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Restructuring and Other Charges, Net | 12 Months Ended
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Dec. 31, 2014
Restructuring and Other Charges, Net |
Restructuring and Other Charges, Net | (4) Restructuring and Other Charges, Net The Company's Board of Directors approves all major restructuring programs that involve the discontinuance of significant product lines or the shutdown of significant facilities. From time to time, the Company takes additional restructuring actions, including involuntary terminations that are not part of a major program. The Company accounts for these costs in the period that the individual employees are notified or the liability is incurred. These costs are included in restructuring and other charges in the Company's consolidated statements of operations. A summary of the pre-tax cost by restructuring program is as follows:
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
Restructuring costs: |  |  |  |  |  |  |  |  |  |
2013 Actions |  | $ | 3.8 |  | $ | 4.1 |  | $ | — |
Other Actions |  |  | 11.3 |  |  | 5.9 |  |  | 5.2 |
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Total restructuring charges |  |  | 15.2 |  |  | 10.0 |  |  | 5.2 |
Adjustment related to contingent liability reduction |  |  | — |  |  | (0.2 | ) |  | (1.0 | )
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Less: amount included in cost of goods sold |  |  | — |  |  | (1.1 | ) |  | — |
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Total restructuring and other charges, net |  | $ | 15.2 |  | $ | 8.7 |  | $ | 4.2 |
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The Company recorded pre-tax restructuring charges in its business segments as follows:
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in millions) |
Americas |  | $ | 2.1 |  | $ | 1.3 |  | $ | 1.3 |
EMEA |  |  | 12.1 |  |  | 8.7 |  |  | 3.9 |
Asia-Pacific |  |  | 0.2 |  |  | — |  |  | — |
Corporate |  |  | 0.8 |  |  | — |  |  | — |
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Total |  | $ | 15.2 |  | $ | 10.0 |  | $ | 5.2 |
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2013 Actions On July 30, 2013, the Board of Directors authorized a restructuring program with respect to the Company's EMEA segment to reduce its European manufacturing footprint, improve organizational and operational efficiency and better align costs with expected revenues in response to changing market conditions. The restructuring program is expected to include a pre-tax charge to earnings totaling approximately $8.1 million, all of which is expected to be recorded through the end of fiscal 2015. In 2014, the total expected costs of the planned actions were reduced from $14.0 million to $8.1 million, primarily related to reduced severance costs and favorable foreign exchange rates with the weakening of the euro. Approximately $1.5 million of expected severance and asset write-down costs that were initially anticipated in the 2013 actions have been included in the 2014 EMEA other actions discussed below. The total 2013 actions charge will include costs for severance benefits, relocation, site clean-up, professional fees and certain asset write-downs. The total net after-tax charge for the restructuring program is expected to be approximately $5.7 million. The net after-tax charges incurred in 2014 and 2013 were $2.7 million and $2.9 million, respectively. Details of the Company's 2013 European footprint program reserve for the year ended December 31, 2014 and 2013 are as follows:
|  | Severance |
|  | (in millions) |
Balance at December 31, 2012 |  | $ | — |
Net pre-tax restructuring charges |  |  | 4.1 |
Utilization and foreign currency impact |  |  | (2.1 | )
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Balance at December 31, 2013 |  | $ | 2.0 |
Net pre-tax restructuring charges |  |  | 3.8 |
Utilization and foreign currency impact |  |  | (4.3 | )
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Balance at December 31, 2014 |  | $ | 1.5 |
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The following table summarizes total expected, incurred and remaining pre-tax costs for 2013 European restructuring program actions by type, and all attributable to the EMEA reportable segment:
|  | Severance |  | Legal and consultancy |  | Asset write-downs |  | Facility exit and other |  | Total |
|  | (in millions) |
Expected costs |  | $ | 7.5 |  | $ | 0.2 |  | $ | 0.2 |  | $ | 0.2 |  | $ | 8.1 |
Costs incurred—2013 |  |  | (4.1 | ) |  | — |  |  | — |  |  | — |  |  | (4.1 | )
Costs incurred—2014 |  |  | (3.2 | ) |  | (0.2 | ) |  | (0.2 | ) |  | (0.2 | ) |  | (3.8 | )
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Remaining costs at December 31, 2014 |  | $ | 0.2 |  | $ | — |  | $ | — |  | $ | — |  | $ | 0.2 |
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Other Actions The Company also periodically initiates other actions which are not part of a major program. Total "Other Actions" pre-tax restructuring expense was $11.3 million, $5.9 million and $5.2 million in 2014, 2013 and 2012, respectively. In the fourth quarter of 2014, management initiated certain restructuring actions and strategic initiatives with respect to the Company's EMEA segment in response to the ongoing economic challenges in Europe and additional product rationalization. The restructuring actions primarily include expected severance benefits and limited costs relating to asset write offs, professional fees and relocation. The total pre-tax charge for these restructuring initiatives is expected to be approximately $9.9 million, of which approximately $6.9 million of pre-tax severance charges were incurred in the fourth quarter of 2014. The remaining expected costs relate to severance, asset write-offs, professional fees and relocation costs and are expected to be completed by the end of the fourth quarter of fiscal 2016. The following table summarizes total expected, incurred and remaining pre-tax costs for the EMEA restructuring actions and strategic initiatives which began in the fourth quarter of 2014:
|  | Severance |  | Legal and consultancy |  | Asset write-downs |  | Facility exit and other |  | Total |
|  | (in millions) |
Expected costs |  | $ | 8.8 |  | $ | 0.1 |  | $ | 0.9 |  | $ | 0.1 |  | $ | 9.9 |
Costs incurred—2014 |  |  | (6.9 | ) |  | — |  |  | — |  |  | — |  |  | (6.9 | )
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Remaining costs at December 31, 2014 |  | $ | 1.9 |  | $ | 0.1 |  | $ | 0.9 |  | $ | 0.1 |  | $ | 3.0 |
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In 2014, the Company initiated restructuring activities in the Americas, Asia-Pacific and Corporate to reduce costs through reductions-in-force. Total pre-tax restructuring expense incurred relating to these initiatives was $3.1 million and there are no remaining expected costs. In 2013, the Company initiated restructuring activities with respect to the Company's operating facilities in EMEA, which included the relocation and closure of a manufacturing facility in Italy and other relocation initiatives in Europe. Total pre-tax restructuring expense incurred relating to these initiatives was $1.3 million and $4.6 million in 2014 and 2013, respectively, and there are no remaining expected costs. In 2012, the Company initiated restructuring activities in North America and Europe which continued into 2013. The restructuring activities in the Americas included the relocation of certain production activities, which included the closure of a manufacturing site, severance and shutdown costs in North America. $1.3 million of costs were incurred in both 2013 and 2012 relating to these activities and there are no remaining expected costs.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 + Details
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