Management Actions

3 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]


3.	Management Actions

Q4 2013 Action - During the fourth quarter of 2013, we implemented a restructuring action. A pre-tax charge of $1,577 was recognized in the fourth quarter as a result of this action. The pre-tax charge consisted primarily of severance and was included within Selling and Administrative Expense in the Condensed Consolidated Statements of Earnings.

A reconciliation of the beginning and ending liability balances is as follows:



	Severance and Related Costs
Q4 2013 restructuring action	$	1,577
December 31, 2013 balance	$	1,577
2014 utilization:
Cash payments	(551		)
Foreign currency adjustments	—
Change in estimate	$	(16	)
March 31, 2014 balance	$	1,010

Q1 2013 Action - During the first quarter of 2013, we implemented a restructuring action. A pre-tax charge of $1,440 was recognized in the first quarter as a result of this action. The pre-tax charge consisted primarily of severance and was included within Selling and Administrative Expense in the Condensed Consolidated Statements of Earnings.

A reconciliation of the beginning and ending liability balances is as follows:



	Severance and Related Costs
Q1 2013 restructuring action	$	1,440
Cash payments	(1,110		)
Foreign currency adjustments	17
December 31, 2013 balance	$	347
2014 utilization:
Cash payments	(34		)
Foreign currency adjustments	18
March 31, 2014 balance	$	331

- 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.

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