Note 3. Restructuring

Restructuring Programs 2014 to 2016

The Company announced a restructuring program in the Industrials segment in the third quarter of 2014 and that program was revised and expanded during the second quarter of 2016. In 2016, the Company also announced restructuring programs impacting the Energy and Medical segments. These restructuring programs were substantially completed as of December 31, 2017. Through December 31, 2017, $48.0 million had been charged to expense through “Other operating expense, net” in the Condensed Consolidated Statements of Operations ($38.5 million for Industrials, $6.3 million for Energy and $3.2 million for Medical). The Company does not anticipate any material future expense related to these restructuring programs and any remaining liabilities will be paid as contractually obligated. The activity associated with these restructuring programs for the nine month period ended September 30, 2018 was not material.

The following table summarizes the activity associated with these restructuring programs for the nine month period ended September 30, 2017.

Balance as of December 31, 2016	$	20.9
Charged to expense - termination benefits		1.9
Charged to expense - other		3.0
Payments		(17.3	)
Other, net		1.0
Balance as of September 30, 2017	$	9.5

As of September 30, 2018, restructuring reserves of $1.7 million related to these programs were included in “Accrued liabilities” and restructuring reserves of $0.2 million are included in “Other liabilities” in the Condensed Consolidated Balance Sheets. As of December 31, 2017, restructuring reserves of $6.5 million related to these programs were included in “Accrued liabilities” and restructuring reserves of $0.2 million were included in “Other liabilities” in the Condensed Consolidated Balance Sheets.

Restructuring Program 2018

The Company announced a restructuring program primarily involving workforce reductions in the third quarter of 2018. In the three month period ended September 30, 2018, $5.4 million was charged to expense through “Other operating expense, net” in the Condensed Consolidated Statements of Operations ($3.7 million for Industrials and $1.7 million for Energy). The Company expects further expense charges in the fourth quarter of 2018 related to these programs impacting the Industrials, Energy and Medical segments.

The following table summarizes the activity associated with this restructuring program for the nine month period ended September 30, 2018.

Balance as of December 31, 2017	$	-
Charged to expense - termination benefits		4.9
Charged to expense - other		0.5
Payments		(1.0	)
Other, net		-
Balance as of September 30, 2018	$	4.4

As of September 30, 2018, restructuring reserves of $4.4 million are included in “Accrued liabilities” in the Condensed Consolidated Balance Sheets.