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Restructuring
12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
In the fourth quarter of 2022, the Company approved a business restructuring plan (Restructuring Plan) to simplify the Company’s operating model and portfolio of brands within the Consumer Brands Group and to reduce costs in all regions in the Consumer Brands Group, Performance Coatings Group and the Administrative segment. The actions taken under the Restructuring Plan better position the Company to continue to add long-term shareholder value. Key focus areas within the Consumer Brands Group include the China architectural business, aerosol portfolio and optimization of the overall retail portfolio. The majority of these restructuring actions are expected to be completed by the end of 2023.
The following table summarizes the activity and remaining liabilities associated with the Restructuring Plan:
Consumer Brands
Group
Performance
Coatings
Group
AdministrativeTotal
Balance at January 1, 2022
$— $— $— $— 
Provisions:
Severance and related costs14.5 19.5 34.0 
Other qualified costs11.1 2.7 13.8 
Total25.6 22.2 — 47.8 
Payments(5.7)(5.7)
Currency impact and other adjustments(0.4)(0.4)
Balance at December 31, 2022
$25.6 $16.1 $— $41.7 
Restructuring Plan Expense:
Total expense incurred to date$25.6 $22.2 $— $47.8 
Additional expense expected93.9 2.8 10.0 106.7 
Total expected expense$119.5 $25.0 $10.0 $154.5 
In addition to the provisions above, which were primarily recorded in Cost of goods sold and Selling, general and administrative expense, trademark impairment of $15.5 million was also recorded in the Consumer Brands Group. See Note 7 for further information.