|12 Months Ended|
Dec. 31, 2016
NOTE 13. RESTRUCTURING
The Company initiated a restructuring plan in 2014 (the “2014 Restructuring Plan”) to realign resources within the organization and completed the plan during the year ended December 31, 2016. Based on the Company’s 2014 Restructuring Plan, we determined that long-lived assets in certain asset groups required an impairment analysis. As of the year ended December 31, 2014, the carrying values of our Asian manufacturing and Asian distribution operations as well as our sales, marketing, and distribution office in Japan were above their fair values based upon a discounted cash flow analysis. During the year ended December 31, 2014, we incurred restructuring charges of $2,056 related to impairment of long-lived assets. During the years ended December 31, 2016, 2015, and 2014, we incurred $30, $2,356, and $3,583, respectively, of restructuring charges related to the 2014 Restructuring Plan. We have incurred $5,969 of cumulative restructuring charges since the commencement of the 2014 Restructuring Plan.
As part of the conclusion of the Company’s review of strategic alternatives, the Company initiated restructuring activities in efforts to further realign resources within the organization (the “2015 Restructuring Plan”) and anticipates completing the plan in 2017. During the year ended December 31, 2016 and 2015, we incurred $1,365 and $1,019, respectively, of restructuring charges related to the 2015 Restructuring Plan. There were no costs incurred related to the 2015 Restructuring Plan during 2014. We have incurred $2,384 of cumulative restructuring charges since the commencement of the 2015 Restructuring Plan. We estimate that we will incur an immaterial amount of costs during the year 2017.
The following table summarizes the restructuring charges, payments and the remaining accrual related to employee termination costs and facility costs:
As of December 31, 2016, termination costs and restructuring costs remained in accrued liabilities and are expected to be paid throughout 2017.
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://www.xbrl.org/2003/role/presentationRef