RESTRUCTURING INITIATIVES

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

In late 2017, we began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness. The primary focus of the plan is the Beauty + Home segment; however, certain global general and administrative functions are also being addressed. For the three and nine months ended September 30, 2020, we recognized $3.4 million and $15.6 million of restructuring costs related to this plan, respectively. For the three and nine months ended September 30, 2019, we recognized $6.0 million and $17.3 million of restructuring costs related to this plan, respectively. Using current exchange rates, we estimate total implementation costs of approximately $125 million for these initiatives, including costs that have been recognized to date. The cumulative expense incurred as of September 30, 2020 was $102.1 million. We also anticipate making capital investments related to the transformation plan of approximately $50 million, of which $47 million has been incurred to date.

As of September 30, 2020 we have recorded the following activity associated with the business transformation:


	Beginning Reserve at 12/31/2019		Net Charges for the Nine Months Ended 9/30/2020		Cash Paid		Interest and FX Impact		Ending Reserve at 9/30/2020
Employee severance	$	7,090	$	10,210	$	(6,157)	$	161	$	11,304
Professional fees and other costs	3,609		5,375		(5,359)		4		3,629
Totals	$	10,699	$	15,585	$	(11,516)	$	165	$	14,933