Restructuring Program

3 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

Note 16 – 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, 2014 and 2013, we continued to refine existing programs and launched significant new programs focused on achieving further productivity improvements to: (i) optimize certain research and development, supply chain and administrative functions; (ii) outsource certain manufacturing capabilities; (iii) divest or sublease facilities no longer needed to support current operations and (iv) relocate certain functions to best cost countries.

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, 2014	$	54,157		$	0		$	30,262		$	0		$	84,419
Expense ⁽²⁾		5,093			0			439			1,394			6,926
Accumulated depreciation offset		0			0			0			(1,394	)		(1,394	)
Payments		(3,834	)		0			(1,010	)		0			(4,844	)
Foreign currency translation		(3,879	)		0			(1,772	)		0			(5,651	)

Liability, September 30, 2014	$	51,537		$	0		$	27,919		$	0		$	79,456

Liability, June 30, 2013	$	23,563		$	1,014		$	33,848		$	0		$	58,425
Expense ⁽²⁾		20,694			12			1,309			2,020			24,035
Accumulated depreciation offset		0			0			0			(2,020	)		(2,020	)
Payments		(9,990	)		(61	)		(1,858	)		0			(11,909	)
Foreign currency translation		824			28			1,035			0			1,887

Liability, September 30, 2013	$	35,091		$	993		$	34,334		$	0		$	70,418

⁽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,
	2014			2013
Infotainment	$	(10	)	$	20,731
Lifestyle		1,815			883
Professional		3,727			401

Total		5,532			22,015
Asset impairments		1,394			2,020

Total	$	6,926		$	24,035

- 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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