Restructuring

During the fourth quarter of 2013, the Company committed to a restructuring plan that resulted in the closure of its Precise Machine facility located in Fort Worth, Texas. As a result, the Company recognized severance expense of $453 in the year ended December 31, 2013 related to the closure. A restructuring benefit of $18 and expense of $287 were recognized by the Company in the three and nine months ended September 30, 2014. These restructuring benefits and expenses were reflected in the selling, general, and administrative section on a separate line of the Condensed Consolidated Statements of Comprehensive Income (Loss). The Company completed this restructuring plan in the second quarter of 2014.

In addition, on January 23, 2014, the Company announced plans to relocate the work performed relative to machining operations at its Savannah, Georgia facility to other locations within the company. As a result, severance expense of $0 and $47 was recognized in the three and nine months ended September 30, 2014. These restructuring expenses were reflected in the selling, general, and administrative section on a separate line of the Consolidated Statements of Comprehensive Income (Loss). The Company completed this restructuring plan in the second quarter of 2014.

In the three and nine months ended September 30, 2014, the Company recognized additional severance expense of $783 and $1,954 relative to other employment separation activities. These activities are part of the Company's overall reorganization and cost reduction initiatives. These restructuring expenses were reflected in the selling, general, and administrative section on a separate line of the Consolidated Statements of Comprehensive Income (Loss).

Cash payments were made associated with these restructuring plans of $253 and $1,441 in the three and nine months ended September 30, 2014, respectively.

The following table summarizes the incurred and expected charges associated with these restructuring activities:



	Expense		Remaining		Total Expense
	Incurred through		Expense to be		Expected to be
	September 30, 2014		Incurred		Incurred
			(In Thousands)
Employee severance arrangement - Precise closure	$	615	$	—	$	615
Employee severance arrangement - Savannah	47		—		47
Other employee severance arrangements	1,954		—		1,954
Lease termination costs - Precise closure	124		—		124
Total	$	2,740	$	—	$	2,740

In addition to the restructuring expenses detailed in the table above, the Company incurred and recognized additional project expenses of approximately $364 as of September 30, 2014, associated with the integration of work previously performed at the Precise Machine facility. The Company also incurred and recognized approximately $500 in other project costs as of September 30, 2014, largely related to accelerated depreciation on property, plant and equipment at its Savannah facility. These expenses are recognized in the cost of sales and selling, general, and administrative expense in the Consolidated Statements of Comprehensive Income (Loss).

The following table summarizes restructuring activity related to the Precise Machine facility closure, the Savannah machining relocation, and other employee separation activities:



	Employee
	Severance

Accrued restructuring balance as of December 31, 2013	$	422
Accrual additions	2,281
Cash payments	(1,441		)
Accrued restructuring balance as of September 30, 2014	$	1,262

Accrued restructuring of $1,262 at September 30, 2014 is expected to be paid over the next three quarters.