-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J+x12LE3/oWWDUzjT8I8v3te0FZgriid9ZDMV1zBNYeHlmX+6SQR+8SpTy8/axHh OapMRaIKxQpZOqJ2DAI5IA== 0001035704-06-000670.txt : 20060918 0001035704-06-000670.hdr.sgml : 20060918 20060918141623 ACCESSION NUMBER: 0001035704-06-000670 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060912 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities ITEM INFORMATION: Material Impairments FILED AS OF DATE: 20060918 DATE AS OF CHANGE: 20060918 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLEXTRONICS INTERNATIONAL LTD. CENTRAL INDEX KEY: 0000866374 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23354 FILM NUMBER: 061095330 BUSINESS ADDRESS: STREET 1: ONE MARINA BOULEVARD, #28-00 CITY: SINGAPORE STATE: U0 ZIP: 018989 BUSINESS PHONE: (65) 6890 7188 MAIL ADDRESS: STREET 1: ONE MARINA BOULEVARD, #28-00 CITY: SINGAPORE STATE: U0 ZIP: 018989 FORMER COMPANY: FORMER CONFORMED NAME: FLEXTRONICS INTERNATIONAL LTD DATE OF NAME CHANGE: 19940318 FORMER COMPANY: FORMER CONFORMED NAME: FLEX HOLDINGS PTE LTD DATE OF NAME CHANGE: 19940201 8-K 1 d39714e8vk.htm FORM 8-K e8vk
 

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 12, 2006
 
FLEXTRONICS INTERNATIONAL LTD.
(Exact Name of Registrant as Specified in Its Charter)
         
Singapore
(State or Other Jurisdiction
of Incorporation) 		  0-23354
(Commission
File Number) 		  Not Applicable
(IRS Employer
Identification No.)
     
One Marina Boulevard, #28-00    
Singapore   018989
(Address of Principal Executive Offices)   (Zip Code)
Registrant’s Telephone Number, including area code: (65) 6890 7188
Not Applicable
(Former name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (7 CFR 240.13e-4(c))
 
 

 

 

Item 2.05. Costs Associated with Exit or Disposal Activities.
On September 12, 2006, the Board of Directors of Flextronics International Ltd. (the “Company”) approved the disposal and exit of certain real estate owned and leased by the Company in order to reduce its investment in property, plant and equipment. As a result, during the second quarter ended September 30, 2006, the Company expects to recognize approximately $90 to $95 million in pre-tax charges consisting primarily of impairment charges and other exit charges, which are primarily facility lease termination costs. These activities are expected to generate net positive cash of approximately $10 million, representing the net of expected cash expenditures of approximately $40 million related to exit costs and the estimated proceeds of approximately $50 million related to the sale of the real estate.
Item 2.06. Material Impairments.
In connection with the exit activities described in Item 2.05 above, property, plant and equipment that has been determined to be impaired will be written down to fair value during the second quarter ended September 30, 2006. At this time, the Company has estimated a range related to the impairment charges to be approximately $45 to $50 million (which is included in the estimated total charges of $90 to $95 million included in Item 2.05 above). No material cash expenditures are expected to result from the impairment charge.

 

 

SIGNATURES
     Pursuant to the requirements of Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  FLEXTRONICS INTERNATIONAL LTD.
(Registrant)
 		  
Date: September 18, 2006  By:   /s/ Thomas J. Smach    
    Thomas J. Smach   
    Chief Financial Officer   
 

 

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