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Restructuring and Impairment Charges | 9 Months Ended
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Sep. 30, 2016
Restructuring and Related Activities [Abstract] |
Restructuring and Impairment Charges | Note 14. Restructuring and Impairment Charges Severance and restructuring costs totaling $0.7 million and $7.2 million were recognized in the three and nine months ended September 30, 2016, comprised of initiatives impacting each of our segments. Of the amounts presented as restructuring costs for Precision Engineered Products, $0.9 million, relate primarily to integration costs. Within the Precision Bearing Components Group, restructuring initiatives to optimize operations in the U.S., Italy, the Netherlands, Mexico and at segment headquarters resulted in a charge of $2.4 million, which consisted of severance costs relating to headcount reductions. Within the Autocam Precision Components Group, certain restructuring programs, including the closure of one facility, the Wheeling Plant, resulted in a charge of $3.9 million. The following table summarizes severance and restructuring activity related to actions incurred for the three and nine months ended September 30, 2016 and 2015:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2016 |
Severance and other employee costs |  | $ | 497 |  |  | $ | 4,315 |
Site closure and other associated cost |  |  | 159 |  |  |  | 2,926 |
Restructuring and impairment charges |  | $ | 656 |  |  | $ | 7,241 |
|  | Reserve |  |  |  |  |  |  |  |  | Reserve |
|  | Balance at |  |  |  |  |  | Paid in |  |  | Balance at |
|  | December 31, 2015 |  |  | Charges |  |  | 2016 |  |  | September 30 2016 |
Severance and other employee costs |  | $ | 2,464 |  |  | $ | 4,315 |  |  | $ | (4,145 | ) |  | $ | 2,634 |
Site closure and other associated cost |  |  | 1,845 |  |  |  | 2,926 |  |  |  | (3,519 | ) |  |  | 1,252 |
Total |  | $ | 4,309 |  |  | $ | 7,241 |  |  | $ | (7,664 | ) |  | $ | 3,886 |

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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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