Restructuring

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring and Transformation Program

In 2021, we launched and committed resources to a program designed to accelerate growth and drive margin expansion through transformation of our business model to drive operational excellence, reduce complexity and streamline our processes (the “Transformation Program”). The Transformation Program is structured in multiple phases and is expected to empower us to work more efficiently and optimize our business to better serve our customers while meeting our financial objectives.

During 2021, 2020 and 2019, we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Initiatives during the years ended December 31, 2021, 2020 and 2019 included a reduction in hourly and salaried headcount of approximately 75 employees, 175 employees and 375 employees, respectively.

Restructuring and transformation-related costs included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income included costs for severance and other restructuring costs as follows:

	Years ended December 31
In millions	2021		2020		2019
Severance and related costs	$	7.0	$	9.7	$	11.7
Other restructuring costs (1)	0.4		4.4		2.3
Total restructuring costs	7.4		14.1		14.0
Transformation costs (2)	11.7		—		—
Total restructuring and transformation costs	$	19.1	$	14.1	$	14.0

(1) Other restructuring costs primarily consist of asset impairment and various contract termination costs.

(2) Transformation costs primarily consist of professional services and project management and related costs.

Restructuring and transformation costs by reportable segment were as follows:

	Years ended December 31
In millions	2021		2020		2019
Consumer Solutions	$	0.9	$	3.6	$	6.7
Industrial & Flow Technologies	0.9		4.7		4.9
Other	17.3		5.8		2.4
Consolidated	$	19.1	$	14.1	$	14.0

Activity related to accrued severance and related costs recorded in Other current liabilities in the Consolidated Balance Sheets is summarized as follows:

	Years ended December 31
In millions	2021		2020
Beginning balance	$	15.2	$	16.2
Costs incurred	7.0		9.7
Cash payments and other	(11.5)		(10.7)
Ending balance	$	10.7	$	15.2