Quarterly report pursuant to Section 13 or 15(d)

Restructuring

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Restructuring
9 Months Ended
Jun. 30, 2014
Restructuring  
Restructuring

17.       Restructuring

 

During the three months ended June 30, 2014, Hillenbrand incurred $1.5 of restructuring costs ($1.5 expense at the Process Equipment Group, $0.1 gain at Batesville, and $0.1 expense at Corporate).  These costs related primarily to severance costs at Coperion as we continue to integrate and streamline the business operations within the Process Equipment Group and were classified on the income statement as an increase to operating expenses.

 

Restructuring charges for the nine months ended June 30, 2014 totaled $2.8 ($1.8 expense at the Process Equipment Group, $0.3 gain at Batesville, and $1.3 expense at Corporate) and were classified on the income statement as follows:  $0.2 reduction of cost of goods sold and $3.0 increase to operating expenses.  The gain at Batesville was related to a $0.5 gain from the sale of real estate related to a restructuring event, offset in part by related expenses.  Corporate restructuring charges of $1.3 were related to the realignment of the Company’s executive management team.  Additional charges related to our planned restructuring initiatives of approximately $1.0 are expected to be incurred in 2014.