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Restructuring and Severance Costs and Related Asset Write-Downs
12 Months Ended
Dec. 31, 2011
Restructuring and Severance Costs and Related Asset Write-Downs [Abstract]  
Restructuring and Severance Costs and Related Asset Write-Downs
Note 4 – Restructuring and Severance Costs and Related Asset Write-Downs

Restructuring and severance costs reflect the cost reduction programs implemented by the Company. These include the closing of facilities and the termination of employees.  Restructuring and severance costs include one-time exit costs, severance benefits pursuant to an on-going benefit arrangement, and related pension curtailment and settlement charges.  Severance costs also include executive severance and charges for the fair value of stock options of certain former employees which were modified such that they did not expire at termination.  Restructuring costs are expensed during the period in which the Company determines it will incur those costs and all requirements of accrual are met.  Because these costs are recorded based upon estimates, actual expenditures for the restructuring activities may differ from the initially recorded costs. If the initial estimates are too low or too high, the Company could be required either to record additional expenses in future periods or to reverse part of the previously recorded charges.  Asset write-downs are principally related to buildings and equipment that will not be used subsequent to the completion of restructuring plans, and cannot be sold for amounts in excess of carrying value.

Years ended December 31, 2011 and 2010

The Company did not initiate any new restructuring projects in the years ended December 31, 2011 and 2010 and thus did not record any restructuring and severance costs expenses in the years.

Year ended December 31, 2009

The Company recorded restructuring and severance costs of $37,874 for the year ended December 31, 2009.  Employee termination costs were $33,142, covering 2,571 technical, production, administrative, and support employees located in nearly every country in which the Company operates.  Severance costs include net pension settlement charges and credits for employees in the Republic of China (Taiwan) and the Philippines.  The Company also incurred $4,732 of other exit costs, principally lease termination costs related to facility closures and $681 of asset write-downs during the year ended December 31, 2009.  The restructuring and severance costs were incurred primarily in response to the declining business conditions experienced in the second half of 2008 and recessionary trends which continued into 2009.

Substantially all amounts related to programs initiated in 2009 have been paid as of December 31, 2011.