Restructuring Charges

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities Disclosure

RESTRUCTURING CHARGES

During the past few years, we initiated additional cost reduction measures in response to global economic conditions. For the years ended December 31, 2014 and 2013, we have incurred $5.9 million and $19.8 million, respectively, of restructuring expenses which primarily comprise employee related costs. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet.

A rollforward of the Company’s accrual for restructuring activities for the years ended December 31, 2014 and 2013 is as follows:



	Employee Related			Other			Total
Balance at December 31, 2012	11,655			290			11,945
Restructuring charges	15,196			4,634			19,830
Cash payments / utilization	(14,156		)	(4,793		)	(18,949		)
Impact of foreign currency	359			—			359
Balance at December 31, 2013	13,054			131			13,185
Restructuring charges	4,669			1,246			5,915
Cash payments / utilization	(8,297		)	(1,360		)	(9,657		)
Impact of foreign currency	(1,007		)	—			(1,007		)
Balance at December 31, 2014	$	8,419		$	17		$	8,436

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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