Management Actions (Notes)

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

.     Management Actions

Restructuring Actions

During 2018, we implemented a restructuring action consisting of severance to further our integration efforts related to the IPC Group. The pre-tax charge of $1.0 million was included within Selling and Administrative Expense in the Consolidated Statements of Operations. The charge impacted our EMEA and APAC operating segments. We estimate the savings will offset the pre-tax charge approximately one year from the date of the action.

During 2019, we implemented restructuring actions to further our integration efforts related to the IPC Group. The pre-tax charge of $4.8 million consisting of severance was included, with $0.3 million in Cost of Sales and $4.5 million in Selling and Administrative Expense in the Consolidated Statements of Earnings. The charge impacted our EMEA and Americas operating segments. We estimate the savings will offset the pre-tax charge approximately one year from the date of the action.

A reconciliation to the ending liability balance of severance and related costs as of December 31, 2019 is as follows:

	Severance and Related Costs
December 31, 2017 Balance	$	3.4
2018 charges and utilization:
New charges	1.0
Cash payments	(2.1		)
Foreign currency adjustments	(0.1		)
December 31, 2018 Balance	2.2
2019 charges and utilization:
New charges	6.1
Cash payments	(2.5		)
Adjustment to accrual	(1.3		)
December 31, 2019 Balance	$	4.5

Other Actions

During the second quarter of 2019, we recorded a $2.7 million write-down of a portion of a note receivable related to the divestiture of the Green Machine business to adjust the balance to net realizable value. This write-down was recorded in Selling and Administrative Expenses. In the third quarter of 2019, we collected the remaining balance of the note receivable.

In 2019, we made the decision to exit certain product lines and as a result recorded $3.3 million in Cost of Sales to reflect our estimate of inventory that will not be sold.