RESTRUCTURING AND ASSET IMPAIRMENTS

12 Months Ended

Dec. 29, 2012

Restructuring and Related Activities [Abstract]

A summary of the restructuring reserve activity from December 31, 2011 to December 29, 2012 is as follows (in millions):



	12/31/2011		Acquisitions		Net Additions			Usage			Currency		12/29/2012
2012 Actions
Severance and related costs	$	—	$	—	$	144.1		$	(68.2	)	$	2.2	$	78.1
Asset impairments	—		—		13.3			(13.3		)	—		—
Facility closure	—		—		16.3			(8.1		)	—		8.2
Subtotal 2012 actions	—		—		173.7			(89.6		)	2.2		86.3
Pre-2012 Actions
Severance and related costs	66.5		—		(0.9		)	(31.9		)	0.3		34.0
Facility closure	3.5		—		2.3			(0.9		)	—		4.9
Subtotal Pre-2012 actions	70.0		—		1.4			(32.8		)	0.3		38.9
Total	$	70.0	$	—	$	175.1		$	(122.4	)	$	2.5	$	125.2

2012 Actions: During 2012, the Company continued with restructuring activities associated with the Merger, Niscayah and other acquisitions, and recognized $61.2 million of restructuring charges related to activities initiated in the current year. Of those charges, $39.5 million relates to severance charges associated with the reduction of approximately 500 employees, $10.9 million relates to facility closure costs, and $10.8 million relates to asset impairment charges.

In addition, the Company has initiated cost reduction actions in 2012 that were not associated with the Merger or other acquisition activities, resulting in severance charges of $104.6 million pertaining to the reduction of approximately 1,600 employees, $5.4 million of facility; closure costs, and $2.5 million of asset impairment charges.

Of the $86.3 million reserves remaining as of December 29, 2012, the majority are expected to be utilized by the end of 2013.

Pre-2012 Actions: In 2012, the Company released $0.9 million of the severance reserve related to remaining liabilities for prior year initiatives. The Company also recorded $2.3 million of facility closure costs in 2012 that were associated with prior year initiatives.

The vast majority of the remaining reserve balance of $38.9 million relating to pre-2012 actions is expected to be utilized in the first half of 2013.

Segments: The $175.1 million of charges recognized in 2012 includes: $33.0 million pertaining to the CDIY segment; $43.6 million pertaining to the Security segment; $94.4 million pertaining to the Industrial segment; and $4.1 million pertaining to Corporate charges.

- 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.

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