

15.	Restructuring

During the first nine months of 2015, the Company recorded initial restructuring costs of approximately $8,514 related to the Company's global review of operations. This global review identified certain initiatives to further streamline the business, improve the Company's efficiency, and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. The costs related to this initiative are employee termination benefits. No payments were made during the first nine months of 2015. These costs are expected to be paid during the remainder of 2015 and 2016. The Company has determined that the amount of expense related to this program is probable and estimable and has recorded the impact on the unaudited condensed consolidated statements of income and in Accrued expenses on the unaudited condensed consolidated balance sheet.

The following table presents the Company’s restructuring liability for the three and nine months ended September 30, 2015:



	Three months ended September 30,					Nine months ended September 30,
	2015			2014		2015			2014
Beginning balance	$	8,822		$	—	$	—		$	—
Restructuring charges	—			—		8,559			—
Reserve release	(45		)	—		(45		)	—
Cash paid	—			—		—			—
Impact of foreign currency translation	(304		)	—		(41		)	—
Ending balance	$	8,473		$	—	$	8,473		$	—