RESTRUCTURING

During the third quarter of 2015, the Company approved a plan to implement a business productivity program referred to as “Fuel for Growth,” which is expected to be implemented over a three-year period. Fuel for Growth is designed to improve operating efficiencies and reduce costs. Fuel for Growth is expected to improve profitability and create additional investments behind brand building and growth initiatives. Fuel for Growth focuses on the optimization of resources within various operating functions and certain third party costs across the business.

A summary of restructuring charges recognized within other (income)/expenses - net during the three months ended March 31, 2017 and 2016 and related reserves associated with Fuel for Growth as of March 31, 2017 is as follows:



Restructuring Charges	Three Months Ended
(Dollars in millions)	March 31, 2017		March 31, 2016
Severance and Employee Benefits	$	7.9	$	8.2
Asset Write-off	—		0.3
Other Costs	2.0		0.6
	$	9.9	$	9.1



Restructuring Reserves	Severance and Employee Benefits ⁽¹⁾			Contract Termination ⁽²⁾			Other Costs ⁽³⁾			Total
(Dollars in millions)
Balance as of January 1, 2017	$	14.2		$	10.3		$	3.0		$	27.5
Charges	7.9			—			2.0			9.9
Cash Payments	(6.3		)	(3.5		)	(0.3		)	(10.1		)
Balance as of March 31, 2017	$	15.8		$	6.8		$	4.7		$	27.3

Balance as of January 1, 2016	$	9.5		$	10.3		$	—		$	19.8
Charges	8.2			—			0.6			8.8
Cash Payments	(6.9		)	—			(0.6		)	(7.5		)
Balance as of March 31, 2016	$	10.8		$	10.3		$	—		$	21.1

⁽¹⁾Included in accrued expenses on the balance sheet.

⁽²⁾Included in accrued expenses and other liabilities on the balance sheet.

⁽³⁾Included in accounts payable on the balance sheet.

Restructuring charges are included in Corporate and Other. Reserves related to severance and employee benefits and other costs will be paid out during the next twelve months. The contract termination costs will be paid over a period from 2017 to 2019.