XML 39 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
RESTRUCTURING CHARGES (Tables)
 6 Months Ended
Jun. 30, 2018
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Charges
A summary of the EA Integration Restructuring Charges incurred through June 30, 2018 is presented in the following table:
 
Restructuring Charges and Other, Net
 
 
 
 
 
 
 
Employee Severance and Other Personnel Benefits
 
Lease Termination and Other Costs
 
Total Restructuring Charges
 
Inventory Adjustments(b)
 
Other Related Charges(c)
 
Total Restructuring and Related Charges
Charges incurred through December 31, 2017
$
62.8

 
$
5.0

 
$
67.8

 
$
1.4

 
$
3.0

 
$
72.2

Charges incurred during the six months ended June 30, 2018
9.9

 
(1.8
)
(a) 
8.1

 
0.3

 
—

 
8.4

Cumulative charges incurred through June 30, 2018
$
72.7

 
$
3.2

 
$
75.9

 
$
1.7

 
$
3.0

 
$
80.6

(a) Primarily represents the reversal of lease termination costs related to certain re-occupied office space.
(b) Inventory adjustments are recorded within cost of sales in the Company’s consolidated statement of operations and comprehensive (loss) income.
(c) Other related charges are recorded within SG&A in the Company’s consolidated statement of operations and comprehensive (loss) income.
A summary of the EA Integration Restructuring Charges incurred through June 30, 2018 by reportable segment is presented in the following table:
 
 
Charges incurred during the six months ended June 30, 2018
 
Cumulative charges incurred through June 30, 2018
Revlon
 
$
6.2

 
$
30.8

Elizabeth Arden
 
(0.1
)
 
12.7

Portfolio
 
0.6

 
14.0

Fragrances
 
1.4

 
18.4

     Total
 
$
8.1

 
$
75.9
Schedule of Liability Balance and Activity of Restructuring Programs
The liability balance and related activity for each of the Company's restructuring programs are presented in the following table:
 
 
 
 
 
 
 
Utilized, Net
 
 
Liability
Balance at January 1, 2018
 
Expense (Income), Net
 
Foreign Currency Translation
 

Cash
 

Non-cash
 
Liability Balance at June 30, 2018
EA Integration Restructuring Program:(a)
 
 
 
 
 
 
 
 
 
 
 
Employee severance and other personnel benefits
$
25.8

 
$
9.9

 
$
(0.2
)
 
$
(12.1
)
 
$
—

 
$
23.4

Other
3.9

 
(1.5
)
 
—

 
(0.8
)
 
—

 
1.6

Total EA Integration Restructuring Program
29.7

 
8.4

 
(0.2
)
 
(12.9
)
 
—

 
25.0

 
 
 
 
 
 
 
 
 
 
 
 
Other individually immaterial actions:(b)

 
 
 
 
 
 
 
 
 
 
Employee severance and other personnel benefits
2.5

 
1.9

 
—

 
(1.2
)
 
—

 
3.2

Other
1.7

 
—

 
—

 
—

 
—

 
1.7

Total other individually immaterial actions
4.2

 
1.9

 
—

 
(1.2
)
 
—

 
4.9

Total restructuring reserve
$
33.9

 
$
10.3

 
$
(0.2
)
 
$
(14.1
)
 
$
—

 
$
29.9



(a) Includes $0.3 million in charges related to inventory adjustments and other restructuring-related charges that were reflected within cost of sales in the Company’s June 30, 2018 Unaudited Consolidated Statement of Operations and Comprehensive (Loss) Income.
(b) Consists primarily of: (i) costs related to the program that Elizabeth Arden commenced prior to the Company’s acquisition of Elizabeth Arden, Inc. (“Elizabeth Arden” and the “Elizabeth Arden Acquisition”) on September 7, 2016 (the “Elizabeth Arden Acquisition Date”) to further align their organizational structure and distribution arrangements for the purpose of improving their go-to-trade capabilities and execution and to streamline their organization (the "Elizabeth Arden 2016 Business Transformation Program"); and (ii) costs related to the Company's September 2015 restructuring actions taken to drive certain organizational efficiencies, including reducing general and administrative expenses, within the Company's Revlon and Portfolio segments (the "2015 Efficiency Program"). Actions under the 2015 Efficiency Program were substantially completed by the end of 2017. Total restructuring and related charges incurred for the 2015 Efficiency Program were $7.6 million, of which $7.2 million resulted in cash payments.