In December 2022, we entered into the TRS Agreement to manage cash flow requirements and our exposure to fluctuations in the share price of our SVS in connection with the settlement of certain outstanding equity awards under our SBC plans. See note 10 for further detail.
Information regarding employee and director SBC expense and TRS FVAs for the periods indicated is set forth below:
| Three months ended March 31 | |||||
| 2022 | 2023 | ||||
| Employee SBC expense in cost of sales | $ | 5.6 | $ | 8.5 | |
| Employee SBC expense in SG&A | 9.0 | 13.5 | |||
| Total employee SBC expense | $ | 14.6 | $ | 22.0 | |
| TRS FVAs in cost of sales | $ | — | $ | 0.1 | |
| TRS FVAs in SG&A | — | 0.1 | |||
| Total TRS FVAs | $ | — | $ | 0.2 | |
| Sum of employee SBC expense and TRS FVAs | $ | 14.6 | $ | 22.2 | |
| Director SBC expense in SG&A(1) | $ | 0.6 | $ | 0.6 | |
(1) Expense consists of director compensation to be settled with SVS, or SVS and cash, as elected by each director.
8 . OTHER CHARGES
| Three months ended March 31 | |||||
| 2022 | 2023 | ||||
| Restructuring charges (a) | $ | 3.1 | $ | 4.3 | |
| Transition Costs (b) | 1.5 | — | |||
| Acquisition Costs (c) | 0.2 | 0.3 | |||
| $ | 4.8 | $ | 4.6 | ||
(a)
Restructuring:
