RESTRUCTURING AND RELATED CHARGES

In prior years, we implemented restructuring actions to streamline the Company's cost structure. The purpose of these initiatives was to improve the alignment of our cost structure with the current operating environment through employment reductions, as well as rationalization and consolidation of certain manufacturing facilities. These restructuring actions were substantially completed in the first quarter of fiscal 2018 and were mainly cash expenditures.

Total restructuring and related charges since inception of $156.0 million have been recorded for these programs through December 31, 2017: $84.6 million in Industrial, $50.3 million in Infrastructure, $13.8 million in Widia and $7.3 million in Corporate.

We recorded restructuring and related charges of $1.5 million and $11.8 million for the three months ended December 31, 2017 and 2016, respectively. Of these amounts, restructuring charges were less than $0.1 million for the three months ended December 31, 2017 and totaled $8.8 million for the three months ended December 31, 2016, of which expense of $0.3 million was related to inventory and was recorded in cost of good sold. Restructuring-related charges of $1.3 million and $2.1 million were recorded in cost of goods sold and $0.2 million and $0.9 million in operating expense for the three months ended December 31, 2017 and 2016, respectively.

We recorded restructuring and related charges of $8.4 million and $43.4 million for the six months ended December 31, 2017 and 2016, respectively. Of these amounts, restructuring charges totaled $5.6 million and $37.3 million, respectively, of which expense of $0.3 million for the six months ended December 31, 2016 was related to inventory and was recorded in cost of goods sold. Restructuring-related charges of $2.5 million and $4.1 million were recorded in cost of goods sold and $0.3 million and $2.0 million in operating expense for the six months ended December 31, 2017 and 2016, respectively.

As of December 31, 2017 and June 30, 2017, property, plant, and equipment of $7.5 million and $7.0 million, respectively, for certain closed manufacturing locations that are part of our restructuring programs met held for sale criteria. We expect to sell these assets within one year from the balance sheet date. These assets are recorded at the lower of carrying amount or fair value less cost to sell. We have also ceased depreciating these assets.

As of December 31, 2017 and June 30, 2017, $15.8 million and $27.3 million of the restructuring accrual is recorded in other current liabilities and $0.7 million and $2.5 million is recorded in other liabilities, respectively, in our condensed consolidated balance sheet. The amount attributable to each segment is as follows:



(in thousands)	June 30, 2017		Expense			Asset Write-Down			Translation		Cash Expenditures			December 31, 2017
Industrial
Severance	$	17,639	$	1,618		$	—		$	820	$	(11,214	)	$	8,863
Facilities	—		2,356			(2,356		)	—		—			—
Other	94		(29		)	—			2		(28		)	39
Total Industrial	$	17,733	$	3,945		$	(2,356	)	$	822	$	(11,242	)	$	8,902

Widia
Severance	$	2,434	$	414		$	—		$	209	$	(2,865	)	$	192
Facilities	—		747			(747		)	—		—			—
Other	—		(7		)	—			1		7			1
Total Widia	$	2,434	$	1,154		$	(747	)	$	210	$	(2,858	)	$	193

Infrastructure
Severance	$	9,573	$	409		$	—		$	207	$	(2,831	)	$	7,358
Facilities	21		69			(69		)	—		(21		)	—
Other	45		(7		)	—			—		(21		)	17
Total Infrastructure	$	9,639	$	471		$	(69	)	$	207	$	(2,873	)	$	7,375
Total	$	29,806	$	5,570		$	(3,172	)	$	1,239	$	(16,973	)	$	16,470