Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING CHARGES

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RESTRUCTURING CHARGES
3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
 
    In the fourth quarter of 2020, we recorded $31.9 million ($24.3 million, net of tax) of restructuring charges, all of which were recorded in selling, general and administrative expenses within our Consolidated Statements of Income. These charges were recorded to general corporate expense and resulted from our continuing efforts to realign our internal resources to support the Company’s strategic objectives and primarily relate to a reduction in headcount. To date, we have paid $14.1 million of the 2020 restructuring costs with $10.1 million of it paid during the three months ended March 31, 2021. The remaining future payments are expected to be completed later in 2021.