Restructuring

In 2015, the Company recorded charges of $88.8 million in connection with its restructuring actions. These charges consist of $68.4 million recorded as cost of sales, $18.4 million recorded as selling, general and administrative expenses and $2.0 million recorded as other expense, net. The restructuring charges consist of employee termination benefits of $70.0 million, asset impairment charges of $3.9 million, a pension benefit plan curtailment loss of $7.7 million and other contract termination costs of $1.7 million, as well as other related costs of $5.5 million. Employee termination benefits were recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Asset impairment charges relate to the disposal of buildings, leasehold improvements and machinery and equipment with carrying values of $3.9 million in excess of related estimated fair values. The Company expects to incur approximately $25 million of additional restructuring costs related to activities initiated as of December 31, 2015, and expects that the components of such costs will be consistent with its historical experience. Any future restructuring actions will depend upon market conditions, customer actions and other factors.

A summary of 2015 activity, excluding the pension benefit plan curtailment loss of $7.7 million, is shown below (in millions):



	Accrual as of		2015		Utilization						Accrual as of
	January 1, 2015		Charges		Cash			Non-cash			December 31, 2015
Employee termination benefits	$	45.1	$	70.0	$	(48.6	)	$	—		$	66.5
Asset impairments	—		3.9		—			(3.9		)	—
Contract termination costs	5.1		1.7		(1.5		)	—			5.3
Other related costs	—		5.5		(3.5		)	(2.0		)	—
Total	$	50.2	$	81.1	$	(53.6	)	$	(5.9	)	$	71.8

In 2014, the Company recorded charges of $107.0 million in connection with its restructuring actions. These charges consist of $86.8 million recorded as cost of sales, $19.2 million recorded as selling, general and administrative expenses and $1.0 million recorded as other expense, net. The restructuring charges consist of employee termination benefits of $88.6 million, asset impairment charges of $0.5 million and contract termination costs of $0.5 million, as well as other related costs of $17.4 million. Employee termination benefits were recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Asset impairment charges relate to the disposal of buildings, leasehold improvements and machinery and equipment with carrying values of $0.5 million in excess of related estimated fair values.

A summary of 2014 activity is shown below (in millions):



	Accrual as of		2014		Utilization						Accrual as of
	January 1, 2014		Charges		Cash			Non-cash			December 31, 2014
Employee termination benefits	$	38.7	$	88.6	$	(82.2	)	$	—		$	45.1
Asset impairments	—		0.5		—			(0.5		)	—
Contract termination costs	5.6		0.5		(1.0		)	—			5.1
Other related costs	—		17.4		(17.4		)	—			—
Total	$	44.3	$	107.0	$	(100.6	)	$	(0.5	)	$	50.2

In 2013, the Company recorded charges of $77.9 million in connection with its restructuring actions. These charges consist of $52.6 million recorded as cost of sales and $25.3 million recorded as selling, general and administrative expenses. The restructuring charges consist of employee termination benefits of $54.1 million, asset impairment charges of $9.2 million and contract termination costs of $2.8 million, as well as other related costs of $11.8 million. Employee termination benefits were recorded based on existing union and employee contracts, statutory requirements, completed negotiations and Company policy. Asset impairment charges relate to the disposal of buildings, leasehold improvements and machinery and equipment with carrying values of $9.2 million in excess of related estimated fair values. Contract termination costs include a pension benefit plan settlement loss of $2.5 million and other various costs of $0.3 million.

A summary of 2013 activity, excluding the pension benefit plan settlement loss of $2.5 million, is shown below (in millions):



	Accrual as of		2013		Utilization						Accrual as of
	January 1, 2013		Charges		Cash			Non-cash			December 31, 2013
Employee termination benefits	$	38.5	$	54.1	$	(53.9	)	$	—		$	38.7
Asset impairments	—		9.2		—			(9.2		)	—
Contract termination costs	5.7		0.3		(0.4		)	—			5.6
Other related costs	—		11.8		(11.8		)	—			—
Total	$	44.2	$	75.4	$	(66.1	)	$	(9.2	)	$	44.3