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Reorganization and Restructuring
 12 Months Ended
Dec. 31, 2015
Restructuring and Related Activities [Abstract]  
Reorganization and Restructuring
Reorganization and Restructuring

2015 Reorganization and Restructuring
Brink's initiated a global restructuring of its business in the third quarter of 2015. We recognized $11.6 million in 2015 costs related to employee severance, contract terminations and property impairment associated with the restructuring. The 2015 Reorganization and Restructuring is expected to reduce the global workforce by approximately 1,000 to 1,200 positions and is projected to result in $25 to $35 million in cost savings in 2016.

The following table summarizes the costs incurred and payments and utilization of our 2015 Reorganization and Restructuring accruals:
(In millions)
Severance Costs
 
Contract Terminations
 
Impairments
 
Total
 
 
 
 
 
 
 
 
Balance as of January 1, 2015
$
—

 
—

 
—

 
—

Expense
9.8

 
1.6

 
0.2

 
11.6

Payments and utilization
(3.5
)
 
(1.6
)
 
(0.2
)
 
(5.3
)
Foreign currency exchange effects
—

 
—

 
—

 
—

Balance as of December 31, 2015
$
6.3

 
—

 
—

 
6.3



2014 Reorganization and Restructuring
In the fourth quarter of 2014, we announced a reorganization and restructuring of Brink’s global organization (“2014 Reorganization and Restructuring”) to accelerate the execution of our strategy by reducing costs and providing for a more streamlined and centralized organization. As part of this program, we reduced our total workforce by approximately 1,700 positions. The restructuring saved annual direct costs of approximately $50 million in 2015 compared to 2014, excluding charges for severance, lease termination and accelerated depreciation. We recorded total pretax charges of $21.8 million in 2014 and an additional $1.9 million of pretax charges in 2015 related to the 2014 Reorganization and Restructuring. The actions under this program were substantially completed by the end of 2015 with cumulative pretax charges estimated to be approximately $24 million, primarily severance costs.

The following table summarizes the costs incurred and payments made in our 2014 Reorganization and Restructuring accruals:
(In millions)
Severance Costs
 
Lease Terminations
 
Total
 
 
 
 
 
 
Balance as of January 1, 2014
$
—

 
—

 
—

Expenses
21.8

 
—

 
21.8

Payments
(0.3
)
 
—

 
(0.3
)
Foreign currency exchange effects
(0.1
)
 
—

 
(0.1
)
Balance as of December 31, 2014
$
21.4

 
—

 
21.4

Expense (benefit)
(0.4
)
 
2.3

 
1.9

Payments and utilization
(19.0
)
 
(1.9
)
 
(20.9
)
Foreign currency exchange effects
(1.1
)
 
—

 
(1.1
)
Balance as of December 31, 2015
$
0.9

 
0.4

 
1.3



Executive Leadership and Board of Directors Restructuring
In the fourth quarter of 2015, we recognized $1.8 million in costs related to the restructuring of executive leadership and Board of Directors, which was announced in January 2016. The majority of these charges will be paid in cash in 2016. The restructuring actions include the departure of our CEO in 2016 and the retirement of two Board members in January 2016.

We expect to recognize an additional $5 to $10 million in costs in 2016 related to the 2015 Reorganization and Restructuring and the Executive Leadership and Board of Directors Restructuring.