XML 22 R25.htm IDEA: XBRL DOCUMENT v3.3.0.814
Restructuring (Tables)
 9 Months Ended
Sep. 30, 2015
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
During the quarters and nine-month periods ended September 30, 2015 and 2014, the Company recorded pre-tax expense related to the 2014 Restructuring as follows (in thousands):
 
Quarters Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
Severance and benefit related costs
$
172

 
$
—

 
$
866

 
$
—

Lease termination costs
—

 
—

 
168

 
—

Allowances for doubtful accounts
339

 
11,810

 
1,630

 
11,810

Inventory obsolescence
—

 
3,081

 
—

 
3,081

Fixed asset impairment
—

 
11,871

 
—

 
11,871

Definite-lived intangible asset impairment
—

 
10,896

 
—

 
10,896

Currency translation
44

 
—

 
864

 
—

Other restructuring costs (1)
943

 
2,295

 
7,202

 
2,295

Total pre-tax restructuring charges (2)
$
1,498

 
$
39,953

 
$
10,730

 
$
39,953

__________________________
(1) 
Includes charges related to the the write-off of certain other assets, including the loss on the sale of the CIPP contracting operation in France in February 2015, professional fees and certain other restructuring charges.
(2) 
All charges for the quarter and nine-month period ended September 30, 2015 relate to the Infrastructure Solutions reportable segment. For the quarter and nine-month period ended September 30, 2014, $22.2 million related to the Corrosion Protection reportable segment and $17.8 million related to the Infrastructure Solutions reportable segment.
The following tables summarize all charges related to the 2014 Restructuring recognized in the quarters and nine-month periods ended September 30, 2015 and 2014 as presented in their affected line in the Consolidated Statements of Operations (in thousands):
 
Quarter Ended September 30, 2015
 
Nine Months Ended September 30, 2015
 
Other
Non-Cash
Restructuring
Charges
 
Cash
Restructuring
Charges
(Reversals)(1)
 
Total
 
Other
Non-Cash
Restructuring
Charges
(Reversals)
 
Cash
Restructuring
Charges
(Reversals)(1)
 
Total
Cost of revenues
$
1,678

 
$
(17
)
 
$
1,661

 
$
1,546

 
$
1,097

 
$
2,643

Operating expenses
(829
)
 
386

 
(443
)
 
441

 
3,748

 
4,189

Restructuring charges
—

 
172

 
172

 
—

 
1,034

 
1,034

Other expense
66

 
42

 
108

 
3,004

 
(140
)
 
2,864

Total pre-tax restructuring charges (2)
$
915

 
$
583

 
$
1,498

 
$
4,991

 
$
5,739

 
$
10,730

__________________________
(1) 
Cash charges consist of charges incurred during the period that will be settled in cash, either during the current period or future periods.
(2) 
All charges for the quarter and nine-month period ended September 30, 2015 relate to the Infrastructure Solutions reportable segment.

 
Quarter Ended September 30, 2014
 
Nine Months Ended September 30, 2014
 
Other
Non-Cash
Restructuring
Charges
 
Cash
Restructuring
Charges
(Reversals)
 
Total
 
Other
Non-Cash
Restructuring
Charges
(Reversals)
 
Cash
Restructuring
Charges
(Reversals)
 
Total
Cost of revenues (1)
$
14,940

 
$
—

 
$
14,940

 
$
14,940

 
$
—

 
$
14,940

Operating expenses (2)
14,117

 
—

 
14,117

 
14,117

 
—

 
14,117

Definite-lived intangible asset impairment (3)
10,896

 
—

 
10,896

 
10,896

 
—

 
10,896

Total pre-tax restructuring charges
$
39,953

 
$
—

 
$
39,953

 
$
39,953

 
$
—

 
$
39,953

__________________________
(1) 
Includes charges of $11.3 million related to the Corrosion Protection reportable segment and $3.6 million related to the Infrastructure Solutions reportable segment for the quarter and nine-month period ended September 30, 2014.
(2) 
All charges for the quarter and nine-month period ended September 30, 2014 relate to the Infrastructure Solutions reportable segment.
(3) 
All charges for the quarter and nine-month period ended September 30, 2014 relate to the Corrosion Protection reportable segment.
Schedule of Restructuring Reserve by Type of Cost
The following table summarizes the 2014 Restructuring activity during the first nine months of 2015 (in thousands):
 
 
 
 
 
 
 
Utilized
 
 
 
Reserves at
December 31,
2014
 
Charge to Income
 
Foreign Currency Translation
 
Cash(1)
 
Non-Cash
 
Reserves at
September 30,
2015
Severance and benefit related costs
$
466

 
$
866

 
$
(7
)
 
$
1,205

 
$
—

 
$
120

Lease termination expenses
—

 
168

 
(2
)
 
166

 
—

 
—

Allowances for doubtful accounts
11,464

 
1,630

 
(321
)
 
—

 
3,863

 
8,910

Currency translation
—

 
864

 
—

 
—

 
864

 
—

Other restructuring costs
2,496

 
7,202

 
(67
)
 
4,045

 
3,968

 
1,618

Total pre-tax restructuring charges
$
14,426

 
$
10,730

 
$
(397
)
 
$
5,416

 
$
8,695

 
$
10,648