Corporate Restructuring and Other Organizational Changes

9 Months Ended

Sep. 30, 2015

Restructuring and Related Activities [Abstract]

Corporate Restructuring and Other Organizational Changes

7. Corporate Restructuring and Other Organizational Changes

2015 Activities

During the nine months ended September 30, 2015, the Company reduced its headcount as a part of its integration of recent acquisitions. In connection with these actions, approximately $1.3 million of termination costs were recognized in general and administrative expense in the accompanying condensed consolidated statements of income during the nine months ended September 30, 2015. The charges by segment were as follows for the nine months ended September 30, 2015: $0.7 million in the Americas segment and $0.6 million in the EMEA segment. There were no restructuring termination costs recognized during the three months ended September 30, 2015. The Company paid approximately $2.7 million in restructuring severance costs during the first nine months of 2015 relating to expenses incurred in 2015 and prior. The unpaid severance liability as of September 30, 2015 totaled $1.0 million, including balances from severance events during the 12-months ended December 31, 2014. The Company expects $0.8 million of this balance to be paid over the next 12 months.

2014 Activities

During the nine months ended September 30, 2014, the Company reduced its headcount as a part of its integration of recent acquisitions. In connection with these actions, approximately $3.2 million and $6.0 million of termination costs were recognized in general and administrative expense in the accompanying condensed consolidated statements of income during the three and nine months ended September 30, 2014, respectively. The charges by segment were as follows for the three months ended September 30, 2014: $1.7 million in the Americas segment, $0.5 million in the Asia/Pacific segment, and $1.0 million in the EMEA segment. The charges by segment were as follows for the nine months ended September 30, 2014: $3.8 million in the Americas segment, $1.0 million in the Asia/Pacific segment, and $1.2 million in the EMEA segment. Approximately $6.3 million of termination costs were paid during the nine months ended September 30, 2014.

The components of corporate restructuring and other reorganization activities from the recent acquisitions are included in the following table:

(in thousands)	Severance			Facility Closures			Total
Balance, December 31, 2014	$	2,341		$	452		$	2,793
Restructuring charges incurred		1,338			—			1,338
Amounts paid during the period		(2,651	)		(138	)		(2,789	)
Foreign currency translation		(28	)		—			(28	)
Balance, September 30, 2015	$	1,000		$	314		$	1,314

Of the $1.0 million for unpaid severance, $0.8 million is included in employee compensation and the remaining $0.2 million is included in other noncurrent liabilities in the accompanying condensed consolidated balance sheet at September 30, 2015. The $0.3 million for unpaid facilities closures is included in other current liabilities in the accompanying condensed consolidated balance sheets at September 30, 2015.