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Restructuring and Exit Activities
 9 Months Ended
Sep. 30, 2016
Restructuring [Abstract]  
Restructuring and Exit Activities

 

 

Note L: Restructuring and Exit Activities

During the third quarter of 2016, to streamline our operating and cost structure, we initiated the closure of our wholly-owned subsidiaries, Image Sensing Systems HK Limited located in Hong Kong; Limited (ISS HK), Image Sensing Systems (Shenzhen) Limited (ISS WOFE) located in China; Image Sensing Systems Europe Limited (ISS Europe) located in the United Kingdom; Image Sensing Systems Europe Limited SP.Z.O.O (Poland) located in Poland; and Image Sensing Systems Germany, GmbH (ISS Germany) located in Germany.  We have incurred $35,000 of legal entity closure costs during the quarter and expect to incur an additional $169,000 in future periods.

In the first quarter of 2016, the Company implemented restructuring plans in Canada. Because of these actions, restructuring charges of approximately $126,000 were recorded in the first nine months of 2016 related to employee terminations.

The following table shows the restructuring activity for the nine months ended September 30, 2016 (in thousands):

 

 

 

 

Facility Costs

 

 

 

 

Termination

 

and Contract

 

 

 

 

Benefits

 

Termination

 

Total

 

 

 

 

 

 

 

Balance at January 1, 2016

 

 $            -  

 

 $            -  

 

 $            -  

Charges

 

            126

 

               -  

 

            126

Payments/settlements

 

               -  

 

               -  

 

               -  

Balance at March 31, 2016

 

 $         126

 

 $            -  

 

 $         126

 

 

 

 

 

 

 

Payments/settlements

 

             (93)

 

               -  

 

             (93)

Balance at June 30, 2016

 

 $           33

 

 $            -  

 

 $           33

Payments/settlements

 

             (33)

 

 

 

             (33)

Balance at September 30, 2016

 

 $            -  

 

 $            -  

 

 $            -  

 

 

 

 

 

 

 

 

 

In the fourth quarter of 2014, the Company implemented restructuring plans to close our offices in Asia.  Because of these actions, restructuring charges of approximately $119,000 were recorded in the first nine months of 2015 related to employee terminations.

The following table shows the restructuring activity for the nine months ended September 30, 2015 (in thousands):

 

 

 

 

Facility Costs

 

 

 

 

Termination

 

and Contract

 

 

 

 

Benefits

 

Termination

 

Total

 

 

 

 

 

 

 

Balance at January 1, 2015

 

 $         190

 

 $           26

 

 $         216

Charges

 

            119

 

               -  

 

            119

Payments/settlements

 

           (295)

 

               (8)

 

           (303)

Balance at March 31, 2015

 

 $           14

 

 $           18

 

 $           32

 

 

 

 

 

 

 

Charges

 

               -  

 

               -  

 

               -  

Payments/settlements

 

             (14)

 

             (18)

 

             (32)

Balance at June 30, 2015

 

 $            -  

 

 $            -  

 

 $            -  

Balance at September 30, 2015

 

 $            -  

 

 $            -  

 

 $            -