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Restructuring and Other Items

6 Months Ended

Jul. 01, 2012

Restructuring and Other Items [Abstract]

Note 4 — Restructuring and Other Items

The following table summarizes items included in restructuring of operations and other items, net:


	Three Months Ended						Six Months Ended
	July 1, 2012			July 3, 2011			July 1, 2012			July 3, 2011
	(In thousands)
Lease terminations (a)	$	1,181		$	1,865		$	2,815		$	3,553
Employee severance and benefits (b)		1,028			289			1,459			1,932

Total restructuring expense		2,209			2,154			4,274			5,485
Other items, net		4,282	(c)		(13,058	)(d)		17,679	(e)		(13,583	)(d)

Total restructuring of operations and other items, net	$	6,491		$	(10,904	)	$	21,953		$	(8,098	)

(a)	Includes changes in time value, on-going operating expense and changes in estimates related to previously vacated facilities.

(b)	Relates to restructuring actions taken as the Company continued to streamline operations.

(c)	Primarily consists of $2.4 million of property and equipment write-downs and $1.9 million of transition service agreement costs related to the sale of the external storage systems business.

(d)	Primarily relates to the reversal of a $14.5 million sales and use tax related liability as a result of concluding various audits, partially offset by $1.3 million of transition service agreement costs related to the sale of the external storage systems business.

(e)	Primarily consists of $8.4 million of SandForce acquisition-related costs and $6.5 million of transition service agreement costs related to the sale of the external storage systems business.

The following table summarizes the significant activity within, and components of, the Company’s restructuring obligations:


	Lease Terminations			Employee Severance and Benefits			Total
	(In thousands)
Balance at December 31, 2011	$	11,752		$	10,444		$	22,196
Expense		2,815			1,459			4,274
Utilized(a)		(4,844	)		(10,810	)		(15,654	)

Balance at July 1, 2012 (b)	$	9,723		$	1,093		$	10,816

(a)	Represents cash payments.

(b)	The balance remaining for lease terminations is expected to be paid during the remaining terms of the leases, which extend through 2013. The balance remaining for employee severance and benefits is expected to be paid by the end of 2013.

- 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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