RESTRUCTURING

12 Months Ended

Dec. 31, 2016

RESTRUCTURING

NOTE 9 RESTRUCTURING

In September 2016, the Company approved a restructuring plan relating to cost management initiatives in the MIS segment as well as in certain corporate overhead functions. This restructuring plan consists solely of headcount reductions, which when combined with an immaterial restructuring in the first half of 2016, represented approximately 1% of the Company’s workforce. The entire charge for these actions will result in cash outlays that will be paid out over the next ninemonths. The cumulative amount of expense incurred from inception through December 31, 2016 for these actions was $12.0 million. Actions under these plans were substantially complete at September 30, 2016.

Total expenses included in the accompanying consolidated statements of operations are as follows:

	Year Ended December 31,
	2016		2015		2014
Restructuring	$	12.0	$	-	$	-

Changes to the restructuring liability during the first twelve months of 2016 were as follows:

	Employee Termination Costs
	Severance
Balance at January 1, 2016	$	-
Cost incurred and adjustments		12.0
Cash payments		(5.7)
Balance at December 31, 2016	$	6.3

As of December 31,2016 the remaining restructuring liability of $6.3 million relating to severance is expected to be paid out during the year ending December 31,2017. This liability is recorded within accounts payable and accrued liabilities in the Company’s consolidated balance sheet at December 31,2016.