RESTRUCTURING

In accordance with the applicable guidance for Nonretirement Postemployment Benefits, we accounted for termination benefits and recognized liabilities when it was considered probable that employees were entitled to termination benefits and the amounts could be reasonably estimated.

We have incurred costs in connection with involuntary termination benefits associated with our corporate-related initiatives, including our transition to a standalone entity and cost-saving opportunities associated with our Fit For Growth and Axalta Way initiatives. During the three and nine months ended September 30, 2017, we incurred restructuring costs of $6.2 million and $7.6 million, respectively. During the three and nine months ended September 30, 2016, we incurred restructuring costs of $15.6 million and $21.2 million, respectively. These amounts are recorded within selling, general and administrative expenses in the condensed consolidated statements of operations. The payments associated with these actions are expected to be substantially completed within 12 to 15 months from the balance sheet date.

The following table summarizes the activities related to the restructuring reserves and expenses from December 31, 2016 to September 30, 2017:



	2017 Activity
Balance at December 31, 2016	$	66.1
Expense recorded	7.6
Payments made	(24.2		)
Foreign currency impacts	6.2
Venezuela deconsolidation impact	(1.5		)
Balance at September 30, 2017	$	54.2

Restructuring charges incurred during the fourth quarter ended December 31, 2016 included actions to reduce operational costs through activities to rationalize our manufacturing footprint. The impact to earnings from accelerated depreciation related to these manufacturing assets for the nine months ended September 30, 2017 was $4.3 million. During the three and nine months ended September 30, 2017, we recorded impairment losses of $4.4 million and $7.6 million, respectively, associated with these manufacturing facilities based on market price estimates recorded within other expense, net.