Restructuring Program

9 Months Ended

Mar. 31, 2013

Restructuring And Related Activities [Abstract]

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 and nine months ended March 31, 2013 and 2012, we continued to refine and expand on activities launched in prior years. During the three and nine months ended March 31, 2013, significant new programs were launched focused on achieving further productivity improvements by consolidating operations and relocating certain functions to lower cost countries. During the three and nine months ended March 31, 2012, we continued to refine and expand on programs launched in prior years and initiated new programs to: (i) optimize certain research and development and supply chain functions; (ii) outsource certain manufacturing capabilities; and (iii) divest or sublease facilities no longer needed to support current operations, respectively.

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⁾		25,076			52			1,704			2,221			29,053
Accumulated depreciation offset		0			0			0			(2,221	)		(2,221	)
Payments		(11,655	)		(72	)		(4,364	)		0			(16,091	)
Foreign currency translation		65			3			19			0			87

Liability, March 31, 2013	$	33,424		$	0		$	8,198		$	0		$	41,622

Liability, June 30, 2011	$	31,762		$	0		$	7,860		$	0		$	39,622
Expense ⁽²⁾		1,735			315			6,394			1,976			10,420
Accumulated depreciation offset		0			0			0			(1,976	)		(1,976	)
Payments		(5,845	)		(298	)		(2,841	)		0			(8,984	)
Foreign currency translation		(1,528	)		0			0			0			(1,528	)

Liability, March 31, 2012	$	26,124		$	17		$	11,413		$	0		$	37,554

⁽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 March 31,					Nine Months Ended March 31,
	2013		2012			2013		2012
Infotainment	$	11,236	$	247		$	10,941	$	339
Lifestyle		13,867		370			14,618		710
Professional		1,658		6,755			1,273		8,112
Other		0		(762	)		0		(717	)

Total		26,761		6,610			26,832		8,444
Asset Impairments		1,226		898			2,221		1,976

Total	$	27,987	$	7,508		$	29,053	$	10,420

- 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.

+ References+ Details