Note 14. Restructuring and Impairment Charges

Below is a summary of the Wheeling plant impairment and restructuring charges in the Condensed Consolidated Statement of Net Income and Comprehensive Income (Loss) for the three and six months ended June 30, 2016 and 2015 and Condensed Consolidated Balance Sheet as of June 30, 2016 and December 31, 2015:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Impairment of tangible assets	$	328	$	—	$	361	$	—
Restructuring charges and contract costs		1,749		—		3,275		—

Restructuring and impairment charges	$	2,077	$	—	$	3,636	$	—


	Reserve Balance at December 31, 2015		Charges		Paid in 2016			Reserve Balance at June 30 2016
Severance and other employee costs	$	445	$	869	$	(1,298	)	$	16
Site closure and other associated cost		1,845		2,767		(2,753	)		1,859

Total	$	2,290	$	3,636	$	(4,051	)	$	1,875

For the three and six months ended June 30, 2016, the total restructuring and impairment charges of $4.0 million and $6.6 million, respectively, noted in the Statement of Net Income, includes the Wheeling plant closure restructuring and impairment charges amount of $3.6 million in the above.

Impairments of Tangible Assets and Restructuring Activity

On November 5, 2015, we announced the closure of our Wheeling plant, which is included in the Autocam Precision Components Group. A portion of the sales and productive assets will be relocated to existing plants within the Autocam Precision Components Group. During the three and six months ended June 30, 2016, we accrued a restructuring charge of approximately $1.7 million and $3.3 million related to severance and employees, and $0.3 and $0.4 million in impairments related to assets and inventory at the Wheeling Plant. The premises were vacated during the second quarter of 2016.