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Restructuring (Tables)
9 Months Ended
Sep. 27, 2015
Restructuring  
Summary of the pre-tax cost by restructuring program

 

 

 

 

Third Quarter Ended

 

Nine Months Ended

 

 

 

September 27,
2015

 

September 28
2014

 

September 27,
2015

 

September 28,
2014

 

 

 

(in millions)

 

Restructuring costs:

 

 

 

 

 

 

 

 

 

2015 Actions

 

$

5.0 

 

$

—

 

$

10.3 

 

$

—

 

2013 Actions

 

—

 

0.4 

 

0.5 

 

2.9 

 

Other Actions

 

0.8 

 

—

 

1.7 

 

4.3 

 

 

 

 

 

 

 

 

 

 

 

Total restructuring

 

$

5.8 

 

$

0.4 

 

$

12.5 

 

$

7.2 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of recorded pre-tax restructuring in its business segments

 

 

 

Third Quarter Ended

 

Nine Months Ended

 

 

 

September 27,
2015

 

September 28,
2014

 

September 27,
2015

 

September 28,
2014

 

 

 

(in millions)

 

Americas

 

$

4.8

 

$

—

 

$

6.8

 

$

2.3

 

EMEA

 

0.8

 

0.4

 

2.3

 

4.1

 

Asia-Pacific

 

0.2

 

—

 

3.5

 

—

 

Corporate

 

—

 

—

 

(0.1

)

0.8

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

5.8

 

$

0.4

 

$

12.5

 

$

7.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Actions  
Restructuring  
Summary of total incurred, incurred program to date and expected pre-tax restructuring costs by business segment

 

 

 

Third Quarter
Ended

 

Nine Months Ended

 

 

 

 

 

 

 

September 27,
2015

 

September 27,
2015

 

Incurred
to Date

 

Total
Expected Costs

 

 

 

(in millions)

 

Asia-Pacific

 

$

0.2 

 

$

3.5 

 

$

3.5 

 

$

3.7 

 

Americas

 

4.8 

 

6.8 

 

6.8 

 

17.7 

 

 

 

 

 

 

 

 

 

 

 

Total restructuring costs

 

$

5.0 

 

$

10.3 

 

$

10.3 

 

$

21.4 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Actions | Americas and Asia Pacific  
Restructuring  
Summary of total expected, incurred and remaining pre-tax costs

 

 

 

Severance

 

Legal and
consultancy

 

Asset
write-downs

 

Facility
exit
and other

 

Total

 

 

 

(in millions)

 

Costs incurred—first quarter 2015

 

$

—

 

$

—

 

$

—

 

$

1.3 

 

$

1.3 

 

Costs incurred—second quarter 2015

 

3.7 

 

—

 

0.3 

 

—

 

4.0 

 

Costs incurred—third quarter 2015

 

2.5 

 

0.3 

 

0.9 

 

1.3 

 

5.0 

 

Remaining costs to be incurred

 

2.6 

 

0.2 

 

1.8 

 

6.5 

 

11.1 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total restructuring costs

 

$

8.8 

 

$

0.5 

 

$

3.0 

 

$

9.1 

 

$

21.4 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of restructuring reserve

 

 

 

 

 

 

 

 

 

Facility

 

 

 

 

 

 

 

Legal and

 

Asset

 

exit

 

 

 

 

 

Severance

 

consultancy

 

write-downs

 

and other

 

Total

 

 

 

(in millions)

 

Balance at December 31, 2014

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Net pre-tax restructuring charges

 

—

 

—

 

—

 

1.3

 

1.3

 

Utilization and foreign currency impact

 

—

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at March 29, 2015

 

$

—

 

$

—

 

$

—

 

$

1.3

 

$

1.3

 

Net pre-tax restructuring charges

 

3.7

 

—

 

0.3

 

—

 

4.0

 

Utilization and foreign currency impact

 

—

 

—

 

(0.3

)

—

 

(0.3

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 28, 2015

 

$

3.7

 

$

—

 

$

—

 

$

1.3

 

$

5.0

 

Net pre-tax restructuring charges

 

2.5

 

0.3

 

0.9

 

1.3

 

5.0

 

Utilization and foreign currency impact

 

(1.1

)

(0.1

)

(0.9

)

(0.7

)

(2.8

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 27, 2015

 

$

5.1

 

$

0.2

 

$

—

 

$

1.9

 

$

7.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Actions | EMEA  
Restructuring  
Summary of total expected, incurred and remaining pre-tax costs

 

 

 

Severance

 

Legal and
consultancy

 

Asset
write-downs

 

Facility
exit
and other

 

Total

 

 

 

(in millions)

 

Costs incurred—2014

 

$

6.9 

 

$

—

 

$

—

 

$

—

 

$

6.9 

 

Costs incurred—first quarter 2015

 

—

 

0.2 

 

0.1 

 

—

 

0.3 

 

Costs incurred—second quarter 2015

 

0.5 

 

—

 

—

 

—

 

0.5 

 

Costs incurred—third quarter 2015

 

0.5 

 

—

 

0.1 

 

—

 

0.6 

 

Remaining costs to be incurred

 

0.9 

 

—

 

0.6 

 

0.1 

 

1.6 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total restructuring costs

 

$

8.8 

 

$

0.2 

 

$

0.8 

 

$

0.1 

 

$

9.9 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of restructuring reserve

 

 

 

Severance

 

Legal and
consultancy

 

Asset
write-downs

 

Total

 

 

 

(in millions)

 

Balance at December 31, 2014

 

$

6.9

 

$

—

 

$

—

 

$

6.9

 

Net pre-tax restructuring charges

 

—

 

0.2

 

0.1

 

0.3

 

Utilization and foreign currency impact

 

(0.8

)

(0.2

)

(0.1

)

(1.1

)

 

 

 

 

 

 

 

 

 

 

Balance at March 29, 2015

 

$

6.1

 

$

—

 

$

—

 

$

6.1

 

Net pre-tax restructuring charges

 

0.5

 

—

 

—

 

0.5

 

Utilization and foreign currency impact

 

(0.2

)

—

 

—

 

(0.2

)

 

 

 

 

 

 

 

 

 

 

Balance at June 28, 2015

 

$

6.4

 

$

—

 

$

—

 

$

6.4

 

Net pre-tax restructuring charges

 

0.5

 

—

 

0.1

 

0.6

 

Utilization and foreign currency impact

 

(1.1

)

—

 

(0.1

)

(1.2

)

 

 

 

 

 

 

 

 

 

 

Balance at September 27, 2015

 

$

5.8

 

$

—

 

$

—

 

$

5.8