6. Restructuring, Impairment and Other Charges

Restructuring, Impairment and Other Charges Recognized in Results of Operations

For the three months ended March 31, 2016 and 2015, the Company recorded the following net restructuring, impairment and other charges:

Three Months Ended	Employee		Other Restructuring		Total Restructuring					Other
March 31, 2016	Terminations		Charges		Charges		Impairment			Charges		Total
Publishing and Retail Services	$	0.6	$	1.0	$	1.6	$	1.0		$	0.8	$	3.4
Variable Print		0.2		0.9		1.1		(0.3	)		0.4		1.2
Strategic Services		0.3		0.5		0.8		—			0.2		1.0
International		3.7		1.5		5.2		(2.7	)		—		2.5
Corporate		0.2		0.2		0.4		1.2			—		1.6
Total	$	5.0	$	4.1	$	9.1	$	(0.8	)	$	1.4	$	9.7

Three Months Ended	Employee		Other Restructuring		Total Restructuring					Other
March 31, 2015	Terminations		Charges		Charges		Impairment			Charges		Total
Publishing and Retail Services	$	2.8	$	1.1	$	3.9	$	(0.4	)	$	0.8	$	4.3
Variable Print		2.0		1.3		3.3		1.3			0.4		5.0
Strategic Services		1.6		0.5		2.1		—			0.1		2.2
International		7.7		0.2		7.9		(0.2	)		—		7.7
Corporate		0.1		0.5		0.6		—			—		0.6
Total	$	14.2	$	3.6	$	17.8	$	0.7		$	1.3	$	19.8

Restructuring and Impairment Charges

For the three months ended March 31, 2016, the Company recorded net restructuring charges of $5.0 million for employee termination costs for 353 employees, of whom 350 were terminated as of March 31, 2016. These charges primarily related to the announcement of two facility closures in the International segment and the reorganization of certain operations. Additionally, for the three months ended March 31, 2016, the Company recorded $4.1 million of lease termination and other restructuring charges and $0.8 million of income primarily related to the gains on sales of previously impaired long-lived assets.

For the three months ended March 31, 2015, the Company recorded net restructuring charges of $14.2 million for employee termination costs for 894 employees, all of whom were terminated as of March 31, 2016. These charges primarily related to one facility closure in the International segment, one facility closure in the Variable Print segment and the reorganization of certain operations. Additionally, for the three months ended March 31, 2015, the Company recorded lease termination and other restructuring charges of $3.6 million and net impairment charges of $0.7 million primarily related to buildings and machinery and equipment associated with facility closures.

Other Charges

For the three months ended March 31, 2016 and 2015, the Company recorded other charges of $1.4 million and $1.3 million, respectively, for multi-employer pension plan withdrawal obligations unrelated to facility closures. The total liabilities for the withdrawal obligations associated with the Company’s decision to withdraw from certain multi-employer pension plans included in accrued liabilities and other noncurrent liabilities are $10.9 million and $81.1 million, respectively, as of March 31, 2016.

The Company’s withdrawal liabilities could be affected by the financial stability of other employers participating in the plans and any decisions by those employers to withdraw from the plans in the future. While it is not possible to quantify the potential impact of future events or circumstances, reductions in other employers’ participation in multi-employer pension plans, including certain plans from which the Company has previously withdrawn, could have a material impact on the Company’s previously estimated withdrawal liabilities, consolidated results of operations, financial position or cash flows.

As a result of the acquisition of Courier, the Company participates in two multi-employer pension plans, for one of which the Company’s contributions are approximately 85% of the total plan contributions. Both plans are estimated to be underfunded and have a Pension Protection Act zone status of critical (“red”). Red status identifies plans that are less than 65% funded.

Restructuring Reserve

The restructuring reserve as of December 31, 2015 and March 31, 2016, and changes during the three months ended March 31, 2016, were as follows:

					Foreign
	December 31,		Restructuring		Exchange and			Cash			March 31,
	2015		Charges		Other			Paid			2016
Employee terminations	$	20.2	$	5.0	$	(0.1	)	$	(16.8	)	$	8.3
Multi-employer pension withdrawal obligations		32.9		0.5		—			(1.2	)		32.2
Lease terminations and other		10.6		3.6		—			(4.6	)		9.6
Total	$	63.7	$	9.1	$	(0.1	)	$	(22.6	)	$	50.1

The current portion of restructuring reserves of $16.3 million at March 31, 2016 was included in accrued liabilities, while the long-term portion of $33.8 million, primarily related to multi-employer pension plan withdrawal obligations related to facility closures and lease termination costs, was included in other noncurrent liabilities at March 31, 2016.

The Company anticipates that payments associated with the employee terminations reflected in the above table will be substantially completed by March 2017.

Payments on all of the Company’s multi-employer pension plan withdrawal obligations are scheduled to be completed by 2034. Changes based on uncertainties in these estimated withdrawal obligations could affect the ultimate charges related to multi-employer pension plan withdrawals.

The restructuring liabilities classified as “lease terminations and other” consisted of lease terminations and other facility closing costs. Payments on certain of the lease obligations are scheduled to continue until 2026. Market conditions and the Company’s ability to sublease these properties could affect the ultimate charges related to the lease obligations. Any potential recoveries or additional charges could affect amounts reported in the Company’s financial statements.