Restructuring and Acquisition Related Costs

3 Months Ended

Mar. 28, 2014

Restructuring and Acquisition Related Costs

12. Restructuring and Acquisition Related Costs

The following table summarizes restructuring and acquisition related expenses in the accompanying consolidated statements of operations (in thousands):

	Three Months Ended
	March 28, 2014		March 29, 2013
2011 restructuring	$	28	$	937
2013 restructuring		—		418
Germany restructuring		—		7
Total restructuring charges	$	28	$	1,362
Acquisition charges	$	703	$	1,066
JADAK earn-out costs		87		—
Total acquisition related charges	$	790	$	1,066
Total restructuring and acquisition related costs	$	818	$	2,428

Total acquisition related charges include professional fees and expenses recognized under earn-out agreements in connection with the acquisition of JADAK.

2011 Restructuring

In November 2011, the Company announced a strategic initiative (“2011 restructuring”), which aimed to consolidate operations to reduce our cost structure and improve operational efficiency. As part of this initiative, the Company eliminated facilities through consolidation of certain manufacturing, sales and distribution facilities and exit of Semiconductor and Laser Systems businesses. The Company substantially completed the 2011 restructuring program by the end of 2013.

Rollforward of Accrued Expenses Related to Restructuring

The following table summarizes the accrual activities, by component, related to the Company’s restructuring plans recorded in the accompanying consolidated balance sheets (in thousands):

	Total			Severance			Facility			Depreciation			Other
Balance at December 31, 2013	$	1,272		$	585		$	648		$	—		$	39
Restructuring charges		28			(15	)		(96	)		125			14
Cash payments		(491	)		(256	)		(192	)		—			(43	)
Non-cash write-offs and other adjustments		(125	)		—			—			(125	)		—
Balance at March 28, 2014	$	684		$	314		$	360		$	—		$	10

In accordance with the guidance in ASC 420, “Exit or Disposal Cost Obligations,” the Company records lease termination accruals based on market estimates, including the time period for which facilities will remain vacant, sublease terms, sublease rates and discount rates. The Company reviews prior estimates and current market data available to determine the appropriate value of these liabilities at period end.