Restructuring and Other Items, net (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Other Items, net [Abstract]

Restructuring Charges by Segment

The following table outlines the amount of restructuring charges recorded within the Consolidated Statements of Income and the segments they relate to:

Restructuring and Other Items, net	Year Ended December 31,
(millions of dollars)	2023		2022		2021
Asset Write-Downs
Consumer & Specialties	$	71.7	$	—	$	0.7
Total asset write-down charges	$	71.7	$	—	$	0.7
Severance and other employee costs
Consumer & Specialties	$	0.9	$	—	$	0.4
Engineered Solutions		3.2		—		—
Corporate		2.8		—		—
Total severance and other employee costs	$	6.9	$	—	$	0.4
Total restructuring and other items, net	$	78.6	$	—	$	1.1

Reconciliation of Restructuring Liability

The following table is a reconciliation of our restructuring liability balance as of December 31, 2023 and 2022:

	December 31,
(millions of dollars)	2023			2022
Restructuring liability, beginning of period	$	—		$	2.2
Additional provisions		6.9			—
Cash payments		(2.8	)		(0.7	)
Other		(0.3	)		(1.5	)
Restructuring liability, end of period	$	3.8		$	—