Restructuring

During the fourth quarter of 2014, the company committed to a restructuring plan to reduce the cost structure of its Crane operations through site closings, consolidations, and reductions in workforce across the globe. This is further to a restructuring plan committed to in 2012 to reduce the cost structure primarily in the French crane facilities. These restructuring plans are designed to better align the company’s resources given global economic conditions.

The following is a rollforward of all restructuring activities relating to the Crane segment for the twelve-month period ended December 31, 2014 (in millions):



Restructuring Reserve Balance as of December 31, 2013		Restructuring Charges		Use of Reserve			Restructuring Reserve Balance as of December 31, 2014
$	4.3	$	6.6	$	(6.2	)	$	4.7

In conjunction with the acquisition of Enodis in October 2008, certain restructuring activities were undertaken to recognize cost synergies and rationalize the new cost structure of the Foodservice segment. The company recorded additional amounts in 2014 primarily related to employee termination benefits due to the movement of certain Ice manufacturing activities from Manitowoc, Wisconsin, to Monterrey, Mexico.

The following is a rollforward of all restructuring activities relating to the Foodservice segment for the twelve-month period ended December 31, 2014 (in millions):



Restructuring Reserve Balance as of December 31, 2013		Restructuring Charges		Use of Reserve			Restructuring Reserve Balance as of December 31, 2014
$	16.3	$	2.4	$	(3.1	)	$	15.6