Restructuring (Notes)

12 Months Ended

Dec. 31, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING

On July 30, 2014, we announced the planned closure of our wheel manufacturing facility located in Rogers, Arkansas. During the fourth quarter of 2014, we shifted production to our other locations and closed operations at the Rogers facility. The closure resulted in a reduction of workforce of approximately 500 employees. The action was undertaken in order to reduce costs and enhance our global competitive position. In addition, other measures were taken to reduce costs including the sale of the company's two aircraft. One airplane was sold for cash in September 2014, incurring a $0.2 million loss on sale. The remaining airplane was classified as held-for-sale with a carrying value of $0.9 million and was included in other current assets on our consolidated balance sheet at December 31, 2014. In February 2015, this airplane was also sold.

Included in selling, general and administrative expense in the consolidated income statements for the year ended December 31, 2014 are charges totaling $1.1 million to reduce the carrying balance of the aircraft held for sale to its estimated fair value. Cost of sales for the year ended December 31, 2014 includes $5.4 million of depreciation accelerated due to shorter useful lives for assets to be retired after operations ceased at the Rogers facility. During 2015, we recorded $6.0 million of restructuring costs which related to severance, other costs and depreciation.

As noted above, the operations ceased at the Rogers facility during the fourth quarter of 2014. The property is currently held for sale. Based on the current carrying value of the land and building of $2.9 million, we do not expect a loss on sale at this time. In addition, after production ceased at the facility, machinery and equipment to be held and used at our other plants will be transferred, with the carrying values depreciating over the remaining estimated useful lives of these assets. We transferred a significant amount of assets to other facilities during 2015 and we determined that some of the assets will not ultimately be transferred. For the assets that were not transferred, we recorded a $2.7 million impairment during 2015.

The total cost expected to be incurred as a result of the Rogers facility closure is $15.6 million, of which $6.0 million and $8.4 million was recognized as of December 31, 2015 and 2014, respectively. The following table summarizes the Rogers, Arkansas plant closure costs and classification in the consolidated income statement for the year ended December 31, 2015 and 2014:

	Year Ended December 31, 2015		Year Ended December 31, 2014		Costs Remaining		Total Expected Costs		Classification
(Dollars in thousands)
Accelerated and other depreciation of assets idled	$	1,641	$	5,365	$	775	$	7,781	Cost of sales, Restructuring costs
Severance costs	114		1,897		—		2,011		Cost of sales, Restructuring costs
Equipment removal and impairment, inventory written-down, lease termination and other costs	4,257		1,167		378		5,802		Cost of sales, Restructuring costs
	$	6,012	$	8,429	$	1,153	$	15,594

Changes in the accrued expenses related to restructuring liabilities during the years ended December 31, 2015 and 2014 are summarized as follows (Dollars in thousands):

Balance December 31, 2013	$	—
Restructuring accruals - severance costs	1,897
Cash payments	(1,682		)
Balance December 31, 2014	215
Restructuring accruals - severance costs	114
Cash payments	(304		)
Balance December 31, 2015	$	25