Annual report pursuant to Section 13 and 15(d)

Transformation Program (Tables)

v3.24.0.1
Transformation Program (Tables)
12 Months Ended
Dec. 31, 2023
Transformation Programs Text Block [Abstract]  
Schedule of costs related to the transformation program

Costs related to the Transformation Program for the year ended December 31, 2023, 2022, and 2021 were as follows:

 

 

 

Year Ended
December 31,

 

 

Year Ended
December 31,

 

Year Ended
December 31,

 

 

 

2023

 

 

2022

 

2021

 

 

 

(in millions)

 

 

 

Professional fees

 

$

8.0

 

 

$

7.2

 

$

9.7

 

Retention and separation

 

 

45.7

 

 

 

4.8

 

 

3.0

 

Other

 

 

0.5

 

 

 

0.1

 

 

0.2

 

Total

 

$

54.2

 

 

$

12.1

 

$

12.9

 

Schedule of changes in the liabilities related to the transformation program

Changes in the liabilities related to the Transformation Program during the year ended December 31, 2023 and 2022, which were recognized in other current liabilities within the Company’s consolidated balance sheets, were as follows:

 

 

 

Professional
Fees

 

 

Retention and
Separation

 

 

Other

 

 

Total

 

 

 

(in millions)

 

Balance as of December 31, 2021

 

$

2.0

 

 

$

2.8

 

 

$

 

 

$

4.8

 

Expenses

 

 

7.2

 

 

 

4.8

 

 

 

0.1

 

 

 

12.1

 

Cash payments

 

 

(9.4

)

 

 

(4.4

)

 

 

(0.1

)

 

 

(13.9

)

Non-cash items and other

 

 

0.8

 

 

 

 

 

 

 

 

 

0.8

 

Balance as of December 31, 2022

 

$

0.6

 

 

$

3.2

 

 

$

 

 

$

3.8

 

Expenses

 

 

8.0

 

 

 

45.7

 

 

 

0.5

 

 

 

54.2

 

Cash payments

 

 

(7.6

)

 

 

(40.2

)

 

 

(0.5

)

 

 

(48.3

)

Non-cash items and other

 

 

 

 

 

(0.5

)

 

 

 

 

 

(0.5

)

Balance as of December 31, 2023

 

$

1.0

 

 

$

8.2

 

 

$

 

 

$

9.2