XML 56 R40.htm IDEA: XBRL DOCUMENT v3.3.1.900
Restructuring Charges (Tables)
 12 Months Ended
Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Activities Disclosure [Text Block]
Restructuring Charges
The 2012 Plan
During 2012, the Company initiated a restructuring program to reduce overall corporate expenses which is expected to improve future profitability by reducing spending on marketing, general and administrative programs and refining some of the Company's research and development efforts (the “2012 Plan”). In connection with this restructuring program, the Company estimated that it would incur aggregate costs of approximately $10.0 million. During the year ended December 31, 2013 the Company incurred restructuring charges of $2.1 million related primarily to the consolidation of certain facilities and the reduction in workforce, of which a majority was related to corporate support functions. The 2012 Plan was completed in 2014.
The following table summarizes the 2012 Plan restructuring activities during the years ended December 31, 2014 and 2013:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(in thousands)
Balance at December 31, 2012
 
$
906

 
$
—

 
$
906

Charges
 
136

 
1,960

 
2,096

Payments
 
(958
)
 
(1,307
)
 
(2,265
)
Non-cash settlements
 
—

 
(653
)
*
(653
)
Balance at December 31, 2013
 
$
84

 
$
—

 
$
84

Payments
 
(84
)
 
—

 
(84
)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—

______________________________________
*The non-cash charge of $653 thousand is related to the termination of the Company's financing obligation associated with abandoning a construction asset at one of its facilities.
The 2013 Plan
During 2013, the Company initiated a restructuring program related primarily to its LDT group as a result of the change in its business strategy to reduce its focus on the lower margin bulb products. Additionally, the Company curtailed spending on its immersive media platform (the “2013 Plan”). In connection with this restructuring program, the Company estimated that it would incur aggregate costs of approximately $3.0 million to $4.0 million. During the year ended December 31, 2014, the Company incurred an immaterial amount of restructuring charges related primarily to the reduction in workforce, which was related to the previously reportable ESD segment, which is part of the Other segment as of December 31, 2014. During the year ended December 31, 2013, the Company incurred restructuring charges of $3.5 million related primarily to the reduction in workforce, of which $2.5 million was related to the previously reportable ESD segment, $0.1 million was related to the MID reportable segment and $0.9 million was related to the Other segment. The 2013 Plan was completed in 2014.
The following table summarizes the 2013 Plan restructuring activities during the years ended December 31, 2014 and 2013:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(In thousands)
Balance at December 31, 2012
 
$
—

 
$
—

 
$
—

Charges
 
3,255

 
195

 
3,450

Payments
 
(1,523
)
 
(62
)
 
(1,585
)
Balance at December 31, 2013
 
$
1,732

 
$
133

 
$
1,865

Charges
 
39

 
—

 
39

Payments
 
(1,771
)
 
(133
)
 
(1,904
)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—



The 2015 Plan
During 2015, the Company initiated a restructuring program to reduce overall corporate expenses which is expected to improve future profitability by reducing spending on sales, general and administrative programs and refining some of its research and development efforts ("the 2015 Plan"). In connection with this restructuring program, the Company initiated a plan of termination resulting in a reduction of 8% of the Company's headcount. The Company estimated that it would incur a cash payout related to the reduction in force of approximately $3.0 million, which is related to severance and termination benefits. The estimated non-cash expense was expected to be approximately $1.0 million. During the year ended December 31, 2015, the Company recorded a charge of $3.6 million related primarily to the reduction in workforce, of which $1.4 million was related to the MID reportable segment, $0.1 million was related to the CRD reportable segment, $1.2 million was related to the Other segment and $0.9 million was related to corporate support functions. The 2015 Plan is expected to be completed by the first quarter of 2016.
The following table summarizes the 2015 Plan restructuring activities during the year ended December 31, 2015:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(In thousands)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—

Charges
 
2,993

 
583

 
3,576

Payments
 
(1,765
)
 
—

 
(1,765
)
Non-cash settlements
 
—

 
(583
)
*
(583
)
Balance at December 31, 2015
 
$
1,228

 
$
—

 
$
1,228

______________________________________
*The non-cash charge of $583 thousand is related to the write down of fixed assets related to the Other segment.
Two Thousand Twelve Plan [Member]  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
The following table summarizes the 2012 Plan restructuring activities during the years ended December 31, 2014 and 2013:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(in thousands)
Balance at December 31, 2012
 
$
906

 
$
—

 
$
906

Charges
 
136

 
1,960

 
2,096

Payments
 
(958
)
 
(1,307
)
 
(2,265
)
Non-cash settlements
 
—

 
(653
)
*
(653
)
Balance at December 31, 2013
 
$
84

 
$
—

 
$
84

Payments
 
(84
)
 
—

 
(84
)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—

______________________________________
*The non-cash charge of $653 thousand is related to the termination of the Company's financing obligation associated with abandoning a construction asset at one of its facilities.
Two Thousand Thirteen Restructuring Plan [Member]  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
The following table summarizes the 2013 Plan restructuring activities during the years ended December 31, 2014 and 2013:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(In thousands)
Balance at December 31, 2012
 
$
—

 
$
—

 
$
—

Charges
 
3,255

 
195

 
3,450

Payments
 
(1,523
)
 
(62
)
 
(1,585
)
Balance at December 31, 2013
 
$
1,732

 
$
133

 
$
1,865

Charges
 
39

 
—

 
39

Payments
 
(1,771
)
 
(133
)
 
(1,904
)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—
2015 Plan [Member]  
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Activities Disclosure [Text Block]
The following table summarizes the 2015 Plan restructuring activities during the year ended December 31, 2015:
 
 
Employee
Severance
and Related Benefits
 
Facilities
 
Total
 
 
(In thousands)
Balance at December 31, 2014
 
$
—

 
$
—

 
$
—

Charges
 
2,993

 
583

 
3,576

Payments
 
(1,765
)
 
—

 
(1,765
)
Non-cash settlements
 
—

 
(583
)
*
(583
)
Balance at December 31, 2015
 
$
1,228

 
$
—

 
$
1,228

______________________________________
*The non-cash charge of $583 thousand is related to the write down of fixed assets related to the Other segment.