Note 3—Restructuring and Asset Impairments

In 2007, we implemented the North American Realignment and Cost Reduction Plan (the “North American Plan”) to consolidate the management of our Canadian and U.S. businesses to a North American basis, among other objectives. In 2010, we paid the remaining lease termination costs in connection with the North American Plan.

During 2012 and 2011, the Company had no restructuring activities. During 2010, the Company made $5.4 million of cash payments related to the North American Plan. These cash payments included $3.0 million related to the settlement of one of its lease obligations, which resulted in a gain of $0.4 million. In addition, the Company recorded a $0.1 million gain related to other non-cash charges for the North American Plan during 2010. We do not anticipate incurring any additional restructuring charges related to the North American Plan in the future.

The following table summarizes restructuring, asset impairment and intangible asset impairment charges (gains) for the years ended December 29, 2012, December 31, 2011 and January 1, 2011:


	For the Year Ended
(in millions of U.S. dollars)	December 29, 2012		December 31, 2011		January 1, 2011

Restructuring	$	—	$	—	$	(0.5	)
Asset impairments		—		0.6		—
Intangible asset impairments		—		1.4		—

	$	—	$	2.0	$	(0.5	)

As of December 29, 2012 and December 31, 2011, no amounts are owed under our restructuring plans.

Year ended December 31, 2011

The following table summarizes our asset impairment charges on a reporting segment basis for the year ended December 31, 2011.

(in millions of U.S. dollars)

North America

Mexico

Total

Asset impairments

—

0.6

Intangible asset impairments

1.4

—

1.4

0.6

2.0

Asset impairments - In 2011, we recorded an asset impairment charge of $1.4 million related primarily to customer relationships. Also, in 2011, we recorded a $0.6 million impairment of long-lived assets related to a production plant in Mexico that ceased operations.