Restructuring Charges Restructuring Charges

3 Months Ended

Mar. 31, 2013

Restructuring and Related Activities [Abstract]

As part of the Company's efforts to adapt operations to market conditions, restructuring activities were announced during January of 2013. The charges associated with the restructuring activities are included in the Company's Metals segment.

The charges incurred during the first quarter of 2013 were comprised of one-time employee termination benefits associated with salaried and hourly workforce reductions, moving costs and other exit costs associated with five plant consolidations.

Below is a summary of the total estimated charges to be incurred by each major type of cost associated with the restructuring activities and the charges incurred in the period:



	Total Estimated Charges		Charges incurred during the three months ended March 31, 2013
One-time employee termination benefits	$	3,500	$	1,398
Lease termination costs	2,500		—
Moving costs associated with plant consolidations	1,600		859
Other exit costs	2,400		725
Total	$	10,000	$	2,982

Approximately $7,000 of additional charges are expected to be incurred primarily during the second quarter of 2013.

The restructuring reserve activity for the three months ended March 31, 2013 is summarized below:



			Period Activity
	Balance as of January 1		Charges ^(a)		Cash payments			Impairment			Balance as of March 31 ^(b)
One-time employee termination benefits	$	—	$	1,398	$	(504	)				$	894
Moving costs associated with plant consolidations	—		859		(859		)				—
Other exit costs	—		42		(42		)				—
Inventory write-offs	—		683					(683		)	—
Total	$	—	$	2,982	$	(1,405	)	$	(683	)	$	894

^(a)Costs associated with the write-off of inventory are included in cost of materials in the condensed consolidated statements of operations and comprehensive loss.

^(b)Cash payments are expected to be made during the second quarter of 2013.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details