Restructuring

The Company incurred costs associated with restructuring plans designed to streamline operations and reduce costs of $0.6 million and $0.3 million net of reversals, during the three months ended March 31, 2018 and 2017, respectively. The following is a summary of the activity in the Company’s restructuring accruals for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
(in thousands)	2018			2017
Balance at January 1,	$	227		$	1,793
Charges during the period	628			284
Cash payments during the period	(96		)	(353		)
Currency	(4		)	2
Balance at March 31,	$	755		$	1,726

The restructuring charges for the three months ended March 31, 2018 relate primarily to employee termination costs in connection with the integration of Acton and Tyson. As part of the restructuring plan, certain employees were required to render future service in order to receive their termination benefits. The termination costs associated with these employees was recognized over the period from the date of communication of termination to the employee to the actual date of termination. The Company anticipates that the remaining actions contemplated under the $0.8 million accrual as of March 31, 2018, will be substantially completed by the third quarter of 2018.

The restructuring charges for the three months ended March 31, 2017 related to corporate employee termination costs incurred as part of the Algeco Group.

Segments

The $0.6 million of restructuring charges for the three months ended March 31, 2018 all pertain to the Modular - US segment. The $0.3 million of restructuring charges for the three months ended March 31, 2017 all pertain to Corporate and other.