Restructuring Charges

3 Months Ended

Dec. 29, 2012

In the first quarter of 2013, as part of our strategy to reduce costs and to realign our business, we implemented a restructuring of our business and recorded restructuring charges of $15.5 million. The restructuring charges included $15.5 million for severance and related costs associated with 168 employees notified of termination during the first quarter of 2013 and $27 thousand of charges related to excess facilities. The first quarter employee terminations triggered a curtailment of a non-U.S. pension plan and interim remeasurement of the pension plan's assets and liabilities. The remeasurement resulted in a decrease in the plan's net unrecognized losses of $0.6 million, which was recorded in accumulated other comprehensive income net of tax. In addition, the first quarter of 2013 restructuring charges include a benefit of $0.1 million related to adjusting facility accruals recorded in historical periods.

The following table summarizes restructuring accrual activity for the three months ended December 29, 2012:



	2013 Restructuring
	Employee Severance and Related Benefits			Facility Closures and Related Costs		Total			Historical (1)			Total
	(in thousands)
October 1, 2012	$	—		$	—	$	—		$	4,461		$	4,461
Charges to operations	15,517			27		15,544			(142		)	15,402
Cash disbursements	(7,217		)	—		(7,217		)	(3,047		)	(10,264		)
Foreign exchange impact	56			—		56			20			76
Accrual, December 29, 2012	$	8,356		$	27	$	8,383		$	1,292		$	9,675

(1) The historical balances and activity are primarily for employee severance and related benefits related to the 2012 restructuring charges.

The accrual for facility closures and related costs is included in accrued expenses in the consolidated balance sheet, and the accrual for employee severance and related benefits is included in accrued compensation and benefits in the consolidated balance sheet.

- 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