Note 13 - Impairment and Restructuring Charges

Impairment and restructuring charges by segment are comprised of the following:

For the three months ended September 30, 2016:



	Mobile Industries		Process Industries		Corporate		Total
Impairment charges	$	1.2	$	—	$	—	$	1.2
Severance and related benefit costs	2.9		0.4		—		3.3
Exit costs	0.3		0.5		—		0.8
Total	$	4.4	$	0.9	$	—	$	5.3

For the three months ended September 30, 2015:



	Mobile Industries		Process Industries		Corporate		Total
Severance and related benefit costs	$	2.0	$	1.7	$	0.6	$	4.3
Exit costs	0.1		—		—		0.1
Total	$	2.1	$	1.7	$	0.6	$	4.4

For the nine months ended September 30, 2016:



	Mobile Industries		Process Industries		Corporate		Total
Impairment charges	$	3.8	$	—	$	—	$	3.8
Severance and related benefit costs	7.7		4.9		—		12.6
Exit costs	1.6		0.7		—		2.3
Total	$	13.1	$	5.6	$	—	$	18.7

For the nine months ended September 30, 2015:



	Mobile Industries		Process Industries		Corporate		Total
Impairment charges	$	0.1	$	3.2	$	—	$	3.3
Severance and related benefit costs	2.7		1.7		0.6		5.0
Exit costs	0.7		3.0		—		3.7
Total	$	3.5	$	7.9	$	0.6	$	12.0

The following discussion explains the impairment and restructuring charges recorded for the periods presented; however, it is not intended to reflect a comprehensive discussion of all amounts in the tables above.

Mobile Industries

On September 29, 2016, the Company announced the closure of its bearing plant in Pulaski, Tennessee ("Pulaski"). The plant is expected to close in approximately one year from the announcement date. The closure of the Pulaski bearing plant is expected to affect approximately 120 employees. During the three months ended September 30, 2016, the Company recorded severance and related benefit costs of $1.7 million related to this closure.

In August 2016, the Company completed the consultation process to close the manufacturing operations in Benoni, South Africa ("Benoni"). South Africa will continue to recondition bearings and assemble rail bearings. Approximately 85 employees will be affected by the announcement. During the three months ended September 30, 2016, the Company recorded impairment charges of $0.5 million and severance and related benefit costs of $0.8 million related to this closure.

On March 17, 2016, the Company announced the closure of its bearing plant in Altavista, Virginia ("Altavista"). The plant is expected to close in approximately one year from the announcement date, with production transferring to the Company's bearing plant near Lincolnton, North Carolina. During the three months ended September 30, 2016, the Company recorded impairment charges of $0.7 million and severance and related benefits of $0.2 million related to this closure. During the first nine months of 2016, the Company recorded impairment charges of $3.1 million and severance and related benefit costs of $1.7 million related to this closure.

On September 8, 2014, the Company announced the closure of its bearing facility in Wolverhampton, United Kingdom. This facility closed during the second quarter of 2016 and the Company recorded exit costs of $0.8 million related to this closure.

In addition, the Company incurred $1.2 million of severance and related benefit costs related to the rationalization of one of its facilities in Europe during the first nine months of 2015.

Process Industries

During the first nine months of 2015, the Company recorded impairment charges of $3.0 million related to the Company's repair business in Niles, Ohio ("Niles"). See Note 17 - Fair Value for additional information on the impairment charges for the repair business. In addition, the Company recorded $3.0 million of exit costs related to the Company's termination of its relationship with one of its third-party sales representatives in Colombia.

Workforce Reductions:

During the first nine months of 2016, the Company recognized $7.7 million of severance and related benefit costs to eliminate approximately 175 positions, in the aggregate. Of the $7.7 million charge for the first nine months of 2016, $2.9 million related to the Mobile Industries segment and $4.8 million related to the Process Industries segment. During the three and nine months ended September 30, 2015, the Company recognized $4.0 million of severance and related benefit costs to eliminate approximately 65 positions. Of the $4.0 million charge for the third quarter of 2015, $1.8 million related to the Mobile Industries segment, $1.6 million related to the Process Industries segment and $0.6 million related to corporate positions.

The following is a rollforward of the consolidated restructuring accrual for the nine months ended September 30, 2016, and the twelve months ended December 31, 2015:



	September 30, 2016			December 31, 2015
Beginning balance, January 1	$	11.3		$	9.5
Expense	14.9			11.4
Payments	(16.0		)	(9.6		)
Ending balance	$	10.2		$	11.3

The restructuring accruals at September 30, 2016, and December 31, 2015, were included in other current liabilities on the Consolidated Balance Sheets.