Note 2. Restructuring and Other Items, net

In 2015, the Company recognized impairment charges for certain underutilized coiled tubing equipment within the Energy Services segment which have been abandoned by the Company.

In 2016, the Company recognized additional restructuring charges for lease termination costs, inventory write-offs and impairment of assets relating to its exit from the Nitrogen and Pipeline product lines and restructuring of other onshore services within the Energy Services segment as a result of the significant reduction in oil prices and overcapacity in the onshore oil service market. The Company expects to realize further annualized savings from this restructuring program of $11.5 million (unaudited). In addition, the Company recognized a $2.9 million gain on previously impaired assets in the Refractories and Energy Services Segments.

In 2017, the Company recognized $15.0 million in restructuring and non-cash impairment charges from the closure of paper mills in North America, as well as the alignment of corporate and Paper PCC staffing levels into higher growth regions. The restructuring is expected to result in approximately $6 million (unaudited) in savings on an annualized basis.

The following table outlines the amount of restructuring charges recorded within the Consolidated Statements of Income, and the segments they relate to:

Restructuring and Other Items, net	Year Ended December 31, 2017
	2017			2016			2015
	(millions of dollars)
Impairment of assets
Specialty Minerals	$	5.3		$	-		$	-
Performance Materials		-			-			-
Energy Services		-			18.5			33.0
Corporate		-			-			1.2
Total impairment of assets charges	$	5.3		$	18.5		$	34.2

Severance and other employee costs
Specialty Minerals	$	5.0		$	-		$	-
Performance Materials		-			-			-
Refractories		-			-			2.0
Energy Services		1.7			12.7			9.0
Corporate		4.1			-			-
Total severance and other employee costs	$	10.8		$	12.7		$	11.0

Other
Refractories	$	-		$	(2.0	)	$	-
Energy Services		(1.1	)		(0.9	)		-

Total restructuring and other items, net	$	15.0		$	28.3		$	45.2

At December 31, 2017 and 2016, the Company had $8.1 million and $3.6 million, respectively, included within other current liabilities within our Consolidated Balance Sheets for cash expenditures needed to satisfy remaining obligations under these reorganization initiatives. The Company expects to pay these amounts by the end of 2018.

The following table is a reconciliation of our restructuring liability balance:

	(millions of dollars)
Restructuring liability, December 31, 2016	$	3.6
Additional provisions		10.8
Cash payments		(6.3	)
Restructuring liability, December 31, 2017	$	8.1