Restructuring and Other Exit Costs

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring And Other Exit Costs Disclosure [Text Block]

7. Restructuring and Other Exit Costs

2013 Restructuring Plans

During the fourth quarter of 2013, the management of Harvard Bioscience initiated a plan to realign global operations to improve organizational efficiencies and reduce operating expenses throughout the Company. The plan included an approximately 13% reduction in the workforce, as well as the elimination of the position of Chief Operating Officer. During 2013, the Company recorded restructuring charges of approximately $2.1 million representing severance payments. Additional charges related to this plan are expected to be incurred through the fourth quarter of 2014, and include, but are not limited to, contract termination costs, as well as moving and employee relocation costs. For the three and nine months endedSeptember 30,2014, the Company recorded net restructuring charges of approximately $0.1 million and $0.3 million, respectively, representing severance and other payments. Payments related to this plan are expected to be made through the end of 2014. Activity and liability balances related to these charges were as follows:

		Severance and		Fixed Asset
		Related Costs		Write Offs		Other		Total
		(in thousands)
Restructuring charges - 2013	$	2,100	$	-	$	-	$	2,100
Cash payments		(666)		-		-		(666)
Restructuring balance at December 31, 2013		1,434		-		-		1,434
Restructuring charges		199		13		257		469
Non-cash reversal of restructuring charges		(117)		(13)		-		(130)
Cash payments		(1,447)		-		(234)		(1,681)
Restructuring balance at September 30, 2014	$	69	$	-	$	23	$	92

As part of the 2013 Restructuring Plan, the Company decided to close one of its facilities in the United Kingdom. As of September 30,2014, the facility met the criteria to be classified as an asset held-for-sale under Accounting Standards Codification (ASC 360), Property, Plant, and Equipment. The facility has been included as a current asset, at its net book value at the time it was classified as held-for-sale, in the consolidated balance sheet as it is anticipated the facility will be sold within one year of the balance sheet date.

During the third quarter of 2013, the management of Harvard Bioscience initiated a plan to reduce operating expenses at one of its foreign subsidiaries. No further charges are expected to be incurred on this matter. Activity and liability balances related to these charges were as follows:

		Severance
		and Related Costs
		(in thousands)
Restructuring charges	$	96
Cash payments		(96)
Restructuring balance at September 30, 2013	$	-

2012 Restructuring Plan

During 2012, the management of Harvard Bioscience initiated a plan to reduce operating expenses at one of its foreign subsidiaries. The Company recorded restructuring charges of approximately $0.3 million representing severance payments. No further charges are expected to be incurred on this matter.As of September 30,2014, the Company had no remaining liability related to this plan on its balance sheet. Activity and liability balances related to these charges were as follows:

		Severance
		and Related Costs		Other		Total
		(in thousands)
Restructuring charges	$	312	$	11	$	323
Cash payments		(179)		-		(179)
Restructuring balance at December 31, 2012		133		11		144
Cash payments		(84)		(11)		(95)
Non-cash reversal of restructuring charges		(46)		-		(46)
Restructuring balance at December 31, 2013		3		-		3
Non-cash reversal of restructuring charges		(3)		-		(3)
Restructuring balance at September 30, 2014	$	-	$	-	$	-

Aggregate net restructuring charges relating to the2013 Restructuring Plans and the 2012 Restructuring Plan were as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
Restructuring charges	$	97	$	96	$	349	$	51