Restructuring Impairment Charges

3 Months Ended

Mar. 31, 2012

Note 16 – Restructuring/ Impairment Charges

Effective March 31, 2012, we undertook several initiatives with the goal of streamlining our operations in order to reduce future costs. These initiatives included (i) implementing an early retirement program for certain eligible employees, (ii) realigning our organizational structure by consolidating a number of senior executive positions, reorganizing certain business functions and redeploying resources across the Company, (iii) impairing certain assets primarily comprised of a technology license.

The following table summarizes the restructuring and impairment charges related to these activities recorded in our operating results in the first quarter of 2012.

(Dollars in thousands)
	March 31, 2012
Severance and related costs	$	4,545
Retiree medical benefits		2,300
Other asset impairments		539
Total charges (1)	$	7,384

(1) These amounts have been included in restructuring and impairment charges on our condensed consolidated statements of comprehensive income.