Restructuring Program

6 Months Ended

Dec. 31, 2011

Note 15 – Restructuring Program

Our restructuring program that is designed to improve our global footprint, cost structure, technology portfolio, human resources and internal processes continues. During the three and six months ended December 31, 2011 and 2010, we continued to refine and expand on activities launched in prior years. During the three and six months ended December 31, 2011, one significant new program was launched to optimize certain research and development and supply chain functions in our Professional segment. During the three and six months ended December 31, 2010, significant new programs launched included the relocation of certain manufacturing activities from Washington, Missouri to Mexico and the outsourcing of certain manufacturing activities to third party suppliers.

A summary and components of our restructuring activities are as follows and include accruals for new programs as well as revisions to estimates, both increases and decreases, to programs accrued in prior periods:


	Severance Related Costs			Third Party Contractor Termination Costs			Facility Closure and Other Related Costs			Asset Impairments ⁽¹⁾			Total
Liability, June 30, 2011	$	31,762		$	0		$	7,860		$	0		$	39,622
Expense ⁽²⁾		841			280			713			1,078			2,912
Accumulated depreciation offset		0			0			0			(1,078	)		(1,078	)
Payments		(3,072	)		(280	)		(1,845	)		0			(5,197	)
Foreign currency translation		(2,144	)		0			0			0			(2,144	)

Liability, December 31, 2011	$	27,387		$	0		$	6,728		$	0		$	34,115

Liability, June 30, 2010	$	33,036		$	0		$	7,562		$	0		$	40,598
Expense ⁽²⁾		1,141			0			702			333			2,176
Accumulated depreciation offset		0			0			0			(333	)		(333	)
Payments		(9,094	)		0			(1,483	)		0			(10,577	)
Foreign currency translation		1,991			0			59			0			2,050

Liability, December 31, 2010	$	27,074		$	0		$	6,840		$	0		$	33,914

⁽¹⁾	Credits related to restructuring charges for accelerated depreciation and inventory provisions are recorded against the related assets in Property, plant and equipment, net or Inventory, net in our Condensed Consolidated Balance Sheets and do not impact the restructuring liability.

⁽²⁾	Restructuring expenses noted above are primarily in SG&A in our Condensed Consolidated Statements of Income. Asset impairments which consist of accelerated depreciation and inventory provisions are primarily in Cost of sales in our Condensed Consolidated Statements of Income.

Restructuring liabilities are recorded in Accrued liabilities and Other non-current liabilities in our Condensed Consolidated Balance Sheets.

Restructuring expenses by reporting business segment are as follows:


	Three Months Ended December 31,					Six Months Ended December 31,
	2011			2010		2011		2010
Infotainment	$	(415	)	$	2,659	$	92	$	2,788
Lifestyle		190			645		340		708
Professional		1,077			415		1,357		(1,919	)
Other		45			5		45		266

Total		897			3,724		1,834		1,843
Asset Impairments		0			1,357		1,078		333

Total	$	897		$	5,081	$	2,912	$	2,176

- 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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