XML 33 R17.htm IDEA: XBRL DOCUMENT v3.20.1
Restructuring and Impairment Activities
 3 Months Ended
Mar. 31, 2020
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Activities Restructuring and Impairment Activities
 
The Company incurred restructuring and impairment expense of $0.1 million and $0.0 million for the three months ended March 31, 2020 and 2019, respectively in the EP segment. In the three months ended March 31, 2020, restructuring and impairment expense consisted of $0.1 million for severance accruals for employees at our manufacturing facilities in Brazil, Poland, and the U.S.

Restructuring liabilities were classified within Accrued expenses and other current liabilities in each of the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019. Changes in the restructuring liabilities, substantially all of which are employee-related, during the periods ended March 31, 2020 and December 31, 2019 are summarized as follows ($ in millions):
 
Three Months Ended
 
Year Ended
 
March 31,
2020
 
December 31,
2019
Balance at beginning of year
$
0.5

 
$
1.4

Accruals for announced programs
0.1

 
3.7

Cash payments
(0.3
)
 
(4.2
)
Other
—

 
(0.4
)
Balance at end of period
$
0.3

 
$
0.5



Long-lived assets to be sold are classified as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the assets; the assets are available for immediate sale in present condition subject only to terms that are usual and customary for sales of such assets; an active program to locate a buyer and other actions required to complete the plan to sell the assets have been initiated; the sale of the assets is probable, and transfer of the assets is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond our control extend the period of time required to sell the assets beyond one year; the assets are being actively marketed for sale at a price that is reasonable in relation to current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

A long-lived asset that is classified as held for sale is initially measured at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale
criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset until the date of sale. The fair value of a long-lived asset less any costs to sell is assessed each reporting period it remains classified as held for sale and any reduction in fair value is reported as an adjustment to the carrying value of the asset. Upon being classified as held for sale, depreciation is ceased. Long-lived assets to be disposed of other than by sale continue to be depreciated. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, the assets and liabilities of the disposal group, if material, are reported in the line item Assets held for sale in our condensed consolidated balance sheets.

In early 2015, the Company made the decision to dispose of the Company's mothballed RTL facility and related equipment in the Philippines. These assets were included in the EP segment. The legal entity and its related assets were sold on December 18, 2019 for total consideration of $13.3 million, and the Company recorded a net gain of $0.3 million.