30,
	2019		2018		2019		2018			2019		2018
	Cost of goods sold				Selling & administrative expense					Total
Electrical	$	5.5	$	0.3	$	0.8	$	(0.3	)	$	6.3	$	—
Power	1.0		0.1		0.1		(0.1		)	1.1		—
Total Pre-Tax Restructuring Costs	$	6.5	$	0.4	$	0.9	$	(0.4	)	$	7.4	$	—

	Six Months Ended June 30,
	2019		2018		2019		2018			2019		2018
	Cost of goods sold				Selling & administrative expense					Total
Electrical	$	5.7	$	1.1	$	1.7	$	(0.4	)	$	7.4	$	0.7
Power	1.5		0.1		1.5		(0.1		)	3.0		—
Total Pre-Tax Restructuring Costs	$	7.2	$	1.2	$	3.2	$	(0.5	)	$	10.4	$	0.7

The following table summarizes the accrued liabilities for our restructuring actions (in millions):

	Beginning Accrued Restructuring Balance 1/1/19		Pre-tax Restructuring Costs		Utilization and Foreign Exchange			Ending Accrued Restructuring Balance 6/30/2019
2019 Restructuring Actions
Severance	$	—	$	6.6	$	(1.2	)	$	5.4
Asset write-downs	—		0.4		(0.4		)	—
Facility closure and other costs	—		2.2		(1.9		)	0.3
Total 2019 Restructuring Actions	$	—	$	9.2	$	(3.5	)	$	5.7
2018 and Prior Restructuring Actions
Severance	$	7.7	$	0.2	$	(3.5	)	$	4.4
Asset write-downs	—		0.1		(0.1		)	—
Facility closure and other costs(a)	13.3		0.9		(1.5		)	12.7
Total 2018 and Prior Restructuring Actions	$	21.0	$	1.2	$	(5.1	)	$	17.1
Total Restructuring Actions	$	21.0	$	10.4	$	(8.6	)	$	22.8

^(a) The beginning and ending accrual of Facility closure and other costs include certain multi-employer pension plan obligations that are settled over multiple years.

The actual costs incurred and total expected cost in each of our reporting segments of our on-going restructuring actions are as follows (in millions):

	Total expected costs		Costs incurred during 2018		Costs incurred during first six months of 2019		Remaining costs at 6/30/2019
2019 Restructuring Actions
Electrical	$	15.0	$	—	$	7.0	$	8.0
Power	2.5		—		2.2		0.3
Total 2019 Restructuring Actions	$	17.5	$	—	$	9.2	$	8.3
2018 and Prior Restructuring Actions
Electrical	$	13.6	$	8.3	$	0.4	$	4.9
Power	4.9		3.7		0.8		0.4
Total 2018 and Prior Restructuring Actions	$	18.5	$	12.0	$	1.2	$	5.3
Total Restructuring Actions	$	36.0	$	12.0	$	10.4	$	13.6