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Restructuring Activities | 6 Months Ended
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Jun. 30, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Activities | Restructuring Activities Organizational Alignment In December 2017, in conjunction with the Divestiture (see Note 2, “Discontinued Operations”), we initiated the first phase of a multi-year restructuring plan (the “Plan”). The initial phase of the Plan is intended to align our organizational and management structure with our remaining Medical Devices business. We expect to incur between $8 million and $10 million of pre-tax costs, of which $6 million to $7 million is for employee severance and benefits and the remainder for third-party services and other related costs. These are cash costs that will be incurred as we execute the Plan, which we expect to substantially complete by the end of 2019. Program-to-date, we have incurred $9.8 million of expenses, of which $3.5 million and $4.5 million, primarily for consulting services, were incurred in the three and six months ended June 30, 2018, respectively, and are included in “Selling and general expenses” in the accompanying condensed consolidated income statement. We have a liability associated with employee severance and benefits related to the organizational alignment phase of the Plan. The following table summarizes the accrual and payment activity (in millions):
| Accrual
Balance, December 31, 2017 | $ | 5.4 |
Charges and adjustments, net | 0.9 |
Payments | (1.5 | )
Balance, June 30, 2018 | $ | 4.8 |
Information Technology Systems The sale price the Company received upon closing the Divestiture included the sale of the Company’s IT systems. The sale of the IT systems enables the Company to migrate to an IT platform that is more appropriate for its business and size. Accordingly, in March 2018, we launched the phase of the Plan to restructure and enhance the Company’s IT systems (the “ITS Plan”). The Company expects to incur between $40 million and $50 million to implement the ITS Plan, of which $30 million to $35 million is expected to qualify for capitalization and the remainder, primarily consulting and other costs, will be expensed as incurred. The Company expects to substantially complete the ITS Plan by the end of 2019. We have incurred $0.5 million and $2.3 million of costs related to the ITS Plan in the three and six months ended June 30, 2018 which are included in “Selling and general expenses” in the accompanying condensed consolidated income statement. In addition, as of June 30, 2018, we have capitalized $10.7 million of costs under the ITS Plan that are included in “Property, Plant and Equipment, net” in the accompanying condensed consolidated balance sheet.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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