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Impairment and Restructuring Charges
 12 Months Ended
Dec. 31, 2016
Restructuring and Related Activities [Abstract]  
Impairment and Restructuring Charges Note 12 - Impairment and Restructuring Charges
Impairment and restructuring charges by segment were as follows:

Year ended December 31, 2016:
 
Mobile
Industries
Process
Industries
Corporate
Total
Impairment charges
$
3.9

$
—

$
—

$
3.9

Severance expense and related benefit costs
9.3

6.0

—

15.3

Exit costs
1.8

0.7

—

2.5

Total
$
15.0

$
6.7

$
—

$
21.7


Year ended December 31, 2015:
 
Mobile
Industries
Process
Industries
Corporate
Total
Impairment charges
$
0.1

$
3.2

$
—

$
3.3

Severance expense and related benefit costs
4.5

2.6

0.6

7.7

Exit costs
0.8

2.9

—

3.7

Total
$
5.4

$
8.7

$
0.6

$
14.7


Year ended December 31, 2014:`
 
Mobile
Industries
Process
Industries
Corporate
Total
Impairment charges
$
98.2

$
0.3

$
0.4

$
98.9

Severance expense and related benefit costs
9.3

1.4

—

10.7

Exit costs
2.0

1.8

—

3.8

Total
$
109.5

$
3.5

$
0.4

$
113.4


The following discussion explains the major 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 the Pulaski bearing plant, which is expected to close in approximately one year from the announcement date and to affect approximately 120 employees. During 2016, the Company recorded severance and related benefit costs of $2.5 million related to this closure.
 
In August 2016, the Company completed the consultation process to close the Benoni manufacturing operations affecting approximately 85 employees. During 2016, the Company recorded impairment charges of $0.5 million and severance and related benefit costs of $1.1 million related to this closure. Benoni will continue to recondition bearings and assemble rail bearings.

On March 17, 2016, the Company announced the closure of the Altavista bearing plant. The plant is expected to close approximately one year from the announcement date, with production transferring to the Company's bearing plant near Lincolnton, North Carolina. During 2016, the Company recorded impairment charges of $3.1 million and severance and related benefit costs of $1.9 million related to this closure.

On September 8, 2014, the Company announced plans to restructure its former Aerospace segment. In connection with the restructuring, the Company: (1) eliminated leadership positions and integrated substantially all aerospace activities into Mobile Industries under the direction of Christopher A. Coughlin, Executive Vice President and Group President; (2) sold the assets of its aerospace engine overhaul business, located in Mesa, Arizona, during the fourth quarter of 2014; (3) evaluated strategic alternatives for its aerospace MRO parts business, also located in Mesa; and (4) announced plans to close its aerospace bearing facility located in Wolverhampton, U.K. by early 2016, rationalizing the capacity into existing facilities. In conjunction with this announcement, the Company reviewed goodwill for impairment for its three reporting units within the Aerospace segment as a result of declining sales forecasts and financial performance within the segment. As a result of that review, the Company recorded a pretax goodwill impairment charge of $86.3 million during the third quarter of 2014 related to its Aerospace Transmissions and Aerospace Aftermarket reporting units. In addition, the Company recorded an intangible asset impairment charge of $9.9 million, an impairment charge of $1.2 million for its engine overhaul business, which it classified as assets held for sale and severance and related benefits of $0.3 million. During the fourth quarter of 2014, the Company recorded severance and related benefits of $3.7 million related to the planned closure of Wolverhampton. In 2016, the Company recorded exit costs of $0.9 million related to the closure of Wolverhampton. See Note 18 - Fair Value for additional information on the impairment charges for the former Aerospace segment.

In addition to the above charges, during 2015 and 2014, the Company recorded severance and related benefit costs of $1.2 million and $2.9 million related to the rationalization of its facility in Colmar, France.

Process Industries
During 2015, the Company recorded impairment charges of $3.0 million related to a repair business in Niles, Ohio. See Note 18 - Fair Value for additional information on the impairment charges for the repair business. In addition, the Company recorded $2.9 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:
In 2016, the Company recognized $9.4 million of severance and related benefits to eliminate approximately 175 positions to improve efficiency and reduce costs. Of the $9.4 million charge for 2016, $3.8 million related to the Mobile Industries segment and $5.6 million related to the Process Industries segment. During 2015, the Company recognized $6.5 million of severance and related benefit costs to eliminate approximately 100 positions. Of the $6.5 million charge for 2015, $3.4 million related to the Mobile Industries segment, $2.5 million related to the Process Industries segment and $0.6 million related to Corporate positions.

Consolidated Restructuring Accrual:
The following is a rollforward of the consolidated restructuring accrual for the years ended December 31:
 
2016
2015
Beginning balance, January 1
$
11.3

$
9.5

Expense
17.8

11.4

Payments
(19.0
)
(9.6
)
Ending balance, December 31
$
10.1

$
11.3


The restructuring accrual at December 31, 2016 and 2015 is included in other current liabilities on the Consolidated Balance Sheets.