Restructuring and Related Activities

6 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

During the three and six months ended June 30, 2015, the Company recorded restructuring charges comprised of residual expenses related to the cessation of manufacturing operations at its Vienna, Austria facility that was authorized on April 1, 2014 (“Vienna action”) and the continued transfer of its capacitor business into lower-cost Asian manufacturing facilities.

During the three and six months ended June 30, 2014, the Company recorded restructuring charges of $17.1 million related to the Vienna action. This included $12.6 million related to severance pay and benefits and $4.5 million related to contract termination and other costs, of which $12.5 million were classified as Cost of goods sold and $4.6 million were classified as Operating expenses. In conjunction with this restructuring action, the Company also accelerated depreciation on fixed assets and recorded inventory charges related to product lines that were exited of $20.4 million.

In addition, the Company recorded restructuring charges during the three and six months ended June 30, 2014 related to other actions. These actions included programs to transfer the Company’s hearing health business and certain of its North American based capacitor businesses into new and existing lower-cost Asian manufacturing facilities, as well as to reduce headcount in the consumer electronics business.

The following table details restructuring charges (credits) incurred by reportable segment for the periods presented (in millions):



	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015			2014
Mobile Consumer Electronics	$	0.3	$	18.1	$	0.7		$	18.1
Specialty Components	0.5		2.6		(0.2		)	2.8
Total	$	0.8	$	20.7	$	0.5		$	20.9

The following table details the Company’s severance and other restructuring accrual activity (in millions):



	Severance Pay and Benefits			Contract Termination and Other Costs			Total
Balance at December 31, 2014	$	10.9		$	3.0		$	13.9
Restructuring charges	0.2			0.3			0.5
Payments	(4.9		)	(1.1		)	(6.0		)
Other, including foreign currency	(0.4		)	(0.2		)	(0.6		)
Balance at June 30, 2015	$	5.8		$	2.0		$	7.8

The severance and restructuring accruals are recorded in the following accounts on the Consolidated Balance Sheet (in millions):



	June 30, 2015		December 31, 2014
Other accrued expenses	$	7.8	$	13.0
Other liabilities	—		0.9
Total	$	7.8	$	13.9