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Impairment, Restructuring and Other Expense
12 Months Ended
Dec. 31, 2017
Restructuring and Related Activities [Abstract]  
IMPAIRMENT, RESTRUCTURING AND OTHER EXPENSE
IMPAIRMENT, RESTRUCTURING AND OTHER EXPENSE
Impairment, restructuring and other expense were as follows:
 
Year Ended December 31,
(In millions)
2017
 
2016
 
2015
Impairment expense:
 
 
 
 
 
Subsea
$
11.5

 
$
23.0

 
$
42.9

Onshore/Offshore

 
14.6

 

Surface Technologies
10.2

 

 

Corporate and other
12.6

 
0.6

 
2.3

Total impairment expense
34.3

 
38.2

 
45.2

Restructuring and other expense:
 
 
 
 
 
Subsea
$
88.4

 
$
58.7

 
$
34.0

Onshore/Offshore
27.0

 
214.4

 
342.2

Surface Technologies
9.0

 

 

Corporate and other
32.8

 
31.7

 
16.7

Total restructuring and other expense
157.2

 
304.8

 
392.9

Total impairment, restructuring and other expense
$
191.5

 
$
343.0

 
$
438.1


Asset impairments—We conduct impairment tests on long-lived assets whenever events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition over the asset’s remaining useful life. Our review of recoverability of the carrying value of our assets considers several assumptions including the intended use and service potential of the asset.
During 2017, our impairment expense was primarily related to leasehold improvements, decommissioning vacant buildings and other long-lived assets.
During 2016 and 2015, our impairment expense was primarily associated with the restructuring plan discussed below.
Restructuring and other—In July 2015, as a result of the decline in crude oil prices and its effect on the demand for products and services in the oilfield services industry worldwide, we initiated a company-wide reduction in workforce and facility consolidation (the “July 2015 Plan”) intended to reduce costs and better align our workforce with current and anticipated activity levels, which resulted in the continued recognition of severance costs relating to termination benefits and other restructuring charges. The initial plan included a workforce reduction of approximately 6,000 employees.
A significant part of the restructuring plan was focused on the Onshore/Offshore segment. In this segment, we reduced our presence in North America, Latin America, Asia and Europe. In the Subsea segment, we reduced our presence in the North Sea.
Additionally, during 2017 we initiated further cost cutting measures that have resulted in restructuring expense primarily related to termination of lease contracts.
In the year ended December 31, 2016, as part of our restructuring plan, we divested and deconsolidated our wholly owned subsidiaries Technip Germany Holding GmBH and Technip Germany GmBH.