Restructuring Costs

12 Months Ended

Dec. 31, 2015

Restructuring And Related Activities [Abstract]

Restructuring Costs

Note 19 - Restructuring Costs

In the second quarter of 2015, our Chemicals Segment initiated a restructuring plan designed to improve its long-term cost structure. A portion of such expected cost savings is planned to occur through workforce reductions.  During the second, third and fourth quarters of 2015 Kronos implemented certain voluntary and involuntary workforce reductions at certain of its facilities impacting approximately 160 individuals.  A substantial portion of such workforce reductions were accomplished through voluntary programs, for which eligible workforce reduction costs are recognized at the time both the employee and employer are irrevocably committed to the terms of the separation.  For involuntary programs, eligible costs are recognized when management approves the separation program, the affected employees are properly notified and the costs are estimable.  To the extent there is a statutorily-mandated notice period and the affected employee is not required to provide services to us during such notice period, severance and all wages during such notice period are accrued at the time of separation.  To the extent the affected employee is required to provide services to us during all or a portion of such notice period, the severance (and if applicable notice period wages for any period beyond the time the affected employee is required to provide future services to us) is accrued ratably over the period in which services will be provided.  As of December 31, 2015, we have recognized an aggregate $21.7 million charge for such workforce reductions Kronos had implemented through that date (substantially all of which was recognized in the second quarter of 2015), $10.8 million of which is classified in cost of sales and $10.9 million of which is classified in selling, general and administrative expense.  For workforce reductions implemented through December 31, 2015, we do not expect to accrue any further  material amounts associated with the affected individuals who are providing service to us past December 31, 2015.  All accrued severance costs at December 31, 2015 are expected to be paid through the third quarter of 2018.

A summary of the activity in our accrued workforce reduction costs during 2015 is shown in the table below:

		Amount
		(in millions)
Accrued workforce reduction costs as of January 1, 2015	$	—
Workforce reduction costs accrued		21.7
Workforce reduction costs paid		(15.9	)
Currency translation adjustments, net		(.2	)
Accrued workforce reduction costs at December 31, 2015	$	5.6
Amounts recognized in our Consolidated Balance Sheet at the end of the period:
Current liability	$	5.3
Noncurrent liability		.3
	$	5.6