Annual report pursuant to Section 13 and 15(d)

Restructuring

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Restructuring
12 Months Ended
Sep. 30, 2014
Restructuring  
Restructuring

17.Restructuring

 

During 2014, Hillenbrand incurred $5.6 of restructuring costs ($4.3 expense at the Process Equipment Group, $0.2 gain at Batesville, and $1.5 expense at Corporate).  These costs consisted of $0.1 classified as cost of goods sold and $5.5 classified as operating expenses related to severance and other restructuring costs.  Restructuring charges at the Process Equipment Group relate primarily to severance costs as we continue to integrate and streamline the business operations within the segment.  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 $1.5 were related to the realignment of the Company’s executive management team.  Future charges related to these restructurings are not expected to be significant.  A portion of the severance and exit costs have been paid in 2014.  At September 30, 2014 $3.0 was accrued and will be paid in 2015.