Note 18—Other Charges, Net

The components of other charges, net for the years ended December 31, 2013, 2012 and 2011, were as follows (in millions):

	2013		2012			2011

Acquisition-related charges	$	3.6	$	(0.1	)	$	1.2
Transition-related charges incurred in connection with acquired businesses		—		—			3.0
Professional fees incurred in connection with internal investigation		6.1		11.1			4.3
Factory relocation charges		0.7		2.0			—
Restructuring charges		18.2		0.5			1.0
Other charges, net		—		0.4			0.2


	$	28.6	$	13.9		$	9.7

Beginning in the fourth quarter of 2012 and continuing in 2013, the Company commenced productivity improvement initiatives in both its BSI and BEST reporting segments in an effort to better optimize its operations. These restructuring initiatives include the divestiture of certain non-core businesses, outsourcing of various manufacturing activities, transferring or ceasing operations at certain facilities and an overall right-sizing within the Company based on the current business environments.

The Company recorded restructuring charges within the years ended December 31, 2013 and 2012 of $25.3 million and $0.5 million, respectively, related to these initiatives. For the year ended December 31, 2013, restructuring charges consisted of $17.9 million for severance costs, $5.3 million for exit related costs, such as professional services and facility exit charges, and $2.1 million of inventory provisions for excess inventory. Of the $25.3 million recorded during the year ended December 31, 2013, $23.0 million related to the BSI reporting segment and $2.3 million related to the BEST reporting segment. The Company recorded $18.2 million of the restructuring charges as a component of Other Charges, net, and $7.1 million as a component of Cost of Revenue in the condensed consolidated statements of income and comprehensive income. Based on the current status of these restructuring initiatives, the Company expects to record additional charges of approximately $4-5 million during 2014 relating to these initiatives, consisting mainly of severance costs.

The following table sets forth the changes in the restructuring reserves for the years ended December 31, 2013 and 2012 (in millions):

	Total			Severance			Exit Costs			Provisions for Excess Inventory

Balance at December 31, 2011	$	1.3		$	0.9		$	0.1		$	0.3
Restructuring charges		0.5			0.2			0.3			—
Cash payments		(0.4	)		(0.2	)		(0.1	)		(0.1	)
Non-cash adjustments		(0.2	)		—			—			(0.2	)


Balance at December 31, 2012		1.2			0.9			0.3			—
Restructuring charges		25.3			17.9			5.3			2.1
Cash payments		(15.4	)		(10.9	)		(4.5	)		—
Non-cash adjustments		(0.1	)		—			—			(0.1	)
Foreign currency impact		0.5			0.5			—			—


Balance at December 31, 2013	$	11.5		$	8.4		$	1.1		$	2.0