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Restructuring and Other Charges

12 Months Ended

Dec. 31, 2011

Restructuring and Other Charges [Abstract]

NOTE 7. RESTRUCTURING AND OTHER CHARGES

During each of fiscal 2010, fiscal 2009 and fiscal 2008, Cadence initiated restructuring plans in an effort to operate more efficiently. These restructuring plans were primarily comprised of headcount reductions, and the restructuring charges Cadence recorded for each of these restructuring plans were primarily for severance and termination benefits. Cadence also initiated various restructuring plans in previous years.

As of December 31, 2011, the total amount accrued for Cadence’s restructuring plans was as follows:


	As of December 31, 2011
	(In thousands)
Estimated lease losses	$	4,976
Severance and other benefits		46
Other		5

Total accrued as of December 31, 2011	$	5,027

The maximum lease loss could be as high as $7.7 million and will be influenced by rental rates and the ability to find and maintain tenants to sublease the vacated facilities. The cash payments related to these facilities, net of sublease income, if any, will be made through 2025.

The remaining accrual for Cadence’s restructuring plans is recorded in the Consolidated Balance Sheet as follows:


	As of December 31, 2011
	(In thousands)
Accounts payable and accrued liabilities	$	688
Other long-term liabilities		4,339

Total accrued as of December 31, 2011	$	5,027

The severance and termination benefits costs associated with the 2010 restructuring plan, 2009 restructuring plan and 2008 restructuring plan were recorded during fiscal 2010, fiscal 2009 and fiscal 2008, respectively. Payment of the accrued severance and termination benefits for these restructuring plans was made primarily during the subsequent fiscal year.

The following table presents activity for Cadence’s restructuring plans during fiscal 2011, fiscal 2010 and fiscal 2009:


	Severance and Benefits			Excess Facilities			Other			Total
	(In thousands)
Balance, January 3, 2009	$	29,667		$	8,423		$	84		$	38,174
Restructuring and other charges (credits), net		32,044			(658	)		(10	)		31,376
Non-cash charges		----			355			----			355
Cash payments		(42,320	)		(2,141	)		(69	)		(44,530	)
Effect of foreign currency translation		(466	)		543			----			77

Balance, January 2, 2010	$	18,925		$	6,522		$	5		$	25,452

Restructuring and other charges, net		5,147			1,227			3,778			10,152
Non-cash charges		----			307			(3,778	)		(3,471	)
Cash payments		(14,421	)		(1,889	)		----			(16,310	)
Effect of foreign currency translation		(453	)		(299	)		----			(752	)

Balance, January 1, 2011	$	9,198		$	5,868		$	5		$	15,071

Restructuring and other charges (credits), net		(944	)		1,304			----			360
Non-cash charges		----			137			----			137
Cash payments		(8,385	)		(2,219	)		----			(10,604	)
Effect of foreign currency translation		177			(114	)		----			63

Balance, December 31, 2011	$	46		$	4,976		$	5		$	5,027

- 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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