Note 17—Other Charges, Net

The components of other charges, net for the years ended December 31, 2014, 2013 and 2012, were as follows (in millions):

	2014		2013		2012
Acquisition-related charges	$	2.9	$	3.6	$	(0.1	)
Professional fees incurred in connection with internal investigation		3.2		6.1		11.1
Information technology transformation costs		4.0		—		—
Restructuring charges		11.1		18.2		0.5
Factory relocation charges		—		0.7		2.0
Other charges, net		—		—		0.4

	$	21.2	$	28.6	$	13.9

Beginning in the fourth quarter of 2012 and continuing in 2013 and 2014, the Company commenced productivity improvement initiatives at both BSI and BEST 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 then current business environments.

The Company recorded total restructuring charges during the year ended December 31, 2014 and 2013 of $36.1 million and $25.3 million, respectively, related to these initiatives. For the year ended December 31, 2014, the charges were all within the BSI segment and consisted of $11.8 million of inventory provisions for excess inventory, $15.5 million of severance costs and $8.8 million of exit related costs, such as professional service and facility exit charges. For the year ended December 31, 2013, $23.0 million related to the BSI segment and $2.3 million related to the BEST segment, and consisted of $2.1 million of inventory provisions for excess inventory, $17.9 million of severance costs and $5.3 million of exit related costs. During the year ended December 31, 2014 and 2013, the Company recorded restructuring charges of $25.0 million and $7.1 million, respectively, as a component of Cost of Revenue, and $11.1 million and $18.2 million, respectively, as a component of Other Charges, net in the accompanying consolidated statements of income and comprehensive income.

Included in the total restructuring charges are expenses recorded of $17.5 million specifically related to the Plan in the former CAM division, consisting of $9.8 million for inventory write-downs and $7.7 million of severance and exit costs, of which $12.1 was recorded as a component of Cost of Revenue and $5.4 million as a component of Other Charges, net in the accompanying consolidated statement of income and comprehensive income. Restructuring charges related to the Plan were substantially completed in 2014, with only a small amount of charges related to severance anticipated in 2015.

In addition, in September and October 2014 the Company divested the assets of the former CAM division's Inductively Coupled Plasma-Mass Spectrometry (ICP-MS) product line and the Gas Chromatography (GC) and GC single-quadrupole (GC-SQ) GC-MS mass spectrometry products, respectively. The gain on sale of the product lines of $8.0 million has been recorded as part of Interest and Other Income (Expense), net within the accompanying consolidated statement of income and comprehensive income.

The following table sets forth the changes in the restructuring reserves for the years ended December 31, 2014 and 2013 (in millions):

	Total			Severance			Exit Costs			Provisions for Excess Inventory
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
Restructuring charges		36.1			15.5			8.8			11.8
Cash payments		(22.9	)		(14.6	)		(8.2	)		(0.1	)
Non-cash adjustments		(7.5	)		(1.4	)		(0.3	)		(5.8	)
Foreign currency impact		(1.1	)		(0.8	)		(0.1	)		(0.2	)

Balance at December 31, 2014	$	16.1		$	7.1		$	1.3		$	7.7