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RESTRUCTURING CHARGES
6 Months Ended
Jun. 30, 2011
RESTRUCTURING CHARGES  
RESTRUCTURING CHARGES

NOTE 10: RESTRUCTURING CHARGES

 

On March 18, 2010, the Company announced a restructuring plan to better align its manufacturing footprint with demand while further focusing the particular manufacturing activities of each of its North American production facilities. The Company elected to undergo this restructuring in order to better utilize its manufacturing capacity, eliminate duplication of capabilities and reduce associated costs. The Company based its accounting and disclosures on the applicable accounting guidance. As a result, charges to operations were made in the periods in which restructuring plan liabilities were incurred.

 

In connection with the plan, the Company incurred approximately $0.2 million of restructuring charges during the second quarter of 2011 related to facility realignment.  During the six months ended June 30, 2011, the Company incurred approximately $0.7 million of restructuring charges which included $0.1 of employee termination costs and $0.6 million of costs associated with facility realignment.  During the second quarter of 2010, the Company incurred $2.1 million of restructuring charges associated with employee termination costs.  During the six months ended June 30, 2010, the Company incurred approximately $5.8 million of restructuring charges which included $3.5 million of employee termination costs and $2.3 million of costs associated with the write-off of fixed assets.  To date, the Company has recorded restructuring charges totaling $8.2 million related to the plan. The Company estimates that the remaining charges related to the plan will not be significant.

 

Below is the summary of the changes in the restructuring liability during the six months ended June 30, 2011:

 

Reserve balance as of December 31, 2010

 

$

1,629

 

Additions

 

714

 

Payments

 

(1,837

)

Reserve balance as of June 30, 2011

 

$

506