XML 33 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring and Related Costs
3 Months Ended
Jan. 31, 2018
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
RESTRUCTURING AND RELATED COSTS
GCA Restructuring
Following the acquisition of GCA, during the first quarter of 2018 we initiated a restructuring program to achieve cost synergies from our combined operations. We expect our GCA restructuring and related activities to be complete by the second half of 2018.
2020 Vision Restructuring
During the fourth quarter of 2015, our Board of Directors approved a comprehensive strategy intended to have a positive transformative effect on ABM (the “2020 Vision”). As part of the 2020 Vision, we identified key priorities to differentiate ABM in the marketplace, accelerate revenue growth for certain industry groups, and improve our margin profile. We incurred additional expenses primarily related to external support fees during the first quarter of 2018 relating to this strategy. We do not expect to incur significant 2020 Vision restructuring and related expenses in the future, other than in connection with the continued consolidation of our real estate leases.
Rollforward of Restructuring and Related Liabilities
(in millions)
 
Balance,
October 31, 2017
 
Costs Recognized(1)
 
Payments
 
Non-Cash Items
 
Balance,
January 31, 2018
Employee severance
 
$
2.7

 
$
8.7

 
$
(3.3
)
 
$

 
$
8.1

External support fees
 
2.5

 
4.0

 
(2.5
)
 

 
4.0

Lease exit
 
2.8

 
0.5

 
(0.3
)
 
0.2

 
3.2

Other project fees
 
0.4

 
1.0

 
(0.6
)
 

 
0.8

Total
 
$
8.4

 
$
14.3

 
$
(6.7
)
 
$
0.2

 
$
16.1

(1) We include these costs within corporate expenses.
Cumulative Restructuring and Related Charges
(in millions)

External Support Fees

Employee Severance

Other Project Fees

Lease Exit Costs

Asset Impairment

Total
GCA

$
2.0


$
10.5


$
0.8


$


$


$
13.3

2020 Vision

30.0


13.7


10.6


6.3


4.7


65.1

Total

$
32.0


$
24.2


$
11.4


$
6.3


$
4.7


$
78.4