RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS

3 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

The table below summarizes the restructuring costs presented within general and administrative expenses in our Consolidated Condensed Income Statements for the three months ended March 31, 2015 and 2014.



	Three Months
For the Three Months Ended March 31	2015			2014
Severance costs	$	8.4		$	15.3
Other restructuring costs	0.9			—
Total restructuring costs	$	9.3		$	15.3
By segment:
Industrial Process	$	8.9		$	0.9
Interconnect Solutions	(0.2		)	14.4
Control Technologies	0.5			—
Corporate and Other	0.1			—

The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Condensed Balance Sheet within accrued liabilities, for the three months ended March 31, 2015 and 2014.



For the Three Months Ended March 31	2015			2014
Restructuring accruals - beginning balance	$	21.9		$	14.7
Restructuring costs	9.3			15.3
Cash payments	(6.6		)	(5.8		)
Foreign exchange translation and other	(0.4		)	(0.1		)
Restructuring accrual - ending balance	$	24.2		$	24.1
By accrual type:
Severance accrual	$	22.4		$	22.7
Facility carrying and other costs accrual	1.8			1.4

2015 Industrial Process Restructuring Actions

In March 2015, we announced a series of restructuring actions in the Company's Industrial Process business related to a strategic reorganization of the business and to achieve efficiencies and reduce the overall cost structure. The company expects to incur pre-tax cash costs, principally involuntary severance costs of approximately $13 to $14 and other non-cash pre-tax costs of approximately $4 to $5 in aggregate related to this action. The costs incurred during the three months ended March 31, 2015 primarily relate to employee severance for approximately 200 planned headcount reductions. We expect to incur the remaining restructuring costs of approximately $8 to $10 over the next 6 months related to this action. The following table provides a rollforward of the restructuring accrual associated with the 2015 Industrial Process restructuring actions.



For the Three Months Ended March 31	2015
Restructuring accruals - beginning balance	$	—
Restructuring costs	8.9
Cash payments	(1.0		)
Restructuring accruals - ending balance	$	7.9

2013–2014 Interconnect Solutions Restructuring Actions

In 2013, we initiated a comprehensive restructuring plan to improve the overall cost structure of our Interconnect Solutions (ICS) segment, including the transition of certain production lines from one location to another existing lower cost manufacturing site. During the first quarter of 2015, we reversed $0.2 of a previously estimated restructuring liability and made cash payments of $3.4, resulting in a remaining liability of $13.3 as of March 31, 2015. We do not expect to incur any additional charges related to this restructuring action.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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