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Restructuring | 9 Months Ended
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Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring Our 2015 and 2016 Reorganization Plans (the “Plans”) were initiated October 2015 and March 2016, respectively, in conjunction with the completion of the Mergers. We initiated these plans to leverage economies of scale, streamline distribution and logistics and strengthen operational and administrative effectiveness in order to reduce overall costs. Costs associated with these plans were reported as ‘Restructuring expenses’ in our operating results in the condensed consolidated statements of income (loss). We estimate that the Plans will result in a net reduction of 326 personnel of which 292 have occurred as of September 30, 2017. In March 2017, we committed to a plan to sell our Suzhou Industrial Park facility in Shanghai, China. As a result of this exit plan we recorded an impairment of the building and equipment of $4.6 million and accrued $0.5 million of additional costs, primarily related to employee severance, during the nine months ended September 30, 2017. In addition, the remaining carrying value of the land, building and equipment was reclassified to ‘Assets held for sale’ in March 2017, with a balance of $14.1 million as of September 30, 2017, on the condensed consolidated balance sheet. The following table presents restructuring expense accrual detail (in thousands):
|  | Employee Severance and Other Termination Costs |  | Other |  | Total
Balance at December 31, 2016 |  | $ | 21,092 |  |  | $ | 3,056 |  |  | $ | 24,148 |
Charges |  | 7,126 |  |  | 4,934 |  |  | 12,060 |
Cash payments and adjustments |  | (23,804 | ) |  | (5,480 | ) |  | (29,284 | )
Balance at September 30, 2017 |  | $ | 4,414 |  |  | $ | 2,510 |  |  | $ | 6,924 |
The following table presents restructuring expense by reportable segment (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Cardiac Surgery |  | $ | 441 |  |  | $ | 916 |  |  | $ | 6,944 |  |  | $ | 5,878 |
Cardiac Rhythm Management |  | (391 | ) |  | 571 |  |  | (1,750 | ) |  | 16,592 |
Neuromodulation |  | 14 |  |  | 2,882 |  |  | 513 |  |  | 7,017 |
Other |  | 728 |  |  | 12 |  |  | 6,353 |  |  | 7,732 |
Total |  | $ | 792 |  |  | $ | 4,381 |  |  | $ | 12,060 |  |  | $ | 37,219 |

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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 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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