Restructuring Charges

12 Months Ended

Dec. 31, 2011

Restructuring and Related Activities Disclosure

RESTRUCTURING CHARGES

During the fourth quarter of 2008, the Company initiated a global cost reduction program which has substantially been completed. The Company also initiated additional cost reduction measures in the fourth quarter of 2011. Charges under the programs primarily comprise severance costs. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet. Through December 31, 2011, total charges recognized were $48.6 million, of which $5.9 million, $4.9 million and $31.4 million was recognized during 2011, 2010 and 2009, respectively. Cash paid for severance during the years ended December 31, 2011, 2010 and 2009 totaled $6.3 million, $11.1 million and $22.2 million, respectively.

A rollforward of the Company’s accrual for restructuring activities for the years ended December 31, 2011 and 2010 is as follows:



	Employee Related			Other			Total
Balance at December 31, 2009	$	14,122		$	684		$	14,806
Restructuring charges	3,508			1,358			4,866
Cash payments	(9,252		)	(1,815		)	(11,067		)
Impact of foreign currency	(657		)	(92		)	(749		)
Balance at December 31, 2010	$	7,721		$	135		$	7,856
Restructuring charges	5,190			722			5,912
Cash payments	(5,540		)	(757		)	(6,297		)
Impact of foreign currency	98			—			98
Balance at December 31, 2011	$	7,469		$	100		$	7,569

- Definition

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.

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