|12 Months Ended|
Dec. 31, 2015
NOTE 13. RESTRUCTURING
The Company initiated a restructuring plan in 2014 (the “2014 Restructuring Plan”) to realign resources within the organization and anticipates completing the plan in 2016. During the years ended December 31, 2015 and 2014, we incurred $2,356 and $3,583, respectively, of restructuring charges related to the 2014 Restructuring Plan. Restructuring charges of $700 were incurred during the year ended December 31, 2015, which related to the write-off of inventory that was distinguishable and directly attributable to the Company’s 2014 Restructuring Plan and not a result of external market factors associated with the ongoing business. We have incurred $5,939 of cumulative restructuring charges since the commencement of the 2014 Restructuring Plan. We estimate that we will incur restructuring costs related to employee-related costs and facility exit costs during the year 2016.
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 2016. During the year ended December 31, 2015, we incurred $1,019 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 $1,019 of cumulative restructuring charges since the commencement of the 2015 Restructuring Plan.
The following table summarizes the restructuring charges, payments and the remaining accrual related to employee termination costs and facility costs:
As of December 31, 2015, termination costs and restructuring costs remained in accrued liabilities and are expected to be paid throughout 2016.
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