4. Restructuring

On March 9, 2017, the Company announced a restructuring plan (the “Plan”) to improve the Company’s organizational structure and operational efficiency within the Material Handling Segment. In connection with the Plan, the Company expects to record restructuring charges of approximately $10 million in 2017; of this amount, the Company expects restructuring-related costs such as equipment relocation, facility shutdown and other implementation costs of about $5.5 million and employee severance and other employee-related costs of approximately $2.5 million. Non-cash charges relating to these restructuring actions, primarily accelerated depreciation charges and potential impairment of property, plant and equipment, are expected to be approximately $2.0 million. Actions under the Plan are expected to be substantially completed by the end of 2017.

In the first quarter of 2017, the Company recognized a gain of $0.8 million on asset dispositions in connection with closing a manufacturing plant in Bluffton, Indiana. Restructuring and accelerated depreciation charges related to this plant and recognized in the first quarter of 2017 of $0.9 million were included in Cost of Sales in the accompanying Condensed Consolidated Statements of Operations (Unaudited).

The table below summarizes restructuring activity for the three months ended March 31, 2017:

	Employee Reduction		Accelerated Depreciation			Other Costs		Total
Balance at January 1, 2017	$	—	$	—		$	—	$	—
Charges to expense		224		618			12		854
Cash payments		—		—			—		—
Non-cash utilization		—		(618	)		—		(618	)
Balance at March 31, 2017	$	224	$	—		$	12	$	236