Annual report pursuant to Section 13 and 15(d)

RESTRUCTURING CHARGES

v3.20.4
RESTRUCTURING CHARGES
12 Months Ended
Dec. 31, 2020
Restructuring Charges [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
 
In the fourth quarter of 2020, first quarter of 2019 and fourth quarter of 2018, we recorded $31.9 million ($24.3 million, net of tax), $11.5 million ($8.8 million, net of tax) and $46.1 million ($35.0 million, net of tax) of restructuring charges, respectively, all of which were recorded in selling, general and administrative expenses on our Consolidated Statements of Income (Loss). 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. The 2020, 2019 and 2018 restructuring charges primarily relate to a reduction in headcount. As of December 31, 2020, payments made related to the 2020 restructuring charge were $4.1 million, and we consider the payments for the 2019 and 2018 charges to be substantially completed.