Rationalization Charges

6 Months Ended

Jun. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Rationalization Charges

We continually evaluate cost reduction opportunities across each of our businesses, including rationalizations of our existing facilities through plant closings and downsizings. We use a disciplined approach to identify opportunities that generate attractive cash returns. Rationalization charges were $0.5 million and $3.0 million for the three months ended June 30, 2018 and 2017, respectively, and $1.2 million and $3.9 million for the six months ended June 30, 2018 and 2017, respectively. Under our rationalization plans, we made cash payments of $1.3 million and $2.1 million for the six months ended June 30, 2018 and 2017, respectively.

Rationalization reserves as of June 30, 2018 were recorded in our Condensed Consolidated Balance Sheets as accrued liabilities and other liabilities of $0.8 million and $1.1 million, respectively. Remaining expenses for our rationalization plans of $1.4 million are expected primarily within the next twelve months. Remaining cash expenditures for our rationalization plans of $3.3 million are expected through 2023.