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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2018
RESTRUCTURING |
RESTRUCTURING | NOTE 22 — RESTRUCTURING During the first quarter of 2018, the Company conducted a review of its business strategies and product plans given the outlook of the industries it serves and its business environment. As a result, the Company began to execute a restructuring plan to rationalize its facility capacity and management structure, and to consolidate and increase the efficiencies of its Abilene operations. The Company exited the CNG and Fabrication Manufacturing location in Abilene, TX in 2018 as soon as it fully complied with the requirements established as part of the NMTC Transaction agreement and consolidate these manufacturing activities into other locations. All remaining costs associated with this facility have been recorded as restructuring expenses. All costs will be incurred solely within the Process Systems segment. The Company expects that any additional costs related to the 2018 restructuring initiative will be immaterial. The Company anticipates annual cost savings going forward of approximately $575 in facility expenses related to the restructuring. The Company’s total net restructuring charges for the year ended December 31, 2018 consist of the following:
|  | Year Ended |
|  | December 31, 2018 |
Cost of sales: |  |  |  |
Facility costs |  | $ | 249 |
Moving and remediation |  |  | 33 |
Salary and severance |  |  | 17 |
Depreciation |  |  | 332 |
Total cost of sales |  |  | 631 |
Selling, general, and administrative expenses: |  |  |  |
Salary and severance |  |  | 37 |
Total selling, general, and administrative expenses |  |  | 37 |
Grand Total |  | $ | 668 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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