Restructuring, Asset Impairment, and Transition Expenses

12 Months Ended

Dec. 31, 2016

Restructuring And Related Activities [Abstract]

Restructuring, Asset Impairment, and Transition Expenses

12.    Restructuring, Asset Impairment, and Transition Expenses

From time to time, the Company will initiate various restructuring programs and incur severance and other restructuring costs.

The following table details restructuring charges incurred by segment for the periods presented:

	Years Ended December 31,
	2016		2015		2014
Couplings, Clutches & Brakes	$	7,302	$	2,527	$	444
Electromagnetic Clutches & Brakes		1,286		1,600		614
Gearing		287		3,080		603
Corporate		974		7		106
Total	$	9,849	$	7,214	$	1,767

The amounts for 2016 are comprised of approximately $2.7 million in severance, $1.7 million in consolidation costs, $2.8 million in relocation costs, $0.9 million in building impairments, and $1.7 million in other restructuring costs. The amounts for 2015 were related to approximately $5.2 million in severance and $2.0 million in building impairments, while the amounts for 2014 were limited to severance related to staff reductions and are classified in the accompanying consolidated statements of income as restructuring costs in the respective periods.

In the quarter ended September 30, 2014, the Company adopted a restructuring plan (“2014 Altra Plan”) as a result of weak demand in Europe and to make certain adjustments to its existing sales force to reflect the Company's expanding global footprint. The actions taken pursuant to the 2014 Altra Plan included reducing headcount and limiting discretionary spending to improve profitability.

In the quarter ended March 31, 2015, the Company commenced a restructuring plan (“2015 Altra Plan”) as a result of weak demand in Europe and to make certain adjustments to improve business effectiveness, reduce the number of facilities and streamline the Company's cost structure. The actions taken pursuant to the 2015 Altra Plan initially included reducing headcount, facility consolidations and related asset impairments, and limiting discretionary spending to improve profitability.

The following table is a reconciliation of the accrued restructuring costs between January 1, 2014 and December 31, 2016.

	All Plans
Balance at January 1, 2014	$	429
Restructuring expense incurred		1,767
Cash payments		(1,807	)
Balance at December 31, 2014		389
Restructuring expense incurred		7,214
Non-cash loss on impairment of fixed assets		(2,003	)
Cash payments		(3,389	)
Balance at December 31, 2015		2,211
Restructuring expense incurred		9,849
Non-cash loss on impairment of fixed assets		(1,521	)
Cash payments		(8,568	)
Balance at December 31, 2016	$	1,971

The total accrued restructuring reserve as of December 31, 2016 relates to severance costs to be paid to former employees in 2016 and is recorded in accruals and other current liabilities on the accompanying consolidated balance sheet. The Company expects to incur between approximately $1.0 million and $3.5 in additional restructuring expenses between 2017 and 2018 under the 2015 Altra Plan, primarily in the Couplings, Clutches & Brakes and Gearing business segments.