Restructuring Program

3 Months Ended

Sep. 30, 2012

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.

For the three months ended September 30, 2012 and 2011, we continued to refine and expand on activities launched in prior years. No significant new programs were launched during these periods.

A summary and components of our restructuring initiatives are presented below 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, 2012	$	19,938		$	17		$	10,839		$	0		$	30,794
Expense ⁽²⁾		(30	)		0			244			40			254
Accumulated depreciation offset		0			0			0			(40	)		(40	)
Payments		(2,671	)		0			(1,137	)		0			(3,808	)
Foreign currency translation		304			0			0			0			304

Liability, September 30, 2012	$	17,541		$	17		$	9,946		$	0		$	27,504

Liability, June 30, 2011	$	31,762		$	0		$	7,860		$	0		$	39,622
Expense ⁽²⁾		220			280			437			1,078			2,015
Accumulated depreciation offset		0			0			0			(1,078	)		(1,078	)
Payments		(1,652	)		(255	)		(1,134	)		0			(3,041	)
Foreign currency translation		(1,617	)		0			0			0			(1,617	)

Liability, September 30, 2011	$	28,713		$	25		$	7,163		$	0		$	35,901

⁽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 Inventories 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 presented below:


	Three Months Ended September 30,
	2012			2011
Infotainment	$	270		$	507
Lifestyle		(107	)		150
Professional		51			280
Other		0			0

Total		214			937
Asset impairments		40			1,078

Total	$	254		$	2,015

- 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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