Restructuring Charges

3 Months Ended

Apr. 03, 2016

Restructuring Charges [Abstract]

Restructuring Charges

Note 3. Restructuring Charges

During 2014, the Company announced a restructuring program that will result in a 10% permanent reduction of its workforce.  The reductions include elimination of duplicate corporate functions, deployment of our shared service model, and consolidation and alignment of various corporate functions and regional locations across the Company.

At April 3, 2016, we had $6.1 million included within accrued liabilities within our Condensed Consolidated Balance Sheets for cash expenditures needed to satisfy remaining obligations under these workforce reduction initiatives.  The Company expects to pay these amounts by the end of December 2016.

The following table is a reconciliation of our restructuring liability balance as of April 3, 2016:

	(millions of dollars)
Restructuring liability, December 31, 2015	$	7.9
Additional provisions		0.9
Cash payments		(2.7	)
Restructuring liability,  April 3, 2016	$	6.1