RESTRUCTURING AND OTHER CHARGES

The Company continually evaluates its cost structure to be appropriately positioned to respond to changing market conditions. From time to time the Company may initiate certain restructuring programs to better utilize its workforce and optimize facility utilization to match the demand for its products.

Restructuring

During the third quarter of 2015, the Company established a restructuring program in the MP segment to close one of its manufacturing facilities in the U.S., consolidate production with other U.S. sites and exit the hand-fed chipper line of products. By consolidating operations, the Company will optimize use of resources, eliminate areas of duplication and operate more efficiently and effectively. The program cost $0.9 million, resulted in the reduction of 38 team members and was completed in 2015.

During the third quarter of 2015, the Company established a restructuring program across multiple operating segments to centralize transaction processing and accounting functions into shared service centers. The program cost $0.9 million, resulted in the reduction of 69 team members and was completed in 2016. The segment breakdown of this program cost is as follows: Cranes ($0.8 million) and MP ($0.1 million).

During the second quarter of 2016, the Company established restructuring programs in the Cranes segment to transfer production between existing facilities in order to maximize labor efficiencies and reduce overhead costs, and incurred $16.0 million of expense. The programs are expected to cost $27.5 million, result in the reduction of approximately 250 team members and are expected to be completed in 2017.

During the second quarter of 2016, the Company incurred $7.1 million of severance expense associated with a restructuring program in Corporate to consolidate redundant facilities. The program is expected to cost $7.1 million, result in the reduction of approximately 500 team members and is expected to be completed in 2017.

The following table provides information for all restructuring activities by segment including the amount of expense incurred during the six months ended June 30, 2016, the cumulative amount of expenses incurred since inception of the programs through June 30, 2016, and the total amount expected to be incurred (in millions):



	Amount incurred during the six months ended June 30, 2016		Cumulative amount incurred through June 30, 2016		Total amount expected to be incurred
AWP	$	0.8	$	0.8	$	0.8
Cranes	16.0		16.8		27.5
MP	0.5		1.5		3.2
Corp & Other	7.1		7.1		7.1
Total	$	24.4	$	26.2	$	38.6

The following table provides information by type of restructuring activity with respect to the amount of expense incurred during the six months ended June 30, 2016, the cumulative amount of expenses incurred since inception of the programs and the total amount expected to be incurred (in millions):



	Employee Termination Costs		Facility Exit Costs		Asset Disposal and Other Costs		Total
Amount incurred in the six months ended June 30, 2016	$	22.1	$	—	$	2.3	$	24.4
Cumulative amount incurred through June 30, 2016	$	23.3	$	0.1	$	2.8	$	26.2
Total amount expected to be incurred	$	25.1	$	2.4	$	11.1	$	38.6

The following table provides a roll forward of the restructuring reserve by type of restructuring activity for the six months ended June 30, 2016 (in millions):



	Employee Termination Costs			Total
Restructuring reserve at December 31, 2015	$	0.9		$	0.9
Restructuring charges	22.1			22.1
Cash expenditures	(0.4		)	(0.4		)
Foreign exchange	(0.1		)	(0.1		)
Restructuring reserve at June 30, 2016	$	22.5		$	22.5

Other

During the first six months of 2016, the Company recorded approximately $3 million and $10 million as a component of Cost of goods sold and Selling, general and administrative expenses (“SG&A”), respectively, for severance charges for structural cost reduction actions across all segments and corporate functions.