XML 77 R57.htm IDEA: XBRL DOCUMENT v3.22.4
Restructuring Costs (Tables)
12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Summary of Restructuring Costs
Pre-tax restructuring costs incurred in each of our segments and the location of the costs in the Consolidated Statement of Income for the years ended December 31, 2022, 2021 and 2020 are as follows (in millions):
Twelve Months Ended December 31, 2022Twelve Months Ended December 31, 2021Twelve Months Ended December 31, 2020
Utility SolutionsElectrical SolutionsTotalUtility SolutionsElectrical SolutionsTotalUtility SolutionsElectrical SolutionsTotal
Restructuring costs
Cost of goods sold$4.5 $5.4 $9.9 $1.3 $1.1 $2.4 $9.2 $7.1 $16.3 
S&A expense(0.5)0.9 0.4 1.1 0.4 1.5 1.2 2.9 4.1 
Total restructuring costs$4.0 $6.3 $10.3 $2.4 $1.5 $3.9 $10.4 $10.0 $20.4 
Schedule of Restructuring Reserve by Type of Cost
The following table summarizes the accrued liabilities for our restructuring actions (in millions):
Beginning Accrued
 Restructuring Balance 1/1/22
Pre-tax Restructuring CostsUtilization and
Foreign Exchange
Ending Accrued
 Restructuring Balance 12/31/22
2022 Restructuring Actions
Severance$— $6.9 $(1.3)$5.6 
Asset write-downs— 0.8 (0.8)— 
Facility closure and other costs— 3.5 (3.2)0.3 
    Total 2022 Restructuring Actions$ $11.2 $(5.3)$5.9 
2021 and Prior Restructuring Actions
Severance$4.1 $(0.4)$(1.8)$1.9 
Asset write-downs— — — — 
Facility closure and other costs0.1 (0.5)0.5 0.1 
    Total 2021 and Prior Restructuring Actions$4.2 $(0.9)$(1.3)$2.0 
Total Restructuring Actions$4.2 $10.3 $(6.6)$7.9 

The actual and expected pre-tax costs for our restructuring actions are as follows (in millions):
Expected CostsCosts incurred in 2020Costs incurred in 2021Costs incurred in 2022Remaining costs at 12/31/22
2022 Restructuring Actions
Utility Solutions$5.0 $— $— $4.7 $0.3 
Electrical Solutions 10.2 — — 6.5 3.7 
    Total 2022 Restructuring Actions$15.2 $ $ $11.2 $4.0 
2021 Restructuring Actions
Utility Solutions$3.7 $— $1.8 $(0.7)$2.6 
Electrical Solutions0.4 — 0.6 (0.2)— 
    Total 2021 Restructuring Actions$4.1 $ $2.4 $(0.9)$2.6 
2020 and Prior Restructuring Actions
Utility Solutions$11.0 $10.4 $0.6 $— $— 
Electrical Solutions10.9 10.0 0.9 — — 
    Total 2020 and Prior Restructuring Actions$21.9 $20.4 $1.5 $ $ 
Total Restructuring Actions$41.2 $20.4 $3.9 $10.3 $6.6