13. Other Charges, net

The components of other charges, net were as follows (in millions):

	Three Months Ended March 31,
	2014		2013
Professional fees incurred in connection with internal investigation	$	2.2	$	2.2
Acquisition-related charges	0.6		0.4
Restructuring charges	0.2		3.2
Information technology transformation costs	0.6		—
Factory relocation costs	—		0.3
Other charges	$	3.6	$	6.1

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 current business environments.

The Company recorded restructuring charges within the three month period ended March 31, 2014 of $2.4 million related to these initiatives, all within BSI. For the three months ended March 31, 2014, the charges consisted of $1.4 million of severance costs and $1.0 million of exit related costs, such as professional service and facility exit charges. The Company has recorded $2.2 million of the restructuring charges as a component of Cost of Revenue and $0.2 million as a component of Other Charges, net in the condensed consolidated statement of income and comprehensive income. The Company expects to record additional charges of approximately $3-4 million during the remainder of 2014 and 2015, consisting mainly of severance costs, in connection with these initiatives.

The following table sets forth the changes in the restructuring reserves for the three months ended March 31, 2014 (in millions):

	Total		Severance		Exit Costs		Provisions for Excess Inventory
Balance at December 31, 2013	$11.5		$8.4		$1.1		$2.0
Restructuring charges	2.4		1.4		1.0		—
Cash payments	(6.5	)	(5.1	)	(1.3	)	(0.1	)
Non-cash adjustments	(0.3	)	—		(0.3	)	—
Balance at March 31, 2014	$7.1		$4.7		$0.5		$1.9