Restructuring

The following table summarizes the restructuring (gains) costs associated with repositioning and acquisition-related actions noted below:



(in millions)	(Gains)/Costs Incurred in the Nine Months Ended September 30, 2016			Total Costs Incurred Through September 30, 2016
2015 Repositioning Actions	$	—		$	8.6
Acquisition-Related Restructuring	(0.4		)	9.3
Total Restructuring	$	(0.4	)	$	17.9

2015 Repositioning Actions

The Company initiated incremental restructuring activities and recorded pre-tax restructuring charges of $8.6 million in 2015. These actions resulted in workforce reductions of approximately 125 employees, or about 1%, of the Company’s global workforce.

The following table summarizes the restructuring charges by cost type and segment:



(in millions)	Costs Incurred in the Nine Months Ended September 30, 2016		Total Costs Incurred Through September 30, 2016
Fluid Handling
Severance	$	—	$	7.9
Aerospace & Electronics
Severance	—		0.7
Total Restructuring	$	—	$	8.6

The following table summarizes the accrual balances related to these cash-related restructuring charges:



(in millions)	Balance at December 31, 2015		Expense		Utilization			Balance at September 30, 2016
Fluid Handling
Severance	$	4.1	$	—	$	(2.5	)	$	1.6
Aerospace & Electronics
Severance	0.1		$	—	—			0.1
Total Restructuring	$	4.2	$	—	$	(2.5	)	$	1.7

The Company does not expect any further significant costs associated with these actions.

Acquisition-Related Restructuring

The Company recorded total pre-tax restructuring charges of $9.3 million (a gain of $0.4 million in the first nine months of 2016, a gain of $0.6 million in 2015 and a charge of $10.3 million in 2014) related to the December 2013 acquisition of MEI within the Company’s Payment & Merchandising Technologies segment. These actions resulted in workforce reductions of approximately 240 employees, or less than 2% of the Company’s global workforce.

The following table summarizes the restructuring charges by cost type and segment:



(in millions)	(Gains)/Costs Incurred in the Nine Months Ended September 30, 2016			Total Costs/(Gains) Incurred Through September 30, 2016
Payment & Merchandising Technologies
Severance	$	(0.4	)	$	13.4
Other	—			0.2
Asset write-down	—			0.1
Pension curtailment gain	—			(4.4		)
Total Restructuring	$	(0.4	)	$	9.3

The following table summarizes the accrual balances related to these cash-related restructuring charges:



(in millions)	Balance at December 31, 2015		(Gain)/Expense		Utilization		Balance at September 30, 2016
Payment & Merchandising Technologies
Severance	$	6.3	(0.4	)	(2.7	)	$	3.2
Total Restructuring	$	6.3	(0.4	)	(2.7	)	$	3.2

The Company does not expect any further significant costs associated with these actions.