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Potential Spinoff of Health Care Business (Spinoff [Member])
6 Months Ended
Jun. 30, 2014
Spinoff [Member]
 
Restructuring Cost and Reserve  
Restructuring and Related Activities Disclosure
Potential Spin-Off of Health Care Business and Related Costs
In November 2013, we announced that our Board of Directors authorized management to pursue a potential tax-free spin-off of our health care business. A spin-off would create a stand-alone, publicly traded health care company with approximately $1.7 billion in annual net sales, focused on the sale of surgical and infection prevention products for the operating room and other medical supplies, and medical devices focused on pain management, respiratory and digestive health.
A Form 10 registration statement was filed with the SEC in May 2014, and an amendment to the Form 10 was filed in June 2014. We continue to analyze the potential spin-off and expect that the spin-off will be completed at the end of October 2014, assuming Board approval and subject to market, regulatory and other conditions. However, there are no assurances as to when the potential spin-off will be completed, if at all, or if the spin-off will be completed based on the expected plans.
In June 2014, we decided to exit one of our health care glove manufacturing facilities in Thailand and outsource the related production in order to improve our ongoing cost and competitive position.  The plan is expected to result in charges of approximately $70 ($50 after tax).  Charges recognized in cost of sales during the quarter ended June 30, 2014 were $49, consisting of an asset impairment charge of $42 and a charge of $7 related to workforce reductions. In addition, during the three and six months ended June 30, 2014, $19 and $26 were recorded, respectively, in marketing, research and general expenses for transaction and related costs associated with the potential spin-off of our health care business.  Total charges during the three and six months ended June 30, 2014 for these matters were $68 and $75 ($49 and $53 after tax), respectively.