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Facility consolidation charges
3 Months Ended
Mar. 25, 2012
Facility consolidation charges

NOTE 3 – Facility consolidation charges

The carrying values of property, plant and equipment at certain publishing businesses were evaluated due to facility consolidation efforts. The Company revised the useful lives of certain assets to reflect the use of those assets over a shortened useful life. As a result of the evaluations, the Company recorded pre-tax charges in the first quarter of 2012 and 2011 of $4.8 million and $7.7 million, respectively. Deferred tax benefits were recognized in the first quarter of 2012 and 2011 for these charges and, therefore, the year-to-date after-tax impact was $2.9 million (or $0.01 per share) and $4.6 million (or $0.02 per share), respectively.