RESTRUCTURING

2013 Plan

The Company continues to review its businesses for opportunities to reduce operating expenses and focus on executing its strategy based on core competencies and cost efficiencies. During the fourth quarter of 2013, the Company recorded expenses of $1.2 million and $0.3 million related to severance costs in the Safety and Security Systems Group and Corporate, respectively. Approximately $0.4 million of additional restructuring charges may be recognized in 2014 in the Safety and Security Systems Group in connection with the 2013 Plan.

2012 Plan

During the first quarter of 2012, the Company recorded expenses of $0.9 million related to severance costs in the Safety and Security Systems Group. These actions were completed in the fourth quarter of 2013.

During the fourth quarter of 2012, the Company recorded an additional $0.6 million related to severance costs within corporate expense. Based upon further developments, it was determined during the second quarter of 2013 that these costs were not required and the $0.6 million charge was reversed.

Restructuring reserves are included within other current liabilities on the Company’s consolidated balance sheets. The

following table summarizes the changes in the Company’s restructuring reserves:



(in millions)	Severance (2012 Plan)			Severance (2013 Plan)		Total
Balance as of December 31, 2011	$	—		$	—	$	—
Charges to restructuring expenses	1.5			—		1.5
Cash payments	(0.5		)	—		(0.5		)
Balance as of December 31, 2012	1.0			—		1.0
Charges to restructuring expenses	—			1.5		1.5
Adjustments	(0.8		)	—		(0.8		)
Cash payments	(0.2		)	—		(0.2		)
Balance as of December 31, 2013	$	—		$	1.5	$	1.5