Restructuring Programs

3 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

In recent years, the Company has instituted restructuring programs to balance short-term profitability goals with long-term strategies. A primary objective of these programs has been to establish platforms upon which the affected businesses can grow with reduced fixed investment and generate annual operating expense savings. The restructuring programs have been instituted in response to the continuing impact of global financial and economic uncertainty on the Company’s end markets. Restructuring costs incurred in these programs were recorded in the Other income caption of the Condensed Consolidated Statements of Operations. The timing of associated cash payments is dependent on the type of restructuring cost and can extend over a multi-year period. The remaining accrual for restructuring programs was $4.6 million and $5.1 million at March 31, 2014 and December 31, 2013, respectively. The remaining accrual at March 31, 2014 relates primarily to exit activity costs for lease terminations expected to be paid over the remaining life of the leases.

- 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.

+ References+ Details