Quarterly report pursuant to Section 13 or 15(d)

Restructuring

v3.22.2.2
Restructuring
 9 Months Ended
Sep. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
The Company incurs costs associated with restructuring initiatives intended to improve operating performance, profitability, and working capital levels. Actions associated with these initiatives may include improving productivity, workforce reductions, and the consolidation of facilities.
As of September 30, 2022, the Company has identified restructuring actions which will result in additional charges of approximately $0.4 million, primarily in the next 12 months.
The Company’s restructuring expenses are comprised of the following (in millions):
Successor
Three Months Ended September 30, 2022
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.1  $ —  $ 0.1 
Other(1)
—  0.5  0.5 
Total $ 0.1  $ 0.5  $ 0.6 
Nine Months Ended September 30, 2022
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.3  $ 1.3  $ 1.6 
Other(1)
0.5  3.3  3.8 
Total $ 0.8  $ 4.6  $ 5.4 
Predecessor
Three Months Ended September 30, 2021
Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 0.9  $ —  $ 0.9 
Other(1)
—  0.6  0.6 
Total $ 0.9  $ 0.6  $ 1.5 
Nine Months Ended September 30, 2021
(in millions) Cost of revenue Selling, general
 and administrative		 Total
Severance and employee costs $ 3.1  $ 0.8  $ 3.9 
Other(1)
0.6  0.7  1.3 
Total $ 3.7  $ 1.5  $ 5.2 
(1) Includes facilities, inventory write-downs, outside services, legal matters, and IT costs.
The Company does not allocate restructuring charges to segment income; instead, these costs are included in Corporate & other.
The following table summarizes the changes in the Company’s accrued restructuring balance, which are included in Accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets (in millions).
Successor
Balance at December 31, 2021 $ 1.4 
Restructuring charges 5.4 
Payments (5.1)
Adjustments — 
Balance at September 30, 2022 $ 1.7