Restructuring and Other Costs (Tables)

3 Months Ended

Dec. 31, 2023

Restructuring And Other Costs [Abstract]

Schedule of Restructuring and Other Costs

The following table summarizes our Restructuring and other costs, net (in millions):


	Three Months Ended
	December 31,
	2023		2022
Restructuring	$	62.7	$	15.4
Other		2.8		16.7
Restructuring and other costs, net	$	65.5	$	32.1

Schedule of Restructuring Charges Related to Active Restructuring Initiatives

The following table presents a summary of restructuring charges related to active restructuring initiatives that we incurred during the three months ended December 31, 2023 and 2022, the cumulative recorded amount since we started the initiatives and our estimates of the total charges we expect to incur (in millions). These estimates are subject to a number of assumptions, and actual results may differ.


	Three Months Ended
	December 31,
	2023			2022			Cumulative		Total Expected
Corrugated Packaging
PP&E and related costs	$	0.3		$	(0.9	)	$	12.7	$	12.7
Severance and other employee costs		4.5			1.7			23.2		23.3
Other restructuring costs		3.2			0.1			10.9		33.0
Restructuring total	$	8.0		$	0.9		$	46.8	$	69.0

Consumer Packaging
PP&E and related costs	$	0.7		$	—		$	5.0	$	5.0
Severance and other employee costs		18.6			6.4			46.3		47.8
Other restructuring costs		1.6			(0.3	)		8.3		17.1
Restructuring total	$	20.9		$	6.1		$	59.6	$	69.9

Global Paper
PP&E and related costs	$	(4.1	)	$	(1.1	)	$	951.6	$	951.6
Severance and other employee costs		(5.1	)		(0.2	)		36.9		37.9
Other restructuring costs		44.0			6.0			168.8		268.0
Restructuring total	$	34.8		$	4.7		$	1,157.3	$	1,257.5

Distribution
Severance and other employee costs	$	(0.1	)	$	—		$	1.7	$	1.7
Other restructuring costs		(2.8	)		—			8.2		10.5
Restructuring total	$	(2.9	)	$	—		$	9.9	$	12.2

Corporate
PP&E and related costs	$	—		$	0.4		$	2.6	$	2.6
Severance and other employee costs		0.3			2.2			7.5		7.5
Other restructuring costs		1.6			1.1			19.6		23.7
Restructuring total	$	1.9		$	3.7		$	29.7	$	33.8

Total
PP&E and related costs	$	(3.1	)	$	(1.6	)	$	971.9	$	971.9
Severance and other employee costs		18.2			10.1			115.6		118.2
Other restructuring costs		47.6			6.9			215.8		352.3
Restructuring total	$	62.7		$	15.4		$	1,303.3	$	1,442.4

Schedule of Acquisition, Integration and Divestiture Costs

The following table presents our acquisition, integration and divestiture costs (in millions):


	Three Months Ended
	December 31,
	2023		2022
Acquisition costs	$	1.9	$	11.0
Integration costs		0.6		4.3
Divestiture costs		0.3		1.4
Other total	$	2.8	$	16.7

Schedule of Changes in Restructuring Accrual and Reconciliation of Accrual Charges

The following table summarizes the changes in the restructuring accrual, which is primarily composed of accrued severance and other employee costs, and a reconciliation of the restructuring accrual charges to the line item “Restructuring and other costs, net” on our consolidated statements of operations (in millions):


	Three Months Ended
	December 31,
	2023			2022
Accrual at beginning of fiscal year	$	55.5		$	25.2
Additional accruals		22.1			11.6
Payments		(15.0	)		(13.7	)
Adjustment to accruals		(4.0	)		(1.7	)
Foreign currency rate changes and other		0.4			—
Accrual at December 31	$	59.0		$	21.4

Reconciliation of accruals and charges to restructuring and other costs, net (in millions):


	Three Months Ended
	December 31,
	2023			2022
Additional accruals and adjustments to accruals (see table above)	$	18.1		$	9.9
PP&E and related costs		(3.1	)		(1.6	)
Severance and other employee costs		0.2			0.1
Acquisition costs		1.9			11.0
Integration costs		0.6			4.3
Divestiture costs		0.3			1.4
Other restructuring costs		47.5			7.0
Total restructuring and other costs, net	$	65.5		$	32.1

WestRock Co 10-Q