10. Restructuring and Other Liabilities

RESTRUCTURING

Restructuring provisions are made on a case-by-case basis and primarily include severance costs incurred in connection with headcount reductions and plant consolidations. The Company expects to finance restructuring programs over the next several years through cash generated from its ongoing operations or through cash available under its existing credit facilities. The Company does not expect that the execution of these programs will have an adverse impact on its liquidity position. The majority of the Company’s restructuring activities relate to the Passive Safety segment. The changes in the employee-related reserves have been charged against Other income (expense), net in the Consolidated Statements of Net Income.

The majority of the reserve balance as of December 31, 2017 pertains to restructuring activities initiated in Western Europe in the past few years. The Company anticipates that its restructuring initiatives in Western Europe for a number of plants, none of which are individually or in the aggregate material as of December 31, 2017, will continue through dates ranging from 2018 through 2021. The total amount of costs expected to be incurred in connection with these restructuring activities ranges from approximately $10 million to $28 million for each individual activity. In the aggregate, the cost for these Western European restructuring initiatives is approximately $101 million and the remaining restructuring liability as of December 31, 2017 is approximately $35 million out of the $41.7 million total reserve balance.

2017

In 2017, the employee-related restructuring provisions, made on a case-by-case basis, related mainly to headcount reductions in high-cost countries in Western Europe and Japan. Cash payments related mainly to high-cost countries in Western Europe. The table below summarizes the change in the balance sheet position of the restructuring reserves from December 31, 2016 to December 31, 2017.

	December 31		Provision/		Provision/			Cash			Translation		December 31
	2016		Charge		Reversal			payments			difference		2017
Restructuring employee-related	$	37.1	$	33.7	$	(7.0	)	$	(27.1	)	$	4.7	$	41.4
Other		0.4		0.3		(0.4	)		—			0.0		0.3
Total reserve	$	37.5	$	34.0	$	(7.4	)	$	(27.1	)	$	4.7	$	41.7

2016

In 2016, the employee-related restructuring provisions, made on a case-by-case basis, and cash payments related mainly to headcount reductions in high-cost countries in Western Europe and Korea. The table below summarizes the change in the balance sheet position of the restructuring reserves from December 31, 2015 to December 31, 2016.

	December 31		Provision/		Provision/			Cash			Translation			December 31
	2015		Charge		Reversal			payments			difference			2016
Restructuring employee-related	$	87.7	$	26.2	$	(2.8	)	$	(73.0	)	$	(1.0	)	$	37.1
Other		0.2		0.5		—			—			(0.3	)		0.4
Total reserve	$	87.9	$	26.7	$	(2.8	)	$	(73.0	)	$	(1.3	)	$	37.5

2015

In 2015, the employee-related restructuring provisions, made on a case-by-case basis, and cash payments related mainly to headcount reductions in high-cost countries in Western Europe. The table below summarizes the change in the balance sheet position of the restructuring reserves from December 31, 2014 to December 31, 2015.

	December 31		Provision/		Provision/			Cash			Translation			December 31
	2014		Charge		Reversal			payments			difference			2015
Restructuring employee-related	$	79.6	$	82.6	$	(2.9	)	$	(63.4	)	$	(8.2	)	$	87.7
Other		0.2		0.2		—			(0.2	)		0.0			0.2
Total reserve	$	79.8	$	82.8	$	(2.9	)	$	(63.6	)	$	(8.2	)	$	87.9