RESTRUCTURING AND OTHER CHARGES

3 Months Ended

Mar. 31, 2017

Restructuring and Related Activities [Abstract]

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 demand for its products.

Restructuring

During 2016, the Company established restructuring programs in its Cranes segment to transfer production between existing facilities and close certain facilities in order to maximize labor efficiencies and reduce overhead costs, and incurred $77.0 million of expense in 2016 and 2017. The programs are expected to cost $78.9 million, result in the reduction of approximately 1,260 team members and expected to be completed in 2018.

The following table provides information for all restructuring activities by segment of the amount of expense incurred during the three months ended March 31, 2017, the cumulative amount of expenses incurred since inception of the programs through March 31, 2017, and the total amount expected to be incurred (in millions):



	Amount incurred during the three months ended March 31, 2017		Cumulative amount incurred through March 31, 2017		Total amount expected to be incurred
AWP	$	—	$	0.3	$	0.3
Cranes	—		77.0		78.9
Corp & Other	—		1.6		1.6
Total	$	—	$	78.9	$	80.8

The following table provides information by type of restructuring activity with respect to the amount of expense incurred during the three months ended March 31, 2017, 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 during the three months ended March 31, 2017	$	—	$	—	$	—	$	—
Cumulative amount incurred through March 31, 2017	$	59.7	$	1.7	$	17.5	$	78.9
Total amount expected to be incurred	$	60.4	$	2.5	$	17.9	$	80.8

During the three months ended March 31, 2017, restructuring charges/(reductions) of $(0.6) million and $0.6 million, were included in Cost of Goods Sold (“COGS) and Selling, general and administrative expenses (“SG&A”), respectively. During the three months ended March 31, 2016 there were no restructuring amounts included in COGS or SG&A.

The following table provides a roll forward of the restructuring reserve by type of restructuring activity for the three months ended March 31, 2017 (in millions):



	Employee Termination Costs			Total
Restructuring reserve at December 31, 2016	$	56.8		$	56.8
Restructuring reserve increase (decrease)	(0.2		)	(0.2		)
Cash expenditures	(3.9		)	(3.9		)
Foreign exchange	0.8			0.8
Restructuring reserve at March 31, 2017	$	53.5		$	53.5

Other

During the first three months of 2017, the Company recorded $0.1 million and $2.1 million as a component of COGS and SG&A, respectively, for severance charges for structural cost reduction actions across all segments and corporate functions. During the first three months of 2016, the Company recorded $2.8 million and $9.6 million as a component of COGS and SG&A, respectively, for severance charges for structural cost reduction actions across all segments and corporate functions.