Restructuring Activities

9 Months Ended

Dec. 31, 2021

Restructuring Activities [Abstract]

Restructuring Activities

Note 7: Restructuring Activities

During the first nine months of fiscal 2022, restructuring and repositioning expenses primarily consisted of severance-related costs associated with targeted headcount reductions in the CIS and Automotive segments and equipment transfer costs within the HDE segment.

During the first nine months of fiscal 2021, the Company recorded $3.1 million of severance expenses related to plant consolidation activities in China within the CIS segment.  The Company also implemented targeted headcount reductions in the HDE and CIS segments.

Restructuring and repositioning expenses were as follows:

	Three months ended December 31,				Nine months ended December 31,
	2021		2020		2021		2020
Employee severance and related benefits	$	1.4	$	0.5	$	1.7	$	6.2
Other restructuring and repositioning expenses		0.7		0.4		1.3		0.8
Total	$	2.1	$	0.9	$	3.0	$	7.0

Other restructuring and repositioning expenses primarily consist of equipment transfers and plant consolidation costs.

The Company accrues severance in accordance with its written plans, procedures, and relevant statutory requirements.  Changes in accrued severance were as follows:

	Three months ended December 31,
	2021			2020
Beginning balance	$	2.8		$	5.8
Additions		1.4			0.5
Payments		(0.9	)		(2.5	)
Reclassified from (to) held for sale		0.4			(0.8	)
Effect of exchange rate changes		(0.1	)		0.2
Ending balance	$	3.6		$	3.2

	Nine months ended December 31,
	2021			2020
Beginning balance	$	4.0		$	5.0
Additions		1.7			6.2
Payments		(2.3	)		(7.7	)
Reclassified from (to) held for sale		0.4			(0.8	)
Effect of exchange rate changes		(0.2	)		0.5
Ending balance	$	3.6		$	3.2