Management Actions

12 Months Ended

Dec. 31, 2015

Restructuring and Related Activities [Abstract]


3.	Management Actions

Q3 2015 Action – During the third quarter of 2015, we implemented a restructuring action to reduce our infrastructure costs that we anticipate will improve Selling and Administrative Expense operating leverage in future quarters. The pre-tax charge of $1,779 recognized in the third quarter of 2015 consisted primarily of severance, the majority of which was in Europe, and was included within Selling and Administrative Expense in the Consolidated Statements of Earnings. We believe the anticipated savings will offset the pre-tax charge in approximately one year. The charge impacted our Americas, EMEA and APAC operating segments. We do not expect additional costs will be incurred related to this restructuring action.

A reconciliation of the beginning and ending liability balances is as follows:



	Severance and Related Costs
Q3 2015 restructuring action	$	1,779
Cash payments	(815		)
Foreign currency adjustments	(19		)
December 31, 2015 balance	$	945

Q4 2015 Action – During the fourth quarter of 2015, we implemented an additional restructuring action to reduce our infrastructure costs that we anticipate will improve Selling and Administrative Expense operating leverage in future quarters. The pre-tax charge of $1,965, including other associated costs of $481, consisted primarily of severance and was recorded in the fourth quarter of 2015. the pre-tax charge was included within Selling and Administrative Expense in the Consolidated Statements of Earnings. We believe the anticipated savings will offset the pre-tax charge in approximately 1.5 years. The charge impacted our Americas, EMEA and APAC operating segments. We do not expect additional costs will be incurred related to this restructuring action.

A reconciliation of the beginning and ending liability balances is as follows:



	Severance and Related Costs
Q4 2015 restructuring action	$	1,484
Cash payments	(517		)
December 31, 2015	$	967