Management Actions

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring Actions

During the three months ended March 31, 2022, we incurred restructuring expenses as part of our ongoing global reorganization efforts. The pre-tax charge of $0.8 million consisted of severance-related costs included in selling and administrative expense in the consolidated statements of income. The charge in 2022 primarily impacted the Americas operating segments. Our restructuring actions represent the continued execution of a multi-year enterprise strategy to drive increased productivity throughout our operations.

A reconciliation of the beginning and ending liability balances for severance-related costs is as follows:


	Three Months Ended March 31,
	2023		2022
Beginning balance	$	1.7	$	4.9
New charges	—		0.8
Cash payments	(0.5)		(0.7)
Foreign currency fluctuations	—		(0.1)
Adjustments to accrual	—		(0.6)
Ending balance	$	1.2	$	4.3