Restructuring Charges

9 Months Ended

Sep. 30, 2015

Note 12 – Restructuring Charges

The Company has undertaken initiatives to restructure its business operations to improve utilization and realize cost savings. These initiatives have included changing the number and location of production facilities, largely to align capacity and infrastructure with current and anticipated customer demand. This alignment includes transferring programs from higher cost geographies to lower cost geographies. The process of restructuring entails moving production between facilities, reducing staff levels, realigning our business processes, reorganizing our management and other activities.

The Company recognized restructuring charges during 2015 and 2014 primarily related to the closure of facilities in the Americas, capacity reduction and reductions in workforce in certain facilities across various regions.

The following table summarizes the 2015 activity in the accrued restructuring balances related to the restructuring activities initiated prior to September 30, 2015:

			Balance as of							Balance as of
			December 31,		Restructuring		Cash	Non-Cash		September 30,
(in thousands)			2014		Charges		Payment	Activity		2015
2015 Restructuring:
	Severance	$	-	$	2,306	$	(1,834)	-	$	472
	Leased facilities and equipment		-		2,334		(1,009)	-		1,325
	Other exit costs		-		1,559		(1,099)	(7)		453
Total		$	-	$	6,199	$	(3,942)	(7)	$	2,250