Restructuring and Other Exit Costs

6 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring And Other Exit Costs Disclosure [Text Block]

8. Restructuring and Other Exit Costs

Q2 2015 Restructuring Plan

During the second quarter of 2015, management of Harvard Bioscience initiated a plan to consolidate the manufacturing operations of HEKA Canada to HEKA Germany in order to create organizational efficiencies. For the three and six months ended June 30, 2015, the Company recorded restructuring charges of approximately $13,000 representing severance costs. Additional charges related to this plan are expected to be incurred through the third quarter of 2015, and include, but are not limited to, contract termination costs, as well as site moving and employee relocation costs. Payments related to this plan are expected to be made through the end of 2015. Activity and liability balances related to these charges were as follows:

		Severance Costs
		(in thousands)
Restructuring charges	$	13
Cash payments		-
Restructuring balance at June 30, 2015	$	13

Q1 2015 Restructuring Plan

During the first quarter of 2015, management of Harvard Bioscience initiated a plan to relocate certain manufacturing operations in order to create organizational efficiencies and reduce operating expenses. The 2015 restructuring plan included plans to consolidate the manufacturing operations of its Coulbourn subsidiary to its headquarters in Holliston, MA. During the six months ended June 30, 2015, the Company recorded restructuring charges of approximately $0.1 million representing severance costs. Additional charges related to this plan are expected to be incurred through the third quarter of 2015, and include, but are not limited to, contract termination costs, as well as site moving and employee relocation costs. Payments related to this plan are expected to be made through the end of 2015. Activity and liability balances related to these charges were as follows:

		Severance Costs
		(in thousands)
Restructuring charges	$	88
Non-cash reversal of restructuring charges		(6)
Cash payments		-
Restructuring balance at June 30, 2015	$	82

2014 Restructuring Plan

During the fourth quarter of 2014, management of Harvard Bioscience initiated a plan to relocate certain distribution and manufacturing operations in order to create organizational efficiencies and reduce operating expenses. The 2014 restructuring plan included plans to relocate the distribution operations of the Company’s Denville subsidiary from New Jersey to North Carolina, as well as consolidating the manufacturing operations of its Biochrom subsidiary to its headquarters in Holliston, MA. During the six months ended June 30, 2015, the Company recorded restructuring charges of approximately $16,000. Additional charges related to this plan are expected to be incurred through the third quarter of 2015, and include, but are not limited to, contract termination costs, as well as site moving and employee relocation costs. Payments related to this plan are expected to be made through the end of 2015. Activity and liability balances related to these charges were as follows:

		Severance Costs		Other		Total
		(in thousands)
Restructuring balance at December 31, 2014	$	626	$	-	$	626
Restructuring charges		39		35		74
Non-cash reversal of restructuring charges		(58)		-		(58)
Cash payments		(129)		(35)		(164)
Effect of change in currency translation		3		-		3
Restructuring balance at June 30, 2015	$	481	$	-	$	481

2013 Restructuring Plan

During the fourth quarter of 2013, the management of Harvard Bioscience initiated a plan to realign global operations to improve organizational efficiencies and reduce operating expenses throughout the Company. The plan included an approximately 13% reduction in the workforce, as well as the elimination of the position of Chief Operating Officer. No further charges are expected to be incurred on this matter. At December 31, 2014 and June 30, 2015, the Company had no remaining liability related to this plan on its balance sheet. Activity and liability balances related to these charges in 2014 were as follows:

		Severance and
		Related Costs		Other		Total
		(in thousands)
Restructuring balance at December 31, 2013	$	1,434	$	-	$	1,434
Restructuring charges		195		175		370
Non-cash reversal of restructuring charges		(115)		-		(115)
Cash payments		(1,184)		(159)		(1,343)
Restructuring balance at June 30, 2014	$	330	$	16	$	346

2012 Restructuring Plan

During 2012, the management of Harvard Bioscience initiated a plan to reduce operating expenses at one of its foreign subsidiaries. No further charges are expected to be incurred on this matter. At December 31, 2014 and June 30, 2015, the Company had no remaining liability related to this plan on its balance sheet. Activity and liability balances related to these charges in 2014 were as follows:

		Severance
		and Related Costs
		(in thousands)
Restructuring balance at December 31, 2013	$	3
Non-cash reversal of restructuring charges		(3)
Restructuring balance at June 30, 2014	$	-

Aggregate net restructuring charges for the three and six months ended June 30, 2015 and 2014 were as follows:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2015		2014		2015		2014
		(in thousands)
Restructuring charges	$	54	$	115	$	111	$	252