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Reorganization and Restructuring
 6 Months Ended
Jun. 30, 2016
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 and recognized $11.6 million in related 2015 costs. We recognized an additional $4.4 million in costs in the first half of 2016 related to employee severance, contract terminations, and lease terminations associated with the restructuring. The 2015 Reorganization and Restructuring is expected to reduce the global workforce by approximately 1,000 positions and is projected to result in $20 to $25 million in 2016 cost savings. At June 30, 2016, the actions under this program were substantially completed, with cumulative pretax charges of approximately $16 million.

The following table summarizes the costs incurred, payments and utilization, and foreign currency exchange effects of the 2015 Reorganization and Restructuring:
(In millions)
Severance Costs
 
Contract Terminations
 
Lease Terminations
 
Total
Balance as of January 1, 2016
$
6.3

 
—

 
—

 
6.3

Expense
2.7

 
0.2

 
1.5

 
4.4

Payments and utilization
(6.2
)
 
(0.2
)
 
(0.7
)
 
(7.1
)
Foreign currency exchange effects
0.1

 
—

 
(0.1
)
 
—

Balance as of June 30, 2016
$
2.9

 
—

 
0.7

 
3.6



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. We also recognized an additional $3.8 million in charges, primarily severance costs, in the first half of 2016. At June 30, 2016, all expenses related to these restructuring actions had been paid out in cash, including the departure of our former CEO in May 2016 and the retirement of two Board members in January 2016.

2014 Reorganization and Restructuring
In the fourth quarter of 2014, we announced a reorganization and restructuring of Brink’s global organization 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 $0.3 million of pretax charges in the first six months of 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 of approximately $24 million, primarily severance costs.