XML 55 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Severance And Restructuring Charges
3 Months Ended
Mar. 31, 2012
Severance And Restructuring Charges [Abstract]  
Severance And Restructuring Charges

5. Severance and Restructuring Charges

On February 13, 2012, the Company approved a distribution network optimization and cost reduction program. This program was substantially completed in the first quarter of 2012 and the Company recorded a $6.2 million pre-tax charge in that period in connection with these actions. The pre-tax charge is comprised of facility closure expenses of $2.6 million and severance and related expense of $3.6 million which were included in operating expenses. Cash outflows for this action will occur primarily during 2012 and 2013. Cash outlays associated with this severance charge in the three months ended March 31, 2012 were $0.2 million. As of March 31, 2012, the Company had accrued liabilities for these actions of $3.4 million.

On December 31, 2010, the Company approved an early retirement program for eligible employees and a focused workforce realignment to support strategic initiatives. The Company recorded a pre-tax charge of $9.1 million in the fourth quarter of 2010 for estimated severance pay, benefits and outplacement costs related to these actions. This charge was included in the operating expenses on the Consolidated Statements of Income for the quarter ending December 31, 2010. Cash outlays associated with this severance charge in the three months ended March 31, 2012 were $1.3 million. During the year ended December 31, 2011, the Company had a reversal of a portion of these severance charges of $0.9 million. As of March 31, 2012 and December 31, 2011, the Company had accrued liabilities for these actions of $1.3 million and $2.6 million, respectively.