Restructuring Costs

3 Months Ended

Mar. 29, 2014

3. Restructuring Costs

2013 Restructuring Plan

The Company's Papermaking Systems Segment recorded net restructuring costs of $328,000 in the first three months of 2014 related to the 2013 restructuring plan, including additional facility-related costs of $339,000, net of income from a reduction in severance and associated costs of $11,000.

A summary of the changes in accrued restructuring costs included in other current liabilities in the accompanying condensed consolidated balance sheet is as follows:

(In thousands)	Severance Costs			Other Costs			Total Costs
Balance at December 28, 2013	$	467		$	–		$	467
Provision		(11	)		339			328
Usage		(206	)		(338	)		(544	)
Currency translation		6			(1	)		5
Balance at March 29, 2014	$	256		$	–		$	256

The Company expects to pay the remaining accrued restructuring costs by the end of 2014.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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