RESTRUCTURING AND IMPAIRMENT CHARGES


•	2015

There were no restructuring or impairment charges in 2015.


•	2014

In the fourth quarter of 2014, we recognized a $0.2 million charge related to the impairment of the investment in BrightVolt, Inc. As this investment does not specifically relate to any of our operating segments, we have allocated this impairment charge on a basis similar to other Corporate allocations. See Note 9, "Investment" for further details on this write-down.

In the fourth quarter of 2014, certain eligible participants in the defined benefit pension plans were given a lump sum payout offer. The payout of this program resulted in a settlement charge of $5.2 million.


•	2013

In 2013, we recognized approximately $10.4 million of restructuring and impairment charges. Approximately $5.7 million of these charges are related to the streamlining initiatives that began in 2012 as we incurred approximately $4.2 million in severance and related charges as a result of these activities as well as changes to the executive management team and we recognized a $1.5 million curtailment charge related to the freezing of the defined benefit pension plans. Further in 2013, we recognized a $4.6 million charge related to the impairment of the investment in Solicore, Inc. As this investment does not specifically relate to any of our operating segments, we have allocated this impairment charge on a basis similar to other Corporate allocations. See Note 9, "Investment" for further details on this write-down.

The following table summarizes the restructuring and impairment charges related to these activities recorded in our operating results in 2015, 2014 and 2013.



(Dollars in thousands)
	December 31, 2014		December 31, 2013
Cost of Sales

Elastomeric Material Solutions
Union ratification bonus	—		181
Advanced Connectivity Solutions
Union ratification bonus	—		179
Power Electronics Solutions
Union ratification bonus	—		8
Total charges for Cost of Sales	$	—	$	368

Restructuring and Impairment

Elastomeric Material Solutions
Pension settlement charge	1,332		—
Severance related to Bremen shut-down	—		1,345
Allocated Solicore impairment	42		1,617
Advanced Connectivity Solutions
Pension settlement charge	1,954		—
Allocated severance and related costs	—		802
Allocated Solicore impairment	62		1,617
Power Electronics Solutions
Pension settlement charge	1,921		—
Severance and related costs	—		3,494
Allocated Solicore impairment	61		1,155
Other
Pension settlement charge	17		—
Allocated severance and related costs	—		115
Allocated Solicore impairment	1		231
Total charges for Restructuring and Impairment	$	5,390	$	10,376