Restructuring, Business Transformation and Other Cost Saving Initiatives (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Total charges incurred from our 2023 cost saving initiatives are summarized as follows:


	For the Three Months Ended September 30, 2023				For the Nine Months Ended September 30, 2023

(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accumulated Depreciation and Other Costs		Total
Selling, general and administrative	$	—	$	5.9	$	5.9	$	—	$	17.4	$	17.4
Research and development	—		0.2		0.2		—		0.7		0.7
Restructuring charges	37.7		17.3		55.0		62.6		33.8		96.4
Total charges	$	37.7	$	23.4	$	61.1	$	62.6	$	51.9	$	114.5

Total charges incurred from our 2022 cost saving initiatives are summarized as follows:


	For the Three Months Ended September 30,
	2023						2022
(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accumulated Depreciation and Other Costs(1)		Total
Restructuring charges	$	—	$	—	$	—	$	21.6	$	(6.2)	$	15.4
Total charges	$	—	$	—	$	—	$	21.6	$	(6.2)	$	15.4

	For the Nine Months Ended September 30,
	2023						2022
(In millions)	Severance Costs		Accelerated Depreciation and Other Costs		Total		Severance Costs		Accumulated Depreciation and Other Costs(1)		Total
Restructuring charges	$	—	$	2.6	$	2.6	$	110.2	$	13.9	$	124.1
Total charges	$	—	$	2.6	$	2.6	$	110.2	$	13.9	$	124.1

(1) Amounts reflect a gain recorded during the third quarter of 2022 of approximately $5.3 million related to the partial termination of a portion of our lease located at 300 Binney Street.

Schedule of Restructuring Reserve by Type of Cost

Charges and spending related to our 2023 and 2022 workforce reductions and Reata Integration are summarized as follows:


	Workforce Reductions
(In millions)	2023		2022

Restructuring reserve as of December 31	$	35.9		$	—
Expense	7.1			27.7
Payment	(15.6)			(6.2)
Foreign currency and other adjustments	0.6			—
Restructuring reserve as of March 31	28.0			21.5
Expense	17.8			60.9
Payment	(13.4)			(29.7)
Foreign currency and other adjustments	(0.1)			(0.5)
Restructuring reserve as of June 30	32.3			52.2
Expense	58.7			21.6
Payment	(31.8)			(32.3)
Foreign currency and other adjustments	0.1			(1.3)
Restructuring reserve as of September 30	$	59.3		$	40.2