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Restructuring and Impairment Charges | 12 Months Ended
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Dec. 31, 2015
Restructuring and Related Activities [Abstract] |
Restructuring and Impairment Charges | RESTRUCTURING AND IMPAIRMENT CHARGES
• | 2015
There were no restructuring or impairment charges in 2015.
• | 2014
In the fourth quarter of 2014, we recognized a $0.2 million charge related to the impairment of the investment in BrightVolt, Inc. As this investment does not specifically relate to any of our operating segments, we have allocated this impairment charge on a basis similar to other Corporate allocations. See Note 9, "Investment" for further details on this write-down. In the fourth quarter of 2014, certain eligible participants in the defined benefit pension plans were given a lump sum payout offer. The payout of this program resulted in a settlement charge of $5.2 million.
• | 2013
In 2013, we recognized approximately $10.4 million of restructuring and impairment charges. Approximately $5.7 million of these charges are related to the streamlining initiatives that began in 2012 as we incurred approximately $4.2 million in severance and related charges as a result of these activities as well as changes to the executive management team and we recognized a $1.5 million curtailment charge related to the freezing of the defined benefit pension plans. Further in 2013, we recognized a $4.6 million charge related to the impairment of the investment in Solicore, Inc. As this investment does not specifically relate to any of our operating segments, we have allocated this impairment charge on a basis similar to other Corporate allocations. See Note 9, "Investment" for further details on this write-down. The following table summarizes the restructuring and impairment charges related to these activities recorded in our operating results in 2015, 2014 and 2013.
(Dollars in thousands) |  |  |  |
|  | December 31, 2014 |  | December 31, 2013
Cost of Sales |  |  |  |
Elastomeric Material Solutions |  |  |  |
Union ratification bonus |  | — |  |  | 181 |
Advanced Connectivity Solutions |  |  |  |
Union ratification bonus |  | — |  |  | 179 |
Power Electronics Solutions |  |  |  |
Union ratification bonus |  | — |  |  | 8 |
Total charges for Cost of Sales |  | $ | — |  |  | $ | 368 |
Restructuring and Impairment |  |  |  |  |
Elastomeric Material Solutions |  |  |  |  |
Pension settlement charge |  | 1,332 |  |  | — |
Severance related to Bremen shut-down |  | — |  |  | 1,345 |
Allocated Solicore impairment |  | 42 |  |  | 1,617 |
Advanced Connectivity Solutions |  |  |  |  |
Pension settlement charge |  | 1,954 |  |  | — |
Allocated severance and related costs |  | — |  |  | 802 |
Allocated Solicore impairment |  | 62 |  |  | 1,617 |
Power Electronics Solutions |  |  |  |  |
Pension settlement charge |  | 1,921 |  |  | — |
Severance and related costs |  | — |  |  | 3,494 |
Allocated Solicore impairment |  | 61 |  |  | 1,155 |
Other |  |  |  |  |
Pension settlement charge |  | 17 |  |  | — |
Allocated severance and related costs |  | — |  |  | 115 |
Allocated Solicore impairment |  | 1 |  |  | 231 |
Total charges for Restructuring and Impairment |  | $ | 5,390 |  |  | $ | 10,376 |

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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