XML 31 R21.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Restructuring
3 Months Ended
Mar. 31, 2018
Restructuring And Related Activities [Abstract]  
Business Restructuring

 

15.

BUSINESS RESTRUCTURING

In May 2016, the Company announced plans to shut down its Longford Mills, Ontario, Canada (Longford Mills) manufacturing facility, a part of the Surfactant reportable segment, by December 31, 2016. The shutdown plan was developed as an effort to improve the Company’s asset utilization in North America and to reduce the Company’s fixed cost base. Manufacturing operations of the Longford Mills plant ceased by the end of 2016, and production of goods manufactured at the facility was transferred to other Company North American production sites. Decommissioning of the assets is expected to continue throughout 2018. As of March 31, 2018, $5,197,000 of aggregate restructuring expense has been recognized, reflecting $1,594,000 of termination benefits for approximately 30 employees and $3,603,000 for other expenses, principally asset decommissioning costs. 

Below is a reconciliation of the December 31, 2017 and the March 31, 2018 restructuring liabilities:

 

(In thousands)

 

Termination

Benefits

 

 

Other

Expense

 

 

Total

 

Restructuring liability at December 31, 2017

 

$

592

 

 

$

99

 

 

$

691

 

Expense recognized

 

 

 

 

 

358

 

 

 

358

 

Amounts paid

 

 

(140

)

 

 

(409

)

 

 

(549

)

Foreign currency translation

 

 

(3

)

 

 

(4

)

 

 

(7

)

Restructuring liability at March 31, 2018

 

$

449

 

 

$

44

 

 

$

493