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Restructuring
9 Months Ended
Sep. 30, 2014
Restructuring  
Restructuring

 

15.Restructuring

 

We incurred restructuring expense of $1.8 and $0.2 million during the nine months ended September 30, 2014 and 2013, respectively, the majority of which related to severances and other related expenses. We incurred no restructuring expense during the three months ended September 30, 2014 and 2013. In addition, we recorded $0.4 million during the nine months ended September 30, 2013 for cancellation of outstanding stock options for certain terminated employees, which was recorded as reduction to Payable to Parent in the Consolidated Balance Sheets. The restructuring expense impact was recorded under the Corporate and Unallocated segment. As of December 31, 2013, we had $0.3 million of restructuring liability. For the nine months ended September 30, 2014, $1.5 million in restructuring charges was paid. An additional provision of $1.8 million was recorded in the first three quarters of 2014 for new severance arrangements and the remaining liability of $0.6 million as of September 30, 2014 is expected to be paid out by the end of the third quarter of 2015 and is included in the Other accrued expenses in the Consolidated Balance Sheets. As of December 31, 2012, we had $4.8 million of restructuring liability. For the nine months ended September 30, 2013, we incurred restructuring expense of $0.2 million and $4.2 million in restructuring charges was paid and the remaining $0.8 was a liability as of September 30, 2013.