RESTRUCTURING AND OTHER CHARGES

The Company continually evaluates its cost structure to be appropriately positioned to respond to changing market conditions. Given economic trends from 2008 into 2011, the Company initiated certain restructuring programs to better utilize its workforce and optimize facility utilization to match the demand for its products.

To optimize facility utilization, the Company established a restructuring program to move its crushing and screening manufacturing business from Cedar Rapids, Iowa within the MP segment to other facilities, primarily in North America. Engineering, sales and service functions for materials processing equipment currently made at the plant will be retained at the facility for the near future. The program is expected to cost $5.7 million, which has all been incurred to date, result in reductions of approximately 186 team members and be completed during 2011. Costs of $2.3 million and $0.1 million were charged to Cost of goods sold (“COGS”) and selling, general and administrative costs ("SG&A"), respectively, in the nine months ended September 30, 2011 for this program.

The Company established a restructuring program within the MP segment to realize cost synergies and support its joint brand strategy by consolidating certain of its crushing equipment manufacturing businesses. This program will result in the relocation of its Pegson operations in Coalville, United Kingdom to Omagh, Northern Ireland. The global design center for crushing equipment and certain component manufacturing will be retained at Coalville for the near future. The program is expected to cost $6.4 million, which has all been incurred to date, result in reductions of approximately 215 team members and be completed during 2011.

During the second quarter of 2010, the Company executed a restructuring program to better utilize facility space in its Port Equipment Business, which is included in the Cranes segment. The program cost $11.4 million and resulted in reductions of approximately 149 team members. This program was completed in 2010, except for certain benefits mandated by governmental agencies.

During the second quarter of 2011, the Company established restructuring programs within the Cranes segment to optimize facility utilization and consolidate certain manufacturing operations. These programs are expected to cost $16.6 million and result in the reduction of approximately 232 team members. This program is expected to be completed in 2011, except for certain benefits mandated by governmental agencies. Program costs of $11.2 million and $4.2 million were charged to COGS and SG&A, respectively, during the nine months ended September 30, 2011.

During the third quarter of 2011, the Company reorganized certain areas within the Construction segment to enhance operational efficiency. The expected cost of these activities is $1.2 million and resulted in the reduction of approximately 5 team members. Costs related to this program of $0.6 million and $0.6 million were charged to COGS and SG&A, respectively, during the three and nine months ended September 30, 2011.

During the third quarter of 2011, certain areas of the MHPS segment were reorganized to better utilize the Company's workforce. The expected cost related to these activities is $4.0 million and will result in the reduction of approximately 10 team members. This program is expected to be completed within a year. Costs related to this program of $4.0 million were charged to SG&A from the date of acquisition through September 30, 2011.

The following table provides information for all restructuring activities by segment of the amount of expense incurred during the nine months ended September 30, 2011, the cumulative amount of expenses incurred since inception and the total amount expected to be incurred (in millions):



	Amount incurred during the nine months ended September 30, 2011		Cumulative amount incurred through September 30, 2011 and total amount expected to be incurred
AWP	$	—	$	23.6
Construction	1.2		38.7
Cranes	16.3		33.0
MP	2.5		13.6
MHPS	4.0		4.0
Corporate and Other	0.1		6.2
Total	$	24.1	$	119.1

The following table provides information by type of restructuring activity with respect to the amount of expense incurred during the nine months ended September 30, 2011, the cumulative amount of expenses incurred since inception and the total amount expected to be incurred (in millions):



	Employee Termination Costs		Facility Exit Costs		Asset Disposal and Other Costs		Total
Amount incurred in the nine months ended September 30, 2011	$	21.5	$	—	$	2.6	$	24.1
Cumulative amount incurred through September 30, 2011 and total amount expected to be incurred	$	94.4	$	10.5	$	14.2	$	119.1

The following table provides a roll forward of the restructuring reserve by type of restructuring activity for the nine months ended September 30, 2011 (in millions):



	Employee Termination Costs			Facility Exit Costs		Asset Disposal and Other Costs			Total
Restructuring reserve at December 31, 2010	$	9.8		$	1.6	$	1.1		$	12.5
Restructuring charges	21.2			—		0.1			21.3
Cash expenditures	(4.8		)	—		(1.6		)	(6.4		)
Restructuring reserve at September 30, 2011	$	26.2		$	1.6	$	(0.4	)	$	27.4

During the nine months ended September 30, 2011 and 2010, $15.2 million and $14.0 million of restructuring charges were included in COGS. In addition, during the nine months ended September 30, 2011 and 2010, $8.9 million and $7.2 million of restructuring charges were included in SG&A costs. Included in the restructuring costs for the nine months ended September 30, 2011 and September 30, 2010 are $2.2 million and $8.0 million, respectively, of asset impairments