Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING CHARGES

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RESTRUCTURING CHARGES
3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
 
In the fourth quarter of 2022, we recorded $24.0 million ($18.0 million, net of tax) of restructuring charges, all of which were recorded in selling, general and administrative expenses within our Consolidated Statements of Income. This charge was 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. As of March 31, 2023, $12.8 million of the fourth quarter 2022 restructuring charge has been paid, with the remaining future payments expected to be completed later in 2023.