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Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events [Abstract]  
Subsequent Event

NOTE R – SUBSEQUENT EVENTS

Pension Settlement

The sale and purchase agreement ("SPA") associated with a 2003 European acquisition included a provision whereby the seller was required to pay an amount to the company if a specified acquired pension plan was calculated to be underfunded based on 2008 plan data. The unfunded obligation amount calculated by the plan's actuary based on that data was disputed by the seller. The parties entered into arbitration to resolve this matter and, in March 2011, the arbitrator found in favor of the company. The seller pursued an annulment of the award in French court. In November 2011, the seller paid approximately $8.8 million (GBP 5.5 million) to the company to allow for future monthly payments to the pension plan, pending a court ruling on their cancellation request. That money was placed in an escrow account with the pension plan acting as trustee. On January 6, 2012, both parties entered into a settlement agreement that settled all claims by either party for this and any other matter under the original SPA. The seller paid to the company an additional $50 million (GBP 32.2 million). The resolution of this contingency will be recognized in the company's first quarter 2012 financial statements as a credit to income. The cash received from the seller has been contributed to the pension plan in February 2012, reducing the unfunded position that existed at December 31, 2011. This contribution will be presented in the first quarter 2012 statement of cash flows as a use of cash in operating activities. The receipt of cash from the seller for the settlement will be presented as a source of cash in investing activities. Costs incurred to resolve the disputed arbitration award have been expensed as incurred and a portion of those costs have been reimbursed in the settlement agreement.

Tender Offer

On February 17, 2012, the company announced commencement of a cash tender offer to purchase up to $250.0 million aggregate principal amount of its outstanding $6.25% Senior Notes due 2013. The tender offer is scheduled to expire at midnight, New York City time, on March 16, 2012, unless extended or earlier terminated.