RESTRUCTURING ACTIONS RESTRUCTURING ACTIONS

3 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

The table below summarizes the restructuring costs presented within general and administrative expenses in our Consolidated Condensed Income Statements for the three months ended March 31, 2014 and 2013.



For the Three Months Ended March 31	2014		2013
Severance costs	$	15.3	$	5.4
Other restructuring costs	—		0.1
Total restructuring costs	$	15.3	$	5.5
By segment:
Industrial Process	$	0.9	$	0.4
Motion Technologies	—		0.4
Interconnect Solutions	14.4		4.4
Control Technologies	—		—
Corporate and Other	—		0.3

The following table displays a rollforward of the restructuring accruals, presented on our Consolidated Condensed Balance Sheet within accrued liabilities, for the three months ended March 31, 2014 and 2013.



For the Three Months Ended March 31	2014			2013
Restructuring accruals - 1/1	$	14.7		$	7.8
Restructuring costs	15.3			5.5
Cash payments	(5.8		)	(5.4		)
Foreign exchange translation and other	(0.1		)	(0.2		)
Restructuring accrual - 3/31	$	24.1		$	7.7
By accrual type:
Severance accrual	$	22.7		$	7.7
Facility carrying and other costs accrual	1.4			—

Interconnect Solutions Turnaround Activities

In 2013, we initiated a comprehensive restructuring plan to improve the overall cost structure of our Interconnect Solutions (ICS) segment. The costs incurred during the three months ended March 31, 2014 of $14.4 primarily relate to employee severance for approximately 250 planned headcount reductions associated with an action to move certain production lines from one location to another existing lower cost manufacturing site. We expect to incur further restructuring costs of approximately $5.0 over the next twelve months related to this action. The costs incurred during the three months ending March 31, 2013 of $4.4 primarily related to 63 headcount reductions across our global operating locations. To date, we have incurred $32.5 under the ICS turnaround plan. The following table provides a rollforward of the restructuring accrual associated with the ICS turnaround activities.



For the Three Months Ended March 31	2014
Restructuring accruals - 1/1	$	8.0
Restructuring costs	14.4
Cash payments	(4.1		)
Restructuring accruals - 3/31	$	18.3

- 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.

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