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Restructuring, Integration, and Other Charges
 6 Months Ended
Jun. 27, 2015
Restructuring Charges [Abstract]  
Restructuring, Integration and Other Charges [Text Block]
Restructuring, Integration, and Other Charges

During the second quarters of 2015 and 2014, the company recorded restructuring, integration, and other charges of $17,147 ($12,895 net of related taxes or $.13 per share on both a basic and diluted basis) and $9,632 ($7,526 net of related taxes or $.08 and $.07 per share on a basic and diluted basis, respectively), respectively.

During the first six months of 2015 and 2014, the company recorded restructuring, integration, and other charges of $33,343 ($25,463 net of related taxes or $.27 and $.26 per share on a basic and diluted basis, respectively) and $21,246 ($15,546 net of related taxes or $.16 and $.15 per share on a basic and diluted basis, respectively), respectively.

The following table presents the components of the restructuring, integration, and other charges:
 
 
Quarter Ended
 
Six Months Ended
 
 
June 27,
2015
 
June 28,
2014
 
June 27,
2015
 
June 28,
2014
Restructuring and integration charge - current period actions
 
$
9,875

 
$
10,993

 
$
19,185

 
$
21,406

Restructuring and integration charges (credits) - actions taken in prior periods
 
268

 
(513
)
 
678

 
(351
)
Acquisition-related expenses (credits)
 
7,004

 
(848
)
 
13,480

 
191

 
 
$
17,147

 
$
9,632

 
$
33,343

 
$
21,246



2015 Restructuring and Integration Charge

The following table presents the components of the 2015 restructuring and integration charge of $19,185 and activity in the related restructuring and integration accrual for the first six months of 2015:
 
 
Personnel
Costs
 
Facilities Costs
 
Other
 
Total
Restructuring and integration charge
 
$
16,486

 
$
1,814

 
$
885

 
$
19,185

Payments
 
(9,166
)
 
(1,078
)
 
(96
)
 
(10,340
)
Non-cash usage
 
—

 
(9
)
 
(607
)
 
(616
)
Foreign currency translation
 
79

 
5

 
(26
)
 
58

Balance as of June 27, 2015
 
$
7,399

 
$
732

 
$
156

 
$
8,287



The restructuring and integration charge of $19,185 for the first six months of 2015 includes personnel costs of $16,486, facilities costs of $1,814, and other costs of $885. These restructuring initiatives are due to the company's continued efforts to lower cost and drive operational efficiency. Integration costs are primarily related to the integration of acquired businesses within the company's pre-existing business and the consolidation of certain operations.

2014 Restructuring and Integration Charge

The following table presents the activity in the restructuring and integration accrual for the first six months of 2015 related to the 2014 restructuring and integration:
 
 
Personnel 
Costs
 
Facilities Costs
 
Other
 
Total
Balance as of December 31, 2014
 
$
8,622

 
$
2,479

 
$
1,247

 
$
12,348

Restructuring and integration charge (credit)
 
219

 
(87
)
 
369

 
501

Payments
 
(4,689
)
 
(1,027
)
 
(652
)
 
(6,368
)
Non-cash usage
 
—

 
—

 
(476
)
 
(476
)
Foreign currency translation
 
(456
)
 
(81
)
 
—

 
(537
)
Balance as of June 27, 2015
 
$
3,696

 
$
1,284

 
$
488

 
$
5,468


Restructuring and Integration Accruals Related to Actions Taken Prior to 2014

The following table presents the activity in the restructuring and integration accruals for the first six months of 2015 related to restructuring and integration actions taken prior to 2014:

 
 
Personnel
Costs
 
Facilities Costs
 
Other
 
Total
Balance as of December 31, 2014
 
$
2,519

 
$
3,025

 
$
91

 
$
5,635

Restructuring and integration charges (credits)
 
(449
)
 
626

 
—

 
177

Payments
 
(547
)
 
(2,166
)
 
(84
)
 
(2,797
)
Non-cash usage
 
(60
)
 
71

 
—

 
11

Foreign currency translation
 
(132
)
 
47

 
(7
)
 
(92
)
Balance as of June 27, 2015
 
$
1,331

 
$
1,603

 
$
—

 
$
2,934



Restructuring and Integration Accrual Summary

In summary, the restructuring and integration accruals aggregate $16,689 at June 27, 2015, all of which are expected to be spent in cash, and are expected to be utilized as follows:

•
The accruals for personnel costs totaling $12,426 relate to the termination of personnel and are primarily expected to be spent within one year. 

•
The accruals for facilities totaling $3,619 relate to vacated leased properties that have scheduled payments of $2,314 in 2015, $964 in 2016, $189 in 2017, and $152 in 2018.

•
Other accruals of $644 are expected to be spent within one year.

Acquisition-Related Expenses and Other Charges

Included in restructuring, integration, and other charges for the second quarter and first six months of 2015 are acquisition-related expenses of $7,004 and $13,480, respectively, consisting of charges related to contingent consideration for acquisitions completed in prior years which were conditional upon the financial performance of the acquired companies and the continued employment of the selling shareholders, as well as professional and other fees directly related to recent acquisition activity.

Included in restructuring, integration, and other charges for the second quarter and first six months of 2014 are acquisition-related expenses (credits) of $(848) and $191, respectively, primarily consisting of professional fees directly related to recent acquisition activity, offset by an insurance recovery related to environmental matters in connection with the Wyle Electronics ("Wyle") acquisition.