11. Restructuring

On October 29, 2007, the Company announced a restructuring initiative to improve manufacturing efficiency and cost position by ceasing manufacturing operations at its Mitcheldean, United Kingdom (Electronics reportable segment) location. During 2008 and 2009, in response to the depressed conditions in the European commercial and automotive vehicle markets, the Company continued and expanded the restructuring initiatives in the Electronics reportable segment. In 2010, the Company continued restructuring initiatives within the Electronics reportable segment and recorded amounts related to its terminated property lease in Mitcheldean, United Kingdom. During the third quarter of 2012, the Company finalized a settlement agreement to modify the terms of and the obligation associated with the property consistent with previous estimates.

In connection with the Electronics segment restructuring initiative, the Company recorded lease related restructuring charges during the years ended December 31, 2014, 2013 and 2012 of $494, $469 and $256, respectively, as part of selling, general and administrative expense. At December 31, 2014 and 2013, the only remaining restructuring related accrual relates to the terminated property lease in Mitcheldean, United Kingdom, for which the Company has accrued $733 and $780, respectively, on the consolidated balance sheets of which $402 and $427, respectively, is a component of other long-term liabilities.

The expenses related to the restructuring activities that belong to the Electronics reportable segment include the following:



		2014		2013		2012
Accrued balance at January 1	$	780	$	765	$	1,920
Charge to expense		494		469		256
Foreign currency translation		(45)		24		172
Cash payments		(496)		(478)		(1,583)
Accrued balance at December 31	$	733	$	780	$	765

There were no significant restructuring expenses related to the Control Devices reportable segment during the years ended December 31, 2014, 2013 or 2012.

In response to a change in customer demand, the PST segment incurred and paid business realignment charges of $1,578 for the year ended December 31, 2014, of which $847 was recorded in cost of goods sold, $559 in selling, general and administrative expenses and the remainder in design and development costs. The charges consist primarily of severance costs related to workforce reductions. There were no restructuring expenses related to the PST segment during the year ended December 31, 2013. Business realignment charges were $1,646 for the year ended December 31, 2012, of which $729 was recorded in cost of goods sold, $579 in selling, general and administrative expenses and the remainder in design and development costs.