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Restructuring and Related Charges
3 Months Ended
Mar. 31, 2015
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges

NOTE 5—RESTRUCTURING AND RELATED CHARGES

 

(a) GridSense®

 

In 2013 and 2014, the Company’s GridSense segment restructured operations in both its U.S. and Australian entities. This action was taken primarily in order to improve efficiency based on GridSense’s revenue mix and skills mix. The restructurings included terminations of employees in both the United States and Australia and a shut-down of GridSense’s Australian offices in an effort to further reduce costs and streamline operations. GridSense continues to sell its current products in Australia and the surrounding areas through a network of distributors.

 

At December 31, 2014, $38 of the costs associated with employee severance and termination benefits charge remained unpaid. During the three months ended March 31, 2015, GridSense made no additional payments. The $38 of remaining accrued restructuring charge is expected to be paid in full by March 31, 2016. The balance is included in Other current liabilities in the Company’s condensed consolidated balance sheets.

 

(b) OmniMetrixTM

 

In 2013, OmniMetrix restructured its operations to better align expenses with revenues following a change in management. The restructuring involved employee severance and termination benefits as well as a charge for a significant reduction in the utilization of its leased facility in Buford and a write-down of a majority of the remaining book value of leasehold improvements associated with the leased facility. At December 31, 2014, $248 of lease payments associated with the reduced utilization of leased facilities remained unpaid. During the three months ended March 31, 2015, OmniMetrix paid $11 of this liability. The total remaining accrued restructuring balance of $237 is expected to be paid in full by December 31, 2019 and is included in Other current liabilities ($44) and Other liabilities ($193) in the Company’s condensed consolidated balance sheets.